A & A: 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 & A
Largest movements
- Receivables within one year -€2.0m
down €2.0m (-85.4%), from €2.4m to €349,919
of which Trade receivables: -€2.0m
- Cash -€60,246
down €60,246 (-33.9%), from €177,653 to €117,407
mainly Advances received (-€2.0m) and Stocks and contracts (-€58,964)
- Stocks and contracts +€58,964
new in 2024: €58,964
- Advances received -€2.0m
down €2.0m (-84.2%), from €2.4m to €374,586
- Short-term financial debts -€50,000
no longer reported in 2024 (was €50,000)
- Other debts +€40,578
new in 2024: €40,578
- Trade debts -€35,255
down €35,255 (-33.3%), from €105,967 to €70,712
- Gross operating margin +€23,603
up €23,603 (+11.8%), from €200,268 to €223,871
- Write-downs +€15,083
new in 2024: €15,083
- Financial income -€4,705
down €4,705 (-100.0%), from €4,705 to €0
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,597,632 | €537,622 | -€2.1m | -79.3% |
| Fixed assets | 21/28 | €17,046 | €9,212 | -€7,834 | -46.0% |
| Tangible fixed assets | 22/27 | €16,958 | €9,124 | -€7,834 | -46.2% |
| Plant, machinery and equipment | 23 | €5,450 | €2,375 | -€3,075 | -56.4% |
| Furniture and vehicles | 24 | €11,508 | €6,748 | -€4,760 | -41.4% |
| Financial fixed assets | 28 | €88 | €88 | = | 0.0% |
| Current assets | 29/58 | €2,580,586 | €528,410 | -€2.1m | -79.5% |
| Stocks and contracts in progress | 3 | - | €58,964 | +€58,964 | |
| Stocks | 30/36 | - | €58,964 | +€58,964 | |
| Amounts receivable within one year | 40/41 | €2,399,625 | €349,919 | -€2.0m | -85.4% |
| Trade receivables | 40 | €2,046,078 | €29,263 | -€2.0m | -98.6% |
| Other amounts receivable | 41 | €353,547 | €320,657 | -€32,890 | -9.3% |
| Cash at bank and in hand | 54/58 | €177,653 | €117,407 | -€60,246 | -33.9% |
| Deferred charges and accrued income | 490/1 | €3,309 | €2,120 | -€1,189 | -35.9% |
| Total equity and liabilities | 10/49 | €2,597,632 | €537,622 | -€2.1m | -79.3% |
| Equity | 10/15 | €21,136 | €21,688 | +€552 | +2.6% |
| Contributions | 10/11 | €1,147 | €1,147 | = | 0.0% |
| Reserves | 13 | €18,240 | €18,240 | = | 0.0% |
| Distributable reserves | 133 | €18,240 | €18,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,749 | €2,301 | +€552 | +31.6% |
| Amounts payable | 17/49 | €2,576,496 | €515,933 | -€2.1m | -80.0% |
| Amounts payable within one year | 42/48 | €2,575,326 | €514,503 | -€2.1m | -80.0% |
| Current portion of amounts payable after more than one year | 42 | €14,177 | - | -€14,177 | |
| Financial debts | 43 | €50,000 | - | -€50,000 | |
| Credit institutions | 430/8 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €105,967 | €70,712 | -€35,255 | -33.3% |
| Suppliers | 440/4 | €105,967 | €70,712 | -€35,255 | -33.3% |
| Advances received on contracts in progress | 46 | €2,365,580 | €374,586 | -€2.0m | -84.2% |
| Taxes, remuneration and social security | 45 | €39,602 | €28,626 | -€10,976 | -27.7% |
| Taxes | 450/3 | €18,659 | €12,346 | -€6,313 | -33.8% |
| Remuneration and social security | 454/9 | €20,944 | €16,280 | -€4,663 | -22.3% |
| Other amounts payable | 47/48 | - | €40,578 | +€40,578 | |
| Accrued charges and deferred income | 492/3 | €1,170 | €1,431 | +€261 | +22.3% |
| Remuneration, social security and pensions | 62 | €169,434 | €169,688 | +€254 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,539 | €8,245 | -€295 | -3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €15,083 | +€15,083 | |
| Other operating charges | 640/8 | €16,465 | €16,990 | +€525 | +3.2% |
| Gross operating margin | 9900 | €200,268 | €223,871 | +€23,603 | +11.8% |
| Operating profit (loss) | 9901 | €5,830 | €13,865 | +€8,036 | +137.8% |
| Financial income | 75/76B | €4,705 | €0 | -€4,705 | -100.0% |
| Recurring financial income | 75 | €4,705 | €0 | -€4,705 | -100.0% |
| Financial charges | 65/66B | €5,011 | €5,571 | +€561 | +11.2% |
| Recurring financial charges | 65 | €5,011 | €5,571 | +€561 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €5,524 | €8,294 | +€2,770 | +50.1% |
| Income taxes | 67/77 | €7,232 | €7,742 | +€510 | +7.1% |
| Profit (loss) for the period | 9904 | -€1,708 | €552 | +€2,260 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,708 | €552 | +€2,260 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.