A 100: 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.
A 100
Largest movements
- Stocks and contracts +€27,737
up €27,737 (+93.3%), from €29,743 to €57,480
of which Contracts in progress: +€44,000
- Receivables within one year -€8,903
down €8,903 (-39.4%), from €22,613 to €13,710
of which Other amounts receivable: -€6,050
- Cash -€6,296
down €6,296 (-35.8%), from €17,605 to €11,309
mainly Stocks and contracts (-€27,737) and Investment in fixed assets (net) (-€15,780)
- Deferred charges and accrued income -€1,702
down €1,702 (-80.9%), from €2,103 to €401
- Tangible fixed assets +€1,521
up €1,521 (+6.3%), from €24,152 to €25,672
of which Plant, machinery and equipment: +€6,656
- Other debts +€39,846
up €39,846 (+426.8%), from €9,337 to €49,183
- Accrued charges and deferred income -€8,832
down €8,832 (-62.1%), from €14,232 to €5,400
- Debts after one year -€5,820
down €5,820 (-44.9%), from €12,948 to €7,128
- Reserves -€4,563
down €4,563 (-11.4%), from €40,146 to €35,583
of which Distributable reserves: -€4,563
- Trade debts -€4,247
down €4,247 (-65.1%), from €6,520 to €2,273
- Depreciation +€2,212
up €2,212 (+19.4%), from €11,406 to €13,618
- Financial income +€401
new in 2025: €401
- Gross operating margin -€385
down €385 (-3.3%), from €11,650 to €11,265
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 | €105,846 | €118,844 | +€12,998 | +12.3% |
| Fixed assets | 21/28 | €33,783 | €35,945 | +€2,162 | +6.4% |
| Intangible fixed assets | 21 | €4,632 | €5,273 | +€641 | +13.8% |
| Tangible fixed assets | 22/27 | €24,152 | €25,672 | +€1,521 | +6.3% |
| Land and buildings | 22 | €681 | €2,155 | +€1,474 | +216.3% |
| Plant, machinery and equipment | 23 | €3,944 | €10,601 | +€6,656 | +168.8% |
| Furniture and vehicles | 24 | €19,526 | €12,917 | -€6,609 | -33.8% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €72,063 | €82,899 | +€10,836 | +15.0% |
| Stocks and contracts in progress | 3 | €29,743 | €57,480 | +€27,737 | +93.3% |
| Stocks | 30/36 | €27,200 | €10,937 | -€16,263 | -59.8% |
| Contracts in progress | 37 | €2,543 | €46,543 | +€44,000 | +1730.5% |
| Amounts receivable within one year | 40/41 | €22,613 | €13,710 | -€8,903 | -39.4% |
| Trade receivables | 40 | €11,467 | €8,614 | -€2,853 | -24.9% |
| Other amounts receivable | 41 | €11,146 | €5,096 | -€6,050 | -54.3% |
| Cash at bank and in hand | 54/58 | €17,605 | €11,309 | -€6,296 | -35.8% |
| Deferred charges and accrued income | 490/1 | €2,103 | €401 | -€1,702 | -80.9% |
| Total equity and liabilities | 10/49 | €105,846 | €118,844 | +€12,998 | +12.3% |
| Equity | 10/15 | €52,546 | €47,983 | -€4,563 | -8.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €40,146 | €35,583 | -€4,563 | -11.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €38,286 | €33,723 | -€4,563 | -11.9% |
| Amounts payable | 17/49 | €53,300 | €70,862 | +€17,561 | +32.9% |
| Amounts payable after more than one year | 17 | €12,948 | €7,128 | -€5,820 | -44.9% |
| Financial debts | 170/4 | €12,948 | €7,128 | -€5,820 | -44.9% |
| Amounts payable within one year | 42/48 | €26,121 | €58,334 | +€32,212 | +123.3% |
| Current portion of amounts payable after more than one year | 42 | €5,565 | €5,820 | +€255 | +4.6% |
| Financial debts | 43 | €848 | €96 | -€752 | -88.7% |
| Credit institutions | 430/8 | €848 | €96 | -€752 | -88.7% |
| Trade debts | 44 | €6,520 | €2,273 | -€4,247 | -65.1% |
| Suppliers | 440/4 | €6,520 | €2,273 | -€4,247 | -65.1% |
| Taxes, remuneration and social security | 45 | €3,852 | €962 | -€2,890 | -75.0% |
| Taxes | 450/3 | €3,852 | €962 | -€2,890 | -75.0% |
| Other amounts payable | 47/48 | €9,337 | €49,183 | +€39,846 | +426.8% |
| Accrued charges and deferred income | 492/3 | €14,232 | €5,400 | -€8,832 | -62.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,406 | €13,618 | +€2,212 | +19.4% |
| Other operating charges | 640/8 | €739 | €647 | -€92 | -12.5% |
| Gross operating margin | 9900 | €11,650 | €11,265 | -€385 | -3.3% |
| Operating profit (loss) | 9901 | -€495 | -€2,999 | -€2,504 | -505.4% |
| Financial income | 75/76B | - | €401 | +€401 | |
| Recurring financial income | 75 | - | €401 | +€401 | |
| Financial charges | 65/66B | €1,999 | €1,964 | -€35 | -1.7% |
| Recurring financial charges | 65 | €1,999 | €1,964 | -€35 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | -€2,494 | -€4,563 | -€2,069 | -82.9% |
| Profit (loss) for the period | 9904 | -€2,494 | -€4,563 | -€2,069 | -82.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,494 | -€4,563 | -€2,069 | -82.9% |
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.