B COLOURS: what changed
Two fiscal 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 COLOURS
Largest movements
- Receivables within one year +€119,726
up €119,726 (+56.3%), from €212,691 to €332,417
of which Other amounts receivable: +€130,822
- Trade debts +€135,217
up €135,217 (+87.9%), from €153,778 to €288,995
- Short-term financial debts +€18,577
up €18,577 (+4626.8%), from €402 to €18,979
- Debts after one year -€17,469
down €17,469 (-76.5%), from €22,827 to €5,358
- Tax, wage and social debts -€7,978
down €7,978 (-59.3%), from €13,442 to €5,465
- Profit (loss) carried forward -€4,182
down €4,182 (-6.5%), from €64,631 to €60,449
- Financial charges +€47,116
up €47,116 (+1267.4%), from €3,718 to €50,834
- Gross operating margin +€28,991
up €28,991 (+80.2%), from €36,159 to €65,150
- Taxes -€10,906
down €10,906 (-66.6%), from €16,371 to €5,465
- Other operating charges -€6,770
down €6,770 (-77.5%), from €8,733 to €1,963
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €276,079 | €401,555 | +€125,477 | +45.4% |
| Fixed assets | 21/28 | €62,862 | €66,197 | +€3,336 | +5.3% |
| Tangible fixed assets | 22/27 | €12,812 | €16,097 | +€3,286 | +25.6% |
| Plant, machinery and equipment | 23 | €3,197 | €1,463 | -€1,734 | -54.2% |
| Furniture and vehicles | 24 | €8,560 | €13,890 | +€5,330 | +62.3% |
| Other tangible fixed assets | 26 | €1,055 | €745 | -€310 | -29.4% |
| Financial fixed assets | 28 | €50,050 | €50,100 | +€50 | +0.1% |
| Current assets | 29/58 | €213,217 | €335,358 | +€122,141 | +57.3% |
| Amounts receivable within one year | 40/41 | €212,691 | €332,417 | +€119,726 | +56.3% |
| Trade receivables | 40 | €21,097 | €10,000 | -€11,097 | -52.6% |
| Other amounts receivable | 41 | €191,595 | €322,417 | +€130,822 | +68.3% |
| Deferred charges and accrued income | 490/1 | €525 | €2,941 | +€2,415 | +459.8% |
| Total equity and liabilities | 10/49 | €276,079 | €401,555 | +€125,477 | +45.4% |
| Equity | 10/15 | €78,891 | €74,709 | -€4,182 | -5.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,631 | €60,449 | -€4,182 | -6.5% |
| Amounts payable | 17/49 | €197,188 | €326,847 | +€129,659 | +65.8% |
| Amounts payable after more than one year | 17 | €22,827 | €5,358 | -€17,469 | -76.5% |
| Financial debts | 170/4 | €22,827 | €5,358 | -€17,469 | -76.5% |
| Amounts payable within one year | 42/48 | €174,361 | €321,488 | +€147,127 | +84.4% |
| Current portion of amounts payable after more than one year | 42 | €6,739 | €8,050 | +€1,311 | +19.5% |
| Financial debts | 43 | €402 | €18,979 | +€18,577 | +4626.8% |
| Credit institutions | 430/8 | €402 | €18,979 | +€18,577 | +4626.8% |
| Trade debts | 44 | €153,778 | €288,995 | +€135,217 | +87.9% |
| Suppliers | 440/4 | €153,778 | €288,995 | +€135,217 | +87.9% |
| Taxes, remuneration and social security | 45 | €13,442 | €5,465 | -€7,978 | -59.3% |
| Taxes | 450/3 | €13,442 | €5,465 | -€7,978 | -59.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,334 | €11,071 | -€263 | -2.3% |
| Other operating charges | 640/8 | €8,733 | €1,963 | -€6,770 | -77.5% |
| Gross operating margin | 9900 | €36,159 | €65,150 | +€28,991 | +80.2% |
| Operating profit (loss) | 9901 | €16,093 | €52,117 | +€36,024 | +223.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,718 | €50,834 | +€47,116 | +1267.4% |
| Recurring financial charges | 65 | €3,718 | €50,834 | +€47,116 | +1267.4% |
| Profit (loss) for the period before taxes | 9903 | €12,376 | €1,283 | -€11,092 | -89.6% |
| Income taxes | 67/77 | €16,371 | €5,465 | -€10,906 | -66.6% |
| Profit (loss) for the period | 9904 | -€3,996 | -€4,182 | -€186 | -4.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,996 | -€4,182 | -€186 | -4.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.