Bitewing: 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.
Bitewing
Largest movements
- Tangible fixed assets +€100,753
up €100,753 (+17.1%), from €589,979 to €690,732
of which Assets under construction and advance payments: +€78,911
- Cash +€78,794
up €78,794 (+65.7%), from €119,952 to €198,746
mainly Trade debts (+€123,925) and Depreciation (+€105,805)
- Receivables within one year +€24,781
up €24,781 (+87.2%), from €28,405 to €53,186
of which Other amounts receivable: +€16,514
- Trade debts +€123,925
up €123,925 (+55.1%), from €225,105 to €349,030
- Debts after one year +€36,871
up €36,871 (+11.5%), from €320,808 to €357,679
- Current portion of long-term debt +€17,949
up €17,949 (+21.6%), from €83,261 to €101,210
- Staff costs +€111,496
up €111,496 (+28.3%), from €394,416 to €505,912
- Gross operating margin +€105,471
up €105,471 (+19.2%), from €548,700 to €654,171
- Depreciation -€9,831
down €9,831 (-8.5%), from €115,636 to €105,805
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 | €738,336 | €942,663 | +€204,327 | +27.7% |
| Fixed assets | 21/28 | €589,979 | €690,732 | +€100,753 | +17.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €589,979 | €690,732 | +€100,753 | +17.1% |
| Plant, machinery and equipment | 23 | €115,214 | €97,820 | -€17,393 | -15.1% |
| Furniture and vehicles | 24 | €9,380 | €10,003 | +€623 | +6.6% |
| Leasing and similar rights | 25 | €380,345 | €389,159 | +€8,814 | +2.3% |
| Other tangible fixed assets | 26 | €64,580 | €94,378 | +€29,798 | +46.1% |
| Assets under construction and advance payments | 27 | €20,460 | €99,371 | +€78,911 | +385.7% |
| Current assets | 29/58 | €148,357 | €251,931 | +€103,575 | +69.8% |
| Amounts receivable within one year | 40/41 | €28,405 | €53,186 | +€24,781 | +87.2% |
| Trade receivables | 40 | €10,009 | €18,277 | +€8,267 | +82.6% |
| Other amounts receivable | 41 | €18,396 | €34,909 | +€16,514 | +89.8% |
| Cash at bank and in hand | 54/58 | €119,952 | €198,746 | +€78,794 | +65.7% |
| Total equity and liabilities | 10/49 | €738,336 | €942,663 | +€204,327 | +27.7% |
| Equity | 10/15 | €57,916 | €65,434 | +€7,518 | +13.0% |
| Contributions | 10/11 | €57,170 | €57,170 | = | 0.0% |
| Profit (loss) carried forward | 14 | €746 | €8,264 | +€7,518 | +1007.1% |
| Amounts payable | 17/49 | €680,420 | €877,229 | +€196,810 | +28.9% |
| Amounts payable after more than one year | 17 | €320,808 | €357,679 | +€36,871 | +11.5% |
| Financial debts | 170/4 | €320,808 | €357,679 | +€36,871 | +11.5% |
| Amounts payable within one year | 42/48 | €359,611 | €512,269 | +€152,658 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €83,261 | €101,210 | +€17,949 | +21.6% |
| Trade debts | 44 | €225,105 | €349,030 | +€123,925 | +55.1% |
| Suppliers | 440/4 | €225,105 | €349,030 | +€123,925 | +55.1% |
| Advances received on contracts in progress | 46 | - | €1,602 | +€1,602 | |
| Taxes, remuneration and social security | 45 | €51,246 | €60,428 | +€9,182 | +17.9% |
| Taxes | 450/3 | €1,315 | €799 | -€517 | -39.3% |
| Remuneration and social security | 454/9 | €49,931 | €59,629 | +€9,698 | +19.4% |
| Accrued charges and deferred income | 492/3 | - | €7,281 | +€7,281 | |
| Remuneration, social security and pensions | 62 | €394,416 | €505,912 | +€111,496 | +28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,636 | €105,805 | -€9,831 | -8.5% |
| Other operating charges | 640/8 | €21,404 | €21,826 | +€422 | +2.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €548,700 | €654,171 | +€105,471 | +19.2% |
| Operating profit (loss) | 9901 | €17,243 | €20,627 | +€3,384 | +19.6% |
| Financial income | 75/76B | €298 | €1,782 | +€1,484 | +497.6% |
| Recurring financial income | 75 | €298 | €1,782 | +€1,484 | +497.6% |
| Financial charges | 65/66B | €13,817 | €14,864 | +€1,047 | +7.6% |
| Recurring financial charges | 65 | €13,817 | €14,864 | +€1,047 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €3,724 | €7,545 | +€3,821 | +102.6% |
| Income taxes | 67/77 | €2,971 | €27 | -€2,943 | -99.1% |
| Profit (loss) for the period | 9904 | €753 | €7,518 | +€6,765 | +898.5% |
| Profit (loss) for the period to be appropriated | 9905 | €753 | €7,518 | +€6,765 | +898.5% |
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 11 October 2026 via checked.be.