BING RESEARCH: 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.
BING RESEARCH
Largest movements
- Receivables within one year +€23,736
up €23,736 (+23.9%), from €99,341 to €123,077
of which Trade receivables: +€23,736
- Cash -€16,771
down €16,771 (-38.8%), from €43,212 to €26,441
mainly Receivables within one year (-€23,736) and Trade debts (-€3,170)
- Tax, wage and social debts +€10,384
up €10,384 (+46.2%), from €22,459 to €32,842
of which Taxes: +€9,342
- Trade debts -€3,170
down €3,170 (-80.4%), from €3,941 to €771
- Staff costs +€6,596
up €6,596 (+9.7%), from €67,849 to €74,445
- Gross operating margin +€5,474
up €5,474 (+7.3%), from €74,728 to €80,203
- Financial charges -€1,567
down €1,567 (-37.6%), from €4,172 to €2,604
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 | €144,827 | €151,585 | +€6,758 | +4.7% |
| Fixed assets | 21/28 | €491 | €305 | -€187 | -38.0% |
| Intangible fixed assets | 21 | €406 | €305 | -€102 | -25.0% |
| Tangible fixed assets | 22/27 | €85 | €0 | -€85 | -100% |
| Plant, machinery and equipment | 23 | €85 | €0 | -€85 | -100% |
| Current assets | 29/58 | €144,336 | €151,281 | +€6,945 | +4.8% |
| Amounts receivable within one year | 40/41 | €99,341 | €123,077 | +€23,736 | +23.9% |
| Trade receivables | 40 | €90,416 | €114,152 | +€23,736 | +26.3% |
| Other amounts receivable | 41 | €8,925 | €8,925 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €43,212 | €26,441 | -€16,771 | -38.8% |
| Deferred charges and accrued income | 490/1 | €1,782 | €1,762 | -€20 | -1.1% |
| Total equity and liabilities | 10/49 | €144,827 | €151,585 | +€6,758 | +4.7% |
| Equity | 10/15 | €117,212 | €117,972 | +€760 | +0.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,112 | €116,872 | +€760 | +0.7% |
| Amounts payable | 17/49 | €27,615 | €33,613 | +€5,998 | +21.7% |
| Amounts payable within one year | 42/48 | €26,400 | €33,613 | +€7,214 | +27.3% |
| Trade debts | 44 | €3,941 | €771 | -€3,170 | -80.4% |
| Suppliers | 440/4 | €3,941 | €771 | -€3,170 | -80.4% |
| Taxes, remuneration and social security | 45 | €22,459 | €32,842 | +€10,384 | +46.2% |
| Taxes | 450/3 | €11,729 | €21,071 | +€9,342 | +79.7% |
| Remuneration and social security | 454/9 | €10,730 | €11,771 | +€1,041 | +9.7% |
| Accrued charges and deferred income | 492/3 | €1,216 | €0 | -€1,216 | -100% |
| Remuneration, social security and pensions | 62 | €67,849 | €74,445 | +€6,596 | +9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €297 | €187 | -€110 | -37.1% |
| Other operating charges | 640/8 | €569 | €653 | +€84 | +14.7% |
| Gross operating margin | 9900 | €74,728 | €80,203 | +€5,474 | +7.3% |
| Operating profit (loss) | 9901 | €6,013 | €4,918 | -€1,095 | -18.2% |
| Financial charges | 65/66B | €4,172 | €2,604 | -€1,567 | -37.6% |
| Recurring financial charges | 65 | €4,172 | €2,604 | -€1,567 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €1,841 | €2,313 | +€472 | +25.6% |
| Income taxes | 67/77 | €1,603 | €1,554 | -€49 | -3.1% |
| Profit (loss) for the period | 9904 | €239 | €760 | +€521 | +218% |
| Profit (loss) for the period to be appropriated | 9905 | €239 | €760 | +€521 | +218% |
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 17 October 2026 via checked.be.