All-Signs: 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-Signs
Largest movements
- Tangible fixed assets +€64,864
up €64,864 (+385%), from €16,846 to €81,710
of which Plant, machinery and equipment: +€78,602
- Receivables within one year -€49,111
down €49,111 (-32.1%), from €152,955 to €103,844
of which Trade receivables: -€58,113
- Cash -€13,826
down €13,826 (-9.5%), from €145,651 to €131,825
mainly Investment in fixed assets (net) (-€68,150) and Trade debts (-€56,938)
- Trade debts -€56,938
down €56,938 (-32.5%), from €175,020 to €118,083
- Debts after one year +€43,841
new in 2025: €43,841
- Tax, wage and social debts -€12,290
down €12,290 (-24.9%), from €49,377 to €37,087
of which Taxes: -€15,456
- Current portion of long-term debt +€9,400
up €9,400 (+1,028%), from €914 to €10,314
- Reserves +€7,891
up €7,891 (+13.2%), from €59,985 to €67,876
of which Distributable reserves: +€7,891
- Financial charges -€31,235
down €31,235 (-93.9%), from €33,261 to €2,026
- Staff costs -€19,761
down €19,761 (-9.6%), from €206,087 to €186,327
- Depreciation -€7,023
down €7,023 (-54.4%), from €12,908 to €5,885
- Gross operating margin -€4,486
down €4,486 (-2.1%), from €209,810 to €205,324
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 | €349,551 | €347,907 | -€1,644 | -0.5% |
| Fixed assets | 21/28 | €21,220 | €83,486 | +€62,265 | +293% |
| Intangible fixed assets | 21 | €2,599 | - | -€2,599 | |
| Tangible fixed assets | 22/27 | €16,846 | €81,710 | +€64,864 | +385% |
| Land and buildings | 22 | €1,332 | €999 | -€333 | -25.0% |
| Plant, machinery and equipment | 23 | €1,511 | €80,113 | +€78,602 | +5,203% |
| Furniture and vehicles | 24 | €14,003 | €599 | -€13,404 | -95.7% |
| Financial fixed assets | 28 | €1,775 | €1,775 | = | 0.0% |
| Current assets | 29/58 | €328,330 | €264,421 | -€63,909 | -19.5% |
| Stocks and contracts in progress | 3 | €29,724 | €26,684 | -€3,040 | -10.2% |
| Stocks | 30/36 | €29,724 | €26,684 | -€3,040 | -10.2% |
| Amounts receivable within one year | 40/41 | €152,955 | €103,844 | -€49,111 | -32.1% |
| Trade receivables | 40 | €147,966 | €89,853 | -€58,113 | -39.3% |
| Other amounts receivable | 41 | €4,989 | €13,991 | +€9,002 | +180% |
| Cash at bank and in hand | 54/58 | €145,651 | €131,825 | -€13,826 | -9.5% |
| Deferred charges and accrued income | 490/1 | - | €2,068 | +€2,068 | |
| Total equity and liabilities | 10/49 | €349,551 | €347,907 | -€1,644 | -0.5% |
| Equity | 10/15 | €73,093 | €80,984 | +€7,891 | +10.8% |
| Contributions | 10/11 | €13,107 | €13,107 | = | 0.0% |
| Reserves | 13 | €59,985 | €67,876 | +€7,891 | +13.2% |
| Non-distributable reserves | 130/1 | €1,913 | €1,913 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,913 | €1,913 | = | 0.0% |
| Distributable reserves | 133 | €58,072 | €65,963 | +€7,891 | +13.6% |
| Amounts payable | 17/49 | €276,458 | €266,923 | -€9,535 | -3.4% |
| Amounts payable after more than one year | 17 | - | €43,841 | +€43,841 | |
| Financial debts | 170/4 | - | €43,841 | +€43,841 | |
| Amounts payable within one year | 42/48 | €276,458 | €223,082 | -€53,376 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €914 | €10,314 | +€9,400 | +1,028% |
| Financial debts | 43 | - | €3,315 | +€3,315 | |
| Credit institutions | 430/8 | - | €3,315 | +€3,315 | |
| Trade debts | 44 | €175,020 | €118,083 | -€56,938 | -32.5% |
| Suppliers | 440/4 | €175,020 | €118,083 | -€56,938 | -32.5% |
| Taxes, remuneration and social security | 45 | €49,377 | €37,087 | -€12,290 | -24.9% |
| Taxes | 450/3 | €28,033 | €12,577 | -€15,456 | -55.1% |
| Remuneration and social security | 454/9 | €21,344 | €24,510 | +€3,166 | +14.8% |
| Other amounts payable | 47/48 | €51,146 | €54,282 | +€3,136 | +6.1% |
| Remuneration, social security and pensions | 62 | €206,087 | €186,327 | -€19,761 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,908 | €5,885 | -€7,023 | -54.4% |
| Other operating charges | 640/8 | €3,501 | €2,295 | -€1,206 | -34.5% |
| Non-recurring operating charges | 66A | - | €348 | +€348 | |
| Gross operating margin | 9900 | €209,810 | €205,324 | -€4,486 | -2.1% |
| Operating profit (loss) | 9901 | -€12,686 | €10,469 | +€23,155 | |
| Financial income | 75/76B | €771 | €435 | -€336 | -43.6% |
| Recurring financial income | 75 | €771 | €435 | -€336 | -43.6% |
| Financial charges | 65/66B | €33,261 | €2,026 | -€31,235 | -93.9% |
| Recurring financial charges | 65 | €33,261 | €2,026 | -€31,235 | -93.9% |
| Profit (loss) for the period before taxes | 9903 | -€45,176 | €8,878 | +€54,054 | |
| Income taxes | 67/77 | €518 | €987 | +€468 | +90.3% |
| Profit (loss) for the period | 9904 | -€45,695 | €7,891 | +€53,586 | |
| Profit (loss) for the period to be appropriated | 9905 | -€45,695 | €7,891 | +€53,586 |
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 30 October 2026 via checked.be.