Belgian Trading Services: 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 Trading Services
Largest movements
- Tangible fixed assets +€15,830
up €15,830 (+203%), from €7,803 to €23,633
of which Plant, machinery and equipment: +€17,291
- Cash +€6,693
up €6,693 (+223%), from €3,006 to €9,699
mainly Current portion of long-term debt (+€17,916) and Net result for the year (+€6,024)
- Receivables within one year +€5,545
up €5,545 (+16.0%), from €34,748 to €40,294
of which Other amounts receivable: +€4,195
- Stocks and contracts -€4,583
down €4,583 (-13.7%), from €33,568 to €28,985
- Current portion of long-term debt +€17,916
new in 2025: €17,916
- Profit (loss) carried forward +€6,024
up €6,024 (+74.3%), from €8,103 to €14,128
- Tax, wage and social debts -€5,476
down €5,476 (-17.4%), from €31,534 to €26,058
of which Remuneration and social security: -€8,123
- Trade debts +€5,408
up €5,408 (+93.9%), from €5,761 to €11,169
- Gross operating margin +€3,417
up €3,417 (+4.9%), from €69,627 to €73,043
- Taxes +€2,656
up €2,656 (+304%), from €875 to €3,531
- Staff costs -€1,242
down €1,242 (-2.0%), from €60,773 to €59,531
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 | €80,228 | €104,101 | +€23,873 | +29.8% |
| Fixed assets | 21/28 | €7,803 | €23,633 | +€15,830 | +203% |
| Tangible fixed assets | 22/27 | €7,803 | €23,633 | +€15,830 | +203% |
| Land and buildings | 22 | €5,320 | €4,044 | -€1,275 | -24.0% |
| Plant, machinery and equipment | 23 | €1,772 | €19,063 | +€17,291 | +976% |
| Furniture and vehicles | 24 | €711 | €526 | -€185 | -26.0% |
| Current assets | 29/58 | €72,425 | €80,467 | +€8,042 | +11.1% |
| Stocks and contracts in progress | 3 | €33,568 | €28,985 | -€4,583 | -13.7% |
| Stocks | 30/36 | €33,568 | €28,985 | -€4,583 | -13.7% |
| Amounts receivable within one year | 40/41 | €34,748 | €40,294 | +€5,545 | +16.0% |
| Trade receivables | 40 | €950 | €2,300 | +€1,350 | +142% |
| Other amounts receivable | 41 | €33,798 | €37,994 | +€4,195 | +12.4% |
| Cash at bank and in hand | 54/58 | €3,006 | €9,699 | +€6,693 | +223% |
| Deferred charges and accrued income | 490/1 | €1,103 | €1,490 | +€387 | +35.1% |
| Total equity and liabilities | 10/49 | €80,228 | €104,101 | +€23,873 | +29.8% |
| Equity | 10/15 | €42,034 | €48,059 | +€6,024 | +14.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €27,731 | €27,731 | = | 0.0% |
| Distributable reserves | 133 | €27,731 | €27,731 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,103 | €14,128 | +€6,024 | +74.3% |
| Amounts payable | 17/49 | €38,194 | €56,042 | +€17,848 | +46.7% |
| Amounts payable within one year | 42/48 | €38,194 | €56,042 | +€17,848 | +46.7% |
| Current portion of amounts payable after more than one year | 42 | - | €17,916 | +€17,916 | |
| Trade debts | 44 | €5,761 | €11,169 | +€5,408 | +93.9% |
| Suppliers | 440/4 | €5,761 | €11,169 | +€5,408 | +93.9% |
| Taxes, remuneration and social security | 45 | €31,534 | €26,058 | -€5,476 | -17.4% |
| Taxes | 450/3 | €9,952 | €12,600 | +€2,648 | +26.6% |
| Remuneration and social security | 454/9 | €21,582 | €13,458 | -€8,123 | -37.6% |
| Other amounts payable | 47/48 | €899 | €899 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €60,773 | €59,531 | -€1,242 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,996 | €2,420 | +€424 | +21.2% |
| Other operating charges | 640/8 | €1,238 | €1,312 | +€74 | +6.0% |
| Gross operating margin | 9900 | €69,627 | €73,043 | +€3,417 | +4.9% |
| Operating profit (loss) | 9901 | €5,620 | €9,781 | +€4,161 | +74.0% |
| Financial income | 75/76B | €1,525 | €1,968 | +€442 | +29.0% |
| Recurring financial income | 75 | €1,525 | €1,968 | +€442 | +29.0% |
| Financial charges | 65/66B | €1,769 | €2,194 | +€425 | +24.0% |
| Recurring financial charges | 65 | €1,769 | €2,194 | +€425 | +24.0% |
| Profit (loss) for the period before taxes | 9903 | €5,376 | €9,555 | +€4,179 | +77.7% |
| Income taxes | 67/77 | €875 | €3,531 | +€2,656 | +304% |
| Profit (loss) for the period | 9904 | €4,502 | €6,024 | +€1,522 | +33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,502 | €6,024 | +€1,522 | +33.8% |
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 28 October 2026 via checked.be.