Au rythme des Saisons: 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 rythme des Saisons
Largest movements
- Tangible fixed assets +€96,432
up €96,432 (+21.9%), from €440,374 to €536,806
of which Land and buildings: +€165,118
- Receivables within one year -€69,923
down €69,923 (-32.3%), from €216,471 to €146,549
of which Trade receivables: -€64,197
- Debts after one year +€120,567
up €120,567 (+34.7%), from €347,392 to €467,959
of which Financial debts: +€120,567
- Trade debts -€41,558
down €41,558 (-35.0%), from €118,853 to €77,295
- Tax, wage and social debts -€35,621
down €35,621 (-66.9%), from €53,221 to €17,600
of which Remuneration and social security: -€34,274
- Other debts -€16,707
down €16,707 (-29.7%), from €56,178 to €39,471
- Short-term financial debts +€15,000
new in 2025: €15,000
- Gross operating margin -€82,702
down €82,702 (-18.5%), from €447,570 to €364,869
- Staff costs -€42,112
down €42,112 (-14.5%), from €290,693 to €248,581
- Depreciation -€12,011
down €12,011 (-11.5%), from €104,756 to €92,745
- Other operating charges -€7,574
down €7,574 (-67.2%), from €11,264 to €3,691
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 | €744,140 | €788,023 | +€43,883 | +5.9% |
| Fixed assets | 21/28 | €440,622 | €540,556 | +€99,934 | +22.7% |
| Intangible fixed assets | 21 | €249 | - | -€249 | |
| Tangible fixed assets | 22/27 | €440,374 | €536,806 | +€96,432 | +21.9% |
| Land and buildings | 22 | €243,713 | €408,830 | +€165,118 | +67.8% |
| Plant, machinery and equipment | 23 | €161,659 | €101,827 | -€59,831 | -37.0% |
| Furniture and vehicles | 24 | €15,781 | €12,481 | -€3,299 | -20.9% |
| Leasing and similar rights | 25 | €16,767 | €11,967 | -€4,800 | -28.6% |
| Other tangible fixed assets | 26 | €2,455 | €1,700 | -€755 | -30.8% |
| Financial fixed assets | 28 | - | €3,750 | +€3,750 | |
| Current assets | 29/58 | €303,518 | €247,467 | -€56,051 | -18.5% |
| Stocks and contracts in progress | 3 | €73,505 | €79,505 | +€6,000 | +8.2% |
| Stocks | 30/36 | €73,505 | €79,505 | +€6,000 | +8.2% |
| Amounts receivable within one year | 40/41 | €216,471 | €146,549 | -€69,923 | -32.3% |
| Trade receivables | 40 | €197,438 | €133,242 | -€64,197 | -32.5% |
| Other amounts receivable | 41 | €19,033 | €13,307 | -€5,726 | -30.1% |
| Cash at bank and in hand | 54/58 | €7,045 | €10,763 | +€3,718 | +52.8% |
| Deferred charges and accrued income | 490/1 | €6,496 | €10,651 | +€4,154 | +63.9% |
| Total equity and liabilities | 10/49 | €744,140 | €788,023 | +€43,883 | +5.9% |
| Equity | 10/15 | €89,642 | €92,524 | +€2,882 | +3.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €68,900 | €71,700 | +€2,800 | +4.1% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €66,900 | €69,700 | +€2,800 | +4.2% |
| Profit (loss) carried forward | 14 | €742 | €824 | +€82 | +11.0% |
| Amounts payable | 17/49 | €654,498 | €695,499 | +€41,001 | +6.3% |
| Amounts payable after more than one year | 17 | €347,392 | €467,959 | +€120,567 | +34.7% |
| Financial debts | 170/4 | €297,392 | €417,959 | +€120,567 | +40.5% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €304,606 | €224,940 | -€79,666 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €76,355 | €75,574 | -€781 | -1.0% |
| Financial debts | 43 | - | €15,000 | +€15,000 | |
| Credit institutions | 430/8 | - | €15,000 | +€15,000 | |
| Trade debts | 44 | €118,853 | €77,295 | -€41,558 | -35.0% |
| Suppliers | 440/4 | €118,853 | €77,295 | -€41,558 | -35.0% |
| Taxes, remuneration and social security | 45 | €53,221 | €17,600 | -€35,621 | -66.9% |
| Taxes | 450/3 | €8,920 | €7,573 | -€1,346 | -15.1% |
| Remuneration and social security | 454/9 | €44,301 | €10,026 | -€34,274 | -77.4% |
| Other amounts payable | 47/48 | €56,178 | €39,471 | -€16,707 | -29.7% |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,600 | +€100 | +4.0% |
| Remuneration, social security and pensions | 62 | €290,693 | €248,581 | -€42,112 | -14.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,756 | €92,745 | -€12,011 | -11.5% |
| Other operating charges | 640/8 | €11,264 | €3,691 | -€7,574 | -67.2% |
| Gross operating margin | 9900 | €447,570 | €364,869 | -€82,702 | -18.5% |
| Operating profit (loss) | 9901 | €40,857 | €19,852 | -€21,005 | -51.4% |
| Financial income | 75/76B | €6,260 | €7,615 | +€1,355 | +21.6% |
| Recurring financial income | 75 | €6,260 | €7,615 | +€1,355 | +21.6% |
| Financial charges | 65/66B | €20,108 | €24,305 | +€4,197 | +20.9% |
| Recurring financial charges | 65 | €20,108 | €24,305 | +€4,197 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | €27,009 | €3,162 | -€23,847 | -88.3% |
| Income taxes | 67/77 | €2,660 | €280 | -€2,380 | -89.5% |
| Profit (loss) for the period | 9904 | €24,349 | €2,882 | -€21,467 | -88.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,349 | €2,882 | -€21,467 | -88.2% |
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.