2-TRADE: 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-TRADE
Largest movements
- Stocks and contracts -€200,534
down €200,534 (-28.5%), from €704,361 to €503,826
- Receivables within one year +€87,295
up €87,295 (+86.6%), from €100,858 to €188,153
of which Trade receivables: +€96,042
- Cash -€62,571
down €62,571 (-84.2%), from €74,323 to €11,752
mainly Contributions, distributions and other (-€393,736) and Receivables within one year (-€87,295)
- Profit (loss) carried forward -€347,334
down €347,334 (-100.0%), from €347,334 to €0
- Other debts +€130,805
up €130,805 (+205.9%), from €63,538 to €194,343
- Reserves +€95,724
new in 2025: €95,724
- Short-term financial debts -€30,000
down €30,000 (-17.1%), from €175,000 to €145,000
- Tax, wage and social debts -€15,238
down €15,238 (-15.7%), from €97,143 to €81,904
- Gross operating margin -€15,660
down €15,660 (-6.5%), from €241,246 to €225,586
- Financial charges -€7,049
down €7,049 (-30.6%), from €23,051 to €16,003
- Taxes +€7,009
up €7,009 (+14.5%), from €48,428 to €55,437
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 | €901,936 | €729,913 | -€172,023 | -19.1% |
| Fixed assets | 21/28 | €18,909 | €21,773 | +€2,864 | +15.1% |
| Tangible fixed assets | 22/27 | €18,909 | €21,773 | +€2,864 | +15.1% |
| Plant, machinery and equipment | 23 | €6,786 | €9,550 | +€2,764 | +40.7% |
| Furniture and vehicles | 24 | €10,262 | €7,859 | -€2,403 | -23.4% |
| Other tangible fixed assets | 26 | €1,860 | €4,364 | +€2,503 | +134.6% |
| Current assets | 29/58 | €883,027 | €708,140 | -€174,887 | -19.8% |
| Stocks and contracts in progress | 3 | €704,361 | €503,826 | -€200,534 | -28.5% |
| Stocks | 30/36 | €704,361 | €503,826 | -€200,534 | -28.5% |
| Amounts receivable within one year | 40/41 | €100,858 | €188,153 | +€87,295 | +86.6% |
| Trade receivables | 40 | €87,898 | €183,940 | +€96,042 | +109.3% |
| Other amounts receivable | 41 | €12,959 | €4,213 | -€8,746 | -67.5% |
| Cash at bank and in hand | 54/58 | €74,323 | €11,752 | -€62,571 | -84.2% |
| Deferred charges and accrued income | 490/1 | €3,485 | €4,409 | +€923 | +26.5% |
| Total equity and liabilities | 10/49 | €901,936 | €729,913 | -€172,023 | -19.1% |
| Equity | 10/15 | €352,334 | €100,724 | -€251,611 | -71.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €95,724 | +€95,724 | |
| Distributable reserves | 133 | - | €95,724 | +€95,724 | |
| Profit (loss) carried forward | 14 | €347,334 | €0 | -€347,334 | -100.0% |
| Amounts payable | 17/49 | €549,602 | €629,190 | +€79,588 | +14.5% |
| Amounts payable after more than one year | 17 | €195,000 | €195,000 | = | 0.0% |
| Financial debts | 170/4 | €195,000 | €195,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €346,639 | €433,164 | +€86,524 | +25.0% |
| Financial debts | 43 | €175,000 | €145,000 | -€30,000 | -17.1% |
| Credit institutions | 430/8 | €175,000 | €145,000 | -€30,000 | -17.1% |
| Trade debts | 44 | €10,959 | €6,910 | -€4,049 | -36.9% |
| Suppliers | 440/4 | €10,959 | €6,910 | -€4,049 | -36.9% |
| Advances received on contracts in progress | 46 | €0 | €5,006 | +€5,006 | |
| Taxes, remuneration and social security | 45 | €97,143 | €81,904 | -€15,238 | -15.7% |
| Taxes | 450/3 | €97,143 | €81,904 | -€15,238 | -15.7% |
| Other amounts payable | 47/48 | €63,538 | €194,343 | +€130,805 | +205.9% |
| Accrued charges and deferred income | 492/3 | €7,962 | €1,026 | -€6,936 | -87.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,428 | €8,275 | +€847 | +11.4% |
| Other operating charges | 640/8 | €3,572 | €3,749 | +€177 | +5.0% |
| Non-recurring operating charges | 66A | €93 | €0 | -€93 | -100.0% |
| Gross operating margin | 9900 | €241,246 | €225,586 | -€15,660 | -6.5% |
| Operating profit (loss) | 9901 | €230,153 | €213,562 | -€16,591 | -7.2% |
| Financial income | 75/76B | €3 | €2 | -€1 | -22.4% |
| Recurring financial income | 75 | €3 | €2 | -€1 | -22.4% |
| Financial charges | 65/66B | €23,051 | €16,003 | -€7,049 | -30.6% |
| Recurring financial charges | 65 | €23,051 | €16,003 | -€7,049 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €207,105 | €197,562 | -€9,543 | -4.6% |
| Income taxes | 67/77 | €48,428 | €55,437 | +€7,009 | +14.5% |
| Profit (loss) for the period | 9904 | €158,677 | €142,125 | -€16,552 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €158,677 | €142,125 | -€16,552 | -10.4% |
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 12 October 2026 via checked.be.