BLOCKS AND STAMPS: 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.
BLOCKS AND STAMPS
Largest movements
- Receivables within one year -€200,286
down €200,286 (-57.4%), from €349,172 to €148,886
of which Trade receivables: -€207,302
- Tangible fixed assets +€75,118
up €75,118 (+508%), from €14,794 to €89,912
of which Plant, machinery and equipment: +€44,200
- Stocks and contracts +€30,000
up €30,000 (+8.2%), from €365,000 to €395,000
- Cash +€18,177
up €18,177 (+73.7%), from €24,679 to €42,855
mainly Receivables within one year (+€200,286) and Current portion of long-term debt (+€138,881)
- Deferred charges and accrued income +€11,990
up €11,990 (+13.3%), from €90,000 to €101,990
- Trade debts -€260,889
down €260,889 (-67.8%), from €384,882 to €123,994
- Current portion of long-term debt +€138,881
up €138,881 (+525%), from €26,473 to €165,354
- Short-term financial debts +€102,100
up €102,100 (+204%), from €50,000 to €152,100
of which Credit institutions: +€152,100
- Tax, wage and social debts -€37,438
down €37,438 (-30.5%), from €122,921 to €85,483
of which Remuneration and social security: -€32,530
- Debts after one year -€9,353
down €9,353 (-4.7%), from €198,974 to €189,621
- Financial charges +€30,243
up €30,243 (+200%), from €15,154 to €45,397
- Staff costs -€16,546
down €16,546 (-4.7%), from €352,189 to €335,644
- Gross operating margin +€12,872
up €12,872 (+3.4%), from €381,813 to €394,684
- Depreciation +€6,962
up €6,962 (+211%), from €3,307 to €10,268
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 | €855,974 | €790,973 | -€65,001 | -7.6% |
| Fixed assets | 21/28 | €27,124 | €102,242 | +€75,118 | +277% |
| Tangible fixed assets | 22/27 | €14,794 | €89,912 | +€75,118 | +508% |
| Plant, machinery and equipment | 23 | €14,794 | €58,994 | +€44,200 | +299% |
| Furniture and vehicles | 24 | - | €30,918 | +€30,918 | |
| Financial fixed assets | 28 | €12,330 | €12,330 | = | 0.0% |
| Current assets | 29/58 | €828,850 | €688,731 | -€140,119 | -16.9% |
| Stocks and contracts in progress | 3 | €365,000 | €395,000 | +€30,000 | +8.2% |
| Stocks | 30/36 | €365,000 | €395,000 | +€30,000 | +8.2% |
| Amounts receivable within one year | 40/41 | €349,172 | €148,886 | -€200,286 | -57.4% |
| Trade receivables | 40 | €292,220 | €84,919 | -€207,302 | -70.9% |
| Other amounts receivable | 41 | €56,951 | €63,967 | +€7,016 | +12.3% |
| Cash at bank and in hand | 54/58 | €24,679 | €42,855 | +€18,177 | +73.7% |
| Deferred charges and accrued income | 490/1 | €90,000 | €101,990 | +€11,990 | +13.3% |
| Total equity and liabilities | 10/49 | €855,974 | €790,973 | -€65,001 | -7.6% |
| Equity | 10/15 | €67,354 | €70,421 | +€3,067 | +4.6% |
| Contributions | 10/11 | €242,936 | €242,936 | = | 0.0% |
| Capital | 10 | €242,936 | €242,936 | = | 0.0% |
| Issued capital | 100 | €242,936 | €242,936 | = | 0.0% |
| Reserves | 13 | €27,678 | €27,678 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,294 | €24,294 | = | 0.0% |
| Legal reserve | 130 | €24,294 | €24,294 | = | 0.0% |
| Distributable reserves | 133 | €3,385 | €3,385 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€203,260 | -€200,193 | +€3,067 | +1.5% |
| Amounts payable | 17/49 | €788,620 | €720,552 | -€68,068 | -8.6% |
| Amounts payable after more than one year | 17 | €198,974 | €189,621 | -€9,353 | -4.7% |
| Financial debts | 170/4 | €198,974 | €189,621 | -€9,353 | -4.7% |
| Amounts payable within one year | 42/48 | €584,277 | €526,931 | -€57,346 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €26,473 | €165,354 | +€138,881 | +525% |
| Financial debts | 43 | €50,000 | €152,100 | +€102,100 | +204% |
| Credit institutions | 430/8 | - | €152,100 | +€152,100 | |
| Other loans | 439 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €384,882 | €123,994 | -€260,889 | -67.8% |
| Suppliers | 440/4 | €384,882 | €123,994 | -€260,889 | -67.8% |
| Taxes, remuneration and social security | 45 | €122,921 | €85,483 | -€37,438 | -30.5% |
| Taxes | 450/3 | €52,610 | €47,702 | -€4,908 | -9.3% |
| Remuneration and social security | 454/9 | €70,311 | €37,782 | -€32,530 | -46.3% |
| Accrued charges and deferred income | 492/3 | €5,368 | €4,000 | -€1,368 | -25.5% |
| Remuneration, social security and pensions | 62 | €352,189 | €335,644 | -€16,546 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,307 | €10,268 | +€6,962 | +211% |
| Other operating charges | 640/8 | €8,886 | €8,166 | -€720 | -8.1% |
| Gross operating margin | 9900 | €381,813 | €394,684 | +€12,872 | +3.4% |
| Operating profit (loss) | 9901 | €17,431 | €40,607 | +€23,176 | +133% |
| Financial income | 75/76B | €9,182 | €7,857 | -€1,324 | -14.4% |
| Recurring financial income | 75 | €9,182 | €7,857 | -€1,324 | -14.4% |
| Financial charges | 65/66B | €15,154 | €45,397 | +€30,243 | +200% |
| Recurring financial charges | 65 | €15,154 | €45,397 | +€30,243 | +200% |
| Profit (loss) for the period before taxes | 9903 | €11,458 | €3,067 | -€8,392 | -73.2% |
| Profit (loss) for the period | 9904 | €11,458 | €3,067 | -€8,392 | -73.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,458 | €3,067 | -€8,392 | -73.2% |
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 23 October 2026 via checked.be.