BELGIAN MOMENT: 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 MOMENT
Largest movements
- Receivables within one year -€32,713
down €32,713 (-92.6%), from €35,316 to €2,603
- Tangible fixed assets -€23,708
down €23,708 (-18.3%), from €129,539 to €105,830
of which Other tangible fixed assets: -€13,384
- Cash +€12,962
up €12,962 (+21.6%), from €60,051 to €73,013
mainly Depreciation (+€37,965) and Receivables within one year (+€32,713)
- Stocks and contracts -€9,034
down €9,034 (-29.5%), from €30,613 to €21,579
- Other debts -€35,000
no longer reported in 2025 (was €35,000)
- Trade debts -€24,813
down €24,813 (-26.4%), from €94,098 to €69,284
- Tax, wage and social debts +€16,118
up €16,118 (+44.0%), from €36,661 to €52,780
of which Remuneration and social security: +€15,387
- Profit (loss) carried forward -€6,821
down €6,821 (-18.3%), from €37,355 to €30,534
- Gross operating margin +€76,672
up €76,672 (+33.5%), from €228,917 to €305,590
- Staff costs +€74,146
up €74,146 (+40.2%), from €184,342 to €258,488
- Depreciation +€13,188
up €13,188 (+53.2%), from €24,776 to €37,965
- Other operating charges -€3,761
down €3,761 (-35.7%), from €10,526 to €6,765
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €293,614 | €242,148 | -€51,466 | -17.5% |
| Fixed assets | 21/28 | €138,362 | €114,653 | -€23,708 | -17.1% |
| Tangible fixed assets | 22/27 | €129,539 | €105,830 | -€23,708 | -18.3% |
| Plant, machinery and equipment | 23 | €51,444 | €41,120 | -€10,324 | -20.1% |
| Other tangible fixed assets | 26 | €78,094 | €64,710 | -€13,384 | -17.1% |
| Financial fixed assets | 28 | €8,823 | €8,823 | = | 0.0% |
| Current assets | 29/58 | €155,252 | €127,495 | -€27,758 | -17.9% |
| Stocks and contracts in progress | 3 | €30,613 | €21,579 | -€9,034 | -29.5% |
| Stocks | 30/36 | €30,613 | €21,579 | -€9,034 | -29.5% |
| Amounts receivable within one year | 40/41 | €35,316 | €2,603 | -€32,713 | -92.6% |
| Other amounts receivable | 41 | €35,316 | €2,603 | -€32,713 | -92.6% |
| Cash at bank and in hand | 54/58 | €60,051 | €73,013 | +€12,962 | +21.6% |
| Deferred charges and accrued income | 490/1 | €29,272 | €30,299 | +€1,028 | +3.5% |
| Total equity and liabilities | 10/49 | €293,614 | €242,148 | -€51,466 | -17.5% |
| Equity | 10/15 | €124,255 | €117,434 | -€6,821 | -5.5% |
| Contributions | 10/11 | €79,000 | €79,000 | = | 0.0% |
| Capital | 10 | €79,000 | €79,000 | = | 0.0% |
| Issued capital | 100 | €79,000 | €79,000 | = | 0.0% |
| Reserves | 13 | €7,900 | €7,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,900 | €7,900 | = | 0.0% |
| Legal reserve | 130 | €7,900 | €7,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,355 | €30,534 | -€6,821 | -18.3% |
| Amounts payable | 17/49 | €169,359 | €124,714 | -€44,645 | -26.4% |
| Amounts payable within one year | 42/48 | €165,759 | €122,064 | -€43,695 | -26.4% |
| Trade debts | 44 | €94,098 | €69,284 | -€24,813 | -26.4% |
| Suppliers | 440/4 | €94,098 | €69,284 | -€24,813 | -26.4% |
| Taxes, remuneration and social security | 45 | €36,661 | €52,780 | +€16,118 | +44.0% |
| Taxes | 450/3 | €453 | €1,185 | +€732 | +162% |
| Remuneration and social security | 454/9 | €36,208 | €51,595 | +€15,387 | +42.5% |
| Other amounts payable | 47/48 | €35,000 | - | -€35,000 | |
| Accrued charges and deferred income | 492/3 | €3,600 | €2,650 | -€950 | -26.4% |
| Remuneration, social security and pensions | 62 | €184,342 | €258,488 | +€74,146 | +40.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,776 | €37,965 | +€13,188 | +53.2% |
| Other operating charges | 640/8 | €10,526 | €6,765 | -€3,761 | -35.7% |
| Gross operating margin | 9900 | €228,917 | €305,590 | +€76,672 | +33.5% |
| Operating profit (loss) | 9901 | €9,274 | €2,372 | -€6,901 | -74.4% |
| Financial charges | 65/66B | €6,737 | €8,352 | +€1,615 | +24.0% |
| Recurring financial charges | 65 | €6,737 | €8,352 | +€1,615 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €2,537 | -€5,980 | -€8,516 | |
| Income taxes | 67/77 | -€290 | €842 | +€1,132 | |
| Profit (loss) for the period | 9904 | €2,827 | -€6,821 | -€9,648 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,827 | -€6,821 | -€9,648 |
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 23 October 2026 via checked.be.