AU FIL DU TEMPS: 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.
AU FIL DU TEMPS
Largest movements
- Stocks and contracts +€27,148
up €27,148 (+14.6%), from €186,206 to €213,353
- Cash -€10,586
down €10,586 (-86.7%), from €12,208 to €1,621
mainly Stocks and contracts (-€27,148) and Debts after one year (-€7,550)
- Receivables within one year +€2,817
up €2,817 (+4,746%), from €59 to €2,876
of which Trade receivables: +€2,874
- Profit (loss) carried forward +€14,867
up €14,867 (+44.5%), from €33,398 to €48,264
- Trade debts +€9,444
up €9,444 (+20.3%), from €46,460 to €55,905
- Debts after one year -€7,550
down €7,550 (-22.4%), from €33,654 to €26,104
- Tax, wage and social debts +€6,438
up €6,438 (+45.8%), from €14,042 to €20,480
of which Taxes: +€9,783
- Other debts -€4,858
down €4,858 (-9.1%), from €53,420 to €48,562
- Gross operating margin -€47,377
down €47,377 (-49.5%), from €95,722 to €48,345
- Staff costs -€18,222
down €18,222 (-48.8%), from €37,327 to €19,105
- Financial charges -€11,268
down €11,268 (-78.9%), from €14,278 to €3,010
- Depreciation +€2,154
up €2,154 (+2,262%), from €95 to €2,250
- Taxes -€1,548
down €1,548 (-14.9%), from €10,421 to €8,874
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 | €201,320 | €220,066 | +€18,746 | +9.3% |
| Fixed assets | 21/28 | €2,084 | €1,426 | -€658 | -31.6% |
| Tangible fixed assets | 22/27 | €1,879 | €1,221 | -€658 | -35.0% |
| Furniture and vehicles | 24 | €1,879 | €1,221 | -€658 | -35.0% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €199,236 | €218,640 | +€19,404 | +9.7% |
| Stocks and contracts in progress | 3 | €186,206 | €213,353 | +€27,148 | +14.6% |
| Stocks | 30/36 | €186,206 | €213,353 | +€27,148 | +14.6% |
| Amounts receivable within one year | 40/41 | €59 | €2,876 | +€2,817 | +4,746% |
| Trade receivables | 40 | €3 | €2,876 | +€2,874 | +110,534% |
| Other amounts receivable | 41 | €57 | - | -€57 | |
| Cash at bank and in hand | 54/58 | €12,208 | €1,621 | -€10,586 | -86.7% |
| Deferred charges and accrued income | 490/1 | €763 | €789 | +€26 | +3.4% |
| Total equity and liabilities | 10/49 | €201,320 | €220,066 | +€18,746 | +9.3% |
| Equity | 10/15 | €37,398 | €52,264 | +€14,867 | +39.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,398 | €48,264 | +€14,867 | +44.5% |
| Amounts payable | 17/49 | €163,922 | €167,802 | +€3,879 | +2.4% |
| Amounts payable after more than one year | 17 | €33,654 | €26,104 | -€7,550 | -22.4% |
| Financial debts | 170/4 | €33,654 | €26,104 | -€7,550 | -22.4% |
| Amounts payable within one year | 42/48 | €130,269 | €141,696 | +€11,428 | +8.8% |
| Current portion of amounts payable after more than one year | 42 | €16,346 | €16,749 | +€403 | +2.5% |
| Trade debts | 44 | €46,460 | €55,905 | +€9,444 | +20.3% |
| Suppliers | 440/4 | €46,460 | €55,905 | +€9,444 | +20.3% |
| Taxes, remuneration and social security | 45 | €14,042 | €20,480 | +€6,438 | +45.8% |
| Taxes | 450/3 | €10,421 | €20,204 | +€9,783 | +93.9% |
| Remuneration and social security | 454/9 | €3,621 | €276 | -€3,345 | -92.4% |
| Other amounts payable | 47/48 | €53,420 | €48,562 | -€4,858 | -9.1% |
| Accrued charges and deferred income | 492/3 | - | €1 | +€1 | |
| Remuneration, social security and pensions | 62 | €37,327 | €19,105 | -€18,222 | -48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95 | €2,250 | +€2,154 | +2,262% |
| Other operating charges | 640/8 | €203 | €241 | +€38 | +18.6% |
| Gross operating margin | 9900 | €95,722 | €48,345 | -€47,377 | -49.5% |
| Operating profit (loss) | 9901 | €58,097 | €26,750 | -€31,347 | -54.0% |
| Financial charges | 65/66B | €14,278 | €3,010 | -€11,268 | -78.9% |
| Recurring financial charges | 65 | €14,278 | €3,010 | -€11,268 | -78.9% |
| Profit (loss) for the period before taxes | 9903 | €43,819 | €23,740 | -€20,079 | -45.8% |
| Income taxes | 67/77 | €10,421 | €8,874 | -€1,548 | -14.9% |
| Profit (loss) for the period | 9904 | €33,398 | €14,867 | -€18,531 | -55.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,398 | €14,867 | -€18,531 | -55.5% |
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 25 October 2026 via checked.be.