10 POND: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
10 POND
Largest movements
- Stocks and contracts +€133,600
up €133,600 (+111%), from €120,100 to €253,700
of which Stocks: +€133,600
- Tangible fixed assets -€71,316
down €71,316 (-4.5%), from €1.6m to €1.5m
of which Furniture and vehicles: -€89,452
- Receivables within one year -€58,221
down €58,221 (-24.9%), from €233,648 to €175,427
of which Trade receivables: -€75,332
- Debts after one year -€75,602
down €75,602 (-10.9%), from €693,825 to €618,223
- Reserves +€56,246
up €56,246 (+7.9%), from €712,609 to €768,855
- Tax, wage and social debts -€30,615
down €30,615 (-70.2%), from €43,625 to €13,010
of which Taxes: -€32,190
- Current portion of long-term debt +€30,446
up €30,446 (+18.0%), from €168,941 to €199,387
- Gross operating margin -€150,251
down €150,251 (-21.3%), from €704,971 to €554,720
- Taxes -€60,799
down €60,799 (-78.0%), from €77,994 to €17,194
- Depreciation +€24,110
up €24,110 (+15.6%), from €154,201 to €178,311
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,031,104 | €2,025,658 | -€5,446 | -0.3% |
| Fixed assets | 21/28 | €1,589,224 | €1,517,908 | -€71,316 | -4.5% |
| Tangible fixed assets | 22/27 | €1,587,664 | €1,516,348 | -€71,316 | -4.5% |
| Land and buildings | 22 | €1,271,791 | €1,237,758 | -€34,033 | -2.7% |
| Plant, machinery and equipment | 23 | €86,653 | €67,466 | -€19,187 | -22.1% |
| Furniture and vehicles | 24 | €229,221 | €139,769 | -€89,452 | -39.0% |
| Leasing and similar rights | 25 | - | €71,355 | +€71,355 | |
| Financial fixed assets | 28 | €1,560 | €1,560 | = | 0.0% |
| Current assets | 29/58 | €441,880 | €507,750 | +€65,870 | +14.9% |
| Stocks and contracts in progress | 3 | €120,100 | €253,700 | +€133,600 | +111% |
| Stocks | 30/36 | €110,100 | €243,700 | +€133,600 | +121% |
| Contracts in progress | 37 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €233,648 | €175,427 | -€58,221 | -24.9% |
| Trade receivables | 40 | €206,494 | €131,162 | -€75,332 | -36.5% |
| Other amounts receivable | 41 | €27,154 | €44,265 | +€17,111 | +63.0% |
| Cash at bank and in hand | 54/58 | €66,543 | €60,424 | -€6,119 | -9.2% |
| Deferred charges and accrued income | 490/1 | €21,588 | €18,198 | -€3,390 | -15.7% |
| Total equity and liabilities | 10/49 | €2,031,104 | €2,025,658 | -€5,446 | -0.3% |
| Equity | 10/15 | €762,609 | €818,855 | +€56,246 | +7.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €712,609 | €768,855 | +€56,246 | +7.9% |
| Distributable reserves | 133 | €712,609 | €768,855 | +€56,246 | +7.9% |
| Amounts payable | 17/49 | €1,268,495 | €1,206,803 | -€61,692 | -4.9% |
| Amounts payable after more than one year | 17 | €693,825 | €618,223 | -€75,602 | -10.9% |
| Financial debts | 170/4 | €693,825 | €618,223 | -€75,602 | -10.9% |
| Amounts payable within one year | 42/48 | €574,670 | €582,845 | +€8,175 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €168,941 | €199,387 | +€30,446 | +18.0% |
| Financial debts | 43 | €130,000 | €146,821 | +€16,821 | +12.9% |
| Credit institutions | 430/8 | €0 | €16,821 | +€16,821 | |
| Other loans | 439 | €130,000 | €130,000 | = | 0.0% |
| Trade debts | 44 | €209,794 | €192,117 | -€17,677 | -8.4% |
| Suppliers | 440/4 | €209,794 | €192,117 | -€17,677 | -8.4% |
| Taxes, remuneration and social security | 45 | €43,625 | €13,010 | -€30,615 | -70.2% |
| Taxes | 450/3 | €34,094 | €1,904 | -€32,190 | -94.4% |
| Remuneration and social security | 454/9 | €9,530 | €11,106 | +€1,576 | +16.5% |
| Other amounts payable | 47/48 | €22,310 | €31,509 | +€9,199 | +41.2% |
| Accrued charges and deferred income | 492/3 | - | €5,735 | +€5,735 | |
| Non-recurring operating income | 76A | €55,451 | €0 | -€55,451 | -100% |
| Remuneration, social security and pensions | 62 | €217,441 | €218,106 | +€665 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,201 | €178,311 | +€24,110 | +15.6% |
| Other operating charges | 640/8 | €24,398 | €21,658 | -€2,740 | -11.2% |
| Gross operating margin | 9900 | €704,971 | €554,720 | -€150,251 | -21.3% |
| Operating profit (loss) | 9901 | €308,932 | €136,645 | -€172,287 | -55.8% |
| Financial income | 75/76B | €4,082 | €5,332 | +€1,250 | +30.6% |
| Recurring financial income | 75 | €4,082 | €5,332 | +€1,250 | +30.6% |
| Financial charges | 65/66B | €58,740 | €56,946 | -€1,794 | -3.1% |
| Recurring financial charges | 65 | €58,740 | €56,946 | -€1,794 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €254,274 | €85,031 | -€169,243 | -66.6% |
| Income taxes | 67/77 | €77,994 | €17,194 | -€60,799 | -78.0% |
| Profit (loss) for the period | 9904 | €176,280 | €67,837 | -€108,443 | -61.5% |
| Profit (loss) for the period to be appropriated | 9905 | €176,280 | €67,837 | -€108,443 | -61.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.