All Security Construct: 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.
All Security Construct
Largest movements
- Tangible fixed assets +€141,406
up €141,406 (+1087.7%), from €13,000 to €154,407
of which Land and buildings: +€148,039
- Receivables within one year -€40,468
down €40,468 (-48.5%), from €83,404 to €42,936
of which Trade receivables: -€38,866
- Cash +€8,707
up €8,707 (+30.2%), from €28,848 to €37,555
mainly Debts after one year (+€111,536) and Receivables within one year (+€40,468)
- Debts after one year +€111,536
up €111,536 (+3265.4%), from €3,416 to €114,952
- Profit (loss) carried forward +€31,733
up €31,733 (+105.3%), from €30,134 to €61,866
- Trade debts -€31,673
down €31,673 (-50.3%), from €62,939 to €31,266
of which Bills of exchange payable: -€27,523
- Tax, wage and social debts -€4,362
down €4,362 (-40.2%), from €10,844 to €6,482
- Current portion of long-term debt +€3,212
up €3,212 (+92.8%), from €3,460 to €6,672
- Turnover +€88,280
up €88,280 (+22.9%), from €384,825 to €473,105
- Purchases and services +€48,089
up €48,089 (+13.3%), from €360,829 to €408,917
- Gross operating margin +€30,813
up €30,813 (+65.6%), from €46,991 to €77,804
- Other operating charges +€20,419
up €20,419 (+630.4%), from €3,239 to €23,658
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 | €125,253 | €235,698 | +€110,446 | +88.2% |
| Fixed assets | 21/28 | €13,000 | €154,407 | +€141,406 | +1087.7% |
| Tangible fixed assets | 22/27 | €13,000 | €154,407 | +€141,406 | +1087.7% |
| Land and buildings | 22 | - | €148,039 | +€148,039 | |
| Plant, machinery and equipment | 23 | €1,597 | €2,597 | +€1,000 | +62.6% |
| Furniture and vehicles | 24 | €7,204 | €3,337 | -€3,867 | -53.7% |
| Leasing and similar rights | 25 | €4,199 | €433 | -€3,766 | -89.7% |
| Current assets | 29/58 | €112,253 | €81,292 | -€30,961 | -27.6% |
| Amounts receivable within one year | 40/41 | €83,404 | €42,936 | -€40,468 | -48.5% |
| Trade receivables | 40 | €77,156 | €38,290 | -€38,866 | -50.4% |
| Other amounts receivable | 41 | €6,248 | €4,646 | -€1,602 | -25.6% |
| Cash at bank and in hand | 54/58 | €28,848 | €37,555 | +€8,707 | +30.2% |
| Deferred charges and accrued income | 490/1 | - | €800 | +€800 | |
| Total equity and liabilities | 10/49 | €125,253 | €235,698 | +€110,446 | +88.2% |
| Equity | 10/15 | €44,594 | €76,326 | +€31,733 | +71.2% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Capital | 10 | €12,600 | - | -€12,600 | |
| Issued capital | 100 | €12,600 | - | -€12,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,134 | €61,866 | +€31,733 | +105.3% |
| Amounts payable | 17/49 | €80,659 | €159,372 | +€78,713 | +97.6% |
| Amounts payable after more than one year | 17 | €3,416 | €114,952 | +€111,536 | +3265.4% |
| Financial debts | 170/4 | €3,416 | €114,952 | +€111,536 | +3265.4% |
| Amounts payable within one year | 42/48 | €77,243 | €44,420 | -€32,823 | -42.5% |
| Current portion of amounts payable after more than one year | 42 | €3,460 | €6,672 | +€3,212 | +92.8% |
| Trade debts | 44 | €62,939 | €31,266 | -€31,673 | -50.3% |
| Suppliers | 440/4 | €35,417 | €31,266 | -€4,150 | -11.7% |
| Bills of exchange payable | 441 | €27,523 | - | -€27,523 | |
| Taxes, remuneration and social security | 45 | €10,844 | €6,482 | -€4,362 | -40.2% |
| Taxes | 450/3 | €10,844 | €6,482 | -€4,362 | -40.2% |
| Turnover | 70 | €384,825 | €473,105 | +€88,280 | +22.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €360,829 | €408,917 | +€48,089 | +13.3% |
| Remuneration, social security and pensions | 62 | €2,090 | €18 | -€2,073 | -99.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,514 | €10,027 | +€1,513 | +17.8% |
| Other operating charges | 640/8 | €3,239 | €23,658 | +€20,419 | +630.4% |
| Gross operating margin | 9900 | €46,991 | €77,804 | +€30,813 | +65.6% |
| Operating profit (loss) | 9901 | €33,148 | €44,101 | +€10,954 | +33.0% |
| Financial income | 75/76B | €174 | €415 | +€241 | +138.7% |
| Recurring financial income | 75 | €174 | €415 | +€241 | +138.7% |
| Financial charges | 65/66B | €827 | €1,702 | +€875 | +105.7% |
| Recurring financial charges | 65 | €827 | €1,702 | +€875 | +105.7% |
| Profit (loss) for the period before taxes | 9903 | €32,494 | €42,815 | +€10,321 | +31.8% |
| Income taxes | 67/77 | €8,472 | €11,082 | +€2,610 | +30.8% |
| Profit (loss) for the period | 9904 | €24,022 | €31,733 | +€7,710 | +32.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,022 | €31,733 | +€7,710 | +32.1% |
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 6 October 2026 via checked.be.