Ann0'23: 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.
Ann0'23
Largest movements
- Tangible fixed assets +€104,361
up €104,361 (+29.8%), from €349,641 to €454,002
of which Plant, machinery and equipment: +€108,170
- Cash -€100,864
down €100,864 (-84.2%), from €119,747 to €18,884
mainly Investment in fixed assets (net) (-€136,810) and Trade debts (-€40,045)
- Receivables within one year -€10,511
down €10,511 (-20.4%), from €51,542 to €41,031
of which Other amounts receivable: -€26,160
- Trade debts -€40,045
down €40,045 (-33.8%), from €118,317 to €78,271
- Profit (loss) carried forward +€33,129
up €33,129 (+34.1%), from €97,060 to €130,188
- Tax, wage and social debts -€9,911
down €9,911 (-68.8%), from €14,407 to €4,496
- Debts after one year +€6,125
up €6,125 (+2.3%), from €261,509 to €267,634
- Gross operating margin -€19,650
down €19,650 (-21.2%), from €92,806 to €73,156
- Taxes -€12,793
down €12,793 (-88.8%), from €14,407 to €1,615
- Depreciation +€10,391
up €10,391 (+47.1%), from €22,057 to €32,449
- Financial charges +€1,350
up €1,350 (+34.6%), from €3,900 to €5,249
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 | €520,931 | €513,917 | -€7,013 | -1.3% |
| Fixed assets | 21/28 | €349,641 | €454,002 | +€104,361 | +29.8% |
| Tangible fixed assets | 22/27 | €349,641 | €454,002 | +€104,361 | +29.8% |
| Land and buildings | 22 | €227,556 | €220,500 | -€7,056 | -3.1% |
| Plant, machinery and equipment | 23 | €122,085 | €230,255 | +€108,170 | +88.6% |
| Furniture and vehicles | 24 | - | €3,247 | +€3,247 | |
| Current assets | 29/58 | €171,289 | €59,915 | -€111,374 | -65.0% |
| Amounts receivable within one year | 40/41 | €51,542 | €41,031 | -€10,511 | -20.4% |
| Trade receivables | 40 | €20,629 | €36,279 | +€15,650 | +75.9% |
| Other amounts receivable | 41 | €30,913 | €4,752 | -€26,160 | -84.6% |
| Cash at bank and in hand | 54/58 | €119,747 | €18,884 | -€100,864 | -84.2% |
| Total equity and liabilities | 10/49 | €520,931 | €513,917 | -€7,013 | -1.3% |
| Equity | 10/15 | €107,060 | €140,188 | +€33,129 | +30.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €97,060 | €130,188 | +€33,129 | +34.1% |
| Amounts payable | 17/49 | €413,871 | €373,729 | -€40,142 | -9.7% |
| Amounts payable after more than one year | 17 | €261,509 | €267,634 | +€6,125 | +2.3% |
| Financial debts | 170/4 | €261,509 | €267,634 | +€6,125 | +2.3% |
| Amounts payable within one year | 42/48 | €152,362 | €106,095 | -€46,267 | -30.4% |
| Current portion of amounts payable after more than one year | 42 | €16,553 | €17,209 | +€655 | +4.0% |
| Trade debts | 44 | €118,317 | €78,271 | -€40,045 | -33.8% |
| Suppliers | 440/4 | €118,317 | €78,271 | -€40,045 | -33.8% |
| Taxes, remuneration and social security | 45 | €14,407 | €4,496 | -€9,911 | -68.8% |
| Taxes | 450/3 | €14,407 | €4,496 | -€9,911 | -68.8% |
| Other amounts payable | 47/48 | €3,084 | €6,119 | +€3,035 | +98.4% |
| Remuneration, social security and pensions | 62 | - | €164 | +€164 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,057 | €32,449 | +€10,391 | +47.1% |
| Other operating charges | 640/8 | €1,024 | €550 | -€474 | -46.3% |
| Gross operating margin | 9900 | €92,806 | €73,156 | -€19,650 | -21.2% |
| Operating profit (loss) | 9901 | €69,724 | €39,993 | -€29,731 | -42.6% |
| Financial charges | 65/66B | €3,900 | €5,249 | +€1,350 | +34.6% |
| Recurring financial charges | 65 | €3,900 | €5,249 | +€1,350 | +34.6% |
| Profit (loss) for the period before taxes | 9903 | €65,825 | €34,743 | -€31,081 | -47.2% |
| Income taxes | 67/77 | €14,407 | €1,615 | -€12,793 | -88.8% |
| Profit (loss) for the period | 9904 | €51,417 | €33,129 | -€18,289 | -35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €51,417 | €33,129 | -€18,289 | -35.6% |
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 16 October 2026 via checked.be.