BACKX: 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.
BACKX
Largest movements
- Current investments -€965,012
down €965,012 (-100.0%), from €965,012 to €0
- Cash -€286,526
down €286,526 (-16.8%), from €1.7m to €1.4m
mainly Other debts (-€1.2m) and Investment in fixed assets (net) (-€1.0m)
- Receivables within one year +€252,848
up €252,848 (+28.4%), from €888,838 to €1.1m
of which Trade receivables: +€251,923
- Tangible fixed assets +€238,476
up €238,476 (+9.0%), from €2.7m to €2.9m
of which Plant, machinery and equipment: +€362,800
- Stocks and contracts +€89,817
up €89,817 (+10.3%), from €874,885 to €964,702
- Other debts -€1.2m
down €1.2m (-30.4%), from €4.0m to €2.8m
- Debts after one year +€350,914
up €350,914 (+96.5%), from €363,778 to €714,692
- Reserves +€159,050
up €159,050 (+7.5%), from €2.1m to €2.3m
of which Distributable reserves: +€159,050
- Current portion of long-term debt +€143,467
up €143,467 (+109.6%), from €130,885 to €274,352
- Trade debts -€133,737
down €133,737 (-46.1%), from €290,122 to €156,385
- Gross operating margin -€215,923
down €215,923 (-4.9%), from €4.4m to €4.2m
- Depreciation +€140,706
up €140,706 (+22.4%), from €627,053 to €767,759
- Taxes -€108,941
down €108,941 (-22.7%), from €479,803 to €370,862
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 | €7,117,520 | €6,427,179 | -€690,341 | -9.7% |
| Fixed assets | 21/28 | €2,664,980 | €2,903,457 | +€238,476 | +8.9% |
| Tangible fixed assets | 22/27 | €2,662,535 | €2,901,012 | +€238,476 | +9.0% |
| Land and buildings | 22 | €84,016 | €102,165 | +€18,149 | +21.6% |
| Plant, machinery and equipment | 23 | €1,148,715 | €1,511,515 | +€362,800 | +31.6% |
| Furniture and vehicles | 24 | €1,429,804 | €1,287,331 | -€142,472 | -10.0% |
| Financial fixed assets | 28 | €2,445 | €2,445 | = | 0.0% |
| Current assets | 29/58 | €4,452,540 | €3,523,723 | -€928,818 | -20.9% |
| Stocks and contracts in progress | 3 | €874,885 | €964,702 | +€89,817 | +10.3% |
| Stocks | 30/36 | €874,885 | €964,702 | +€89,817 | +10.3% |
| Amounts receivable within one year | 40/41 | €888,838 | €1,141,685 | +€252,848 | +28.4% |
| Trade receivables | 40 | €693,633 | €945,556 | +€251,923 | +36.3% |
| Other amounts receivable | 41 | €195,205 | €196,130 | +€925 | +0.5% |
| Current investments | 50/53 | €965,012 | €0 | -€965,012 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,703,862 | €1,417,336 | -€286,526 | -16.8% |
| Deferred charges and accrued income | 490/1 | €19,944 | €0 | -€19,944 | -100.0% |
| Total equity and liabilities | 10/49 | €7,117,520 | €6,427,179 | -€690,341 | -9.7% |
| Equity | 10/15 | €2,192,488 | €2,351,538 | +€159,050 | +7.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €2,130,988 | €2,290,038 | +€159,050 | +7.5% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,850 | €5,850 | = | 0.0% |
| Distributable reserves | 133 | €2,118,988 | €2,278,038 | +€159,050 | +7.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €1,950 | €1,950 | = | 0.0% |
| Deferred taxes | 168 | €1,950 | €1,950 | = | 0.0% |
| Amounts payable | 17/49 | €4,923,082 | €4,073,691 | -€849,391 | -17.3% |
| Amounts payable after more than one year | 17 | €363,778 | €714,692 | +€350,914 | +96.5% |
| Financial debts | 170/4 | €363,778 | €714,692 | +€350,914 | +96.5% |
| Amounts payable within one year | 42/48 | €4,559,304 | €3,344,048 | -€1.2m | -26.7% |
| Current portion of amounts payable after more than one year | 42 | €130,885 | €274,352 | +€143,467 | +109.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €290,122 | €156,385 | -€133,737 | -46.1% |
| Suppliers | 440/4 | €290,122 | €156,385 | -€133,737 | -46.1% |
| Taxes, remuneration and social security | 45 | €147,464 | €136,748 | -€10,715 | -7.3% |
| Taxes | 450/3 | €24,687 | €24,078 | -€609 | -2.5% |
| Remuneration and social security | 454/9 | €122,777 | €112,671 | -€10,106 | -8.2% |
| Other amounts payable | 47/48 | €3,990,834 | €2,776,563 | -€1.2m | -30.4% |
| Accrued charges and deferred income | 492/3 | - | €14,951 | +€14,951 | |
| Non-recurring operating income | 76A | €93,863 | €0 | -€93,863 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,783,388 | €1,826,567 | +€43,179 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €627,053 | €767,759 | +€140,706 | +22.4% |
| Other operating charges | 640/8 | €26,788 | €19,897 | -€6,891 | -25.7% |
| Gross operating margin | 9900 | €4,394,654 | €4,178,731 | -€215,923 | -4.9% |
| Operating profit (loss) | 9901 | €1,957,425 | €1,564,508 | -€392,917 | -20.1% |
| Financial income | 75/76B | €21,290 | €53,342 | +€32,053 | +150.6% |
| Recurring financial income | 75 | €21,290 | €53,342 | +€32,053 | +150.6% |
| Financial charges | 65/66B | €72,943 | €87,938 | +€14,995 | +20.6% |
| Recurring financial charges | 65 | €72,943 | €87,938 | +€14,995 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €1,905,772 | €1,529,912 | -€375,859 | -19.7% |
| Transfer from deferred taxes | 780 | €8,011 | €0 | -€8,011 | -100.0% |
| Income taxes | 67/77 | €479,803 | €370,862 | -€108,941 | -22.7% |
| Profit (loss) for the period | 9904 | €1,433,979 | €1,159,050 | -€274,929 | -19.2% |
| Transfer from tax-exempt reserves | 789 | €24,032 | €0 | -€24,032 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,458,012 | €1,159,050 | -€298,961 | -20.5% |
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 4 October 2026 via checked.be.