B.Adapted: 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.
B.Adapted
Largest movements
- Cash -€16,639
down €16,639 (-68.9%), from €24,140 to €7,501
mainly Accrued charges and deferred income (-€127,472) and Trade debts (-€72,004)
- Receivables within one year -€13,050
down €13,050 (-1.1%), from €1.2m to €1.2m
of which Trade receivables: -€24,409
- Reserves +€206,100
up €206,100 (+57.1%), from €361,170 to €567,270
of which Distributable reserves: +€193,470
- Accrued charges and deferred income -€127,472
down €127,472 (-70.5%), from €180,822 to €53,350
- Trade debts -€72,004
down €72,004 (-15.7%), from €458,785 to €386,781
- Tax, wage and social debts -€41,677
down €41,677 (-27.3%), from €152,560 to €110,884
of which Taxes: -€45,259
- Purchases and services -€142,152
down €142,152 (-4.8%), from €3.0m to €2.8m
- Gross operating margin +€118,912
up €118,912 (+18.5%), from €642,164 to €761,077
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 | €1,216,708 | €1,182,172 | -€34,536 | -2.8% |
| Fixed assets | 21/28 | €2,109 | €1,194 | -€916 | -43.4% |
| Tangible fixed assets | 22/27 | €2,109 | €1,194 | -€916 | -43.4% |
| Plant, machinery and equipment | 23 | €2,109 | €1,194 | -€916 | -43.4% |
| Current assets | 29/58 | €1,214,599 | €1,180,979 | -€33,620 | -2.8% |
| Amounts receivable within one year | 40/41 | €1,179,432 | €1,166,383 | -€13,050 | -1.1% |
| Trade receivables | 40 | €621,103 | €596,694 | -€24,409 | -3.9% |
| Other amounts receivable | 41 | €558,329 | €569,689 | +€11,360 | +2.0% |
| Cash at bank and in hand | 54/58 | €24,140 | €7,501 | -€16,639 | -68.9% |
| Deferred charges and accrued income | 490/1 | €11,026 | €7,095 | -€3,931 | -35.7% |
| Total equity and liabilities | 10/49 | €1,216,708 | €1,182,172 | -€34,536 | -2.8% |
| Equity | 10/15 | €423,234 | €630,196 | +€206,962 | +48.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €361,170 | €567,270 | +€206,100 | +57.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,470 | €42,100 | +€12,630 | +42.9% |
| Distributable reserves | 133 | €325,500 | €518,970 | +€193,470 | +59.4% |
| Profit (loss) carried forward | 14 | €64 | €926 | +€862 | +1350.0% |
| Provisions and deferred taxes | 16 | €1,307 | €963 | -€344 | -26.3% |
| Provisions for liabilities and charges | 160/5 | €1,307 | €963 | -€344 | -26.3% |
| Pensions and similar obligations | 160 | €1,307 | €963 | -€344 | -26.3% |
| Amounts payable | 17/49 | €792,167 | €551,014 | -€241,153 | -30.4% |
| Amounts payable within one year | 42/48 | €611,345 | €497,664 | -€113,681 | -18.6% |
| Trade debts | 44 | €458,785 | €386,781 | -€72,004 | -15.7% |
| Suppliers | 440/4 | €458,785 | €386,781 | -€72,004 | -15.7% |
| Taxes, remuneration and social security | 45 | €152,560 | €110,884 | -€41,677 | -27.3% |
| Taxes | 450/3 | €102,176 | €56,917 | -€45,259 | -44.3% |
| Remuneration and social security | 454/9 | €50,385 | €53,967 | +€3,582 | +7.1% |
| Accrued charges and deferred income | 492/3 | €180,822 | €53,350 | -€127,472 | -70.5% |
| Turnover | 70 | €3,603,084 | €3,582,780 | -€20,303 | -0.6% |
| Non-recurring operating income | 76A | - | €27 | +€27 | |
| Goods, raw materials, services and sundry goods | 60/61 | €2,974,395 | €2,832,243 | -€142,152 | -4.8% |
| Remuneration, social security and pensions | 62 | €443,059 | €477,625 | +€34,566 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,137 | €1,460 | -€677 | -31.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €621 | -€344 | -€965 | |
| Other operating charges | 640/8 | €2,299 | €1,958 | -€340 | -14.8% |
| Gross operating margin | 9900 | €642,164 | €761,077 | +€118,912 | +18.5% |
| Operating profit (loss) | 9901 | €194,049 | €280,378 | +€86,328 | +44.5% |
| Financial income | 75/76B | €2,353 | €7,252 | +€4,899 | +208.1% |
| Recurring financial income | 75 | €2,353 | €7,252 | +€4,899 | +208.1% |
| Financial charges | 65/66B | €6,448 | €7,028 | +€581 | +9.0% |
| Recurring financial charges | 65 | €6,448 | €7,028 | +€581 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €189,955 | €280,601 | +€90,646 | +47.7% |
| Income taxes | 67/77 | €53,785 | €73,640 | +€19,855 | +36.9% |
| Profit (loss) for the period | 9904 | €136,171 | €206,962 | +€70,791 | +52.0% |
| Transfer from tax-exempt reserves | 789 | - | €29,470 | +€29,470 | |
| Transfer to tax-exempt reserves | 689 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €136,171 | €194,332 | +€58,161 | +42.7% |
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.