A.B.C.D.: 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.B.C.D.
Largest movements
- Receivables within one year +€126,586
up €126,586 (+22.7%), from €556,815 to €683,401
of which Trade receivables: +€156,238
- Cash +€86,140
up €86,140 (+21.1%), from €408,835 to €494,975
mainly Trade debts (+€169,687) and Accrued charges and deferred income (+€51,433)
- Deferred charges and accrued income +€28,497
up €28,497 (+88.2%), from €32,307 to €60,804
- Trade debts +€169,687
up €169,687 (+76.7%), from €221,288 to €390,975
- Accrued charges and deferred income +€51,433
up €51,433 (+33.4%), from €154,103 to €205,536
- Tax, wage and social debts +€16,764
up €16,764 (+21.5%), from €77,863 to €94,627
- Gross operating margin -€13,655
down €13,655 (-41.8%), from €32,630 to €18,975
- Write-downs +€5,293
up €5,293, from -€5,293 to €0
- Other operating charges -€4,714
down €4,714 (-42.3%), from €11,137 to €6,423
- Financial charges -€4,578
down €4,578 (-36.0%), from €12,714 to €8,136
- Financial income +€3,885
up €3,885 (+184.7%), from €2,104 to €5,989
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 | €1,044,871 | €1,285,970 | +€241,100 | +23.1% |
| Fixed assets | 21/28 | €28,908 | €26,834 | -€2,074 | -7.2% |
| Intangible fixed assets | 21 | €10,366 | €8,292 | -€2,074 | -20.0% |
| Financial fixed assets | 28 | €18,542 | €18,542 | = | 0.0% |
| Current assets | 29/58 | €1,015,962 | €1,259,136 | +€243,173 | +23.9% |
| Stocks and contracts in progress | 3 | €18,005 | €19,955 | +€1,950 | +10.8% |
| Stocks | 30/36 | €18,005 | €19,955 | +€1,950 | +10.8% |
| Amounts receivable within one year | 40/41 | €556,815 | €683,401 | +€126,586 | +22.7% |
| Trade receivables | 40 | €511,427 | €667,665 | +€156,238 | +30.5% |
| Other amounts receivable | 41 | €45,389 | €15,737 | -€29,652 | -65.3% |
| Cash at bank and in hand | 54/58 | €408,835 | €494,975 | +€86,140 | +21.1% |
| Deferred charges and accrued income | 490/1 | €32,307 | €60,804 | +€28,497 | +88.2% |
| Total equity and liabilities | 10/49 | €1,044,871 | €1,285,970 | +€241,100 | +23.1% |
| Equity | 10/15 | €591,617 | €594,833 | +€3,216 | +0.5% |
| Contributions | 10/11 | €84,465 | €81,465 | -€3,000 | -3.6% |
| Reserves | 13 | €276,570 | €276,570 | = | 0.0% |
| Tax-exempt reserves | 132 | €38,638 | €38,638 | = | 0.0% |
| Distributable reserves | 133 | €237,932 | €237,932 | = | 0.0% |
| Profit (loss) carried forward | 14 | €230,582 | €236,797 | +€6,216 | +2.7% |
| Amounts payable | 17/49 | €453,254 | €691,138 | +€237,884 | +52.5% |
| Amounts payable within one year | 42/48 | €299,151 | €485,602 | +€186,451 | +62.3% |
| Trade debts | 44 | €221,288 | €390,975 | +€169,687 | +76.7% |
| Suppliers | 440/4 | €221,288 | €390,975 | +€169,687 | +76.7% |
| Taxes, remuneration and social security | 45 | €77,863 | €94,627 | +€16,764 | +21.5% |
| Taxes | 450/3 | €77,863 | €94,627 | +€16,764 | +21.5% |
| Accrued charges and deferred income | 492/3 | €154,103 | €205,536 | +€51,433 | +33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2 | €2,074 | +€2,071 | +87764.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,293 | €0 | +€5,293 | |
| Other operating charges | 640/8 | €11,137 | €6,423 | -€4,714 | -42.3% |
| Gross operating margin | 9900 | €32,630 | €18,975 | -€13,655 | -41.8% |
| Operating profit (loss) | 9901 | €26,784 | €10,478 | -€16,305 | -60.9% |
| Financial income | 75/76B | €2,104 | €5,989 | +€3,885 | +184.7% |
| Recurring financial income | 75 | €2,104 | €5,989 | +€3,885 | +184.7% |
| Financial charges | 65/66B | €12,714 | €8,136 | -€4,578 | -36.0% |
| Recurring financial charges | 65 | €12,714 | €8,136 | -€4,578 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | €16,174 | €8,331 | -€7,842 | -48.5% |
| Income taxes | 67/77 | €4,069 | €2,115 | -€1,954 | -48.0% |
| Profit (loss) for the period | 9904 | €12,105 | €6,216 | -€5,889 | -48.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,105 | €6,216 | -€5,889 | -48.6% |
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 11 October 2026 via checked.be.