ALL STYLE: 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 STYLE
Largest movements
- Tangible fixed assets -€59,441
down €59,441 (-12.9%), from €460,105 to €400,664
of which Furniture and vehicles: -€55,457
- Receivables within one year -€22,094
down €22,094 (-31.5%), from €70,100 to €48,007
of which Other amounts receivable: -€13,479
- Other debts +€117,798
new in 2025: €117,798
- Reserves -€96,808
down €96,808 (-19.1%), from €508,047 to €411,239
- Debts after one year -€65,943
down €65,943 (-38.3%), from €171,976 to €106,033
- Tax, wage and social debts -€22,484
down €22,484 (-35.1%), from €64,075 to €41,591
of which Taxes: -€22,583
- Trade debts -€12,734
down €12,734 (-45.3%), from €28,088 to €15,354
- Gross operating margin +€13,379
up €13,379 (+8.0%), from €166,732 to €180,112
- Depreciation +€5,648
up €5,648 (+6.6%), from €85,005 to €90,653
- Taxes -€2,970
down €2,970 (-15.0%), from €19,772 to €16,803
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 | €859,052 | €780,582 | -€78,470 | -9.1% |
| Fixed assets | 21/28 | €460,105 | €400,664 | -€59,441 | -12.9% |
| Tangible fixed assets | 22/27 | €460,105 | €400,664 | -€59,441 | -12.9% |
| Land and buildings | 22 | €272,320 | €274,828 | +€2,508 | +0.9% |
| Plant, machinery and equipment | 23 | €15,577 | €9,086 | -€6,491 | -41.7% |
| Furniture and vehicles | 24 | €172,207 | €116,750 | -€55,457 | -32.2% |
| Current assets | 29/58 | €398,948 | €379,919 | -€19,029 | -4.8% |
| Amounts receivable after more than one year | 29 | €72,000 | €72,000 | = | 0.0% |
| Other amounts receivable | 291 | €72,000 | €72,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €212,268 | €208,918 | -€3,350 | -1.6% |
| Stocks | 30/36 | €212,268 | €208,918 | -€3,350 | -1.6% |
| Amounts receivable within one year | 40/41 | €70,100 | €48,007 | -€22,094 | -31.5% |
| Trade receivables | 40 | €56,621 | €48,007 | -€8,614 | -15.2% |
| Other amounts receivable | 41 | €13,479 | €0 | -€13,479 | -100% |
| Cash at bank and in hand | 54/58 | €37,858 | €44,523 | +€6,664 | +17.6% |
| Deferred charges and accrued income | 490/1 | €6,721 | €6,471 | -€250 | -3.7% |
| Total equity and liabilities | 10/49 | €859,052 | €780,582 | -€78,470 | -9.1% |
| Equity | 10/15 | €526,600 | €429,792 | -€96,808 | -18.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €508,047 | €411,239 | -€96,808 | -19.1% |
| Distributable reserves | 133 | €508,047 | €411,239 | -€96,808 | -19.1% |
| Profit (loss) carried forward | 14 | €3 | €3 | = | 0.0% |
| Amounts payable | 17/49 | €332,452 | €350,790 | +€18,338 | +5.5% |
| Amounts payable after more than one year | 17 | €171,976 | €106,033 | -€65,943 | -38.3% |
| Financial debts | 170/4 | €171,976 | €106,033 | -€65,943 | -38.3% |
| Amounts payable within one year | 42/48 | €159,818 | €244,283 | +€84,465 | +52.9% |
| Current portion of amounts payable after more than one year | 42 | €67,543 | €69,540 | +€1,998 | +3.0% |
| Financial debts | 43 | €112 | €0 | -€112 | -100% |
| Credit institutions | 430/8 | €112 | €0 | -€112 | -100% |
| Trade debts | 44 | €28,088 | €15,354 | -€12,734 | -45.3% |
| Suppliers | 440/4 | €28,088 | €15,354 | -€12,734 | -45.3% |
| Taxes, remuneration and social security | 45 | €64,075 | €41,591 | -€22,484 | -35.1% |
| Taxes | 450/3 | €59,705 | €37,122 | -€22,583 | -37.8% |
| Remuneration and social security | 454/9 | €4,370 | €4,469 | +€99 | +2.3% |
| Other amounts payable | 47/48 | - | €117,798 | +€117,798 | |
| Accrued charges and deferred income | 492/3 | €658 | €474 | -€184 | -27.9% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,005 | €90,653 | +€5,648 | +6.6% |
| Other operating charges | 640/8 | €4,559 | €4,702 | +€143 | +3.1% |
| Gross operating margin | 9900 | €166,732 | €180,112 | +€13,379 | +8.0% |
| Operating profit (loss) | 9901 | €77,169 | €84,758 | +€7,589 | +9.8% |
| Financial income | 75/76B | €951 | €253 | -€697 | -73.4% |
| Recurring financial income | 75 | €951 | €253 | -€697 | -73.4% |
| Financial charges | 65/66B | €11,389 | €11,207 | -€182 | -1.6% |
| Recurring financial charges | 65 | €11,389 | €11,207 | -€182 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €66,730 | €73,804 | +€7,073 | +10.6% |
| Income taxes | 67/77 | €19,772 | €16,803 | -€2,970 | -15.0% |
| Profit (loss) for the period | 9904 | €46,958 | €57,001 | +€10,043 | +21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,958 | €57,001 | +€10,043 | +21.4% |
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 14 October 2026 via checked.be.