5days: 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.
5days
Largest movements
- Tangible fixed assets +€173,627
up €173,627 (+80.1%), from €216,840 to €390,467
of which Assets under construction and advance payments: +€186,737
- Cash +€101,736
up €101,736 (+115.8%), from €87,870 to €189,606
mainly Short-term financial debts (+€137,931) and Trade debts (+€75,024)
- Receivables within one year -€21,315
down €21,315 (-37.3%), from €57,083 to €35,768
of which Trade receivables: -€28,953
- Short-term financial debts +€137,931
new in 2025: €137,931
- Trade debts +€75,024
up €75,024 (+2548.5%), from €2,944 to €77,968
- Other debts +€61,547
up €61,547 (+32.3%), from €190,443 to €251,990
- Tax, wage and social debts -€17,466
down €17,466 (-84.1%), from €20,774 to €3,308
of which Taxes: -€17,537
- Depreciation -€17,229
down €17,229 (-52.1%), from €33,039 to €15,810
- Gross operating margin -€14,075
down €14,075 (-10.7%), from €131,468 to €117,394
- Other operating charges +€6,416
up €6,416 (+574.3%), from €1,117 to €7,534
- Financial charges +€2,054
up €2,054 (+25.3%), from €8,114 to €10,167
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 | €364,280 | €620,238 | +€255,958 | +70.3% |
| Fixed assets | 21/28 | €216,840 | €390,467 | +€173,627 | +80.1% |
| Tangible fixed assets | 22/27 | €216,840 | €390,467 | +€173,627 | +80.1% |
| Land and buildings | 22 | €176,021 | €176,021 | = | 0.0% |
| Plant, machinery and equipment | 23 | €643 | €101 | -€542 | -84.3% |
| Furniture and vehicles | 24 | €19,640 | €7,072 | -€12,568 | -64.0% |
| Assets under construction and advance payments | 27 | €20,536 | €207,273 | +€186,737 | +909.3% |
| Current assets | 29/58 | €147,440 | €229,771 | +€82,331 | +55.8% |
| Amounts receivable within one year | 40/41 | €57,083 | €35,768 | -€21,315 | -37.3% |
| Trade receivables | 40 | €51,094 | €22,141 | -€28,953 | -56.7% |
| Other amounts receivable | 41 | €5,989 | €13,626 | +€7,637 | +127.5% |
| Cash at bank and in hand | 54/58 | €87,870 | €189,606 | +€101,736 | +115.8% |
| Deferred charges and accrued income | 490/1 | €2,487 | €4,397 | +€1,910 | +76.8% |
| Total equity and liabilities | 10/49 | €364,280 | €620,238 | +€255,958 | +70.3% |
| Equity | 10/15 | €139,962 | €140,314 | +€352 | +0.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €134,962 | €135,314 | +€352 | +0.3% |
| Tax-exempt reserves | 132 | €376 | €376 | = | 0.0% |
| Distributable reserves | 133 | €134,585 | €134,937 | +€352 | +0.3% |
| Amounts payable | 17/49 | €224,318 | €479,924 | +€255,606 | +113.9% |
| Amounts payable within one year | 42/48 | €216,504 | €471,197 | +€254,693 | +117.6% |
| Current portion of amounts payable after more than one year | 42 | €2,343 | - | -€2,343 | |
| Financial debts | 43 | - | €137,931 | +€137,931 | |
| Credit institutions | 430/8 | - | €137,931 | +€137,931 | |
| Trade debts | 44 | €2,944 | €77,968 | +€75,024 | +2548.5% |
| Suppliers | 440/4 | €2,944 | €77,968 | +€75,024 | +2548.5% |
| Taxes, remuneration and social security | 45 | €20,774 | €3,308 | -€17,466 | -84.1% |
| Taxes | 450/3 | €17,537 | - | -€17,537 | |
| Remuneration and social security | 454/9 | €3,237 | €3,308 | +€71 | +2.2% |
| Other amounts payable | 47/48 | €190,443 | €251,990 | +€61,547 | +32.3% |
| Accrued charges and deferred income | 492/3 | €7,814 | €8,727 | +€914 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,039 | €15,810 | -€17,229 | -52.1% |
| Other operating charges | 640/8 | €1,117 | €7,534 | +€6,416 | +574.3% |
| Gross operating margin | 9900 | €131,468 | €117,394 | -€14,075 | -10.7% |
| Operating profit (loss) | 9901 | €97,312 | €94,050 | -€3,263 | -3.4% |
| Financial income | 75/76B | €636 | €881 | +€245 | +38.6% |
| Recurring financial income | 75 | €636 | €881 | +€245 | +38.6% |
| Financial charges | 65/66B | €8,114 | €10,167 | +€2,054 | +25.3% |
| Recurring financial charges | 65 | €8,114 | €10,167 | +€2,054 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €89,834 | €84,763 | -€5,071 | -5.6% |
| Income taxes | 67/77 | €19,203 | €18,412 | -€791 | -4.1% |
| Profit (loss) for the period | 9904 | €70,632 | €66,352 | -€4,280 | -6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €70,632 | €66,352 | -€4,280 | -6.1% |
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 7 October 2026 via checked.be.