Between the Brackets: 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.
Between the Brackets
Largest movements
- Receivables within one year +€68,288
up €68,288 (+59.8%), from €114,207 to €182,495
of which Trade receivables: +€68,581
- Cash +€30,571
up €30,571 (+459%), from €6,662 to €37,232
mainly Other debts (+€112,921) and Trade debts (+€85,878)
- Other debts +€112,921
up €112,921 (+70.7%), from €159,674 to €272,595
- Profit (loss) carried forward -€107,048
down €107,048 (-46.7%), from -€229,098 to -€336,146
- Trade debts +€85,878
up €85,878 (+86.1%), from €99,704 to €185,582
- Tax, wage and social debts +€5,585
up €5,585 (+18.8%), from €29,634 to €35,220
of which Taxes: +€3,763
- Turnover -€43,096
down €43,096 (-3.7%), from €1.2m to €1.1m
- Gross operating margin -€30,429
down €30,429 (-14.5%), from €209,782 to €179,353
- Staff costs +€22,185
up €22,185 (+9.3%), from €237,746 to €259,931
- Purchases and services +€20,892
up €20,892 (+2.1%), from €981,957 to €1.0m
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 | €128,115 | €226,017 | +€97,902 | +76.4% |
| Fixed assets | 21/28 | €1,598 | €1,997 | +€398 | +24.9% |
| Tangible fixed assets | 22/27 | €1,598 | €1,997 | +€398 | +24.9% |
| Plant, machinery and equipment | 23 | €1,598 | €1,997 | +€398 | +24.9% |
| Current assets | 29/58 | €126,516 | €224,020 | +€97,504 | +77.1% |
| Amounts receivable within one year | 40/41 | €114,207 | €182,495 | +€68,288 | +59.8% |
| Trade receivables | 40 | €113,913 | €182,495 | +€68,581 | +60.2% |
| Other amounts receivable | 41 | €294 | - | -€294 | |
| Cash at bank and in hand | 54/58 | €6,662 | €37,232 | +€30,571 | +459% |
| Deferred charges and accrued income | 490/1 | €5,648 | €4,293 | -€1,355 | -24.0% |
| Total equity and liabilities | 10/49 | €128,115 | €226,017 | +€97,902 | +76.4% |
| Equity | 10/15 | -€160,898 | -€267,946 | -€107,048 | -66.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€229,098 | -€336,146 | -€107,048 | -46.7% |
| Provisions and deferred taxes | 16 | - | €565 | +€565 | |
| Provisions for liabilities and charges | 160/5 | - | €565 | +€565 | |
| Pensions and similar obligations | 160 | - | €565 | +€565 | |
| Amounts payable | 17/49 | €289,013 | €493,397 | +€204,385 | +70.7% |
| Amounts payable within one year | 42/48 | €289,013 | €493,397 | +€204,385 | +70.7% |
| Trade debts | 44 | €99,704 | €185,582 | +€85,878 | +86.1% |
| Suppliers | 440/4 | €99,704 | €185,582 | +€85,878 | +86.1% |
| Taxes, remuneration and social security | 45 | €29,634 | €35,220 | +€5,585 | +18.8% |
| Taxes | 450/3 | €1,838 | €5,601 | +€3,763 | +205% |
| Remuneration and social security | 454/9 | €27,796 | €29,619 | +€1,822 | +6.6% |
| Other amounts payable | 47/48 | €159,674 | €272,595 | +€112,921 | +70.7% |
| Turnover | 70 | €1,180,354 | €1,137,259 | -€43,096 | -3.7% |
| Non-recurring operating income | 76A | - | €36,343 | +€36,343 | |
| Goods, raw materials, services and sundry goods | 60/61 | €981,957 | €1,002,848 | +€20,892 | +2.1% |
| Remuneration, social security and pensions | 62 | €237,746 | €259,931 | +€22,185 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,107 | €1,039 | -€69 | -6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €565 | +€565 | |
| Other operating charges | 640/8 | €1,815 | €2,572 | +€757 | +41.7% |
| Gross operating margin | 9900 | €209,782 | €179,353 | -€30,429 | -14.5% |
| Operating profit (loss) | 9901 | -€30,886 | -€84,755 | -€53,868 | -174% |
| Financial charges | 65/66B | €12,166 | €21,662 | +€9,496 | +78.1% |
| Recurring financial charges | 65 | €12,166 | €21,662 | +€9,496 | +78.1% |
| Profit (loss) for the period before taxes | 9903 | -€43,052 | -€106,416 | -€63,364 | -147% |
| Income taxes | 67/77 | €613 | €632 | +€18 | +3.0% |
| Profit (loss) for the period | 9904 | -€43,666 | -€107,048 | -€63,383 | -145% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,666 | -€107,048 | -€63,383 | -145% |
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 16 October 2026 via checked.be.