AN DER STUFF: 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.
AN DER STUFF
Largest movements
- Tangible fixed assets -€25,969
down €25,969 (-7.9%), from €330,718 to €304,749
of which Land and buildings: -€16,484
- Receivables within one year +€8,294
up €8,294 (+4.1%), from €200,696 to €208,991
of which Other amounts receivable: +€6,904
- Cash -€7,640
down €7,640 (-66.6%), from €11,474 to €3,835
mainly Debts after one year (-€37,750) and Contributions, distributions and other (-€17,117)
- Debts after one year -€37,750
down €37,750 (-14.9%), from €254,084 to €216,334
- Profit (loss) carried forward +€18,654
up €18,654, from -€18,654 to €0
- Other debts +€14,940
new in 2025: €14,940
- Reserves -€11,560
down €11,560 (-8.1%), from €142,439 to €130,878
- Short-term financial debts -€8,949
down €8,949 (-14.8%), from €60,534 to €51,585
- Gross operating margin +€23,572
up €23,572 (+31.3%), from €75,352 to €98,924
- Staff costs -€13,305
down €13,305 (-33.9%), from €39,190 to €25,886
- Taxes +€3,471
up €3,471 (+454.6%), from €763 to €4,234
- Financial charges -€1,394
down €1,394 (-8.9%), from €15,606 to €14,212
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 | €556,707 | €528,426 | -€28,281 | -5.1% |
| Fixed assets | 21/28 | €330,730 | €304,762 | -€25,969 | -7.9% |
| Tangible fixed assets | 22/27 | €330,718 | €304,749 | -€25,969 | -7.9% |
| Land and buildings | 22 | €292,335 | €275,851 | -€16,484 | -5.6% |
| Plant, machinery and equipment | 23 | €38,051 | €28,778 | -€9,272 | -24.4% |
| Furniture and vehicles | 24 | €332 | €120 | -€213 | -64.0% |
| Financial fixed assets | 28 | €12 | €12 | = | 0.0% |
| Current assets | 29/58 | €225,977 | €223,664 | -€2,312 | -1.0% |
| Stocks and contracts in progress | 3 | €10,170 | €8,052 | -€2,118 | -20.8% |
| Stocks | 30/36 | €10,170 | €8,052 | -€2,118 | -20.8% |
| Amounts receivable within one year | 40/41 | €200,696 | €208,991 | +€8,294 | +4.1% |
| Trade receivables | 40 | - | €1,390 | +€1,390 | |
| Other amounts receivable | 41 | €200,696 | €207,601 | +€6,904 | +3.4% |
| Cash at bank and in hand | 54/58 | €11,474 | €3,835 | -€7,640 | -66.6% |
| Deferred charges and accrued income | 490/1 | €3,636 | €2,787 | -€849 | -23.3% |
| Total equity and liabilities | 10/49 | €556,707 | €528,426 | -€28,281 | -5.1% |
| Equity | 10/15 | €155,076 | €160,053 | +€4,977 | +3.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €142,439 | €130,878 | -€11,560 | -8.1% |
| Distributable reserves | 133 | €142,439 | €130,878 | -€11,560 | -8.1% |
| Profit (loss) carried forward | 14 | -€18,654 | €0 | +€18,654 | |
| Investment grants | 15 | €12,699 | €10,583 | -€2,117 | -16.7% |
| Provisions and deferred taxes | 16 | €4,233 | €3,528 | -€706 | -16.7% |
| Deferred taxes | 168 | €4,233 | €3,528 | -€706 | -16.7% |
| Amounts payable | 17/49 | €397,398 | €364,846 | -€32,553 | -8.2% |
| Amounts payable after more than one year | 17 | €254,084 | €216,334 | -€37,750 | -14.9% |
| Financial debts | 170/4 | €254,084 | €216,334 | -€37,750 | -14.9% |
| Amounts payable within one year | 42/48 | €140,852 | €146,698 | +€5,846 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €36,419 | €37,750 | +€1,332 | +3.7% |
| Financial debts | 43 | €60,534 | €51,585 | -€8,949 | -14.8% |
| Credit institutions | 430/8 | €60,534 | €51,585 | -€8,949 | -14.8% |
| Trade debts | 44 | €28,555 | €28,146 | -€409 | -1.4% |
| Suppliers | 440/4 | €28,555 | €28,146 | -€409 | -1.4% |
| Taxes, remuneration and social security | 45 | €15,344 | €14,276 | -€1,067 | -7.0% |
| Taxes | 450/3 | €9,694 | €10,472 | +€778 | +8.0% |
| Remuneration and social security | 454/9 | €5,650 | €3,804 | -€1,845 | -32.7% |
| Other amounts payable | 47/48 | - | €14,940 | +€14,940 | |
| Accrued charges and deferred income | 492/3 | €2,462 | €1,814 | -€649 | -26.3% |
| Remuneration, social security and pensions | 62 | €39,190 | €25,886 | -€13,305 | -33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,491 | €27,169 | -€322 | -1.2% |
| Other operating charges | 640/8 | €8,439 | €8,236 | -€203 | -2.4% |
| Gross operating margin | 9900 | €75,352 | €98,924 | +€23,572 | +31.3% |
| Operating profit (loss) | 9901 | €232 | €37,634 | +€37,402 | +16099.9% |
| Financial income | 75/76B | €2,535 | €2,201 | -€335 | -13.2% |
| Recurring financial income | 75 | €2,535 | €2,201 | -€335 | -13.2% |
| Financial charges | 65/66B | €15,606 | €14,212 | -€1,394 | -8.9% |
| Recurring financial charges | 65 | €15,606 | €14,212 | -€1,394 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | -€12,839 | €25,622 | +€38,461 | |
| Transfer from deferred taxes | 780 | €706 | €706 | = | 0.0% |
| Income taxes | 67/77 | €763 | €4,234 | +€3,471 | +454.6% |
| Profit (loss) for the period | 9904 | -€12,897 | €22,094 | +€34,990 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,897 | €22,094 | +€34,990 |
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 5 October 2026 via checked.be.