AUDIO SIDE: 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.
AUDIO SIDE
Largest movements
- Tangible fixed assets +€61,682
up €61,682 (+28.4%), from €216,886 to €278,568
of which Other tangible fixed assets: +€88,349
- Receivables within one year -€43,719
down €43,719 (-24.5%), from €178,226 to €134,507
of which Trade receivables: -€27,969
- Cash -€5,141
down €5,141 (-19.4%), from €26,448 to €21,307
mainly Investment in fixed assets (net) (-€154,263) and Advances received (-€19,231)
- Debts after one year +€52,724
up €52,724 (+37.6%), from €140,292 to €193,016
- Advances received -€19,231
down €19,231 (-48.3%), from €39,826 to €20,595
- Trade debts -€19,140
down €19,140 (-95.4%), from €20,064 to €924
- Staff costs +€12,772
up €12,772 (+60.8%), from €21,002 to €33,774
- Gross operating margin +€10,731
up €10,731 (+8.3%), from €129,536 to €140,267
- Depreciation +€5,041
up €5,041 (+5.8%), from €87,540 to €92,581
- Financial charges +€2,601
up €2,601 (+39.7%), from €6,558 to €9,159
- Taxes -€1,569
down €1,569 (-43.1%), from €3,641 to €2,072
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.
Cash bridge derived
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 | €421,560 | €434,546 | +€12,986 | +3.1% |
| Fixed assets | 21/28 | €216,886 | €278,568 | +€61,682 | +28.4% |
| Tangible fixed assets | 22/27 | €216,886 | €278,568 | +€61,682 | +28.4% |
| Plant, machinery and equipment | 23 | €148,438 | €112,437 | -€36,001 | -24.3% |
| Furniture and vehicles | 24 | €6,394 | €37,606 | +€31,212 | +488.1% |
| Leasing and similar rights | 25 | €56,565 | €34,687 | -€21,878 | -38.7% |
| Other tangible fixed assets | 26 | €5,489 | €93,838 | +€88,349 | +1609.6% |
| Current assets | 29/58 | €204,674 | €155,978 | -€48,696 | -23.8% |
| Amounts receivable within one year | 40/41 | €178,226 | €134,507 | -€43,719 | -24.5% |
| Trade receivables | 40 | €147,451 | €119,482 | -€27,969 | -19.0% |
| Other amounts receivable | 41 | €30,775 | €15,025 | -€15,750 | -51.2% |
| Cash at bank and in hand | 54/58 | €26,448 | €21,307 | -€5,141 | -19.4% |
| Deferred charges and accrued income | 490/1 | - | €164 | +€164 | |
| Total equity and liabilities | 10/49 | €421,560 | €434,546 | +€12,986 | +3.1% |
| Equity | 10/15 | €140,840 | €141,667 | +€827 | +0.6% |
| Contributions | 10/11 | €71,000 | €71,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,840 | €70,667 | +€827 | +1.2% |
| Amounts payable | 17/49 | €280,720 | €292,879 | +€12,159 | +4.3% |
| Amounts payable after more than one year | 17 | €140,292 | €193,016 | +€52,724 | +37.6% |
| Financial debts | 170/4 | €140,292 | €193,016 | +€52,724 | +37.6% |
| Amounts payable within one year | 42/48 | €140,428 | €99,863 | -€40,565 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €60,109 | €57,116 | -€2,993 | -5.0% |
| Trade debts | 44 | €20,064 | €924 | -€19,140 | -95.4% |
| Suppliers | 440/4 | €20,064 | €924 | -€19,140 | -95.4% |
| Advances received on contracts in progress | 46 | €39,826 | €20,595 | -€19,231 | -48.3% |
| Taxes, remuneration and social security | 45 | €17,452 | €18,219 | +€767 | +4.4% |
| Taxes | 450/3 | €16,420 | €17,151 | +€731 | +4.5% |
| Remuneration and social security | 454/9 | €1,032 | €1,068 | +€36 | +3.5% |
| Other amounts payable | 47/48 | €2,977 | €3,009 | +€32 | +1.1% |
| Remuneration, social security and pensions | 62 | €21,002 | €33,774 | +€12,772 | +60.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,540 | €92,581 | +€5,041 | +5.8% |
| Other operating charges | 640/8 | €2,955 | €2,754 | -€201 | -6.8% |
| Gross operating margin | 9900 | €129,536 | €140,267 | +€10,731 | +8.3% |
| Operating profit (loss) | 9901 | €18,039 | €11,158 | -€6,881 | -38.1% |
| Financial income | 75/76B | €392 | €900 | +€508 | +129.6% |
| Recurring financial income | 75 | €392 | €900 | +€508 | +129.6% |
| Financial charges | 65/66B | €6,558 | €9,159 | +€2,601 | +39.7% |
| Recurring financial charges | 65 | €6,558 | €9,159 | +€2,601 | +39.7% |
| Profit (loss) for the period before taxes | 9903 | €11,873 | €2,899 | -€8,974 | -75.6% |
| Income taxes | 67/77 | €3,641 | €2,072 | -€1,569 | -43.1% |
| Profit (loss) for the period | 9904 | €8,232 | €827 | -€7,405 | -90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,232 | €827 | -€7,405 | -90.0% |
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 9 October 2026 via checked.be.