ADD VALUE: 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.
ADD VALUE
Largest movements
- Cash -€136,181
down €136,181 (-82.1%), from €165,933 to €29,752
mainly Contributions, distributions and other (-€150,000) and Tax, wage and social debts (-€38,814)
- Receivables within one year +€17,289
up €17,289 (+19.7%), from €87,538 to €104,827
of which Trade receivables: +€20,216
- Reserves -€119,458
down €119,458 (-73.2%), from €163,191 to €43,733
- Tax, wage and social debts -€38,814
down €38,814 (-61.4%), from €63,187 to €24,373
of which Taxes: -€37,246
- Short-term financial debts +€17,381
new in 2024: €17,381
- Trade debts +€13,725
up €13,725 (+37.8%), from €36,347 to €50,072
- Other debts +€9,077
new in 2024: €9,077
- Staff costs +€49,164
up €49,164 (+82.7%), from €59,441 to €108,605
- Gross operating margin +€26,629
up €26,629 (+20.0%), from €133,456 to €160,085
- Taxes -€5,441
down €5,441 (-30.2%), from €18,012 to €12,571
- Write-downs -€3,400
down €3,400 (-100.0%), from €3,400 to €0
- Other operating charges +€3,240
up €3,240 (+149.3%), from €2,170 to €5,410
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €267,725 | €149,635 | -€118,089 | -44.1% |
| Fixed assets | 21/28 | €13,632 | €15,057 | +€1,425 | +10.5% |
| Tangible fixed assets | 22/27 | €1,632 | €3,057 | +€1,425 | +87.3% |
| Plant, machinery and equipment | 23 | €1,632 | €351 | -€1,281 | -78.5% |
| Furniture and vehicles | 24 | - | €2,706 | +€2,706 | |
| Financial fixed assets | 28 | €12,000 | €12,000 | = | 0.0% |
| Current assets | 29/58 | €254,092 | €134,578 | -€119,514 | -47.0% |
| Amounts receivable within one year | 40/41 | €87,538 | €104,827 | +€17,289 | +19.7% |
| Trade receivables | 40 | €74,033 | €94,249 | +€20,216 | +27.3% |
| Other amounts receivable | 41 | €13,505 | €10,578 | -€2,927 | -21.7% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €165,933 | €29,752 | -€136,181 | -82.1% |
| Deferred charges and accrued income | 490/1 | €621 | €0 | -€621 | -100.0% |
| Total equity and liabilities | 10/49 | €267,725 | €149,635 | -€118,089 | -44.1% |
| Equity | 10/15 | €168,191 | €48,733 | -€119,458 | -71.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €163,191 | €43,733 | -€119,458 | -73.2% |
| Distributable reserves | 133 | €163,191 | €43,733 | -€119,458 | -73.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €99,534 | €100,903 | +€1,369 | +1.4% |
| Amounts payable within one year | 42/48 | €99,534 | €100,903 | +€1,369 | +1.4% |
| Financial debts | 43 | - | €17,381 | +€17,381 | |
| Credit institutions | 430/8 | - | €17,381 | +€17,381 | |
| Trade debts | 44 | €36,347 | €50,072 | +€13,725 | +37.8% |
| Suppliers | 440/4 | €36,347 | €50,072 | +€13,725 | +37.8% |
| Taxes, remuneration and social security | 45 | €63,187 | €24,373 | -€38,814 | -61.4% |
| Taxes | 450/3 | €55,926 | €18,681 | -€37,246 | -66.6% |
| Remuneration and social security | 454/9 | €7,261 | €5,692 | -€1,568 | -21.6% |
| Other amounts payable | 47/48 | - | €9,077 | +€9,077 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €59,441 | €108,605 | +€49,164 | +82.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,492 | €1,447 | -€45 | -3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,400 | €0 | -€3,400 | -100.0% |
| Other operating charges | 640/8 | €2,170 | €5,410 | +€3,240 | +149.3% |
| Gross operating margin | 9900 | €133,456 | €160,085 | +€26,629 | +20.0% |
| Operating profit (loss) | 9901 | €66,953 | €44,624 | -€22,330 | -33.4% |
| Financial income | 75/76B | €296 | €364 | +€68 | +22.9% |
| Recurring financial income | 75 | €296 | €364 | +€68 | +22.9% |
| Financial charges | 65/66B | €957 | €1,875 | +€918 | +95.9% |
| Recurring financial charges | 65 | €957 | €1,875 | +€918 | +95.9% |
| Profit (loss) for the period before taxes | 9903 | €66,293 | €43,113 | -€23,180 | -35.0% |
| Income taxes | 67/77 | €18,012 | €12,571 | -€5,441 | -30.2% |
| Profit (loss) for the period | 9904 | €48,280 | €30,542 | -€17,739 | -36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €48,280 | €30,542 | -€17,739 | -36.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.