ALL PRODUCTS: 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 PRODUCTS
Largest movements
- Tangible fixed assets -€44,875
down €44,875 (-8.6%), from €523,428 to €478,553
of which Furniture and vehicles: -€25,501
- Receivables within one year -€27,802
down €27,802 (-16.3%), from €170,187 to €142,385
of which Trade receivables: -€22,522
- Cash +€11,249
up €11,249 (+12.9%), from €87,481 to €98,730
mainly Depreciation (+€51,308) and Receivables within one year (+€27,802)
- Trade debts -€53,846
down €53,846 (-29.7%), from €181,467 to €127,621
- Debts after one year -€38,799
down €38,799 (-25.9%), from €150,090 to €111,291
- Tax, wage and social debts +€24,752
up €24,752 (+33.7%), from €73,390 to €98,142
of which Taxes: +€20,665
- Profit (loss) carried forward +€20,485
up €20,485 (+22.8%), from -€89,746 to -€69,261
- Staff costs -€24,541
down €24,541 (-7.2%), from €338,640 to €314,099
- Gross operating margin +€12,930
up €12,930 (+3.2%), from €401,533 to €414,463
- Other operating charges +€5,988
up €5,988 (+72.5%), from €8,259 to €14,247
- Financial charges -€5,098
down €5,098 (-27.1%), from €18,803 to €13,705
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 | €1,032,305 | €972,749 | -€59,556 | -5.8% |
| Fixed assets | 21/28 | €523,508 | €478,633 | -€44,875 | -8.6% |
| Tangible fixed assets | 22/27 | €523,428 | €478,553 | -€44,875 | -8.6% |
| Land and buildings | 22 | €456,603 | €432,351 | -€24,252 | -5.3% |
| Plant, machinery and equipment | 23 | €1,974 | €4,239 | +€2,265 | +115% |
| Furniture and vehicles | 24 | €64,851 | €39,349 | -€25,501 | -39.3% |
| Other tangible fixed assets | 26 | - | €2,614 | +€2,614 | |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €508,797 | €494,116 | -€14,681 | -2.9% |
| Stocks and contracts in progress | 3 | €244,955 | €246,823 | +€1,867 | +0.8% |
| Stocks | 30/36 | €244,955 | €246,823 | +€1,867 | +0.8% |
| Amounts receivable within one year | 40/41 | €170,187 | €142,385 | -€27,802 | -16.3% |
| Trade receivables | 40 | €139,379 | €116,857 | -€22,522 | -16.2% |
| Other amounts receivable | 41 | €30,809 | €25,528 | -€5,280 | -17.1% |
| Cash at bank and in hand | 54/58 | €87,481 | €98,730 | +€11,249 | +12.9% |
| Deferred charges and accrued income | 490/1 | €6,174 | €6,178 | +€5 | +0.1% |
| Total equity and liabilities | 10/49 | €1,032,305 | €972,749 | -€59,556 | -5.8% |
| Equity | 10/15 | €435,445 | €455,930 | +€20,485 | +4.7% |
| Contributions | 10/11 | €6,208 | €6,208 | = | 0.0% |
| Reserves | 13 | €518,983 | €518,983 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,000 | €9,000 | = | 0.0% |
| Distributable reserves | 133 | €509,983 | €509,983 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€89,746 | -€69,261 | +€20,485 | +22.8% |
| Amounts payable | 17/49 | €596,860 | €516,820 | -€80,041 | -13.4% |
| Amounts payable after more than one year | 17 | €150,090 | €111,291 | -€38,799 | -25.9% |
| Financial debts | 170/4 | €150,090 | €111,291 | -€38,799 | -25.9% |
| Amounts payable within one year | 42/48 | €446,179 | €405,529 | -€40,650 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €42,723 | €38,799 | -€3,924 | -9.2% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €181,467 | €127,621 | -€53,846 | -29.7% |
| Suppliers | 440/4 | €181,467 | €127,621 | -€53,846 | -29.7% |
| Taxes, remuneration and social security | 45 | €73,390 | €98,142 | +€24,752 | +33.7% |
| Taxes | 450/3 | €18,245 | €38,910 | +€20,665 | +113% |
| Remuneration and social security | 454/9 | €55,145 | €59,232 | +€4,087 | +7.4% |
| Other amounts payable | 47/48 | €23,599 | €15,967 | -€7,632 | -32.3% |
| Accrued charges and deferred income | 492/3 | €592 | €0 | -€592 | -100% |
| Remuneration, social security and pensions | 62 | €338,640 | €314,099 | -€24,541 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,155 | €51,308 | -€3,847 | -7.0% |
| Other operating charges | 640/8 | €8,259 | €14,247 | +€5,988 | +72.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €401,533 | €414,463 | +€12,930 | +3.2% |
| Operating profit (loss) | 9901 | -€521 | €34,809 | +€35,329 | |
| Financial income | 75/76B | €2,782 | €140 | -€2,643 | -95.0% |
| Recurring financial income | 75 | €2,782 | €140 | -€2,643 | -95.0% |
| Financial charges | 65/66B | €18,803 | €13,705 | -€5,098 | -27.1% |
| Recurring financial charges | 65 | €18,803 | €13,705 | -€5,098 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€16,542 | €21,243 | +€37,785 | |
| Income taxes | 67/77 | €533 | €758 | +€226 | +42.3% |
| Profit (loss) for the period | 9904 | -€17,075 | €20,485 | +€37,560 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,075 | €20,485 | +€37,560 |
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 25 October 2026 via checked.be.