B. STEPS: 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. STEPS
Largest movements
- Receivables within one year -€168,455
down €168,455 (-27.4%), from €614,562 to €446,106
of which Trade receivables: -€168,455
- Stocks and contracts +€50,912
up €50,912 (+151.2%), from €33,674 to €84,586
- Cash +€20,185
up €20,185 (+120.0%), from €16,815 to €37,000
mainly Receivables within one year (+€168,455) and Depreciation (+€24,337)
- Tangible fixed assets -€20,107
down €20,107 (-9.7%), from €207,160 to €187,053
- Trade debts -€78,396
down €78,396 (-28.2%), from €277,529 to €199,134
- Other debts -€17,082
down €17,082 (-5.8%), from €296,029 to €278,947
- Reserves -€16,656
down €16,656 (-12.4%), from €134,540 to €117,884
of which Tax-exempt reserves: -€16,656
- Gross operating margin -€19,929
down €19,929 (-41.0%), from €48,561 to €28,632
- Financial income -€14,203
down €14,203 (-100.0%), from €14,203 to €0
- Other operating charges -€2,505
down €2,505 (-44.6%), from €5,613 to €3,108
- Write-downs +€1,000
up €1,000 (+3.7%), from €26,785 to €27,785
- Depreciation -€855
down €855 (-3.4%), from €25,192 to €24,337
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €880,156 | €762,232 | -€117,923 | -13.4% |
| Fixed assets | 21/28 | €207,602 | €187,495 | -€20,107 | -9.7% |
| Tangible fixed assets | 22/27 | €207,160 | €187,053 | -€20,107 | -9.7% |
| Land and buildings | 22 | €168,213 | €158,663 | -€9,550 | -5.7% |
| Plant, machinery and equipment | 23 | €2,907 | €1,274 | -€1,633 | -56.2% |
| Furniture and vehicles | 24 | €36,040 | €27,116 | -€8,924 | -24.8% |
| Financial fixed assets | 28 | €442 | €442 | = | 0.0% |
| Current assets | 29/58 | €672,554 | €574,738 | -€97,816 | -14.5% |
| Stocks and contracts in progress | 3 | €33,674 | €84,586 | +€50,912 | +151.2% |
| Stocks | 30/36 | €33,674 | €84,586 | +€50,912 | +151.2% |
| Amounts receivable within one year | 40/41 | €614,562 | €446,106 | -€168,455 | -27.4% |
| Trade receivables | 40 | €168,455 | - | -€168,455 | |
| Other amounts receivable | 41 | €446,106 | €446,106 | = | 0.0% |
| Current investments | 50/53 | €7,000 | €7,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €16,815 | €37,000 | +€20,185 | +120.0% |
| Deferred charges and accrued income | 490/1 | €503 | €45 | -€458 | -91.0% |
| Total equity and liabilities | 10/49 | €880,156 | €762,232 | -€117,923 | -13.4% |
| Equity | 10/15 | €107,827 | €88,647 | -€19,180 | -17.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €134,540 | €117,884 | -€16,656 | -12.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €132,681 | €116,025 | -€16,656 | -12.6% |
| Profit (loss) carried forward | 14 | -€45,305 | -€47,829 | -€2,524 | -5.6% |
| Provisions and deferred taxes | 16 | €68,351 | €59,770 | -€8,580 | -12.6% |
| Deferred taxes | 168 | €68,351 | €59,770 | -€8,580 | -12.6% |
| Amounts payable | 17/49 | €703,978 | €613,815 | -€90,163 | -12.8% |
| Amounts payable after more than one year | 17 | €7,800 | €7,800 | = | 0.0% |
| Other amounts payable | 178/9 | €7,800 | €7,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €578,123 | €488,632 | -€89,491 | -15.5% |
| Trade debts | 44 | €277,529 | €199,134 | -€78,396 | -28.2% |
| Suppliers | 440/4 | €277,529 | €199,134 | -€78,396 | -28.2% |
| Taxes, remuneration and social security | 45 | €4,566 | €10,552 | +€5,986 | +131.1% |
| Taxes | 450/3 | €4,566 | €10,552 | +€5,986 | +131.1% |
| Other amounts payable | 47/48 | €296,029 | €278,947 | -€17,082 | -5.8% |
| Accrued charges and deferred income | 492/3 | €118,054 | €117,382 | -€672 | -0.6% |
| Non-recurring operating income | 76A | - | €3,641 | +€3,641 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,192 | €24,337 | -€855 | -3.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €26,785 | €27,785 | +€1,000 | +3.7% |
| Other operating charges | 640/8 | €5,613 | €3,108 | -€2,505 | -44.6% |
| Gross operating margin | 9900 | €48,561 | €28,632 | -€19,929 | -41.0% |
| Operating profit (loss) | 9901 | -€9,029 | -€26,599 | -€17,570 | -194.6% |
| Financial income | 75/76B | €14,203 | €0 | -€14,203 | -100.0% |
| Recurring financial income | 75 | €14,203 | €0 | -€14,203 | -100.0% |
| Financial charges | 65/66B | €1,393 | €1,162 | -€231 | -16.6% |
| Recurring financial charges | 65 | €1,393 | €1,162 | -€231 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €3,781 | -€27,760 | -€31,542 | |
| Transfer from deferred taxes | 780 | €25,237 | €25,237 | = | 0.0% |
| Profit (loss) for the period | 9904 | €29,018 | -€2,524 | -€31,542 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,018 | -€2,524 | -€31,542 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.