BELGIUM TRADERS: 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.
BELGIUM TRADERS
Largest movements
- Receivables within one year -€294,397
down €294,397 (-84.3%), from €349,199 to €54,802
of which Other amounts receivable: -€284,777
- Debts after one year -€484,736
down €484,736 (-34.5%), from €1.4m to €919,747
- Other debts +€234,260
new in 2025: €234,260
- Profit (loss) carried forward -€31,279
down €31,279 (-88.2%), from -€35,467 to -€66,747
- Trade debts -€23,732
down €23,732 (-94.3%), from €25,159 to €1,427
- Gross operating margin -€166,212
down €166,212 (-71.6%), from €232,240 to €66,028
- Financial charges -€73,135
down €73,135 (-58.7%), from €124,540 to €51,405
- Other operating charges -€23,121
down €23,121 (-93.5%), from €24,724 to €1,604
- Taxes -€7,417
no longer reported in 2025 (was €7,417)
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 | €1,629,717 | €1,329,032 | -€300,686 | -18.5% |
| Fixed assets | 21/28 | €1,272,320 | €1,259,436 | -€12,884 | -1.0% |
| Tangible fixed assets | 22/27 | €1,272,320 | €1,259,436 | -€12,884 | -1.0% |
| Land and buildings | 22 | €1,267,116 | €1,254,864 | -€12,252 | -1.0% |
| Plant, machinery and equipment | 23 | €5,204 | €4,573 | -€632 | -12.1% |
| Current assets | 29/58 | €357,397 | €69,595 | -€287,802 | -80.5% |
| Amounts receivable within one year | 40/41 | €349,199 | €54,802 | -€294,397 | -84.3% |
| Trade receivables | 40 | €29,948 | €20,328 | -€9,620 | -32.1% |
| Other amounts receivable | 41 | €319,251 | €34,474 | -€284,777 | -89.2% |
| Cash at bank and in hand | 54/58 | €6,299 | €12,802 | +€6,503 | +103% |
| Deferred charges and accrued income | 490/1 | €1,899 | €1,991 | +€92 | +4.8% |
| Total equity and liabilities | 10/49 | €1,629,717 | €1,329,032 | -€300,686 | -18.5% |
| Equity | 10/15 | €171,275 | €139,996 | -€31,279 | -18.3% |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Capital | 10 | €198,315 | €198,315 | = | 0.0% |
| Issued capital | 100 | €198,315 | €198,315 | = | 0.0% |
| Reserves | 13 | €8,427 | €8,427 | = | 0.0% |
| Non-distributable reserves | 130/1 | €421 | €421 | = | 0.0% |
| Legal reserve | 130 | €421 | €421 | = | 0.0% |
| Distributable reserves | 133 | €8,006 | €8,006 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,467 | -€66,747 | -€31,279 | -88.2% |
| Amounts payable | 17/49 | €1,458,442 | €1,189,036 | -€269,406 | -18.5% |
| Amounts payable after more than one year | 17 | €1,404,484 | €919,747 | -€484,736 | -34.5% |
| Financial debts | 170/4 | €1,404,484 | €919,747 | -€484,736 | -34.5% |
| Amounts payable within one year | 42/48 | €53,661 | €269,289 | +€215,628 | +402% |
| Current portion of amounts payable after more than one year | 42 | €28,502 | €28,903 | +€402 | +1.4% |
| Trade debts | 44 | €25,159 | €1,427 | -€23,732 | -94.3% |
| Suppliers | 440/4 | €25,159 | €1,427 | -€23,732 | -94.3% |
| Taxes, remuneration and social security | 45 | - | €4,698 | +€4,698 | |
| Taxes | 450/3 | - | €4,698 | +€4,698 | |
| Other amounts payable | 47/48 | - | €234,260 | +€234,260 | |
| Accrued charges and deferred income | 492/3 | €297 | - | -€297 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,073 | €44,299 | +€1,225 | +2.8% |
| Other operating charges | 640/8 | €24,724 | €1,604 | -€23,121 | -93.5% |
| Gross operating margin | 9900 | €232,240 | €66,028 | -€166,212 | -71.6% |
| Operating profit (loss) | 9901 | €164,443 | €20,126 | -€144,316 | -87.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €124,540 | €51,405 | -€73,135 | -58.7% |
| Recurring financial charges | 65 | €124,540 | €51,405 | -€73,135 | -58.7% |
| Profit (loss) for the period before taxes | 9903 | €39,903 | -€31,279 | -€71,182 | |
| Income taxes | 67/77 | €7,417 | - | -€7,417 | |
| Profit (loss) for the period | 9904 | €32,486 | -€31,279 | -€63,765 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,486 | -€31,279 | -€63,765 |
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 26 October 2026 via checked.be.