2 Advice: 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.
2 Advice
Largest movements
- Receivables within one year -€87,436
down €87,436 (-38.1%), from €229,294 to €141,858
of which Trade receivables: -€97,950
- Tangible fixed assets +€8,292
up €8,292 (+132%), from €6,268 to €14,560
of which Plant, machinery and equipment: +€11,542
- Deferred charges and accrued income +€5,364
up €5,364 (+559%), from €960 to €6,324
- Trade debts -€77,253
down €77,253 (-61.2%), from €126,285 to €49,032
- Accrued charges and deferred income +€17,534
up €17,534 (+21.9%), from €80,113 to €97,647
- Debts after one year -€14,696
down €14,696 (-40.8%), from €36,000 to €21,304
- Other debts -€8,036
down €8,036 (-75.6%), from €10,629 to €2,593
- Current portion of long-term debt +€4,916
new in 2025: €4,916
- Gross operating margin -€30,815
down €30,815 (-31.1%), from €99,069 to €68,254
- Staff costs -€20,103
down €20,103 (-32.5%), from €61,877 to €41,774
- Depreciation -€18,634
down €18,634 (-78.5%), from €23,727 to €5,093
- Financial charges +€13,606
up €13,606 (+696%), from €1,955 to €15,561
- Other operating charges +€3,200
up €3,200 (+622%), from €515 to €3,715
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 | €299,121 | €223,055 | -€76,066 | -25.4% |
| Fixed assets | 21/28 | €6,631 | €14,923 | +€8,292 | +125% |
| Tangible fixed assets | 22/27 | €6,268 | €14,560 | +€8,292 | +132% |
| Plant, machinery and equipment | 23 | €0 | €11,542 | +€11,542 | |
| Furniture and vehicles | 24 | €6,268 | €3,018 | -€3,250 | -51.8% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €292,489 | €208,132 | -€84,357 | -28.8% |
| Stocks and contracts in progress | 3 | €57,196 | €54,692 | -€2,504 | -4.4% |
| Stocks | 30/36 | €57,196 | €54,692 | -€2,504 | -4.4% |
| Amounts receivable within one year | 40/41 | €229,294 | €141,858 | -€87,436 | -38.1% |
| Trade receivables | 40 | €222,919 | €124,969 | -€97,950 | -43.9% |
| Other amounts receivable | 41 | €6,375 | €16,889 | +€10,514 | +165% |
| Cash at bank and in hand | 54/58 | €5,040 | €5,258 | +€219 | +4.3% |
| Deferred charges and accrued income | 490/1 | €960 | €6,324 | +€5,364 | +559% |
| Total equity and liabilities | 10/49 | €299,121 | €223,055 | -€76,066 | -25.4% |
| Equity | 10/15 | €34,825 | €35,855 | +€1,031 | +3.0% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,565 | €27,595 | +€1,031 | +3.9% |
| Amounts payable | 17/49 | €264,296 | €187,200 | -€77,096 | -29.2% |
| Amounts payable after more than one year | 17 | €36,000 | €21,304 | -€14,696 | -40.8% |
| Financial debts | 170/4 | €36,000 | €21,304 | -€14,696 | -40.8% |
| Amounts payable within one year | 42/48 | €148,182 | €68,249 | -€79,934 | -53.9% |
| Current portion of amounts payable after more than one year | 42 | - | €4,916 | +€4,916 | |
| Trade debts | 44 | €126,285 | €49,032 | -€77,253 | -61.2% |
| Suppliers | 440/4 | €126,285 | €49,032 | -€77,253 | -61.2% |
| Advances received on contracts in progress | 46 | €290 | €0 | -€290 | -100% |
| Taxes, remuneration and social security | 45 | €10,978 | €11,707 | +€729 | +6.6% |
| Taxes | 450/3 | €4,025 | €4,864 | +€839 | +20.8% |
| Remuneration and social security | 454/9 | €6,953 | €6,844 | -€109 | -1.6% |
| Other amounts payable | 47/48 | €10,629 | €2,593 | -€8,036 | -75.6% |
| Accrued charges and deferred income | 492/3 | €80,113 | €97,647 | +€17,534 | +21.9% |
| Remuneration, social security and pensions | 62 | €61,877 | €41,774 | -€20,103 | -32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,727 | €5,093 | -€18,634 | -78.5% |
| Other operating charges | 640/8 | €515 | €3,715 | +€3,200 | +622% |
| Gross operating margin | 9900 | €99,069 | €68,254 | -€30,815 | -31.1% |
| Operating profit (loss) | 9901 | €12,950 | €17,672 | +€4,722 | +36.5% |
| Financial income | 75/76B | €1,321 | €1,772 | +€451 | +34.1% |
| Recurring financial income | 75 | €1,321 | €1,772 | +€451 | +34.1% |
| Financial charges | 65/66B | €1,955 | €15,561 | +€13,606 | +696% |
| Recurring financial charges | 65 | €1,955 | €15,561 | +€13,606 | +696% |
| Profit (loss) for the period before taxes | 9903 | €12,316 | €3,882 | -€8,434 | -68.5% |
| Income taxes | 67/77 | €2,357 | €2,851 | +€494 | +21.0% |
| Profit (loss) for the period | 9904 | €9,959 | €1,031 | -€8,928 | -89.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,959 | €1,031 | -€8,928 | -89.7% |
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.