B-token: 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-token
Largest movements
- Receivables within one year -€530,580
down €530,580 (-46.4%), from €1.1m to €613,004
of which Other amounts receivable: -€649,353
- Stocks and contracts +€98,732
up €98,732 (+14.9%), from €661,141 to €759,873
- Intangible fixed assets -€68,660
down €68,660 (-34.5%), from €199,019 to €130,359
- Tangible fixed assets +€54,579
up €54,579 (+8.8%), from €623,027 to €677,606
of which Leasing and similar rights: +€80,127
- Reserves -€429,835
down €429,835 (-47.9%), from €898,068 to €468,233
- Trade debts -€110,339
down €110,339 (-44.0%), from €250,775 to €140,436
- Debts after one year +€87,107
up €87,107 (+14.3%), from €610,686 to €697,793
- Short-term financial debts +€56,393
up €56,393 (+24.4%), from €230,962 to €287,355
- Other debts -€47,388
down €47,388 (-35.7%), from €132,751 to €85,363
- Gross operating margin -€149,024
down €149,024 (-9.0%), from €1.6m to €1.5m
- Financial income +€49,672
up €49,672 (+1697.7%), from €2,926 to €52,598
- Depreciation +€35,434
up €35,434 (+10.8%), from €329,479 to €364,913
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 | €2,697,616 | €2,247,629 | -€449,987 | -16.7% |
| Fixed assets | 21/28 | €832,046 | €817,965 | -€14,081 | -1.7% |
| Intangible fixed assets | 21 | €199,019 | €130,359 | -€68,660 | -34.5% |
| Tangible fixed assets | 22/27 | €623,027 | €677,606 | +€54,579 | +8.8% |
| Land and buildings | 22 | €30,473 | €18,050 | -€12,423 | -40.8% |
| Plant, machinery and equipment | 23 | €120,692 | €107,814 | -€12,878 | -10.7% |
| Furniture and vehicles | 24 | €407 | €160 | -€247 | -60.7% |
| Leasing and similar rights | 25 | €471,456 | €551,583 | +€80,127 | +17.0% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €1,865,570 | €1,429,664 | -€435,907 | -23.4% |
| Stocks and contracts in progress | 3 | €661,141 | €759,873 | +€98,732 | +14.9% |
| Stocks | 30/36 | €661,141 | €759,873 | +€98,732 | +14.9% |
| Amounts receivable within one year | 40/41 | €1,143,584 | €613,004 | -€530,580 | -46.4% |
| Trade receivables | 40 | €303,592 | €422,365 | +€118,773 | +39.1% |
| Other amounts receivable | 41 | €839,993 | €190,639 | -€649,353 | -77.3% |
| Cash at bank and in hand | 54/58 | €54,657 | €48,179 | -€6,478 | -11.9% |
| Deferred charges and accrued income | 490/1 | €6,188 | €8,608 | +€2,420 | +39.1% |
| Total equity and liabilities | 10/49 | €2,697,616 | €2,247,629 | -€449,987 | -16.7% |
| Equity | 10/15 | €916,668 | €486,833 | -€429,835 | -46.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €898,068 | €468,233 | -€429,835 | -47.9% |
| Distributable reserves | 133 | €898,068 | €468,233 | -€429,835 | -47.9% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,780,949 | €1,760,796 | -€20,152 | -1.1% |
| Amounts payable after more than one year | 17 | €610,686 | €697,793 | +€87,107 | +14.3% |
| Financial debts | 170/4 | €610,686 | €697,793 | +€87,107 | +14.3% |
| Amounts payable within one year | 42/48 | €1,170,262 | €1,063,003 | -€107,259 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €368,603 | €377,921 | +€9,318 | +2.5% |
| Financial debts | 43 | €230,962 | €287,355 | +€56,393 | +24.4% |
| Credit institutions | 430/8 | €230,962 | €287,355 | +€56,393 | +24.4% |
| Trade debts | 44 | €250,775 | €140,436 | -€110,339 | -44.0% |
| Suppliers | 440/4 | €250,775 | €140,436 | -€110,339 | -44.0% |
| Taxes, remuneration and social security | 45 | €187,171 | €171,927 | -€15,244 | -8.1% |
| Taxes | 450/3 | €31,125 | €13,124 | -€18,001 | -57.8% |
| Remuneration and social security | 454/9 | €156,046 | €158,803 | +€2,757 | +1.8% |
| Other amounts payable | 47/48 | €132,751 | €85,363 | -€47,388 | -35.7% |
| Remuneration, social security and pensions | 62 | €1,087,140 | €1,101,176 | +€14,036 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €329,479 | €364,913 | +€35,434 | +10.8% |
| Other operating charges | 640/8 | €4,120 | €512 | -€3,608 | -87.6% |
| Gross operating margin | 9900 | €1,649,350 | €1,500,325 | -€149,024 | -9.0% |
| Operating profit (loss) | 9901 | €228,611 | €33,724 | -€194,886 | -85.2% |
| Financial income | 75/76B | €2,926 | €52,598 | +€49,672 | +1697.7% |
| Recurring financial income | 75 | €2,926 | €52,598 | +€49,672 | +1697.7% |
| Financial charges | 65/66B | €71,841 | €74,637 | +€2,796 | +3.9% |
| Recurring financial charges | 65 | €71,841 | €74,637 | +€2,796 | +3.9% |
| Profit (loss) for the period before taxes | 9903 | €159,696 | €11,686 | -€148,010 | -92.7% |
| Income taxes | 67/77 | €6,136 | €5,800 | -€335 | -5.5% |
| Profit (loss) for the period | 9904 | €153,560 | €5,885 | -€147,675 | -96.2% |
| Profit (loss) for the period to be appropriated | 9905 | €153,560 | €5,885 | -€147,675 | -96.2% |
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 29 September 2026 via checked.be.