2 COMMUNICATE: 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.
2 COMMUNICATE
Largest movements
- Receivables after one year -€12,000
down €12,000 (-11.1%), from €108,000 to €96,000
- Receivables within one year -€8,297
down €8,297 (-11.9%), from €69,815 to €61,518
of which Trade receivables: -€8,275
- Intangible fixed assets -€5,434
down €5,434 (-19.7%), from €27,592 to €22,157
- Trade debts +€13,574
up €13,574 (+59.8%), from €22,707 to €36,281
- Debts after one year -€10,420
down €10,420 (-29.1%), from €35,813 to €25,393
- Tax, wage and social debts -€6,721
down €6,721 (-37.2%), from €18,086 to €11,365
- Current portion of long-term debt -€6,162
down €6,162 (-37.2%), from €16,581 to €10,420
- Provisions -€6,000
down €6,000 (-24.5%), from €24,473 to €18,473
- Gross operating margin -€27,514
down €27,514 (-80.8%), from €34,048 to €6,533
- Taxes -€7,415
down €7,415 (-97.6%), from €7,600 to €184
- Financial income -€4,963
down €4,963 (-74.4%), from €6,671 to €1,709
- Financial charges -€2,050
down €2,050 (-43.0%), from €4,765 to €2,715
- Staff costs -€1,494
down €1,494 (-15.9%), from €9,398 to €7,904
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 | €220,933 | €195,478 | -€25,456 | -11.5% |
| Fixed assets | 21/28 | €30,365 | €24,220 | -€6,146 | -20.2% |
| Intangible fixed assets | 21 | €27,592 | €22,157 | -€5,434 | -19.7% |
| Tangible fixed assets | 22/27 | €2,468 | €1,757 | -€711 | -28.8% |
| Plant, machinery and equipment | 23 | €2,102 | €1,757 | -€345 | -16.4% |
| Assets under construction and advance payments | 27 | €366 | - | -€366 | |
| Financial fixed assets | 28 | €306 | €306 | = | 0.0% |
| Current assets | 29/58 | €190,568 | €171,258 | -€19,310 | -10.1% |
| Amounts receivable after more than one year | 29 | €108,000 | €96,000 | -€12,000 | -11.1% |
| Other amounts receivable | 291 | €108,000 | €96,000 | -€12,000 | -11.1% |
| Amounts receivable within one year | 40/41 | €69,815 | €61,518 | -€8,297 | -11.9% |
| Trade receivables | 40 | €36,419 | €28,144 | -€8,275 | -22.7% |
| Other amounts receivable | 41 | €33,395 | €33,374 | -€22 | -0.1% |
| Cash at bank and in hand | 54/58 | €9,757 | €11,787 | +€2,030 | +20.8% |
| Deferred charges and accrued income | 490/1 | €2,996 | €1,953 | -€1,043 | -34.8% |
| Total equity and liabilities | 10/49 | €220,933 | €195,478 | -€25,456 | -11.5% |
| Equity | 10/15 | €96,474 | €91,570 | -€4,904 | -5.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,360 | €31,360 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,500 | €14,500 | = | 0.0% |
| Distributable reserves | 133 | €16,860 | €16,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,514 | €41,610 | -€4,904 | -10.5% |
| Provisions and deferred taxes | 16 | €24,473 | €18,473 | -€6,000 | -24.5% |
| Provisions for liabilities and charges | 160/5 | €24,473 | €18,473 | -€6,000 | -24.5% |
| Pensions and similar obligations | 160 | €24,473 | €18,473 | -€6,000 | -24.5% |
| Amounts payable | 17/49 | €99,987 | €85,435 | -€14,552 | -14.6% |
| Amounts payable after more than one year | 17 | €35,813 | €25,393 | -€10,420 | -29.1% |
| Financial debts | 170/4 | €35,813 | €25,393 | -€10,420 | -29.1% |
| Amounts payable within one year | 42/48 | €64,174 | €60,042 | -€4,133 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €16,581 | €10,420 | -€6,162 | -37.2% |
| Financial debts | 43 | €2,800 | €1,976 | -€824 | -29.4% |
| Credit institutions | 430/8 | €2,800 | €1,976 | -€824 | -29.4% |
| Trade debts | 44 | €22,707 | €36,281 | +€13,574 | +59.8% |
| Suppliers | 440/4 | €22,707 | €36,281 | +€13,574 | +59.8% |
| Taxes, remuneration and social security | 45 | €18,086 | €11,365 | -€6,721 | -37.2% |
| Taxes | 450/3 | €18,086 | €11,365 | -€6,721 | -37.2% |
| Other amounts payable | 47/48 | €4,000 | - | -€4,000 | |
| Remuneration, social security and pensions | 62 | €9,398 | €7,904 | -€1,494 | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,042 | €7,347 | -€694 | -8.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€5,500 | -€6,000 | -€500 | -9.1% |
| Other operating charges | 640/8 | €1,272 | €995 | -€276 | -21.7% |
| Gross operating margin | 9900 | €34,048 | €6,533 | -€27,514 | -80.8% |
| Operating profit (loss) | 9901 | €20,836 | -€3,714 | -€24,550 | |
| Financial income | 75/76B | €6,671 | €1,709 | -€4,963 | -74.4% |
| Recurring financial income | 75 | €6,671 | €1,709 | -€4,963 | -74.4% |
| Financial charges | 65/66B | €4,765 | €2,715 | -€2,050 | -43.0% |
| Recurring financial charges | 65 | €4,765 | €2,715 | -€2,050 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €22,743 | -€4,720 | -€27,463 | |
| Income taxes | 67/77 | €7,600 | €184 | -€7,415 | -97.6% |
| Profit (loss) for the period | 9904 | €15,144 | -€4,904 | -€20,047 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,144 | -€4,904 | -€20,047 |
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 29 September 2026 via checked.be.