A & A: what changed
Two financial 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 & A
Largest movements
- Receivables within one year +€23,993
up €23,993 (+12.9%), from €186,069 to €210,062
of which Other amounts receivable: +€18,257
- Cash +€2,643
up €2,643 (+1,704%), from €155 to €2,798
mainly Net result for the year (+€40,956) and Tax, wage and social debts (+€14,932)
- Reserves +€40,956
up €40,956 (+35.3%), from €116,171 to €157,128
- Trade debts -€28,316
down €28,316 (-51.7%), from €54,783 to €26,467
- Tax, wage and social debts +€14,932
up €14,932 (+165%), from €9,056 to €23,988
of which Taxes: +€14,494
- Debts after one year -€6,020
down €6,020 (-34.0%), from €17,681 to €11,661
- Current portion of long-term debt +€5,698
up €5,698 (+75.8%), from €7,520 to €13,218
- Gross operating margin +€47,813
up €47,813 (+72.7%), from €65,812 to €113,625
- Taxes +€14,466
up €14,466 (+1,077%), from €1,344 to €15,809
- Staff costs -€8,223
down €8,223 (-16.4%), from €50,223 to €42,001
- Other operating charges +€2,384
up €2,384 (+211%), from €1,130 to €3,513
- Financial charges -€1,269
down €1,269 (-30.0%), from €4,229 to €2,961
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.
Derived cash bridge
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 | €211,412 | €238,899 | +€27,488 | +13.0% |
| Fixed assets | 21/28 | €24,959 | €23,767 | -€1,192 | -4.8% |
| Tangible fixed assets | 22/27 | €24,959 | €23,767 | -€1,192 | -4.8% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €572 | €7,229 | +€6,657 | +1,165% |
| Leasing and similar rights | 25 | €24,388 | €16,538 | -€7,850 | -32.2% |
| Current assets | 29/58 | €186,452 | €215,132 | +€28,680 | +15.4% |
| Amounts receivable within one year | 40/41 | €186,069 | €210,062 | +€23,993 | +12.9% |
| Trade receivables | 40 | €37,727 | €43,463 | +€5,736 | +15.2% |
| Other amounts receivable | 41 | €148,342 | €166,600 | +€18,257 | +12.3% |
| Cash at bank and in hand | 54/58 | €155 | €2,798 | +€2,643 | +1,704% |
| Deferred charges and accrued income | 490/1 | €228 | €2,272 | +€2,044 | +896% |
| Total equity and liabilities | 10/49 | €211,412 | €238,899 | +€27,488 | +13.0% |
| Equity | 10/15 | €122,371 | €163,328 | +€40,956 | +33.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €116,171 | €157,128 | +€40,956 | +35.3% |
| Distributable reserves | 133 | €116,171 | €157,128 | +€40,956 | +35.3% |
| Amounts payable | 17/49 | €89,040 | €75,572 | -€13,469 | -15.1% |
| Amounts payable after more than one year | 17 | €17,681 | €11,661 | -€6,020 | -34.0% |
| Financial debts | 170/4 | €17,681 | €11,661 | -€6,020 | -34.0% |
| Amounts payable within one year | 42/48 | €71,359 | €63,911 | -€7,448 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €7,520 | €13,218 | +€5,698 | +75.8% |
| Financial debts | 43 | - | €238 | +€238 | |
| Credit institutions | 430/8 | - | €238 | +€238 | |
| Trade debts | 44 | €54,783 | €26,467 | -€28,316 | -51.7% |
| Suppliers | 440/4 | €54,783 | €26,467 | -€28,316 | -51.7% |
| Taxes, remuneration and social security | 45 | €9,056 | €23,988 | +€14,932 | +165% |
| Taxes | 450/3 | €1,559 | €16,052 | +€14,494 | +930% |
| Remuneration and social security | 454/9 | €7,498 | €7,936 | +€438 | +5.8% |
| Remuneration, social security and pensions | 62 | €50,223 | €42,001 | -€8,223 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,223 | €9,252 | +€28 | +0.3% |
| Other operating charges | 640/8 | €1,130 | €3,513 | +€2,384 | +211% |
| Gross operating margin | 9900 | €65,812 | €113,625 | +€47,813 | +72.7% |
| Operating profit (loss) | 9901 | €5,235 | €58,859 | +€53,624 | +1,024% |
| Financial income | 75/76B | €1,545 | €867 | -€677 | -43.8% |
| Recurring financial income | 75 | €1,545 | €867 | -€677 | -43.8% |
| Financial charges | 65/66B | €4,229 | €2,961 | -€1,269 | -30.0% |
| Recurring financial charges | 65 | €4,229 | €2,961 | -€1,269 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €2,551 | €56,766 | +€54,215 | +2,126% |
| Income taxes | 67/77 | €1,344 | €15,809 | +€14,466 | +1,077% |
| Profit (loss) for the period | 9904 | €1,207 | €40,956 | +€39,749 | +3,293% |
| Profit (loss) for the period to be appropriated | 9905 | €1,207 | €40,956 | +€39,749 | +3,293% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.