Aux clés d'or: 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.
Aux clés d'or
Largest movements
- Receivables within one year +€16,304
up €16,304 (+47.2%), from €34,524 to €50,828
of which Trade receivables: +€22,962
- Cash +€10,814
up €10,814 (+67.6%), from €16,003 to €26,817
mainly Trade debts (+€42,467) and Depreciation (+€2,960)
- Tangible fixed assets +€7,039
up €7,039 (+126%), from €5,567 to €12,605
of which Plant, machinery and equipment: +€8,999
- Stocks and contracts +€1,350
up €1,350 (+18.0%), from €7,514 to €8,864
- Deferred charges and accrued income +€1,173
up €1,173 (+63.3%), from €1,853 to €3,025
- Trade debts +€42,467
up €42,467 (+289%), from €14,719 to €57,186
- Profit (loss) carried forward -€3,929
down €3,929 (-20.3%), from €19,342 to €15,414
- Gross operating margin -€22,355
down €22,355 (-73.5%), from €30,411 to €8,056
- Staff costs -€18,403
down €18,403 (-77.2%), from €23,824 to €5,421
- Taxes +€2,468
new in 2025: €2,468
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 | €65,607 | €102,286 | +€36,679 | +55.9% |
| Fixed assets | 21/28 | €5,713 | €12,752 | +€7,039 | +123% |
| Tangible fixed assets | 22/27 | €5,567 | €12,605 | +€7,039 | +126% |
| Plant, machinery and equipment | 23 | - | €8,999 | +€8,999 | |
| Furniture and vehicles | 24 | €5,410 | €3,606 | -€1,803 | -33.3% |
| Other tangible fixed assets | 26 | €157 | - | -€157 | |
| Financial fixed assets | 28 | €146 | €146 | = | 0.0% |
| Current assets | 29/58 | €59,894 | €89,534 | +€29,640 | +49.5% |
| Stocks and contracts in progress | 3 | €7,514 | €8,864 | +€1,350 | +18.0% |
| Stocks | 30/36 | €7,514 | €8,864 | +€1,350 | +18.0% |
| Amounts receivable within one year | 40/41 | €34,524 | €50,828 | +€16,304 | +47.2% |
| Trade receivables | 40 | €16,876 | €39,837 | +€22,962 | +136% |
| Other amounts receivable | 41 | €17,648 | €10,990 | -€6,658 | -37.7% |
| Cash at bank and in hand | 54/58 | €16,003 | €26,817 | +€10,814 | +67.6% |
| Deferred charges and accrued income | 490/1 | €1,853 | €3,025 | +€1,173 | +63.3% |
| Total equity and liabilities | 10/49 | €65,607 | €102,286 | +€36,679 | +55.9% |
| Equity | 10/15 | €38,144 | €34,216 | -€3,929 | -10.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €202 | €202 | = | 0.0% |
| Non-distributable reserves | 130/1 | €202 | €202 | = | 0.0% |
| Reserves not available under the articles | 1311 | €202 | €202 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,342 | €15,414 | -€3,929 | -20.3% |
| Amounts payable | 17/49 | €27,462 | €68,070 | +€40,608 | +148% |
| Amounts payable within one year | 42/48 | €27,462 | €68,070 | +€40,608 | +148% |
| Trade debts | 44 | €14,719 | €57,186 | +€42,467 | +289% |
| Suppliers | 440/4 | €14,719 | €57,186 | +€42,467 | +289% |
| Advances received on contracts in progress | 46 | €7,806 | €6,879 | -€927 | -11.9% |
| Taxes, remuneration and social security | 45 | €4,937 | €4,005 | -€932 | -18.9% |
| Taxes | 450/3 | €2,773 | €4,005 | +€1,232 | +44.4% |
| Remuneration and social security | 454/9 | €2,165 | - | -€2,165 | |
| Remuneration, social security and pensions | 62 | €23,824 | €5,421 | -€18,403 | -77.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,723 | €2,960 | +€237 | +8.7% |
| Other operating charges | 640/8 | €1,121 | €1,030 | -€91 | -8.1% |
| Gross operating margin | 9900 | €30,411 | €8,056 | -€22,355 | -73.5% |
| Operating profit (loss) | 9901 | €2,744 | -€1,355 | -€4,098 | |
| Financial income | 75/76B | €0 | €27 | +€27 | +9,234% |
| Recurring financial income | 75 | €0 | €27 | +€27 | +9,234% |
| Financial charges | 65/66B | €57 | €133 | +€76 | +135% |
| Recurring financial charges | 65 | €57 | €133 | +€76 | +135% |
| Profit (loss) for the period before taxes | 9903 | €2,687 | -€1,461 | -€4,148 | |
| Income taxes | 67/77 | - | €2,468 | +€2,468 | |
| Profit (loss) for the period | 9904 | €2,687 | -€3,929 | -€6,616 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,687 | -€3,929 | -€6,616 |
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 26 October 2026 via checked.be.