BE COLOR: 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.
BE COLOR
Largest movements
- Receivables within one year -€49,012
down €49,012 (-96.9%), from €50,557 to €1,545
of which Trade receivables: -€48,658
- Tangible fixed assets -€23,299
down €23,299 (-4.5%), from €514,309 to €491,010
of which Land and buildings: -€13,080
- Debts after one year -€56,521
down €56,521 (-10.2%), from €552,641 to €496,120
of which Other amounts payable: -€31,140
- Profit (loss) carried forward -€25,061
down €25,061 (-21.7%), from -€115,464 to -€140,525
- Tax, wage and social debts +€6,639
up €6,639 (+64.2%), from €10,343 to €16,982
of which Taxes: +€6,597
- Gross operating margin -€47,364
down €47,364 (-52.6%), from €89,992 to €42,628
- Other operating charges +€17,897
up €17,897 (+213%), from €8,420 to €26,317
- Financial charges -€2,546
down €2,546 (-25.7%), from €9,908 to €7,362
of which Financial charges: -€2,545
- Staff costs +€995
up €995 (+6.2%), from €16,171 to €17,167
- Depreciation -€963
down €963 (-4.2%), from €23,004 to €22,041
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.
Derived cash bridge
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 | €626,727 | €551,470 | -€75,257 | -12.0% |
| Fixed assets | 21/28 | €514,538 | €491,239 | -€23,299 | -4.5% |
| Tangible fixed assets | 22/27 | €514,309 | €491,010 | -€23,299 | -4.5% |
| Land and buildings | 22 | €440,360 | €427,280 | -€13,080 | -3.0% |
| Plant, machinery and equipment | 23 | €550 | €1,454 | +€904 | +164% |
| Other tangible fixed assets | 26 | €73,399 | €62,276 | -€11,123 | -15.2% |
| Financial fixed assets | 28 | €229 | €229 | = | 0.0% |
| Current assets | 29/58 | €112,189 | €60,232 | -€51,957 | -46.3% |
| Stocks and contracts in progress | 3 | €43,961 | €46,289 | +€2,328 | +5.3% |
| Stocks | 30/36 | €43,961 | €46,289 | +€2,328 | +5.3% |
| Amounts receivable within one year | 40/41 | €50,557 | €1,545 | -€49,012 | -96.9% |
| Trade receivables | 40 | €50,203 | €1,545 | -€48,658 | -96.9% |
| Other amounts receivable | 41 | €354 | - | -€354 | |
| Cash at bank and in hand | 54/58 | €17,671 | €11,785 | -€5,885 | -33.3% |
| Deferred charges and accrued income | 490/1 | - | €612 | +€612 | |
| Total equity and liabilities | 10/49 | €626,727 | €551,470 | -€75,257 | -12.0% |
| Equity | 10/15 | €34,426 | €4,460 | -€29,966 | -87.0% |
| Contributions | 10/11 | €23,250 | €23,250 | = | 0.0% |
| Reserves | 13 | €415 | €415 | = | 0.0% |
| Non-distributable reserves | 130/1 | €415 | €415 | = | 0.0% |
| Reserves not available under the articles | 1311 | €415 | €415 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€115,464 | -€140,525 | -€25,061 | -21.7% |
| Investment grants | 15 | €126,225 | €121,320 | -€4,905 | -3.9% |
| Amounts payable | 17/49 | €592,301 | €547,011 | -€45,290 | -7.6% |
| Amounts payable after more than one year | 17 | €552,641 | €496,120 | -€56,521 | -10.2% |
| Financial debts | 170/4 | €215,513 | €190,131 | -€25,381 | -11.8% |
| Other amounts payable | 178/9 | €337,128 | €305,989 | -€31,140 | -9.2% |
| Amounts payable within one year | 42/48 | €39,660 | €50,891 | +€11,231 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €24,880 | €25,381 | +€502 | +2.0% |
| Trade debts | 44 | €4,437 | €8,528 | +€4,091 | +92.2% |
| Suppliers | 440/4 | €4,437 | €8,528 | +€4,091 | +92.2% |
| Taxes, remuneration and social security | 45 | €10,343 | €16,982 | +€6,639 | +64.2% |
| Taxes | 450/3 | €8,933 | €15,531 | +€6,597 | +73.9% |
| Remuneration and social security | 454/9 | €1,410 | €1,451 | +€41 | +2.9% |
| Non-recurring operating income | 76A | - | €519 | +€519 | |
| Remuneration, social security and pensions | 62 | €16,171 | €17,167 | +€995 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,004 | €22,041 | -€963 | -4.2% |
| Other operating charges | 640/8 | €8,420 | €26,317 | +€17,897 | +213% |
| Gross operating margin | 9900 | €89,992 | €42,628 | -€47,364 | -52.6% |
| Operating profit (loss) | 9901 | €42,397 | -€22,897 | -€65,293 | |
| Financial income | 75/76B | €5,013 | €5,197 | +€184 | +3.7% |
| Recurring financial income | 75 | €5,013 | €5,137 | +€124 | +2.5% |
| Non-recurring financial income | 76B | - | €60 | +€60 | |
| Financial charges | 65/66B | €9,908 | €7,362 | -€2,546 | -25.7% |
| Recurring financial charges | 65 | €9,906 | €7,361 | -€2,545 | -25.7% |
| Non-recurring financial charges | 66B | €2 | €1 | -€1 | -67.0% |
| Profit (loss) for the period before taxes | 9903 | €37,502 | -€25,061 | -€62,563 | |
| Profit (loss) for the period | 9904 | €37,502 | -€25,061 | -€62,563 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,502 | -€25,061 | -€62,563 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.