Be-versed: 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-versed
Largest movements
- Receivables within one year +€38,632
up €38,632 (+114%), from €33,975 to €72,606
of which Trade receivables: +€36,791
- Tangible fixed assets -€38,503
down €38,503 (-12.0%), from €319,720 to €281,217
of which Furniture and vehicles: -€21,480
- Stocks and contracts +€11,936
up €11,936 (+20.2%), from €58,970 to €70,906
- Cash -€10,616
down €10,616 (-29.9%), from €35,536 to €24,920
mainly Receivables within one year (-€38,632) and Debts after one year (-€24,130)
- Current portion of long-term debt +€37,217
up €37,217 (+121%), from €30,681 to €67,898
- Debts after one year -€24,130
down €24,130 (-14.3%), from €168,772 to €144,642
- Other debts -€11,797
down €11,797 (-11.0%), from €106,784 to €94,988
- Tax, wage and social debts -€11,240
down €11,240 (-32.2%), from €34,856 to €23,616
of which Taxes: -€9,440
- Trade debts +€6,822
up €6,822 (+180%), from €3,793 to €10,615
- Gross operating margin -€30,720
down €30,720 (-42.6%), from €72,043 to €41,322
- Financial income -€22,500
down €22,500 (-83.0%), from €27,113 to €4,613
- Taxes -€10,309
down €10,309 (-73.7%), from €13,996 to €3,687
- Other operating charges -€2,616
down €2,616 (-64.4%), from €4,060 to €1,443
- Depreciation +€1,921
up €1,921 (+8.8%), from €21,775 to €23,696
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 | €449,020 | €452,091 | +€3,071 | +0.7% |
| Fixed assets | 21/28 | €319,720 | €281,217 | -€38,503 | -12.0% |
| Tangible fixed assets | 22/27 | €319,720 | €281,217 | -€38,503 | -12.0% |
| Land and buildings | 22 | €242,778 | €236,288 | -€6,489 | -2.7% |
| Plant, machinery and equipment | 23 | €35,252 | €24,718 | -€10,534 | -29.9% |
| Furniture and vehicles | 24 | €41,691 | €20,211 | -€21,480 | -51.5% |
| Current assets | 29/58 | €129,300 | €170,873 | +€41,573 | +32.2% |
| Stocks and contracts in progress | 3 | €58,970 | €70,906 | +€11,936 | +20.2% |
| Stocks | 30/36 | €58,970 | €70,906 | +€11,936 | +20.2% |
| Amounts receivable within one year | 40/41 | €33,975 | €72,606 | +€38,632 | +114% |
| Trade receivables | 40 | €33,815 | €70,606 | +€36,791 | +109% |
| Other amounts receivable | 41 | €160 | €2,000 | +€1,840 | +1,152% |
| Cash at bank and in hand | 54/58 | €35,536 | €24,920 | -€10,616 | -29.9% |
| Deferred charges and accrued income | 490/1 | €819 | €2,441 | +€1,622 | +198% |
| Total equity and liabilities | 10/49 | €449,020 | €452,091 | +€3,071 | +0.7% |
| Equity | 10/15 | €104,134 | €110,333 | +€6,199 | +6.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €102,634 | €108,833 | +€6,199 | +6.0% |
| Distributable reserves | 133 | €102,634 | €108,833 | +€6,199 | +6.0% |
| Amounts payable | 17/49 | €344,886 | €341,758 | -€3,128 | -0.9% |
| Amounts payable after more than one year | 17 | €168,772 | €144,642 | -€24,130 | -14.3% |
| Financial debts | 170/4 | €168,772 | €144,642 | -€24,130 | -14.3% |
| Amounts payable within one year | 42/48 | €176,114 | €197,116 | +€21,002 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €30,681 | €67,898 | +€37,217 | +121% |
| Trade debts | 44 | €3,793 | €10,615 | +€6,822 | +180% |
| Suppliers | 440/4 | €3,793 | €10,615 | +€6,822 | +180% |
| Taxes, remuneration and social security | 45 | €34,856 | €23,616 | -€11,240 | -32.2% |
| Taxes | 450/3 | €33,056 | €23,616 | -€9,440 | -28.6% |
| Remuneration and social security | 454/9 | €1,800 | - | -€1,800 | |
| Other amounts payable | 47/48 | €106,784 | €94,988 | -€11,797 | -11.0% |
| Non-recurring operating income | 76A | - | €719 | +€719 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,775 | €23,696 | +€1,921 | +8.8% |
| Other operating charges | 640/8 | €4,060 | €1,443 | -€2,616 | -64.4% |
| Gross operating margin | 9900 | €72,043 | €41,322 | -€30,720 | -42.6% |
| Operating profit (loss) | 9901 | €46,208 | €16,183 | -€30,025 | -65.0% |
| Financial income | 75/76B | €27,113 | €4,613 | -€22,500 | -83.0% |
| Recurring financial income | 75 | €27,113 | €4,613 | -€22,500 | -83.0% |
| Financial charges | 65/66B | €12,235 | €10,910 | -€1,325 | -10.8% |
| Recurring financial charges | 65 | €12,235 | €10,910 | -€1,325 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €61,086 | €9,886 | -€51,200 | -83.8% |
| Income taxes | 67/77 | €13,996 | €3,687 | -€10,309 | -73.7% |
| Profit (loss) for the period | 9904 | €47,090 | €6,199 | -€40,891 | -86.8% |
| Profit (loss) for the period to be appropriated | 9905 | €47,090 | €6,199 | -€40,891 | -86.8% |
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 27 October 2026 via checked.be.