Belgique SOUS TRAITANCE: 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.
Belgique SOUS TRAITANCE
Largest movements
- Tangible fixed assets +€423,136
up €423,136 (+150%), from €282,032 to €705,168
of which Land and buildings: +€402,389
- Cash -€382,889
down €382,889 (-64.8%), from €591,059 to €208,170
mainly Investment in fixed assets (net) (-€456,956) and Contributions, distributions and other (-€47,045)
- Profit (loss) carried forward -€126,119
down €126,119 (-99.5%), from €126,752 to €633
- Reserves +€109,306
up €109,306 (+4.0%), from €2.7m to €2.8m
of which Distributable reserves: +€167,765
- Provisions +€51,359
up €51,359 (+463%), from €11,104 to €62,463
- Gross operating margin +€32,575
up €32,575 (+136%), from €23,867 to €56,442
- Financial income -€29,174
down €29,174 (-16.0%), from €181,993 to €152,819
- Depreciation +€16,465
up €16,465 (+95.4%), from €17,251 to €33,715
- Taxes -€5,151
down €5,151 (-36.9%), from €13,975 to €8,825
- Financial charges +€2,169
up €2,169 (+12.8%), from €16,964 to €19,133
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 | €2,946,645 | €2,985,405 | +€38,759 | +1.3% |
| Fixed assets | 21/28 | €986,332 | €1,409,572 | +€423,240 | +42.9% |
| Tangible fixed assets | 22/27 | €282,032 | €705,168 | +€423,136 | +150% |
| Land and buildings | 22 | €282,032 | €684,420 | +€402,389 | +143% |
| Plant, machinery and equipment | 23 | - | €20,748 | +€20,748 | |
| Financial fixed assets | 28 | €704,300 | €704,404 | +€104 | 0.0% |
| Current assets | 29/58 | €1,960,313 | €1,575,832 | -€384,481 | -19.6% |
| Amounts receivable after more than one year | 29 | €190,000 | €190,000 | = | 0.0% |
| Other amounts receivable | 291 | €190,000 | €190,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €48,453 | €34,041 | -€14,412 | -29.7% |
| Trade receivables | 40 | €18,105 | €1,315 | -€16,791 | -92.7% |
| Other amounts receivable | 41 | €30,348 | €32,727 | +€2,379 | +7.8% |
| Current investments | 50/53 | €1,130,801 | €1,143,610 | +€12,809 | +1.1% |
| Cash at bank and in hand | 54/58 | €591,059 | €208,170 | -€382,889 | -64.8% |
| Deferred charges and accrued income | 490/1 | - | €11 | +€11 | |
| Total equity and liabilities | 10/49 | €2,946,645 | €2,985,405 | +€38,759 | +1.3% |
| Equity | 10/15 | €2,933,712 | €2,916,899 | -€16,813 | -0.6% |
| Contributions | 10/11 | €71,889 | €71,889 | = | 0.0% |
| Reserves | 13 | €2,735,071 | €2,844,376 | +€109,306 | +4.0% |
| Non-distributable reserves | 130/1 | €7,189 | €7,189 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,189 | €7,189 | = | 0.0% |
| Tax-exempt reserves | 132 | €245,848 | €187,388 | -€58,460 | -23.8% |
| Distributable reserves | 133 | €2,482,034 | €2,649,799 | +€167,765 | +6.8% |
| Profit (loss) carried forward | 14 | €126,752 | €633 | -€126,119 | -99.5% |
| Provisions and deferred taxes | 16 | €11,104 | €62,463 | +€51,359 | +463% |
| Deferred taxes | 168 | €11,104 | €62,463 | +€51,359 | +463% |
| Amounts payable | 17/49 | €1,829 | €6,043 | +€4,214 | +230% |
| Amounts payable within one year | 42/48 | €979 | €5,512 | +€4,533 | +463% |
| Trade debts | 44 | €979 | €1,136 | +€157 | +16.0% |
| Suppliers | 440/4 | €979 | €1,136 | +€157 | +16.0% |
| Taxes, remuneration and social security | 45 | - | €4,376 | +€4,376 | |
| Taxes | 450/3 | - | €4,376 | +€4,376 | |
| Accrued charges and deferred income | 492/3 | €851 | €532 | -€319 | -37.5% |
| Non-recurring operating income | 76A | €38,499 | €69,651 | +€31,152 | +80.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,251 | €33,715 | +€16,465 | +95.4% |
| Other operating charges | 640/8 | €1,588 | €3,263 | +€1,675 | +105% |
| Non-recurring operating charges | 66A | €43,037 | €115,952 | +€72,915 | +169% |
| Gross operating margin | 9900 | €23,867 | €56,442 | +€32,575 | +136% |
| Operating profit (loss) | 9901 | -€38,008 | -€96,488 | -€58,480 | -154% |
| Financial income | 75/76B | €181,993 | €152,819 | -€29,174 | -16.0% |
| Recurring financial income | 75 | €181,993 | €152,819 | -€29,174 | -16.0% |
| Financial charges | 65/66B | €16,964 | €19,133 | +€2,169 | +12.8% |
| Recurring financial charges | 65 | €16,964 | €19,133 | +€2,169 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €127,021 | €37,198 | -€89,823 | -70.7% |
| Transfer from deferred taxes | 780 | €332 | €1,858 | +€1,526 | +460% |
| Income taxes | 67/77 | €13,975 | €8,825 | -€5,151 | -36.9% |
| Profit (loss) for the period | 9904 | €113,378 | €30,232 | -€83,146 | -73.3% |
| Transfer from tax-exempt reserves | 789 | €1,329 | €5,243 | +€3,914 | +295% |
| Profit (loss) for the period to be appropriated | 9905 | €114,707 | €35,475 | -€79,232 | -69.1% |
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 23 October 2026 via checked.be.