BALANCE: 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.
BALANCE
Largest movements
- Tangible fixed assets -€58,472
down €58,472 (-16.3%), from €358,950 to €300,478
- Cash +€21,065
up €21,065 (+20.3%), from €103,907 to €124,971
mainly Depreciation (+€65,014) and Net result for the year (+€23,366)
- Debts after one year -€63,923
down €63,923 (-31.8%), from €200,983 to €137,060
- Reserves +€23,366
up €23,366 (+16.1%), from €145,016 to €168,383
of which Distributable reserves: +€23,366
- Trade debts -€20,825
down €20,825 (-22.0%), from €94,715 to €73,890
- Tax, wage and social debts +€20,635
up €20,635 (+45.1%), from €45,759 to €66,394
of which Taxes: +€24,694
- Staff costs -€20,225
down €20,225 (-8.5%), from €238,934 to €218,709
- Financial charges -€13,735
down €13,735 (-54.9%), from €25,038 to €11,303
- Taxes +€8,315
up €8,315 (+91.0%), from €9,133 to €17,447
- Gross operating margin -€8,013
down €8,013 (-2.2%), from €356,717 to €348,703
- Other operating charges +€4,180
up €4,180 (+41.9%), from €9,985 to €14,165
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.
Derived cash bridge
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 | €696,026 | €657,161 | -€38,865 | -5.6% |
| Fixed assets | 21/28 | €359,107 | €300,478 | -€58,629 | -16.3% |
| Intangible fixed assets | 21 | €157 | €0 | -€157 | -100% |
| Tangible fixed assets | 22/27 | €358,950 | €300,478 | -€58,472 | -16.3% |
| Land and buildings | 22 | €158,199 | €134,759 | -€23,440 | -14.8% |
| Plant, machinery and equipment | 23 | €19,165 | €10,772 | -€8,393 | -43.8% |
| Furniture and vehicles | 24 | €95,005 | €68,508 | -€26,497 | -27.9% |
| Other tangible fixed assets | 26 | - | €4,312 | +€4,312 | |
| Assets under construction and advance payments | 27 | €86,581 | €82,127 | -€4,454 | -5.1% |
| Current assets | 29/58 | €336,919 | €356,683 | +€19,764 | +5.9% |
| Amounts receivable after more than one year | 29 | €53,037 | €53,037 | = | 0.0% |
| Other amounts receivable | 291 | €53,037 | €53,037 | = | 0.0% |
| Stocks and contracts in progress | 3 | €20,210 | €19,210 | -€1,000 | -4.9% |
| Stocks | 30/36 | €20,210 | €19,210 | -€1,000 | -4.9% |
| Amounts receivable within one year | 40/41 | €153,922 | €155,739 | +€1,818 | +1.2% |
| Trade receivables | 40 | €37,685 | €17,725 | -€19,960 | -53.0% |
| Other amounts receivable | 41 | €116,237 | €138,014 | +€21,778 | +18.7% |
| Cash at bank and in hand | 54/58 | €103,907 | €124,971 | +€21,065 | +20.3% |
| Deferred charges and accrued income | 490/1 | €5,844 | €3,726 | -€2,118 | -36.2% |
| Total equity and liabilities | 10/49 | €696,026 | €657,161 | -€38,865 | -5.6% |
| Equity | 10/15 | €292,516 | €315,883 | +€23,366 | +8.0% |
| Contributions | 10/11 | €147,500 | €147,500 | = | 0.0% |
| Reserves | 13 | €145,016 | €168,383 | +€23,366 | +16.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €145,016 | €168,383 | +€23,366 | +16.1% |
| Amounts payable | 17/49 | €403,509 | €341,278 | -€62,231 | -15.4% |
| Amounts payable after more than one year | 17 | €200,983 | €137,060 | -€63,923 | -31.8% |
| Financial debts | 170/4 | €200,983 | €137,060 | -€63,923 | -31.8% |
| Amounts payable within one year | 42/48 | €202,527 | €204,218 | +€1,692 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €62,053 | €63,935 | +€1,882 | +3.0% |
| Trade debts | 44 | €94,715 | €73,890 | -€20,825 | -22.0% |
| Suppliers | 440/4 | €94,715 | €73,890 | -€20,825 | -22.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €45,759 | €66,394 | +€20,635 | +45.1% |
| Taxes | 450/3 | €22,399 | €47,093 | +€24,694 | +110% |
| Remuneration and social security | 454/9 | €23,360 | €19,301 | -€4,059 | -17.4% |
| Non-recurring operating income | 76A | €11,190 | €0 | -€11,190 | -100% |
| Remuneration, social security and pensions | 62 | €238,934 | €218,709 | -€20,225 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,241 | €65,014 | -€1,228 | -1.9% |
| Other operating charges | 640/8 | €9,985 | €14,165 | +€4,180 | +41.9% |
| Gross operating margin | 9900 | €356,717 | €348,703 | -€8,013 | -2.2% |
| Operating profit (loss) | 9901 | €41,557 | €50,816 | +€9,260 | +22.3% |
| Financial income | 75/76B | €2,534 | €1,300 | -€1,234 | -48.7% |
| Recurring financial income | 75 | €2,534 | €1,300 | -€1,234 | -48.7% |
| Financial charges | 65/66B | €25,038 | €11,303 | -€13,735 | -54.9% |
| Recurring financial charges | 65 | €25,038 | €11,303 | -€13,735 | -54.9% |
| Profit (loss) for the period before taxes | 9903 | €19,053 | €40,814 | +€21,761 | +114% |
| Income taxes | 67/77 | €9,133 | €17,447 | +€8,315 | +91.0% |
| Profit (loss) for the period | 9904 | €9,920 | €23,366 | +€13,446 | +136% |
| Profit (loss) for the period to be appropriated | 9905 | €9,920 | €23,366 | +€13,446 | +136% |
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 15 October 2026 via checked.be.