2PERFECTION: 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.
2PERFECTION
Largest movements
- Receivables within one year +€117,393
up €117,393 (+63.9%), from €183,812 to €301,204
of which Trade receivables: +€153,416
- Tangible fixed assets -€62,524
down €62,524 (-11.7%), from €535,452 to €472,927
- Deferred charges and accrued income -€34,652
down €34,652 (-74.8%), from €46,320 to €11,668
- Cash -€27,552
down €27,552 (-32.0%), from €86,066 to €58,515
mainly Receivables within one year (-€117,393) and Accrued charges and deferred income (-€78,090)
- Trade debts +€136,599
up €136,599 (+520.9%), from €26,223 to €162,823
- Accrued charges and deferred income -€78,090
down €78,090 (-86.7%), from €90,090 to €12,000
- Debts after one year -€54,786
down €54,786 (-13.0%), from €422,459 to €367,673
- Profit (loss) carried forward +€45,409
up €45,409 (+226.8%), from €20,022 to €65,430
- Current portion of long-term debt -€36,786
down €36,786 (-44.1%), from €83,436 to €46,650
- Staff costs +€34,590
up €34,590 (+25.6%), from €135,346 to €169,936
- Gross operating margin -€28,245
down €28,245 (-8.3%), from €341,576 to €313,331
- Taxes -€14,615
down €14,615 (-40.6%), from €35,963 to €21,349
- Write-downs -€11,758
down €11,758, from €5,879 to -€5,879
- Other operating charges -€7,966
down €7,966 (-43.5%), from €18,327 to €10,360
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 | €853,074 | €845,740 | -€7,335 | -0.9% |
| Fixed assets | 21/28 | €536,877 | €474,352 | -€62,524 | -11.6% |
| Tangible fixed assets | 22/27 | €535,452 | €472,927 | -€62,524 | -11.7% |
| Land and buildings | 22 | €376,965 | €362,875 | -€14,090 | -3.7% |
| Plant, machinery and equipment | 23 | €78,455 | €54,053 | -€24,402 | -31.1% |
| Leasing and similar rights | 25 | €80,031 | €56,000 | -€24,032 | -30.0% |
| Financial fixed assets | 28 | €1,425 | €1,425 | = | 0.0% |
| Current assets | 29/58 | €316,198 | €371,387 | +€55,189 | +17.5% |
| Amounts receivable within one year | 40/41 | €183,812 | €301,204 | +€117,393 | +63.9% |
| Trade receivables | 40 | €137,507 | €290,924 | +€153,416 | +111.6% |
| Other amounts receivable | 41 | €46,304 | €10,281 | -€36,024 | -77.8% |
| Cash at bank and in hand | 54/58 | €86,066 | €58,515 | -€27,552 | -32.0% |
| Deferred charges and accrued income | 490/1 | €46,320 | €11,668 | -€34,652 | -74.8% |
| Total equity and liabilities | 10/49 | €853,074 | €845,740 | -€7,335 | -0.9% |
| Equity | 10/15 | €187,115 | €229,051 | +€41,936 | +22.4% |
| Contributions | 10/11 | €123,000 | €123,000 | = | 0.0% |
| Capital | 10 | €123,000 | - | -€123,000 | |
| Issued capital | 100 | €123,000 | - | -€123,000 | |
| Reserves | 13 | €12,300 | €12,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,300 | €12,300 | = | 0.0% |
| Legal reserve | 130 | €12,300 | - | -€12,300 | |
| Reserves not available under the articles | 1311 | - | €12,300 | +€12,300 | |
| Profit (loss) carried forward | 14 | €20,022 | €65,430 | +€45,409 | +226.8% |
| Investment grants | 15 | €31,793 | €28,320 | -€3,472 | -10.9% |
| Amounts payable | 17/49 | €665,960 | €616,689 | -€49,271 | -7.4% |
| Amounts payable after more than one year | 17 | €422,459 | €367,673 | -€54,786 | -13.0% |
| Financial debts | 170/4 | €422,459 | €367,673 | -€54,786 | -13.0% |
| Amounts payable within one year | 42/48 | €153,411 | €237,016 | +€83,605 | +54.5% |
| Current portion of amounts payable after more than one year | 42 | €83,436 | €46,650 | -€36,786 | -44.1% |
| Trade debts | 44 | €26,223 | €162,823 | +€136,599 | +520.9% |
| Suppliers | 440/4 | €26,223 | €162,823 | +€136,599 | +520.9% |
| Taxes, remuneration and social security | 45 | €43,751 | €27,543 | -€16,208 | -37.0% |
| Taxes | 450/3 | €23,651 | - | -€23,651 | |
| Remuneration and social security | 454/9 | €20,100 | €27,543 | +€7,443 | +37.0% |
| Accrued charges and deferred income | 492/3 | €90,090 | €12,000 | -€78,090 | -86.7% |
| Non-recurring operating income | 76A | €5,878 | - | -€5,878 | |
| Remuneration, social security and pensions | 62 | €135,346 | €169,936 | +€34,590 | +25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,723 | €62,524 | -€5,199 | -7.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,879 | -€5,879 | -€11,758 | |
| Other operating charges | 640/8 | €18,327 | €10,360 | -€7,966 | -43.5% |
| Gross operating margin | 9900 | €341,576 | €313,331 | -€28,245 | -8.3% |
| Operating profit (loss) | 9901 | €114,302 | €76,390 | -€37,913 | -33.2% |
| Financial income | 75/76B | €3,614 | €3,487 | -€127 | -3.5% |
| Recurring financial income | 75 | €3,614 | €3,487 | -€127 | -3.5% |
| Financial charges | 65/66B | €12,976 | €13,119 | +€143 | +1.1% |
| Recurring financial charges | 65 | €12,976 | €13,119 | +€143 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €104,941 | €66,757 | -€38,183 | -36.4% |
| Income taxes | 67/77 | €35,963 | €21,349 | -€14,615 | -40.6% |
| Profit (loss) for the period | 9904 | €68,977 | €45,409 | -€23,569 | -34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €68,977 | €45,409 | -€23,569 | -34.2% |
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.