Afsnis: 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.
Afsnis
Largest movements
- Cash +€74,569
up €74,569 (+41.6%), from €179,304 to €253,873
mainly Receivables within one year (+€33,722) and Trade debts (+€25,253)
- Receivables within one year -€33,722
down €33,722 (-30.1%), from €111,932 to €78,210
of which Trade receivables: -€43,187
- Stocks and contracts -€11,648
down €11,648 (-50.1%), from €23,264 to €11,617
- Intangible fixed assets -€5,000
down €5,000 (-27.3%), from €18,301 to €13,301
- Trade debts +€25,253
up €25,253 (+21.6%), from €116,646 to €141,898
- Profit (loss) carried forward +€20,684
up €20,684 (+15.1%), from €136,877 to €157,561
- Tax, wage and social debts -€19,902
down €19,902 (-31.3%), from €63,526 to €43,624
of which Taxes: -€17,063
- Gross operating margin +€16,748
up €16,748 (+5.8%), from €286,808 to €303,556
- Staff costs +€14,836
up €14,836 (+7.2%), from €205,360 to €220,196
- Depreciation +€11,561
up €11,561 (+377.0%), from €3,067 to €14,628
- Other operating charges -€9,186
down €9,186 (-52.1%), from €17,622 to €8,436
- Financial charges +€8,789
up €8,789 (+257.4%), from €3,415 to €12,203
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 | €379,099 | €405,232 | +€26,133 | +6.9% |
| Fixed assets | 21/28 | €61,019 | €54,785 | -€6,234 | -10.2% |
| Intangible fixed assets | 21 | €18,301 | €13,301 | -€5,000 | -27.3% |
| Tangible fixed assets | 22/27 | €41,142 | €40,433 | -€709 | -1.7% |
| Land and buildings | 22 | €9,320 | €10,304 | +€984 | +10.6% |
| Plant, machinery and equipment | 23 | €27,139 | €25,023 | -€2,116 | -7.8% |
| Furniture and vehicles | 24 | - | €1,080 | +€1,080 | |
| Other tangible fixed assets | 26 | €4,684 | €4,027 | -€657 | -14.0% |
| Financial fixed assets | 28 | €1,575 | €1,050 | -€525 | -33.4% |
| Current assets | 29/58 | €318,080 | €350,447 | +€32,367 | +10.2% |
| Stocks and contracts in progress | 3 | €23,264 | €11,617 | -€11,648 | -50.1% |
| Stocks | 30/36 | €23,264 | €11,617 | -€11,648 | -50.1% |
| Amounts receivable within one year | 40/41 | €111,932 | €78,210 | -€33,722 | -30.1% |
| Trade receivables | 40 | €54,426 | €11,239 | -€43,187 | -79.3% |
| Other amounts receivable | 41 | €57,506 | €66,971 | +€9,465 | +16.5% |
| Cash at bank and in hand | 54/58 | €179,304 | €253,873 | +€74,569 | +41.6% |
| Deferred charges and accrued income | 490/1 | €3,580 | €6,748 | +€3,168 | +88.5% |
| Total equity and liabilities | 10/49 | €379,099 | €405,232 | +€26,133 | +6.9% |
| Equity | 10/15 | €196,877 | €217,561 | +€20,684 | +10.5% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,877 | €157,561 | +€20,684 | +15.1% |
| Amounts payable | 17/49 | €182,222 | €187,671 | +€5,449 | +3.0% |
| Amounts payable within one year | 42/48 | €182,222 | €187,671 | +€5,449 | +3.0% |
| Financial debts | 43 | €2,022 | €2,034 | +€12 | +0.6% |
| Credit institutions | 430/8 | €22 | €34 | +€12 | +54.5% |
| Other loans | 439 | €2,000 | €2,000 | = | 0.0% |
| Trade debts | 44 | €116,646 | €141,898 | +€25,253 | +21.6% |
| Suppliers | 440/4 | €116,646 | €141,898 | +€25,253 | +21.6% |
| Advances received on contracts in progress | 46 | €0 | €86 | +€86 | |
| Taxes, remuneration and social security | 45 | €63,526 | €43,624 | -€19,902 | -31.3% |
| Taxes | 450/3 | €42,091 | €25,028 | -€17,063 | -40.5% |
| Remuneration and social security | 454/9 | €21,436 | €18,597 | -€2,839 | -13.2% |
| Other amounts payable | 47/48 | €28 | €28 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €205,360 | €220,196 | +€14,836 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,067 | €14,628 | +€11,561 | +377.0% |
| Other operating charges | 640/8 | €17,622 | €8,436 | -€9,186 | -52.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €286,808 | €303,556 | +€16,748 | +5.8% |
| Operating profit (loss) | 9901 | €60,759 | €60,297 | -€462 | -0.8% |
| Financial income | 75/76B | €43 | €455 | +€412 | +956.1% |
| Recurring financial income | 75 | €43 | €455 | +€412 | +956.1% |
| Financial charges | 65/66B | €3,415 | €12,203 | +€8,789 | +257.4% |
| Recurring financial charges | 65 | €3,415 | €12,203 | +€8,789 | +257.4% |
| Profit (loss) for the period before taxes | 9903 | €57,387 | €48,548 | -€8,839 | -15.4% |
| Income taxes | 67/77 | €36,446 | €27,865 | -€8,581 | -23.5% |
| Profit (loss) for the period | 9904 | €20,941 | €20,684 | -€258 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,941 | €20,684 | -€258 | -1.2% |
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 3 October 2026 via checked.be.