AREA: 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.
AREA
Largest movements
- Receivables within one year +€31,323
up €31,323 (+70.0%), from €44,718 to €76,041
of which Trade receivables: +€32,436
- Tangible fixed assets -€11,353
down €11,353 (-59.9%), from €18,969 to €7,616
of which Plant, machinery and equipment: -€9,818
- Cash +€9,196
up €9,196 (+28.4%), from €32,420 to €41,616
mainly Trade debts (+€32,390) and Depreciation (+€8,212)
- Stocks and contracts -€3,711
down €3,711 (-4.9%), from €76,393 to €72,682
- Trade debts +€32,390
up €32,390 (+96.5%), from €33,569 to €65,959
- Reserves +€20,259
up €20,259 (+1,089%), from €1,860 to €22,119
- Debts after one year -€16,086
down €16,086 (-45.3%), from €35,549 to €19,463
- Profit (loss) carried forward -€12,650
no longer reported in 2025 (was €12,650)
- Other debts -€2,892
down €2,892 (-7.5%), from €38,559 to €35,667
- Other operating charges -€9,857
down €9,857 (-81.4%), from €12,113 to €2,256
- Financial charges -€3,850
down €3,850 (-49.7%), from €7,745 to €3,895
- Gross operating margin +€1,950
up €1,950 (+3.3%), from €58,732 to €60,682
- Depreciation -€1,722
down €1,722 (-17.3%), from €9,934 to €8,212
- Staff costs +€1,534
up €1,534 (+4.3%), from €35,808 to €37,342
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 | €173,478 | €197,955 | +€24,477 | +14.1% |
| Fixed assets | 21/28 | €18,969 | €7,616 | -€11,353 | -59.9% |
| Tangible fixed assets | 22/27 | €18,969 | €7,616 | -€11,353 | -59.9% |
| Plant, machinery and equipment | 23 | €14,825 | €5,007 | -€9,818 | -66.2% |
| Furniture and vehicles | 24 | €3,622 | €2,609 | -€1,014 | -28.0% |
| Other tangible fixed assets | 26 | €521 | €0 | -€521 | -100% |
| Current assets | 29/58 | €154,509 | €190,339 | +€35,830 | +23.2% |
| Stocks and contracts in progress | 3 | €76,393 | €72,682 | -€3,711 | -4.9% |
| Stocks | 30/36 | €76,393 | €72,682 | -€3,711 | -4.9% |
| Amounts receivable within one year | 40/41 | €44,718 | €76,041 | +€31,323 | +70.0% |
| Trade receivables | 40 | €43,605 | €76,041 | +€32,436 | +74.4% |
| Other amounts receivable | 41 | €1,113 | - | -€1,113 | |
| Cash at bank and in hand | 54/58 | €32,420 | €41,616 | +€9,196 | +28.4% |
| Deferred charges and accrued income | 490/1 | €978 | - | -€978 | |
| Total equity and liabilities | 10/49 | €173,478 | €197,955 | +€24,477 | +14.1% |
| Equity | 10/15 | €33,110 | €40,719 | +€7,609 | +23.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €22,119 | +€20,259 | +1,089% |
| Distributable reserves | 133 | €1,860 | €22,119 | +€20,259 | +1,089% |
| Profit (loss) carried forward | 14 | €12,650 | - | -€12,650 | |
| Amounts payable | 17/49 | €140,368 | €157,236 | +€16,868 | +12.0% |
| Amounts payable after more than one year | 17 | €35,549 | €19,463 | -€16,086 | -45.3% |
| Financial debts | 170/4 | €35,549 | €19,463 | -€16,086 | -45.3% |
| Amounts payable within one year | 42/48 | €104,818 | €137,773 | +€32,955 | +31.4% |
| Current portion of amounts payable after more than one year | 42 | €14,952 | €16,086 | +€1,134 | +7.6% |
| Financial debts | 43 | €5,740 | €5,250 | -€490 | -8.5% |
| Credit institutions | 430/8 | €5,740 | €5,250 | -€490 | -8.5% |
| Trade debts | 44 | €33,569 | €65,959 | +€32,390 | +96.5% |
| Suppliers | 440/4 | €33,569 | €65,959 | +€32,390 | +96.5% |
| Taxes, remuneration and social security | 45 | €11,998 | €14,811 | +€2,813 | +23.4% |
| Taxes | 450/3 | €2,247 | €3,400 | +€1,153 | +51.3% |
| Remuneration and social security | 454/9 | €9,751 | €11,411 | +€1,660 | +17.0% |
| Other amounts payable | 47/48 | €38,559 | €35,667 | -€2,892 | -7.5% |
| Non-recurring operating income | 76A | - | €26,953 | +€26,953 | |
| Remuneration, social security and pensions | 62 | €35,808 | €37,342 | +€1,534 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,934 | €8,212 | -€1,722 | -17.3% |
| Other operating charges | 640/8 | €12,113 | €2,256 | -€9,857 | -81.4% |
| Gross operating margin | 9900 | €58,732 | €60,682 | +€1,950 | +3.3% |
| Operating profit (loss) | 9901 | €877 | €12,872 | +€11,995 | +1,368% |
| Financial income | 75/76B | €1,022 | €120 | -€902 | -88.3% |
| Recurring financial income | 75 | €1,022 | €120 | -€902 | -88.3% |
| Financial charges | 65/66B | €7,745 | €3,895 | -€3,850 | -49.7% |
| Recurring financial charges | 65 | €7,745 | €3,895 | -€3,850 | -49.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,846 | €9,097 | +€14,943 | |
| Income taxes | 67/77 | €7 | €1,488 | +€1,481 | +21,039% |
| Profit (loss) for the period | 9904 | -€5,853 | €7,609 | +€13,462 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,853 | €7,609 | +€13,462 |
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.