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AT FIVE: 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.

What changed

AT FIVE

BE 0518.976.823
NACE 46.150, Agents in the wholesale of furniture, household goods and hardware
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€77,112
2024 · -€52,806+€129,918
Equity
€443,180
2024 · €366,069+€77,112
Cash
€192,837
2024 · €184,793+€8,044
Balance sheet total
€1.4m
2024 · €1.5m-€13,496

Largest movements

2024 to 2025
Assets
  • Tangible fixed assets -€60,764

    down €60,764 (-7.1%), from €858,725 to €797,961

    of which Plant, machinery and equipment: -€34,548

  • Receivables within one year +€43,979

    up €43,979 (+100%), from €43,970 to €87,949

    of which Trade receivables: +€62,469

Equity and liabilities
  • Debts after one year -€97,616

    down €97,616 (-11.4%), from €859,648 to €762,033

  • Reserves +€61,818

    up €61,818 (+17.4%), from €354,405 to €416,223

    of which Distributable reserves: +€61,818

  • Current portion of long-term debt +€33,776

    up €33,776 (+26.3%), from €128,642 to €162,418

  • Other debts -€28,337

    down €28,337 (-68.4%), from €41,433 to €13,096

  • Profit (loss) carried forward +€15,293

    up €15,293, from -€6,936 to €8,357

Income statement
  • Gross operating margin +€143,430

    up €143,430 (+114%), from €125,383 to €268,813

  • Taxes +€24,969

    new in 2025: €24,969

  • Other operating charges -€12,924

    down €12,924 (-58.5%), from €22,089 to €9,165

  • Depreciation +€9,939

    up €9,939 (+18.2%), from €54,656 to €64,595

  • Staff costs -€6,637

    down €6,637 (-8.6%), from €77,009 to €70,372

From the 2024 result to the 2025 result

effect on the 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.

Result 2024 -€52,806
Gross operating margin +€143,430
Staff costs +€6,637
Depreciation -€9,939
Other operating charges +€12,924
Financial income -€152
Financial charges +€1,986
Taxes -€24,969
Result 2025 €77,112
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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.

From operations +€75,714
Investment -€3,831
Financing -€63,840
Cash 2024 €184,793
Net result for the year +€77,112
Depreciation +€64,595
Stocks and contracts -€154
Receivables within one year -€43,979
Deferred charges and accrued income +€4,909
Trade debts +€4,411
Tax, wage and social debts -€2,842
Other debts -€28,337
Investment in fixed assets (net) -€3,831
Debts after one year -€97,616
Current portion of long-term debt +€33,776
Cash 2025 €192,837
brings cash intakes cash out
Every line side by side 47 lines
Line Code 2024 2025 Change %
Total assets 20/58 €1,451,746 €1,438,249 -€13,496 -0.9%
Fixed assets 21/28 €871,025 €810,261 -€60,764 -7.0%
Tangible fixed assets 22/27 €858,725 €797,961 -€60,764 -7.1%
Land and buildings 22 €667,477 €639,327 -€28,151 -4.2%
Plant, machinery and equipment 23 €189,894 €155,346 -€34,548 -18.2%
Furniture and vehicles 24 €1,354 €3,289 +€1,934 +143%
Financial fixed assets 28 €12,300 €12,300 = 0.0%
Current assets 29/58 €580,720 €627,988 +€47,268 +8.1%
Stocks and contracts in progress 3 €345,135 €345,289 +€154 0.0%
Stocks 30/36 €345,135 €345,289 +€154 0.0%
Amounts receivable within one year 40/41 €43,970 €87,949 +€43,979 +100%
Trade receivables 40 €19,267 €81,736 +€62,469 +324%
Other amounts receivable 41 €24,703 €6,213 -€18,490 -74.8%
Cash at bank and in hand 54/58 €184,793 €192,837 +€8,044 +4.4%
Deferred charges and accrued income 490/1 €6,822 €1,913 -€4,909 -72.0%
Total equity and liabilities 10/49 €1,451,746 €1,438,249 -€13,496 -0.9%
Equity 10/15 €366,069 €443,180 +€77,112 +21.1%
Contributions 10/11 €18,600 €18,600 = 0.0%
Reserves 13 €354,405 €416,223 +€61,818 +17.4%
Non-distributable reserves 130/1 €1,860 €1,860 = 0.0%
Reserves not available under the articles 1311 €1,860 €1,860 = 0.0%
Distributable reserves 133 €352,545 €414,363 +€61,818 +17.5%
Profit (loss) carried forward 14 -€6,936 €8,357 +€15,293
Amounts payable 17/49 €1,085,677 €995,069 -€90,608 -8.3%
Amounts payable after more than one year 17 €859,648 €762,033 -€97,616 -11.4%
Financial debts 170/4 €859,648 €762,033 -€97,616 -11.4%
Amounts payable within one year 42/48 €226,029 €233,036 +€7,008 +3.1%
Current portion of amounts payable after more than one year 42 €128,642 €162,418 +€33,776 +26.3%
Trade debts 44 €24,694 €29,105 +€4,411 +17.9%
Suppliers 440/4 €24,694 €29,105 +€4,411 +17.9%
Taxes, remuneration and social security 45 €31,259 €28,418 -€2,842 -9.1%
Taxes 450/3 €23,794 €15,640 -€8,155 -34.3%
Remuneration and social security 454/9 €7,465 €12,778 +€5,313 +71.2%
Other amounts payable 47/48 €41,433 €13,096 -€28,337 -68.4%
Remuneration, social security and pensions 62 €77,009 €70,372 -€6,637 -8.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €54,656 €64,595 +€9,939 +18.2%
Other operating charges 640/8 €22,089 €9,165 -€12,924 -58.5%
Gross operating margin 9900 €125,383 €268,813 +€143,430 +114%
Operating profit (loss) 9901 -€28,370 €124,682 +€153,052
Financial income 75/76B €793 €641 -€152 -19.2%
Recurring financial income 75 €793 €641 -€152 -19.2%
Financial charges 65/66B €25,228 €23,243 -€1,986 -7.9%
Recurring financial charges 65 €25,228 €23,243 -€1,986 -7.9%
Profit (loss) for the period before taxes 9903 -€52,806 €102,080 +€154,886
Income taxes 67/77 - €24,969 +€24,969
Profit (loss) for the period 9904 -€52,806 €77,112 +€129,918
Profit (loss) for the period to be appropriated 9905 -€52,806 €77,112 +€129,918

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 31 October 2026 via checked.be.