ALL-EVENTS: 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-EVENTS
Largest movements
- Tangible fixed assets +€190,886
up €190,886 (+4.7%), from €4.0m to €4.2m
of which Plant, machinery and equipment: +€209,152
- Receivables within one year +€78,989
up €78,989 (+9.8%), from €805,198 to €884,187
of which Trade receivables: +€90,087
- Cash +€58,553
up €58,553 (+12.3%), from €475,630 to €534,183
mainly Depreciation (+€975,542) and Accrued charges and deferred income (+€262,818)
- Accrued charges and deferred income +€262,818
up €262,818 (+86.3%), from €304,696 to €567,514
- Profit (loss) carried forward +€120,630
up €120,630 (+13.2%), from €914,494 to €1.0m
- Trade debts +€98,271
up €98,271 (+32.3%), from €304,579 to €402,850
- Reserves -€96,100
down €96,100 (-5.6%), from €1.7m to €1.6m
of which Tax-exempt reserves: -€96,100
- Provisions -€64,682
down €64,682 (-13.6%), from €475,541 to €410,859
- Gross operating margin -€599,455
down €599,455 (-26.3%), from €2.3m to €1.7m
- Depreciation +€288,919
up €288,919 (+42.1%), from €686,623 to €975,542
- Taxes -€79,570
down €79,570 (-70.8%), from €112,312 to €32,742
- Staff costs +€72,309
up €72,309 (+12.3%), from €586,772 to €659,081
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 | €5,368,040 | €5,739,016 | +€370,976 | +6.9% |
| Fixed assets | 21/28 | €4,022,053 | €4,223,709 | +€201,656 | +5.0% |
| Tangible fixed assets | 22/27 | €4,019,103 | €4,209,989 | +€190,886 | +4.7% |
| Land and buildings | 22 | €913,412 | €880,022 | -€33,390 | -3.7% |
| Plant, machinery and equipment | 23 | €2,923,353 | €3,132,505 | +€209,152 | +7.2% |
| Furniture and vehicles | 24 | €114,038 | €88,315 | -€25,723 | -22.6% |
| Leasing and similar rights | 25 | €61,553 | €75,411 | +€13,858 | +22.5% |
| Other tangible fixed assets | 26 | €6,747 | €33,736 | +€26,989 | +400% |
| Financial fixed assets | 28 | €2,950 | €13,720 | +€10,770 | +365% |
| Current assets | 29/58 | €1,345,987 | €1,515,307 | +€169,320 | +12.6% |
| Stocks and contracts in progress | 3 | €38,875 | €64,555 | +€25,680 | +66.1% |
| Stocks | 30/36 | €38,875 | €64,555 | +€25,680 | +66.1% |
| Amounts receivable within one year | 40/41 | €805,198 | €884,187 | +€78,989 | +9.8% |
| Trade receivables | 40 | €448,132 | €538,219 | +€90,087 | +20.1% |
| Other amounts receivable | 41 | €357,066 | €345,968 | -€11,098 | -3.1% |
| Cash at bank and in hand | 54/58 | €475,630 | €534,183 | +€58,553 | +12.3% |
| Deferred charges and accrued income | 490/1 | €26,284 | €32,382 | +€6,098 | +23.2% |
| Total equity and liabilities | 10/49 | €5,368,040 | €5,739,016 | +€370,976 | +6.9% |
| Equity | 10/15 | €2,641,723 | €2,666,253 | +€24,530 | +0.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,707,229 | €1,611,129 | -€96,100 | -5.6% |
| Tax-exempt reserves | 132 | €1,570,229 | €1,474,129 | -€96,100 | -6.1% |
| Distributable reserves | 133 | €137,000 | €137,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €914,494 | €1,035,124 | +€120,630 | +13.2% |
| Provisions and deferred taxes | 16 | €475,541 | €410,859 | -€64,682 | -13.6% |
| Deferred taxes | 168 | €475,541 | €410,859 | -€64,682 | -13.6% |
| Amounts payable | 17/49 | €2,250,776 | €2,661,904 | +€411,128 | +18.3% |
| Amounts payable after more than one year | 17 | €967,496 | €1,028,912 | +€61,416 | +6.3% |
| Financial debts | 170/4 | €967,496 | €1,028,912 | +€61,416 | +6.3% |
| Amounts payable within one year | 42/48 | €978,584 | €1,065,478 | +€86,894 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €521,443 | €555,401 | +€33,958 | +6.5% |
| Financial debts | 43 | €62,904 | €20,259 | -€42,645 | -67.8% |
| Credit institutions | 430/8 | €62,904 | €20,259 | -€42,645 | -67.8% |
| Trade debts | 44 | €304,579 | €402,850 | +€98,271 | +32.3% |
| Suppliers | 440/4 | €304,579 | €402,850 | +€98,271 | +32.3% |
| Taxes, remuneration and social security | 45 | €89,658 | €71,968 | -€17,690 | -19.7% |
| Taxes | 450/3 | €15,198 | €14,762 | -€436 | -2.9% |
| Remuneration and social security | 454/9 | €74,460 | €57,206 | -€17,254 | -23.2% |
| Other amounts payable | 47/48 | - | €15,000 | +€15,000 | |
| Accrued charges and deferred income | 492/3 | €304,696 | €567,514 | +€262,818 | +86.3% |
| Remuneration, social security and pensions | 62 | €586,772 | €659,081 | +€72,309 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €686,623 | €975,542 | +€288,919 | +42.1% |
| Other operating charges | 640/8 | €23,975 | €22,940 | -€1,035 | -4.3% |
| Non-recurring operating charges | 66A | - | €873 | +€873 | |
| Gross operating margin | 9900 | €2,283,425 | €1,683,970 | -€599,455 | -26.3% |
| Operating profit (loss) | 9901 | €986,055 | €25,534 | -€960,521 | -97.4% |
| Financial income | 75/76B | €5,104 | €8,603 | +€3,499 | +68.6% |
| Recurring financial income | 75 | €5,104 | €8,603 | +€3,499 | +68.6% |
| Financial charges | 65/66B | €22,067 | €41,546 | +€19,479 | +88.3% |
| Recurring financial charges | 65 | €22,067 | €41,546 | +€19,479 | +88.3% |
| Profit (loss) for the period before taxes | 9903 | €969,092 | -€7,409 | -€976,501 | |
| Transfer from deferred taxes | 780 | €101,368 | €139,682 | +€38,314 | +37.8% |
| Transfer to deferred taxes | 680 | €217,586 | €75,000 | -€142,586 | -65.5% |
| Income taxes | 67/77 | €112,312 | €32,742 | -€79,570 | -70.8% |
| Profit (loss) for the period | 9904 | €740,562 | €24,531 | -€716,031 | -96.7% |
| Transfer from tax-exempt reserves | 789 | €304,149 | €419,045 | +€114,896 | +37.8% |
| Transfer to tax-exempt reserves | 689 | €585,912 | €322,946 | -€262,966 | -44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €458,799 | €120,630 | -€338,169 | -73.7% |
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 23 October 2026 via checked.be.