BEYOND WORDS: what changed
Two fiscal 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.
BEYOND WORDS
Largest movements
- Receivables within one year +€14,082
up €14,082 (+70.2%), from €20,069 to €34,150
of which Trade receivables: +€20,150
- Cash -€13,372
down €13,372 (-67.6%), from €19,776 to €6,404
mainly Debts after one year (-€25,602) and Receivables within one year (-€14,082)
- Profit (loss) carried forward +€30,939
up €30,939 (+17.3%), from €178,344 to €209,283
- Debts after one year -€25,602
down €25,602 (-27.8%), from €92,205 to €66,603
- Current portion of long-term debt -€4,758
down €4,758 (-12.1%), from €39,183 to €34,424
- Gross operating margin -€26,084
down €26,084 (-36.0%), from €72,460 to €46,375
- Taxes -€6,328
down €6,328 (-37.0%), from €17,108 to €10,781
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.
Cash bridge derived
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 | €319,546 | €319,185 | -€361 | -0.1% |
| Fixed assets | 21/28 | €279,702 | €278,631 | -€1,071 | -0.4% |
| Tangible fixed assets | 22/27 | €1,677 | €606 | -€1,071 | -63.9% |
| Plant, machinery and equipment | 23 | €1,677 | €606 | -€1,071 | -63.9% |
| Financial fixed assets | 28 | €278,025 | €278,025 | = | 0.0% |
| Current assets | 29/58 | €39,844 | €40,554 | +€710 | +1.8% |
| Amounts receivable within one year | 40/41 | €20,069 | €34,150 | +€14,082 | +70.2% |
| Trade receivables | 40 | €9,781 | €29,931 | +€20,150 | +206.0% |
| Other amounts receivable | 41 | €10,288 | €4,219 | -€6,068 | -59.0% |
| Cash at bank and in hand | 54/58 | €19,776 | €6,404 | -€13,372 | -67.6% |
| Total equity and liabilities | 10/49 | €319,546 | €319,185 | -€361 | -0.1% |
| Equity | 10/15 | €186,144 | €217,083 | +€30,939 | +16.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,600 | €1,600 | = | 0.0% |
| Distributable reserves | 133 | €1,600 | €1,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €178,344 | €209,283 | +€30,939 | +17.3% |
| Amounts payable | 17/49 | €133,402 | €102,102 | -€31,300 | -23.5% |
| Amounts payable after more than one year | 17 | €92,205 | €66,603 | -€25,602 | -27.8% |
| Financial debts | 170/4 | €92,205 | €66,603 | -€25,602 | -27.8% |
| Amounts payable within one year | 42/48 | €41,197 | €35,499 | -€5,698 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €39,183 | €34,424 | -€4,758 | -12.1% |
| Trade debts | 44 | €85 | €309 | +€224 | +262.6% |
| Suppliers | 440/4 | €85 | €309 | +€224 | +262.6% |
| Taxes, remuneration and social security | 45 | €1,929 | €743 | -€1,187 | -61.5% |
| Taxes | 450/3 | €1,929 | €743 | -€1,187 | -61.5% |
| Other amounts payable | 47/48 | €0 | €23 | +€23 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,071 | €1,071 | = | 0.0% |
| Other operating charges | 640/8 | €312 | €62 | -€250 | -80.1% |
| Gross operating margin | 9900 | €72,460 | €46,375 | -€26,084 | -36.0% |
| Operating profit (loss) | 9901 | €71,077 | €45,242 | -€25,834 | -36.3% |
| Financial charges | 65/66B | €3,829 | €3,523 | -€306 | -8.0% |
| Recurring financial charges | 65 | €3,829 | €3,523 | -€306 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €67,248 | €41,719 | -€25,529 | -38.0% |
| Income taxes | 67/77 | €17,108 | €10,781 | -€6,328 | -37.0% |
| Profit (loss) for the period | 9904 | €50,140 | €30,939 | -€19,201 | -38.3% |
| Profit (loss) for the period to be appropriated | 9905 | €50,140 | €30,939 | -€19,201 | -38.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.