13.8: what changed
Two fiscal 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.
13.8
Largest movements
- Receivables within one year -€2,853
down €2,853 (-18.6%), from €15,363 to €12,510
of which Trade receivables: -€2,172
- Tangible fixed assets -€2,265
down €2,265 (-52.3%), from €4,329 to €2,064
of which Plant, machinery and equipment: -€1,644
- Stocks and contracts +€1,104
up €1,104 (+8.9%), from €12,403 to €13,507
- Cash +€1,078
up €1,078 (+11.4%), from €9,430 to €10,508
mainly Depreciation (+€2,934) and Receivables within one year (+€2,853)
- Intangible fixed assets -€670
down €670 (-35.7%), from €1,876 to €1,206
- Trade debts -€1,472
down €1,472 (-37.8%), from €3,890 to €2,418
- Tax, wage and social debts -€1,190
down €1,190 (-27.3%), from €4,359 to €3,169
- Profit (loss) carried forward -€944
down €944 (-21.0%), from €4,486 to €3,542
- Gross operating margin -€4,823
down €4,823 (-66.4%), from €7,265 to €2,442
- Taxes -€1,037
no longer reported in 2025 (was €1,037)
- Financial charges -€259
no longer reported in 2025 (was €259)
- Financial income +€226
up €226 (+18660.3%), from €1 to €227
- Depreciation -€201
down €201 (-6.4%), from €3,135 to €2,934
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.
Cash bridge derived
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 | €43,401 | €39,795 | -€3,606 | -8.3% |
| Fixed assets | 21/28 | €6,205 | €3,270 | -€2,935 | -47.3% |
| Intangible fixed assets | 21 | €1,876 | €1,206 | -€670 | -35.7% |
| Tangible fixed assets | 22/27 | €4,329 | €2,064 | -€2,265 | -52.3% |
| Plant, machinery and equipment | 23 | €2,904 | €1,260 | -€1,644 | -56.6% |
| Furniture and vehicles | 24 | €1,425 | €804 | -€621 | -43.6% |
| Current assets | 29/58 | €37,197 | €36,525 | -€672 | -1.8% |
| Stocks and contracts in progress | 3 | €12,403 | €13,507 | +€1,104 | +8.9% |
| Stocks | 30/36 | €12,403 | €13,507 | +€1,104 | +8.9% |
| Amounts receivable within one year | 40/41 | €15,363 | €12,510 | -€2,853 | -18.6% |
| Trade receivables | 40 | €13,371 | €11,199 | -€2,172 | -16.2% |
| Other amounts receivable | 41 | €1,992 | €1,311 | -€681 | -34.2% |
| Cash at bank and in hand | 54/58 | €9,430 | €10,508 | +€1,078 | +11.4% |
| Total equity and liabilities | 10/49 | €43,401 | €39,795 | -€3,606 | -8.3% |
| Equity | 10/15 | €35,152 | €34,208 | -€944 | -2.7% |
| Contributions | 10/11 | €12,320 | €12,320 | = | 0.0% |
| Reserves | 13 | €18,346 | €18,346 | +€0 | 0.0% |
| Distributable reserves | 133 | €18,346 | €18,346 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €4,486 | €3,542 | -€944 | -21.0% |
| Amounts payable | 17/49 | €8,249 | €5,587 | -€2,662 | -32.3% |
| Amounts payable within one year | 42/48 | €8,249 | €5,587 | -€2,662 | -32.3% |
| Trade debts | 44 | €3,890 | €2,418 | -€1,472 | -37.8% |
| Suppliers | 440/4 | €3,890 | €2,418 | -€1,472 | -37.8% |
| Taxes, remuneration and social security | 45 | €4,359 | €3,169 | -€1,190 | -27.3% |
| Taxes | 450/3 | €4,359 | €3,169 | -€1,190 | -27.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €255 | €401 | +€146 | +57.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,135 | €2,934 | -€201 | -6.4% |
| Other operating charges | 640/8 | €279 | €278 | -€1 | -0.4% |
| Gross operating margin | 9900 | €7,265 | €2,442 | -€4,823 | -66.4% |
| Operating profit (loss) | 9901 | €3,596 | -€1,171 | -€4,767 | |
| Financial income | 75/76B | €1 | €227 | +€226 | +18660.3% |
| Recurring financial income | 75 | €1 | €227 | +€226 | +18660.3% |
| Financial charges | 65/66B | €259 | - | -€259 | |
| Recurring financial charges | 65 | €259 | - | -€259 | |
| Profit (loss) for the period before taxes | 9903 | €3,338 | -€944 | -€4,282 | |
| Income taxes | 67/77 | €1,037 | - | -€1,037 | |
| Profit (loss) for the period | 9904 | €2,302 | -€944 | -€3,246 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,302 | -€944 | -€3,246 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.