ABC: 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.
ABC
Largest movements
- Cash +€98,716
up €98,716 (+46.0%), from €214,818 to €313,534
mainly Net result for the year (+€87,129) and Depreciation (+€29,402)
- Tangible fixed assets -€27,503
down €27,503 (-10.5%), from €262,690 to €235,186
of which Land and buildings: -€20,639
- Stocks and contracts -€17,998
down €17,998 (-62.5%), from €28,814 to €10,816
- Reserves +€87,129
up €87,129 (+47.9%), from €182,046 to €269,175
- Current portion of long-term debt -€38,672
down €38,672 (-61.5%), from €62,857 to €24,186
- Debts after one year -€16,714
down €16,714 (-10.9%), from €153,357 to €136,644
- Trade debts +€13,488
up €13,488 (+24.6%), from €54,894 to €68,382
- Accrued charges and deferred income +€7,009
up €7,009 (+211%), from €3,319 to €10,328
- Gross operating margin -€56,117
down €56,117 (-11.6%), from €484,226 to €428,109
- Depreciation -€27,017
down €27,017 (-47.9%), from €56,419 to €29,402
- Staff costs +€17,194
up €17,194 (+7.0%), from €246,764 to €263,958
- Taxes +€14,372
up €14,372 (+64.7%), from €22,212 to €36,583
- Financial income -€5,269
down €5,269 (-100%), from €5,269 to €0
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 | €519,711 | €574,862 | +€55,150 | +10.6% |
| Fixed assets | 21/28 | €269,093 | €241,186 | -€27,907 | -10.4% |
| Intangible fixed assets | 21 | €1,016 | €612 | -€404 | -39.8% |
| Tangible fixed assets | 22/27 | €262,690 | €235,186 | -€27,503 | -10.5% |
| Land and buildings | 22 | €244,871 | €224,232 | -€20,639 | -8.4% |
| Plant, machinery and equipment | 23 | €7,283 | €5,282 | -€2,001 | -27.5% |
| Furniture and vehicles | 24 | €10,536 | €5,672 | -€4,864 | -46.2% |
| Financial fixed assets | 28 | €5,388 | €5,388 | = | 0.0% |
| Current assets | 29/58 | €250,618 | €333,676 | +€83,058 | +33.1% |
| Stocks and contracts in progress | 3 | €28,814 | €10,816 | -€17,998 | -62.5% |
| Stocks | 30/36 | €28,814 | €10,816 | -€17,998 | -62.5% |
| Amounts receivable within one year | 40/41 | €6,955 | €8,363 | +€1,408 | +20.2% |
| Trade receivables | 40 | €6,955 | €7,664 | +€710 | +10.2% |
| Other amounts receivable | 41 | €0 | €698 | +€698 | |
| Cash at bank and in hand | 54/58 | €214,818 | €313,534 | +€98,716 | +46.0% |
| Deferred charges and accrued income | 490/1 | €31 | €963 | +€932 | +2,987% |
| Total equity and liabilities | 10/49 | €519,711 | €574,862 | +€55,150 | +10.6% |
| Equity | 10/15 | €195,757 | €282,886 | +€87,129 | +44.5% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €182,046 | €269,175 | +€87,129 | +47.9% |
| Distributable reserves | 133 | €182,046 | €269,175 | +€87,129 | +47.9% |
| Profit (loss) carried forward | 14 | €13,711 | €13,711 | = | 0.0% |
| Amounts payable | 17/49 | €323,954 | €291,976 | -€31,978 | -9.9% |
| Amounts payable after more than one year | 17 | €153,357 | €136,644 | -€16,714 | -10.9% |
| Financial debts | 170/4 | €153,357 | €136,644 | -€16,714 | -10.9% |
| Amounts payable within one year | 42/48 | €167,277 | €145,004 | -€22,273 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €62,857 | €24,186 | -€38,672 | -61.5% |
| Trade debts | 44 | €54,894 | €68,382 | +€13,488 | +24.6% |
| Suppliers | 440/4 | €54,894 | €68,382 | +€13,488 | +24.6% |
| Taxes, remuneration and social security | 45 | €49,526 | €51,598 | +€2,072 | +4.2% |
| Taxes | 450/3 | €14,005 | €20,828 | +€6,823 | +48.7% |
| Remuneration and social security | 454/9 | €35,521 | €30,770 | -€4,751 | -13.4% |
| Other amounts payable | 47/48 | €0 | €838 | +€838 | |
| Accrued charges and deferred income | 492/3 | €3,319 | €10,328 | +€7,009 | +211% |
| Remuneration, social security and pensions | 62 | €246,764 | €263,958 | +€17,194 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,419 | €29,402 | -€27,017 | -47.9% |
| Other operating charges | 640/8 | €4,584 | €5,788 | +€1,205 | +26.3% |
| Gross operating margin | 9900 | €484,226 | €428,109 | -€56,117 | -11.6% |
| Operating profit (loss) | 9901 | €176,459 | €128,960 | -€47,499 | -26.9% |
| Financial income | 75/76B | €5,269 | €0 | -€5,269 | -100% |
| Recurring financial income | 75 | €5,269 | €0 | -€5,269 | -100% |
| Financial charges | 65/66B | €7,837 | €5,248 | -€2,589 | -33.0% |
| Recurring financial charges | 65 | €7,837 | €5,248 | -€2,589 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | €173,891 | €123,712 | -€50,179 | -28.9% |
| Income taxes | 67/77 | €22,212 | €36,583 | +€14,372 | +64.7% |
| Profit (loss) for the period | 9904 | €151,679 | €87,129 | -€64,550 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €151,679 | €87,129 | -€64,550 | -42.6% |
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 14 October 2026 via checked.be.