bittersweet: 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.
bittersweet
Largest movements
- Receivables within one year -€61,261
down €61,261 (-24.3%), from €252,275 to €191,015
of which Other amounts receivable: -€62,666
- Cash +€52,428
up €52,428 (+22.8%), from €230,445 to €282,872
mainly Net result for the year (+€79,494) and Receivables within one year (+€61,261)
- Tangible fixed assets +€10,709
up €10,709 (+38.2%), from €28,042 to €38,751
of which Plant, machinery and equipment: +€9,610
- Stocks and contracts +€6,775
up €6,775 (+48.4%), from €14,009 to €20,785
- Tax, wage and social debts +€9,831
up €9,831 (+33.2%), from €29,589 to €39,419
of which Taxes: +€8,612
- Gross operating margin -€28,070
down €28,070 (-7.8%), from €358,826 to €330,756
- Staff costs -€22,521
down €22,521 (-9.3%), from €243,090 to €220,569
- Financial income +€17,278
up €17,278 (+172778200.0%), from €0 to €17,278
- Taxes +€4,482
up €4,482 (+17.5%), from €25,589 to €30,070
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 | €531,172 | €539,532 | +€8,360 | +1.6% |
| Fixed assets | 21/28 | €34,042 | €44,751 | +€10,709 | +31.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €28,042 | €38,751 | +€10,709 | +38.2% |
| Land and buildings | 22 | €553 | €369 | -€184 | -33.3% |
| Plant, machinery and equipment | 23 | €23,985 | €33,595 | +€9,610 | +40.1% |
| Furniture and vehicles | 24 | €3,504 | €4,787 | +€1,283 | +36.6% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €497,130 | €494,781 | -€2,349 | -0.5% |
| Stocks and contracts in progress | 3 | €14,009 | €20,785 | +€6,775 | +48.4% |
| Stocks | 30/36 | €14,009 | €20,785 | +€6,775 | +48.4% |
| Amounts receivable within one year | 40/41 | €252,275 | €191,015 | -€61,261 | -24.3% |
| Trade receivables | 40 | €9,313 | €10,719 | +€1,405 | +15.1% |
| Other amounts receivable | 41 | €242,962 | €180,296 | -€62,666 | -25.8% |
| Cash at bank and in hand | 54/58 | €230,445 | €282,872 | +€52,428 | +22.8% |
| Deferred charges and accrued income | 490/1 | €401 | €109 | -€292 | -72.8% |
| Total equity and liabilities | 10/49 | €531,172 | €539,532 | +€8,360 | +1.6% |
| Equity | 10/15 | €481,737 | €478,307 | -€3,431 | -0.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €469,337 | €465,907 | -€3,431 | -0.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €467,477 | €464,047 | -€3,431 | -0.7% |
| Amounts payable | 17/49 | €49,434 | €61,225 | +€11,791 | +23.9% |
| Amounts payable within one year | 42/48 | €49,434 | €61,225 | +€11,791 | +23.9% |
| Trade debts | 44 | €18,880 | €19,627 | +€747 | +4.0% |
| Suppliers | 440/4 | €18,880 | €19,627 | +€747 | +4.0% |
| Taxes, remuneration and social security | 45 | €29,589 | €39,419 | +€9,831 | +33.2% |
| Taxes | 450/3 | €14,727 | €23,339 | +€8,612 | +58.5% |
| Remuneration and social security | 454/9 | €14,861 | €16,080 | +€1,219 | +8.2% |
| Other amounts payable | 47/48 | €966 | €2,178 | +€1,213 | +125.6% |
| Remuneration, social security and pensions | 62 | €243,090 | €220,569 | -€22,521 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,498 | €11,909 | -€2,589 | -17.9% |
| Other operating charges | 640/8 | €3,465 | €3,185 | -€280 | -8.1% |
| Non-recurring operating charges | 66A | €871 | - | -€871 | |
| Gross operating margin | 9900 | €358,826 | €330,756 | -€28,070 | -7.8% |
| Operating profit (loss) | 9901 | €96,902 | €95,093 | -€1,809 | -1.9% |
| Financial income | 75/76B | €0 | €17,278 | +€17,278 | +172778200.0% |
| Recurring financial income | 75 | €0 | €17,278 | +€17,278 | +172778200.0% |
| Financial charges | 65/66B | €2,819 | €2,806 | -€13 | -0.4% |
| Recurring financial charges | 65 | €2,819 | €2,806 | -€13 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €94,084 | €109,565 | +€15,481 | +16.5% |
| Income taxes | 67/77 | €25,589 | €30,070 | +€4,482 | +17.5% |
| Profit (loss) for the period | 9904 | €68,495 | €79,494 | +€11,000 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €68,495 | €79,494 | +€11,000 | +16.1% |
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.