673: 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.
673
Largest movements
- Deferred charges and accrued income +€85,646
up €85,646 (+20.0%), from €429,180 to €514,826
- Stocks and contracts -€66,201
down €66,201 (-6.8%), from €971,933 to €905,732
- Receivables within one year -€56,919
down €56,919 (-11.0%), from €519,014 to €462,095
of which Trade receivables: -€49,658
- Profit (loss) carried forward -€111,549
down €111,549 (-80.6%), from -€138,365 to -€249,914
- Trade debts +€96,769
up €96,769 (+38.5%), from €251,601 to €348,369
- Debts after one year -€34,568
down €34,568 (-2.9%), from €1.2m to €1.2m
- Staff costs +€95,754
up €95,754 (+28.3%), from €338,904 to €434,658
- Gross operating margin +€54,789
up €54,789 (+13.8%), from €397,258 to €452,048
- Other operating charges -€24,078
down €24,078 (-75.9%), from €31,742 to €7,663
- Financial charges +€19,587
up €19,587 (+22.4%), from €87,563 to €107,151
- Financial income +€8,067
up €8,067 (+198.7%), from €4,060 to €12,127
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 | €2,048,275 | €2,000,734 | -€47,541 | -2.3% |
| Fixed assets | 21/28 | €125,743 | €116,151 | -€9,592 | -7.6% |
| Tangible fixed assets | 22/27 | €117,902 | €108,310 | -€9,592 | -8.1% |
| Furniture and vehicles | 24 | €114,062 | €105,031 | -€9,031 | -7.9% |
| Other tangible fixed assets | 26 | €3,840 | €3,279 | -€561 | -14.6% |
| Financial fixed assets | 28 | €7,841 | €7,841 | = | 0.0% |
| Current assets | 29/58 | €1,922,532 | €1,884,583 | -€37,949 | -2.0% |
| Stocks and contracts in progress | 3 | €971,933 | €905,732 | -€66,201 | -6.8% |
| Stocks | 30/36 | €971,933 | €905,732 | -€66,201 | -6.8% |
| Amounts receivable within one year | 40/41 | €519,014 | €462,095 | -€56,919 | -11.0% |
| Trade receivables | 40 | €486,644 | €436,986 | -€49,658 | -10.2% |
| Other amounts receivable | 41 | €32,370 | €25,109 | -€7,260 | -22.4% |
| Cash at bank and in hand | 54/58 | €2,405 | €1,930 | -€475 | -19.7% |
| Deferred charges and accrued income | 490/1 | €429,180 | €514,826 | +€85,646 | +20.0% |
| Total equity and liabilities | 10/49 | €2,048,275 | €2,000,734 | -€47,541 | -2.3% |
| Equity | 10/15 | €269,695 | €158,146 | -€111,549 | -41.4% |
| Contributions | 10/11 | €406,200 | €406,200 | = | 0.0% |
| Capital | 10 | €406,200 | €406,200 | = | 0.0% |
| Issued capital | 100 | €418,600 | €418,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€138,365 | -€249,914 | -€111,549 | -80.6% |
| Amounts payable | 17/49 | €1,778,579 | €1,842,588 | +€64,008 | +3.6% |
| Amounts payable after more than one year | 17 | €1,193,481 | €1,158,913 | -€34,568 | -2.9% |
| Financial debts | 170/4 | €1,193,481 | €1,158,913 | -€34,568 | -2.9% |
| Amounts payable within one year | 42/48 | €571,261 | €669,837 | +€98,576 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €32,896 | €34,568 | +€1,672 | +5.1% |
| Financial debts | 43 | €200,000 | €194,059 | -€5,941 | -3.0% |
| Credit institutions | 430/8 | €200,000 | €194,059 | -€5,941 | -3.0% |
| Trade debts | 44 | €251,601 | €348,369 | +€96,769 | +38.5% |
| Suppliers | 440/4 | €251,601 | €348,369 | +€96,769 | +38.5% |
| Taxes, remuneration and social security | 45 | €64,672 | €70,749 | +€6,076 | +9.4% |
| Taxes | 450/3 | €28,494 | €20,670 | -€7,824 | -27.5% |
| Remuneration and social security | 454/9 | €36,178 | €50,078 | +€13,900 | +38.4% |
| Other amounts payable | 47/48 | €22,092 | €22,092 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €13,838 | €13,838 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €338,904 | €434,658 | +€95,754 | +28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,308 | €26,251 | -€56 | -0.2% |
| Other operating charges | 640/8 | €31,742 | €7,663 | -€24,078 | -75.9% |
| Gross operating margin | 9900 | €397,258 | €452,048 | +€54,789 | +13.8% |
| Operating profit (loss) | 9901 | €305 | -€16,525 | -€16,830 | |
| Financial income | 75/76B | €4,060 | €12,127 | +€8,067 | +198.7% |
| Recurring financial income | 75 | €4,060 | €12,127 | +€8,067 | +198.7% |
| Financial charges | 65/66B | €87,563 | €107,151 | +€19,587 | +22.4% |
| Recurring financial charges | 65 | €87,563 | €107,151 | +€19,587 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | -€83,199 | -€111,549 | -€28,350 | -34.1% |
| Profit (loss) for the period | 9904 | -€83,199 | -€111,549 | -€28,350 | -34.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,199 | -€111,549 | -€28,350 | -34.1% |
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 28 September 2026 via checked.be.