(a)traction: 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)traction
Largest movements
- Cash -€27,300
down €27,300 (-16.2%), from €168,990 to €141,690
mainly Debts after one year (-€41,601) and Contributions, distributions and other (-€13,283)
- Tangible fixed assets -€6,216
down €6,216 (-50.3%), from €12,351 to €6,134
of which Plant, machinery and equipment: -€5,603
- Debts after one year -€41,601
down €41,601 (-87.8%), from €47,383 to €5,782
- Reserves +€7,227
up €7,227 (+4.8%), from €151,797 to €159,024
- Trade debts +€4,823
up €4,823 (+193%), from €2,499 to €7,322
- Tax, wage and social debts -€2,494
down €2,494 (-29.8%), from €8,382 to €5,888
- Gross operating margin -€22,912
down €22,912 (-37.2%), from €61,544 to €38,632
- Taxes -€6,334
down €6,334 (-36.2%), from €17,495 to €11,162
- Write-downs +€2,194
up €2,194 (+92.9%), from -€2,360 to -€166
- Depreciation -€1,264
down €1,264 (-15.0%), from €8,428 to €7,164
- Financial income +€1,065
up €1,065 (+1,148%), from €93 to €1,158
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.
Derived cash bridge
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 | €230,775 | €198,084 | -€32,692 | -14.2% |
| Fixed assets | 21/28 | €12,441 | €6,225 | -€6,216 | -50.0% |
| Tangible fixed assets | 22/27 | €12,351 | €6,134 | -€6,216 | -50.3% |
| Plant, machinery and equipment | 23 | €11,610 | €6,007 | -€5,603 | -48.3% |
| Furniture and vehicles | 24 | €741 | €128 | -€613 | -82.8% |
| Financial fixed assets | 28 | €91 | €91 | = | 0.0% |
| Current assets | 29/58 | €218,334 | €191,859 | -€26,475 | -12.1% |
| Stocks and contracts in progress | 3 | €342 | €300 | -€42 | -12.2% |
| Stocks | 30/36 | €342 | €300 | -€42 | -12.2% |
| Amounts receivable within one year | 40/41 | €48,555 | €49,628 | +€1,073 | +2.2% |
| Trade receivables | 40 | €48,356 | €48,529 | +€173 | +0.4% |
| Other amounts receivable | 41 | €199 | €1,099 | +€900 | +453% |
| Cash at bank and in hand | 54/58 | €168,990 | €141,690 | -€27,300 | -16.2% |
| Deferred charges and accrued income | 490/1 | €447 | €241 | -€207 | -46.2% |
| Total equity and liabilities | 10/49 | €230,775 | €198,084 | -€32,692 | -14.2% |
| Equity | 10/15 | €170,389 | €177,616 | +€7,227 | +4.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €151,797 | €159,024 | +€7,227 | +4.8% |
| Distributable reserves | 133 | €151,797 | €159,024 | +€7,227 | +4.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €60,386 | €20,468 | -€39,918 | -66.1% |
| Amounts payable after more than one year | 17 | €47,383 | €5,782 | -€41,601 | -87.8% |
| Financial debts | 170/4 | €47,383 | €5,782 | -€41,601 | -87.8% |
| Amounts payable within one year | 42/48 | €13,003 | €14,686 | +€1,683 | +12.9% |
| Trade debts | 44 | €2,499 | €7,322 | +€4,823 | +193% |
| Suppliers | 440/4 | €2,499 | €7,322 | +€4,823 | +193% |
| Taxes, remuneration and social security | 45 | €8,382 | €5,888 | -€2,494 | -29.8% |
| Taxes | 450/3 | €8,382 | €5,888 | -€2,494 | -29.8% |
| Other amounts payable | 47/48 | €2,122 | €1,476 | -€646 | -30.4% |
| Non-recurring operating income | 76A | €2,211 | €2,300 | +€89 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,428 | €7,164 | -€1,264 | -15.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,360 | -€166 | +€2,194 | +92.9% |
| Other operating charges | 640/8 | €1,036 | €610 | -€426 | -41.1% |
| Non-recurring operating charges | 66A | €2,600 | €0 | -€2,600 | -100% |
| Gross operating margin | 9900 | €61,544 | €38,632 | -€22,912 | -37.2% |
| Operating profit (loss) | 9901 | €51,840 | €31,024 | -€20,816 | -40.2% |
| Financial income | 75/76B | €93 | €1,158 | +€1,065 | +1,148% |
| Recurring financial income | 75 | €93 | €1,158 | +€1,065 | +1,148% |
| Financial charges | 65/66B | €681 | €511 | -€170 | -25.0% |
| Recurring financial charges | 65 | €681 | €511 | -€170 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €51,252 | €31,672 | -€19,580 | -38.2% |
| Income taxes | 67/77 | €17,495 | €11,162 | -€6,334 | -36.2% |
| Profit (loss) for the period | 9904 | €33,756 | €20,510 | -€13,247 | -39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €33,756 | €20,510 | -€13,247 | -39.2% |
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 14 October 2026 via checked.be.