A&S: 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&S
Largest movements
- Stocks and contracts +€155,691
up €155,691 (+63.2%), from €246,265 to €401,956
- Cash -€30,191
down €30,191 (-43.8%), from €68,858 to €38,667
mainly Contributions, distributions and other (-€203,901) and Stocks and contracts (-€155,691)
- Financial fixed assets -€14,178
down €14,178 (-85.2%), from €16,650 to €2,472
- Receivables within one year +€13,244
up €13,244 (+37.9%), from €34,960 to €48,205
of which Trade receivables: +€13,852
- Tangible fixed assets +€7,288
up €7,288 (+4.8%), from €150,975 to €158,263
of which Furniture and vehicles: +€20,704
- Debts after one year +€229,176
new in 2025: €229,176
- Contributions -€203,901
down €203,901 (-61.7%), from €330,700 to €126,799
- Trade debts +€81,745
up €81,745 (+207.9%), from €39,323 to €121,068
- Profit (loss) carried forward +€28,502
up €28,502 (+45.5%), from €62,693 to €91,195
- Turnover +€408,835
up €408,835 (+26.5%), from €1.5m to €2.0m
- Purchases and services +€351,106
up €351,106 (+25.6%), from €1.4m to €1.7m
- Staff costs +€62,746
up €62,746 (+57.1%), from €109,883 to €172,629
- Gross operating margin +€61,536
up €61,536 (+34.5%), from €178,207 to €239,743
- Other operating charges -€21,029
down €21,029 (-74.0%), from €28,429 to €7,401
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 | €517,709 | €649,563 | +€131,854 | +25.5% |
| Fixed assets | 21/28 | €167,625 | €160,735 | -€6,890 | -4.1% |
| Tangible fixed assets | 22/27 | €150,975 | €158,263 | +€7,288 | +4.8% |
| Land and buildings | 22 | €2,435 | €1,802 | -€633 | -26.0% |
| Plant, machinery and equipment | 23 | €130,124 | €117,341 | -€12,782 | -9.8% |
| Furniture and vehicles | 24 | €18,416 | €39,120 | +€20,704 | +112.4% |
| Financial fixed assets | 28 | €16,650 | €2,472 | -€14,178 | -85.2% |
| Current assets | 29/58 | €350,084 | €488,828 | +€138,744 | +39.6% |
| Stocks and contracts in progress | 3 | €246,265 | €401,956 | +€155,691 | +63.2% |
| Stocks | 30/36 | €246,265 | €401,956 | +€155,691 | +63.2% |
| Amounts receivable within one year | 40/41 | €34,960 | €48,205 | +€13,244 | +37.9% |
| Trade receivables | 40 | €30,092 | €43,944 | +€13,852 | +46.0% |
| Other amounts receivable | 41 | €4,868 | €4,261 | -€608 | -12.5% |
| Cash at bank and in hand | 54/58 | €68,858 | €38,667 | -€30,191 | -43.8% |
| Total equity and liabilities | 10/49 | €517,709 | €649,563 | +€131,854 | +25.5% |
| Equity | 10/15 | €395,253 | €219,854 | -€175,399 | -44.4% |
| Contributions | 10/11 | €330,700 | €126,799 | -€203,901 | -61.7% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,693 | €91,195 | +€28,502 | +45.5% |
| Amounts payable | 17/49 | €122,456 | €429,709 | +€307,253 | +250.9% |
| Amounts payable after more than one year | 17 | - | €229,176 | +€229,176 | |
| Other amounts payable | 178/9 | - | €229,176 | +€229,176 | |
| Amounts payable within one year | 42/48 | €122,456 | €200,533 | +€78,077 | +63.8% |
| Current portion of amounts payable after more than one year | 42 | €4,799 | - | -€4,799 | |
| Trade debts | 44 | €39,323 | €121,068 | +€81,745 | +207.9% |
| Suppliers | 440/4 | €39,323 | €121,068 | +€81,745 | +207.9% |
| Taxes, remuneration and social security | 45 | €77,813 | €76,270 | -€1,543 | -2.0% |
| Taxes | 450/3 | €10,176 | €13,415 | +€3,239 | +31.8% |
| Remuneration and social security | 454/9 | €67,637 | €62,855 | -€4,782 | -7.1% |
| Other amounts payable | 47/48 | €521 | €3,195 | +€2,674 | +513.0% |
| Turnover | 70 | €1,543,539 | €1,952,374 | +€408,835 | +26.5% |
| Non-recurring operating income | 76A | - | €4,108 | +€4,108 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,371,401 | €1,722,507 | +€351,106 | +25.6% |
| Remuneration, social security and pensions | 62 | €109,883 | €172,629 | +€62,746 | +57.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,335 | €25,473 | +€4,138 | +19.4% |
| Other operating charges | 640/8 | €28,429 | €7,401 | -€21,029 | -74.0% |
| Gross operating margin | 9900 | €178,207 | €239,743 | +€61,536 | +34.5% |
| Operating profit (loss) | 9901 | €18,559 | €34,240 | +€15,681 | +84.5% |
| Financial income | 75/76B | €1 | €9,355 | +€9,354 | +890832.4% |
| Recurring financial income | 75 | €1 | €9,355 | +€9,354 | +890832.4% |
| Financial charges | 65/66B | €5,126 | €4,911 | -€215 | -4.2% |
| Recurring financial charges | 65 | €5,126 | €4,911 | -€215 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €13,434 | €38,684 | +€25,250 | +188.0% |
| Income taxes | 67/77 | €3,173 | €10,182 | +€7,008 | +220.8% |
| Profit (loss) for the period | 9904 | €10,260 | €28,502 | +€18,242 | +177.8% |
| Profit (loss) for the period to be appropriated | 9905 | €10,260 | €28,502 | +€18,242 | +177.8% |
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 9 October 2026 via checked.be.