All Active Trading: 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.
All Active Trading
Largest movements
- Stocks and contracts -€534,785
down €534,785 (-35.5%), from €1.5m to €970,248
- Tangible fixed assets -€35,579
down €35,579 (-10.3%), from €345,976 to €310,397
of which Land and buildings: -€31,159
- Cash +€27,285
up €27,285 (+106%), from €25,636 to €52,920
mainly Stocks and contracts (+€534,785) and Depreciation (+€36,658)
- Other debts -€372,375
down €372,375 (-24.8%), from €1.5m to €1.1m
- Profit (loss) carried forward -€68,953
down €68,953 (-209%), from -€32,945 to -€101,898
- Debts after one year -€55,555
down €55,555 (-39.4%), from €140,956 to €85,401
- Trade debts -€52,935
down €52,935 (-99.3%), from €53,308 to €373
- Current portion of long-term debt +€25,366
up €25,366 (+84.0%), from €30,189 to €55,555
- Financial charges +€46,660
up €46,660 (+243%), from €19,208 to €65,868
- Gross operating margin -€20,646
down €20,646 (-21.8%), from €94,591 to €73,945
- Staff costs +€2,011
up €2,011 (+5.4%), from €37,230 to €39,241
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 | €1,878,910 | €1,344,570 | -€534,340 | -28.4% |
| Formation expenses | 20 | €710 | €101 | -€609 | -85.8% |
| Fixed assets | 21/28 | €345,976 | €310,397 | -€35,579 | -10.3% |
| Tangible fixed assets | 22/27 | €345,976 | €310,397 | -€35,579 | -10.3% |
| Land and buildings | 22 | €337,319 | €306,160 | -€31,159 | -9.2% |
| Plant, machinery and equipment | 23 | €8,313 | €4,158 | -€4,155 | -50.0% |
| Furniture and vehicles | 24 | €344 | €78 | -€265 | -77.2% |
| Current assets | 29/58 | €1,532,224 | €1,034,073 | -€498,152 | -32.5% |
| Stocks and contracts in progress | 3 | €1,505,033 | €970,248 | -€534,785 | -35.5% |
| Stocks | 30/36 | €1,505,033 | €970,248 | -€534,785 | -35.5% |
| Amounts receivable within one year | 40/41 | €1,467 | €10,904 | +€9,437 | +643% |
| Trade receivables | 40 | €1,467 | €8,687 | +€7,220 | +492% |
| Other amounts receivable | 41 | - | €2,217 | +€2,217 | |
| Cash at bank and in hand | 54/58 | €25,636 | €52,920 | +€27,285 | +106% |
| Deferred charges and accrued income | 490/1 | €89 | - | -€89 | |
| Total equity and liabilities | 10/49 | €1,878,910 | €1,344,570 | -€534,340 | -28.4% |
| Equity | 10/15 | €7,087 | -€61,866 | -€68,953 | |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €28,032 | €28,032 | = | 0.0% |
| Distributable reserves | 133 | €28,032 | €28,032 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,945 | -€101,898 | -€68,953 | -209% |
| Amounts payable | 17/49 | €1,871,823 | €1,406,437 | -€465,386 | -24.9% |
| Amounts payable after more than one year | 17 | €140,956 | €85,401 | -€55,555 | -39.4% |
| Financial debts | 170/4 | €140,956 | €85,401 | -€55,555 | -39.4% |
| Amounts payable within one year | 42/48 | €1,730,867 | €1,321,035 | -€409,832 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €30,189 | €55,555 | +€25,366 | +84.0% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €53,308 | €373 | -€52,935 | -99.3% |
| Suppliers | 440/4 | €53,308 | €373 | -€52,935 | -99.3% |
| Taxes, remuneration and social security | 45 | €18,819 | €8,932 | -€9,888 | -52.5% |
| Taxes | 450/3 | €10,333 | €8,932 | -€1,401 | -13.6% |
| Remuneration and social security | 454/9 | €8,487 | - | -€8,487 | |
| Other amounts payable | 47/48 | €1,503,550 | €1,131,176 | -€372,375 | -24.8% |
| Remuneration, social security and pensions | 62 | €37,230 | €39,241 | +€2,011 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,000 | €36,658 | -€342 | -0.9% |
| Other operating charges | 640/8 | €1,300 | €1,805 | +€505 | +38.8% |
| Gross operating margin | 9900 | €94,591 | €73,945 | -€20,646 | -21.8% |
| Operating profit (loss) | 9901 | €19,061 | -€3,760 | -€22,820 | |
| Financial income | 75/76B | €849 | €675 | -€175 | -20.6% |
| Recurring financial income | 75 | €849 | €675 | -€175 | -20.6% |
| Financial charges | 65/66B | €19,208 | €65,868 | +€46,660 | +243% |
| Recurring financial charges | 65 | €19,208 | €65,868 | +€46,660 | +243% |
| Profit (loss) for the period before taxes | 9903 | €702 | -€68,953 | -€69,655 | |
| Profit (loss) for the period | 9904 | €702 | -€68,953 | -€69,655 | |
| Profit (loss) for the period to be appropriated | 9905 | €702 | -€68,953 | -€69,655 |
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 17 October 2026 via checked.be.