A TAX SOLUTION: 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 TAX SOLUTION
Largest movements
- Cash +€175,220
up €175,220 (+67.6%), from €259,139 to €434,360
mainly Debts after one year (+€77,962) and Current investments (+€59,779)
- Current investments -€59,779
down €59,779 (-37.1%), from €161,296 to €101,517
- Receivables within one year -€59,561
down €59,561 (-25.4%), from €234,577 to €175,017
of which Trade receivables: -€60,933
- Tangible fixed assets +€16,156
up €16,156 (+68.5%), from €23,593 to €39,749
of which Furniture and vehicles: +€19,404
- Reserves +€104,111
up €104,111 (+44.0%), from €236,715 to €340,826
of which Non-distributable reserves: +€100,000
- Profit (loss) carried forward -€100,000
down €100,000 (-99.1%), from €100,875 to €875
- Debts after one year +€77,962
new in 2025: €77,962
- Other debts -€37,043
down €37,043 (-41.9%), from €88,512 to €51,469
- Current portion of long-term debt +€18,935
new in 2025: €18,935
- Gross operating margin -€34,852
down €34,852 (-6.6%), from €529,916 to €495,064
- Financial income +€14,114
up €14,114 (+68.4%), from €20,638 to €34,752
- Staff costs +€9,738
up €9,738 (+2.5%), from €390,580 to €400,318
- Taxes -€5,498
down €5,498 (-19.3%), from €28,510 to €23,011
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 | €698,219 | €768,857 | +€70,639 | +10.1% |
| Fixed assets | 21/28 | €27,799 | €43,955 | +€16,156 | +58.1% |
| Tangible fixed assets | 22/27 | €23,593 | €39,749 | +€16,156 | +68.5% |
| Plant, machinery and equipment | 23 | €17,030 | €13,782 | -€3,248 | -19.1% |
| Furniture and vehicles | 24 | €6,563 | €25,967 | +€19,404 | +295.7% |
| Financial fixed assets | 28 | €4,206 | €4,206 | = | 0.0% |
| Current assets | 29/58 | €670,420 | €724,902 | +€54,482 | +8.1% |
| Amounts receivable within one year | 40/41 | €234,577 | €175,017 | -€59,561 | -25.4% |
| Trade receivables | 40 | €217,640 | €156,707 | -€60,933 | -28.0% |
| Other amounts receivable | 41 | €16,937 | €18,310 | +€1,373 | +8.1% |
| Current investments | 50/53 | €161,296 | €101,517 | -€59,779 | -37.1% |
| Cash at bank and in hand | 54/58 | €259,139 | €434,360 | +€175,220 | +67.6% |
| Deferred charges and accrued income | 490/1 | €15,408 | €14,009 | -€1,399 | -9.1% |
| Total equity and liabilities | 10/49 | €698,219 | €768,857 | +€70,639 | +10.1% |
| Equity | 10/15 | €357,589 | €361,700 | +€4,111 | +1.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €236,715 | €340,826 | +€104,111 | +44.0% |
| Non-distributable reserves | 130/1 | €2,000 | €102,000 | +€100,000 | +5000.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Own shares acquired | 1312 | - | €100,000 | +€100,000 | |
| Distributable reserves | 133 | €234,715 | €238,826 | +€4,111 | +1.8% |
| Profit (loss) carried forward | 14 | €100,875 | €875 | -€100,000 | -99.1% |
| Amounts payable | 17/49 | €340,630 | €407,157 | +€66,527 | +19.5% |
| Amounts payable after more than one year | 17 | - | €77,962 | +€77,962 | |
| Financial debts | 170/4 | - | €77,962 | +€77,962 | |
| Amounts payable within one year | 42/48 | €303,648 | €291,889 | -€11,759 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | - | €18,935 | +€18,935 | |
| Trade debts | 44 | €137,231 | €154,065 | +€16,834 | +12.3% |
| Suppliers | 440/4 | €137,231 | €154,065 | +€16,834 | +12.3% |
| Taxes, remuneration and social security | 45 | €77,904 | €67,419 | -€10,486 | -13.5% |
| Taxes | 450/3 | €21,041 | €23,533 | +€2,492 | +11.8% |
| Remuneration and social security | 454/9 | €56,863 | €43,885 | -€12,978 | -22.8% |
| Other amounts payable | 47/48 | €88,512 | €51,469 | -€37,043 | -41.9% |
| Accrued charges and deferred income | 492/3 | €36,982 | €37,306 | +€324 | +0.9% |
| Remuneration, social security and pensions | 62 | €390,580 | €400,318 | +€9,738 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,256 | €13,140 | +€1,885 | +16.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€4,294 | -€915 | +€3,379 | +78.7% |
| Other operating charges | 640/8 | €30,752 | €35,951 | +€5,198 | +16.9% |
| Gross operating margin | 9900 | €529,916 | €495,064 | -€34,852 | -6.6% |
| Operating profit (loss) | 9901 | €101,622 | €46,570 | -€55,052 | -54.2% |
| Financial income | 75/76B | €20,638 | €34,752 | +€14,114 | +68.4% |
| Recurring financial income | 75 | €20,638 | €34,752 | +€14,114 | +68.4% |
| Financial charges | 65/66B | €1,928 | €2,972 | +€1,043 | +54.1% |
| Recurring financial charges | 65 | €1,928 | €2,972 | +€1,043 | +54.1% |
| Profit (loss) for the period before taxes | 9903 | €120,331 | €78,350 | -€41,981 | -34.9% |
| Income taxes | 67/77 | €28,510 | €23,011 | -€5,498 | -19.3% |
| Profit (loss) for the period | 9904 | €91,822 | €55,339 | -€36,483 | -39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €91,822 | €55,339 | -€36,483 | -39.7% |
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.