BELGIAN DESIGN: 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.
BELGIAN DESIGN
Largest movements
- Receivables within one year -€4,673
down €4,673 (-33.5%), from €13,948 to €9,275
of which Other amounts receivable: -€11,389
- Tangible fixed assets +€1,838
new in 2025: €1,838
- Cash -€1,809
down €1,809 (-45.4%), from €3,987 to €2,178
mainly Debts after one year (-€58,598) and Current portion of long-term debt (-€10,490)
- Stocks and contracts -€463
down €463 (-4.3%), from €10,742 to €10,279
- Profit (loss) carried forward +€59,035
up €59,035 (+19.8%), from -€297,554 to -€238,519
- Debts after one year -€58,598
no longer reported in 2025 (was €58,598)
- Current portion of long-term debt -€10,490
no longer reported in 2025 (was €10,490)
- Other debts +€4,065
new in 2025: €4,065
- Trade debts +€896
up €896 (+15.4%), from €5,814 to €6,710
- Gross operating margin +€30,755
up €30,755 (+104.9%), from €29,313 to €60,068
- Financial charges -€2,013
down €2,013 (-77.8%), from €2,587 to €574
- Financial income -€684
no longer reported in 2025 (was €684)
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 | €29,040 | €24,074 | -€4,966 | -17.1% |
| Fixed assets | 21/28 | €80 | €1,918 | +€1,838 | +2297.5% |
| Tangible fixed assets | 22/27 | - | €1,838 | +€1,838 | |
| Furniture and vehicles | 24 | - | €1,838 | +€1,838 | |
| Financial fixed assets | 28 | €80 | €80 | = | 0.0% |
| Current assets | 29/58 | €28,960 | €22,156 | -€6,804 | -23.5% |
| Stocks and contracts in progress | 3 | €10,742 | €10,279 | -€463 | -4.3% |
| Stocks | 30/36 | €10,742 | €10,279 | -€463 | -4.3% |
| Amounts receivable within one year | 40/41 | €13,948 | €9,275 | -€4,673 | -33.5% |
| Trade receivables | 40 | €2,559 | €9,275 | +€6,716 | +262.4% |
| Other amounts receivable | 41 | €11,389 | - | -€11,389 | |
| Cash at bank and in hand | 54/58 | €3,987 | €2,178 | -€1,809 | -45.4% |
| Deferred charges and accrued income | 490/1 | €283 | €424 | +€141 | +49.8% |
| Total equity and liabilities | 10/49 | €29,040 | €24,074 | -€4,966 | -17.1% |
| Equity | 10/15 | -€47,554 | €11,481 | +€59,035 | |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€297,554 | -€238,519 | +€59,035 | +19.8% |
| Amounts payable | 17/49 | €76,594 | €12,593 | -€64,001 | -83.6% |
| Amounts payable after more than one year | 17 | €58,598 | - | -€58,598 | |
| Financial debts | 170/4 | €58,598 | - | -€58,598 | |
| Amounts payable within one year | 42/48 | €17,996 | €12,571 | -€5,425 | -30.1% |
| Current portion of amounts payable after more than one year | 42 | €10,490 | - | -€10,490 | |
| Trade debts | 44 | €5,814 | €6,710 | +€896 | +15.4% |
| Suppliers | 440/4 | €5,814 | €6,710 | +€896 | +15.4% |
| Advances received on contracts in progress | 46 | €210 | - | -€210 | |
| Taxes, remuneration and social security | 45 | €1,482 | €1,796 | +€314 | +21.2% |
| Taxes | 450/3 | €1,482 | €340 | -€1,142 | -77.1% |
| Remuneration and social security | 454/9 | - | €1,456 | +€1,456 | |
| Other amounts payable | 47/48 | - | €4,065 | +€4,065 | |
| Accrued charges and deferred income | 492/3 | - | €22 | +€22 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €60 | +€60 | |
| Other operating charges | 640/8 | €703 | €400 | -€303 | -43.1% |
| Non-recurring operating charges | 66A | €1,425 | - | -€1,425 | |
| Gross operating margin | 9900 | €29,313 | €60,068 | +€30,755 | +104.9% |
| Operating profit (loss) | 9901 | €27,185 | €59,608 | +€32,423 | +119.3% |
| Financial income | 75/76B | €684 | - | -€684 | |
| Recurring financial income | 75 | €684 | - | -€684 | |
| Financial charges | 65/66B | €2,587 | €574 | -€2,013 | -77.8% |
| Recurring financial charges | 65 | €2,587 | €574 | -€2,013 | -77.8% |
| Profit (loss) for the period before taxes | 9903 | €25,282 | €59,034 | +€33,752 | +133.5% |
| Income taxes | 67/77 | €64 | - | -€64 | |
| Profit (loss) for the period | 9904 | €25,218 | €59,034 | +€33,816 | +134.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,218 | €59,034 | +€33,816 | +134.1% |
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 10 October 2026 via checked.be.