90: 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.
90
Largest movements
- Receivables within one year -€90,099
down €90,099 (-62.7%), from €143,619 to €53,520
of which Trade receivables: -€95,641
- Tangible fixed assets +€80,258
up €80,258 (+13.7%), from €587,197 to €667,456
of which Furniture and vehicles: +€110,312
- Cash +€9,589
up €9,589 (+14.0%), from €68,571 to €78,160
mainly Receivables within one year (+€90,099) and Net result for the year (+€51,445)
- Reserves +€51,445
up €51,445 (+19.6%), from €263,028 to €314,473
- Trade debts -€43,023
down €43,023 (-28.8%), from €149,337 to €106,315
- Debts after one year -€20,067
down €20,067 (-6.7%), from €301,410 to €281,344
- Current portion of long-term debt +€11,837
up €11,837 (+19.8%), from €59,847 to €71,684
- Gross operating margin +€26,819
up €26,819 (+24.1%), from €111,291 to €138,110
- Depreciation +€16,431
up €16,431 (+49.2%), from €33,369 to €49,799
- Taxes +€6,663
up €6,663 (+43.6%), from €15,266 to €21,929
- Financial charges +€1,759
up €1,759 (+23.7%), from €7,411 to €9,170
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 | €807,388 | €809,168 | +€1,780 | +0.2% |
| Fixed assets | 21/28 | €587,197 | €667,456 | +€80,258 | +13.7% |
| Tangible fixed assets | 22/27 | €587,197 | €667,456 | +€80,258 | +13.7% |
| Land and buildings | 22 | €371,006 | €362,479 | -€8,527 | -2.3% |
| Plant, machinery and equipment | 23 | €177,214 | €155,687 | -€21,527 | -12.1% |
| Furniture and vehicles | 24 | €38,978 | €149,290 | +€110,312 | +283.0% |
| Current assets | 29/58 | €220,190 | €141,712 | -€78,478 | -35.6% |
| Stocks and contracts in progress | 3 | €8,000 | €8,000 | = | 0.0% |
| Stocks | 30/36 | €8,000 | €8,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €143,619 | €53,520 | -€90,099 | -62.7% |
| Trade receivables | 40 | €101,981 | €6,340 | -€95,641 | -93.8% |
| Other amounts receivable | 41 | €41,638 | €47,180 | +€5,542 | +13.3% |
| Cash at bank and in hand | 54/58 | €68,571 | €78,160 | +€9,589 | +14.0% |
| Deferred charges and accrued income | 490/1 | - | €2,032 | +€2,032 | |
| Total equity and liabilities | 10/49 | €807,388 | €809,168 | +€1,780 | +0.2% |
| Equity | 10/15 | €283,028 | €334,473 | +€51,445 | +18.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €263,028 | €314,473 | +€51,445 | +19.6% |
| Distributable reserves | 133 | €263,028 | €314,473 | +€51,445 | +19.6% |
| Amounts payable | 17/49 | €524,360 | €474,695 | -€49,665 | -9.5% |
| Amounts payable after more than one year | 17 | €301,410 | €281,344 | -€20,067 | -6.7% |
| Financial debts | 170/4 | €301,410 | €281,344 | -€20,067 | -6.7% |
| Amounts payable within one year | 42/48 | €222,908 | €193,326 | -€29,582 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €59,847 | €71,684 | +€11,837 | +19.8% |
| Trade debts | 44 | €149,337 | €106,315 | -€43,023 | -28.8% |
| Suppliers | 440/4 | €149,337 | €106,315 | -€43,023 | -28.8% |
| Advances received on contracts in progress | 46 | - | €1,250 | +€1,250 | |
| Taxes, remuneration and social security | 45 | €4,740 | €8,167 | +€3,427 | +72.3% |
| Taxes | 450/3 | €2,740 | €7,167 | +€4,427 | +161.6% |
| Remuneration and social security | 454/9 | €2,000 | €1,000 | -€1,000 | -50.0% |
| Other amounts payable | 47/48 | €8,984 | €5,911 | -€3,073 | -34.2% |
| Accrued charges and deferred income | 492/3 | €42 | €25 | -€17 | -40.3% |
| Remuneration, social security and pensions | 62 | €223 | - | -€223 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,369 | €49,799 | +€16,431 | +49.2% |
| Other operating charges | 640/8 | €6,492 | €5,768 | -€724 | -11.2% |
| Gross operating margin | 9900 | €111,291 | €138,110 | +€26,819 | +24.1% |
| Operating profit (loss) | 9901 | €71,208 | €82,543 | +€11,335 | +15.9% |
| Financial income | 75/76B | €0 | €0 | +€0 | +420.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +420.0% |
| Financial charges | 65/66B | €7,411 | €9,170 | +€1,759 | +23.7% |
| Recurring financial charges | 65 | €7,411 | €9,170 | +€1,759 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €63,797 | €73,374 | +€9,577 | +15.0% |
| Income taxes | 67/77 | €15,266 | €21,929 | +€6,663 | +43.6% |
| Profit (loss) for the period | 9904 | €48,531 | €51,445 | +€2,913 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,531 | €51,445 | +€2,913 | +6.0% |
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 4 October 2026 via checked.be.