ADJUST: 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.
ADJUST
Largest movements
- Cash -€106,193
down €106,193 (-17.8%), from €597,401 to €491,207
mainly Contributions, distributions and other (-€160,000) and Trade debts (-€80,374)
- Current investments +€37,000
up €37,000 (+48.7%), from €76,000 to €113,000
- Tangible fixed assets -€30,098
down €30,098 (-52.9%), from €56,907 to €26,809
- Receivables within one year +€17,421
up €17,421 (+4.4%), from €397,871 to €415,292
of which Trade receivables: +€13,088
- Trade debts -€80,374
down €80,374 (-51.3%), from €156,769 to €76,394
- Other debts +€54,167
up €54,167 (+40.4%), from €134,081 to €188,249
- Tax, wage and social debts -€49,565
down €49,565 (-29.5%), from €168,284 to €118,720
of which Taxes: -€47,505
- Reserves +€33,680
up €33,680 (+8.9%), from €377,652 to €411,332
of which Distributable reserves: +€75,780
- Profit (loss) carried forward -€32,215
down €32,215 (-10.4%), from €310,215 to €278,000
- Turnover +€1.8m
new in 2024: €1.8m
- Purchases and services +€1.4m
new in 2024: €1.4m
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 | €1,256,369 | €1,170,093 | -€86,276 | -6.9% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €175,274 | €146,676 | -€28,598 | -16.3% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €56,907 | €26,809 | -€30,098 | -52.9% |
| Furniture and vehicles | 24 | €56,907 | €26,809 | -€30,098 | -52.9% |
| Financial fixed assets | 28 | €118,367 | €119,867 | +€1,500 | +1.3% |
| Current assets | 29/58 | €1,081,095 | €1,023,417 | -€57,678 | -5.3% |
| Amounts receivable within one year | 40/41 | €397,871 | €415,292 | +€17,421 | +4.4% |
| Trade receivables | 40 | €397,871 | €410,959 | +€13,088 | +3.3% |
| Other amounts receivable | 41 | - | €4,333 | +€4,333 | |
| Current investments | 50/53 | €76,000 | €113,000 | +€37,000 | +48.7% |
| Cash at bank and in hand | 54/58 | €597,401 | €491,207 | -€106,193 | -17.8% |
| Deferred charges and accrued income | 490/1 | €9,823 | €3,918 | -€5,905 | -60.1% |
| Total equity and liabilities | 10/49 | €1,256,369 | €1,170,093 | -€86,276 | -6.9% |
| Equity | 10/15 | €706,467 | €707,932 | +€1,465 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €377,652 | €411,332 | +€33,680 | +8.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €161,872 | €119,772 | -€42,100 | -26.0% |
| Distributable reserves | 133 | €213,920 | €289,700 | +€75,780 | +35.4% |
| Profit (loss) carried forward | 14 | €310,215 | €278,000 | -€32,215 | -10.4% |
| Amounts payable | 17/49 | €549,902 | €462,161 | -€87,741 | -16.0% |
| Amounts payable after more than one year | 17 | €37,579 | €24,236 | -€13,343 | -35.5% |
| Financial debts | 170/4 | €37,579 | €24,236 | -€13,343 | -35.5% |
| Amounts payable within one year | 42/48 | €472,087 | €396,705 | -€75,382 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €12,953 | €13,343 | +€390 | +3.0% |
| Trade debts | 44 | €156,769 | €76,394 | -€80,374 | -51.3% |
| Suppliers | 440/4 | €156,769 | €76,394 | -€80,374 | -51.3% |
| Taxes, remuneration and social security | 45 | €168,284 | €118,720 | -€49,565 | -29.5% |
| Taxes | 450/3 | €146,415 | €98,910 | -€47,505 | -32.4% |
| Remuneration and social security | 454/9 | €21,869 | €19,810 | -€2,059 | -9.4% |
| Other amounts payable | 47/48 | €134,081 | €188,249 | +€54,167 | +40.4% |
| Accrued charges and deferred income | 492/3 | €40,236 | €41,219 | +€983 | +2.4% |
| Turnover | 70 | - | €1,798,800 | +€1.8m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €1,439,971 | +€1.4m | |
| Remuneration, social security and pensions | 62 | €133,125 | €134,274 | +€1,149 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,877 | €32,759 | -€3,118 | -8.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,335 | +€9,335 | |
| Other operating charges | 640/8 | €1,483 | €968 | -€515 | -34.7% |
| Gross operating margin | 9900 | €372,667 | €389,401 | +€16,734 | +4.5% |
| Operating profit (loss) | 9901 | €202,183 | €212,066 | +€9,884 | +4.9% |
| Financial income | 75/76B | €2,616 | €6,531 | +€3,915 | +149.6% |
| Recurring financial income | 75 | €2,616 | €6,531 | +€3,915 | +149.6% |
| Financial charges | 65/66B | €1,975 | €1,829 | -€146 | -7.4% |
| Recurring financial charges | 65 | €1,975 | €1,829 | -€146 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €202,824 | €216,769 | +€13,945 | +6.9% |
| Income taxes | 67/77 | €52,787 | €55,304 | +€2,517 | +4.8% |
| Profit (loss) for the period | 9904 | €150,037 | €161,465 | +€11,428 | +7.6% |
| Transfer from tax-exempt reserves | 789 | €17,800 | €75,780 | +€57,980 | +325.7% |
| Transfer to tax-exempt reserves | 689 | €42,100 | €33,680 | -€8,420 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €125,737 | €203,565 | +€77,828 | +61.9% |
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 1 October 2026 via checked.be.