A-GROUP: 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-GROUP
Largest movements
- Cash +€173,939
up €173,939 (+38.7%), from €450,028 to €623,967
mainly Net result for the year (+€349,709) and Trade debts (+€206,845)
- Deferred charges and accrued income -€102,888
down €102,888 (-35.9%), from €286,523 to €183,635
- Receivables within one year +€99,261
up €99,261 (+9.7%), from €1.0m to €1.1m
of which Trade receivables: +€65,794
- Trade debts +€206,845
up €206,845 (+138.9%), from €148,943 to €355,788
- Other debts -€54,426
down €54,426 (-7.3%), from €740,640 to €686,213
- Write-downs -€1.7m
down €1.7m, from €837,500 to -€825,933
- Gross operating margin -€1.3m
down €1.3m (-70.0%), from €1.8m to €546,657
- Other operating charges +€823,919
up €823,919 (+4632.4%), from €17,786 to €841,705
- Taxes -€108,309
down €108,309 (-46.2%), from €234,220 to €125,912
- Staff costs -€18,653
down €18,653 (-32.8%), from €56,820 to €38,167
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 | €1,858,341 | €2,004,884 | +€146,544 | +7.9% |
| Fixed assets | 21/28 | €85,930 | €74,361 | -€11,569 | -13.5% |
| Intangible fixed assets | 21 | €1,712 | €1,103 | -€608 | -35.5% |
| Tangible fixed assets | 22/27 | €50,727 | €39,618 | -€11,109 | -21.9% |
| Furniture and vehicles | 24 | €50,727 | €39,618 | -€11,109 | -21.9% |
| Financial fixed assets | 28 | €33,491 | €33,639 | +€148 | +0.4% |
| Current assets | 29/58 | €1,772,411 | €1,930,523 | +€158,112 | +8.9% |
| Amounts receivable within one year | 40/41 | €1,023,661 | €1,122,922 | +€99,261 | +9.7% |
| Trade receivables | 40 | €790,958 | €856,752 | +€65,794 | +8.3% |
| Other amounts receivable | 41 | €232,703 | €266,170 | +€33,467 | +14.4% |
| Current investments | 50/53 | €12,200 | €0 | -€12,200 | -100.0% |
| Cash at bank and in hand | 54/58 | €450,028 | €623,967 | +€173,939 | +38.7% |
| Deferred charges and accrued income | 490/1 | €286,523 | €183,635 | -€102,888 | -35.9% |
| Total equity and liabilities | 10/49 | €1,858,341 | €2,004,884 | +€146,544 | +7.9% |
| Equity | 10/15 | €936,377 | €936,377 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €917,777 | €917,777 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €917,777 | €917,777 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €921,964 | €1,068,507 | +€146,544 | +15.9% |
| Amounts payable within one year | 42/48 | €921,964 | €1,068,507 | +€146,544 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €3,955 | €4,129 | +€175 | +4.4% |
| Credit institutions | 430/8 | €3,955 | €4,129 | +€175 | +4.4% |
| Trade debts | 44 | €148,943 | €355,788 | +€206,845 | +138.9% |
| Suppliers | 440/4 | €148,943 | €355,788 | +€206,845 | +138.9% |
| Taxes, remuneration and social security | 45 | €28,427 | €22,377 | -€6,050 | -21.3% |
| Taxes | 450/3 | €19,920 | €19,976 | +€56 | +0.3% |
| Remuneration and social security | 454/9 | €8,507 | €2,400 | -€6,107 | -71.8% |
| Other amounts payable | 47/48 | €740,640 | €686,213 | -€54,426 | -7.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €56,820 | €38,167 | -€18,653 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,655 | €14,851 | +€5,196 | +53.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €837,500 | -€825,933 | -€1.7m | |
| Other operating charges | 640/8 | €17,786 | €841,705 | +€823,919 | +4632.4% |
| Non-recurring operating charges | 66A | €11,737 | €0 | -€11,737 | -100.0% |
| Gross operating margin | 9900 | €1,824,493 | €546,657 | -€1.3m | -70.0% |
| Operating profit (loss) | 9901 | €890,995 | €477,867 | -€413,128 | -46.4% |
| Financial income | 75/76B | €1,188 | €440 | -€748 | -63.0% |
| Recurring financial income | 75 | €1,188 | €440 | -€748 | -63.0% |
| Financial charges | 65/66B | €9,570 | €2,687 | -€6,883 | -71.9% |
| Recurring financial charges | 65 | €9,570 | €2,687 | -€6,883 | -71.9% |
| Profit (loss) for the period before taxes | 9903 | €882,613 | €475,620 | -€406,993 | -46.1% |
| Income taxes | 67/77 | €234,220 | €125,912 | -€108,309 | -46.2% |
| Profit (loss) for the period | 9904 | €648,393 | €349,709 | -€298,684 | -46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €648,393 | €349,709 | -€298,684 | -46.1% |
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 6 October 2026 via checked.be.