ANALYSES COMPTABLES: 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.
ANALYSES COMPTABLES
Largest movements
- Receivables within one year +€35,377
up €35,377 (+11.6%), from €306,153 to €341,529
of which Other amounts receivable: +€20,902
- Cash -€4,186
down €4,186 (-24.3%), from €17,214 to €13,028
mainly Receivables within one year (-€35,377) and Other debts (-€17,360)
- Profit (loss) carried forward +€41,776
up €41,776 (+133%), from €31,507 to €73,283
- Other debts -€17,360
down €17,360 (-19.2%), from €90,415 to €73,055
- Debts after one year -€17,124
down €17,124 (-21.3%), from €80,524 to €63,400
- Short-term financial debts +€17,060
new in 2025: €17,060
- Trade debts +€9,916
up €9,916 (+24.0%), from €41,327 to €51,242
- Gross operating margin -€88,363
down €88,363 (-31.6%), from €279,525 to €191,162
- Financial charges -€50,164
down €50,164 (-89.5%), from €56,076 to €5,912
- Write-downs +€35,823
up €35,823, from -€273 to €35,550
- Taxes +€7,456
up €7,456 (+113%), from €6,578 to €14,034
- Staff costs -€4,198
down €4,198 (-4.7%), from €89,117 to €84,919
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 | €339,737 | €366,883 | +€27,146 | +8.0% |
| Fixed assets | 21/28 | €15,222 | €11,223 | -€3,999 | -26.3% |
| Tangible fixed assets | 22/27 | €13,222 | €11,023 | -€2,199 | -16.6% |
| Furniture and vehicles | 24 | €13,222 | €11,023 | -€2,199 | -16.6% |
| Financial fixed assets | 28 | €2,000 | €200 | -€1,800 | -90.0% |
| Current assets | 29/58 | €324,515 | €355,660 | +€31,144 | +9.6% |
| Amounts receivable within one year | 40/41 | €306,153 | €341,529 | +€35,377 | +11.6% |
| Trade receivables | 40 | €157,573 | €172,047 | +€14,474 | +9.2% |
| Other amounts receivable | 41 | €148,580 | €169,482 | +€20,902 | +14.1% |
| Cash at bank and in hand | 54/58 | €17,214 | €13,028 | -€4,186 | -24.3% |
| Deferred charges and accrued income | 490/1 | €1,149 | €1,102 | -€46 | -4.0% |
| Total equity and liabilities | 10/49 | €339,737 | €366,883 | +€27,146 | +8.0% |
| Equity | 10/15 | €70,842 | €112,618 | +€41,776 | +59.0% |
| Contributions | 10/11 | €20,585 | €20,585 | = | 0.0% |
| Reserves | 13 | €18,750 | €18,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,507 | €73,283 | +€41,776 | +133% |
| Amounts payable | 17/49 | €268,895 | €254,265 | -€14,630 | -5.4% |
| Amounts payable after more than one year | 17 | €80,524 | €63,400 | -€17,124 | -21.3% |
| Other amounts payable | 178/9 | €80,524 | €63,400 | -€17,124 | -21.3% |
| Amounts payable within one year | 42/48 | €188,371 | €190,865 | +€2,494 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €10,000 | = | 0.0% |
| Financial debts | 43 | - | €17,060 | +€17,060 | |
| Credit institutions | 430/8 | - | €17,060 | +€17,060 | |
| Trade debts | 44 | €41,327 | €51,242 | +€9,916 | +24.0% |
| Suppliers | 440/4 | €41,327 | €51,242 | +€9,916 | +24.0% |
| Taxes, remuneration and social security | 45 | €46,630 | €39,508 | -€7,122 | -15.3% |
| Taxes | 450/3 | €27,730 | €24,095 | -€3,635 | -13.1% |
| Remuneration and social security | 454/9 | €18,900 | €15,413 | -€3,487 | -18.4% |
| Other amounts payable | 47/48 | €90,415 | €73,055 | -€17,360 | -19.2% |
| Non-recurring operating income | 76A | - | €17,124 | +€17,124 | |
| Remuneration, social security and pensions | 62 | €89,117 | €84,919 | -€4,198 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,772 | €6,090 | +€318 | +5.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€273 | €35,550 | +€35,823 | |
| Other operating charges | 640/8 | €1,600 | €1,581 | -€20 | -1.2% |
| Non-recurring operating charges | 66A | - | €1,301 | +€1,301 | |
| Gross operating margin | 9900 | €279,525 | €191,162 | -€88,363 | -31.6% |
| Operating profit (loss) | 9901 | €183,309 | €61,722 | -€121,588 | -66.3% |
| Financial income | 75/76B | €37 | €0 | -€36 | -99.4% |
| Recurring financial income | 75 | €37 | €0 | -€36 | -99.4% |
| Financial charges | 65/66B | €56,076 | €5,912 | -€50,164 | -89.5% |
| Recurring financial charges | 65 | €56,076 | €5,912 | -€50,164 | -89.5% |
| Profit (loss) for the period before taxes | 9903 | €127,270 | €55,810 | -€71,460 | -56.1% |
| Income taxes | 67/77 | €6,578 | €14,034 | +€7,456 | +113% |
| Profit (loss) for the period | 9904 | €120,692 | €41,776 | -€78,916 | -65.4% |
| Profit (loss) for the period to be appropriated | 9905 | €120,692 | €41,776 | -€78,916 | -65.4% |
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 20 October 2026 via checked.be.