Bones: 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.
Bones
Largest movements
- Receivables within one year -€229,881
down €229,881 (-72.8%), from €315,915 to €86,034
of which Other amounts receivable: -€229,391
- Cash +€126,879
up €126,879 (+40.8%), from €310,914 to €437,793
mainly Receivables within one year (+€229,881) and Net result for the year (+€202,899)
- Other debts -€315,520
down €315,520 (-96.1%), from €328,297 to €12,777
- Reserves +€202,899
up €202,899 (+221.5%), from €91,596 to €294,495
- Tax, wage and social debts +€8,247
up €8,247 (+6.6%), from €124,639 to €132,886
of which Remuneration and social security: +€15,561
- Gross operating margin +€109,347
up €109,347 (+12.1%), from €902,860 to €1.0m
- Staff costs +€36,698
up €36,698 (+5.6%), from €652,421 to €689,119
- Financial charges +€25,266
up €25,266 (+320.9%), from €7,875 to €33,141
- Taxes +€15,947
up €15,947 (+24.6%), from €64,727 to €80,674
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 | €679,637 | €575,808 | -€103,830 | -15.3% |
| Fixed assets | 21/28 | €34,498 | €32,035 | -€2,463 | -7.1% |
| Tangible fixed assets | 22/27 | €34,498 | €32,035 | -€2,463 | -7.1% |
| Land and buildings | 22 | €4,227 | €3,337 | -€890 | -21.1% |
| Plant, machinery and equipment | 23 | €23,703 | €17,957 | -€5,746 | -24.2% |
| Furniture and vehicles | 24 | €6,567 | €10,741 | +€4,173 | +63.5% |
| Current assets | 29/58 | €645,140 | €543,773 | -€101,367 | -15.7% |
| Stocks and contracts in progress | 3 | €15,677 | €15,402 | -€275 | -1.8% |
| Stocks | 30/36 | €15,677 | €15,402 | -€275 | -1.8% |
| Amounts receivable within one year | 40/41 | €315,915 | €86,034 | -€229,881 | -72.8% |
| Trade receivables | 40 | €7,575 | €7,085 | -€490 | -6.5% |
| Other amounts receivable | 41 | €308,340 | €78,949 | -€229,391 | -74.4% |
| Cash at bank and in hand | 54/58 | €310,914 | €437,793 | +€126,879 | +40.8% |
| Deferred charges and accrued income | 490/1 | €2,634 | €4,544 | +€1,909 | +72.5% |
| Total equity and liabilities | 10/49 | €679,637 | €575,808 | -€103,830 | -15.3% |
| Equity | 10/15 | €141,596 | €344,495 | +€202,899 | +143.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €91,596 | €294,495 | +€202,899 | +221.5% |
| Distributable reserves | 133 | €91,596 | €294,495 | +€202,899 | +221.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €538,042 | €231,313 | -€306,729 | -57.0% |
| Amounts payable within one year | 42/48 | €536,770 | €226,919 | -€309,851 | -57.7% |
| Trade debts | 44 | €83,834 | €81,256 | -€2,578 | -3.1% |
| Suppliers | 440/4 | €83,834 | €81,256 | -€2,578 | -3.1% |
| Taxes, remuneration and social security | 45 | €124,639 | €132,886 | +€8,247 | +6.6% |
| Taxes | 450/3 | €84,670 | €77,356 | -€7,315 | -8.6% |
| Remuneration and social security | 454/9 | €39,969 | €55,530 | +€15,561 | +38.9% |
| Other amounts payable | 47/48 | €328,297 | €12,777 | -€315,520 | -96.1% |
| Accrued charges and deferred income | 492/3 | €1,272 | €4,394 | +€3,122 | +245.5% |
| Remuneration, social security and pensions | 62 | €652,421 | €689,119 | +€36,698 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,331 | €8,583 | +€1,252 | +17.1% |
| Other operating charges | 640/8 | €2,964 | €4,717 | +€1,753 | +59.1% |
| Gross operating margin | 9900 | €902,860 | €1,012,207 | +€109,347 | +12.1% |
| Operating profit (loss) | 9901 | €240,144 | €309,788 | +€69,644 | +29.0% |
| Financial income | 75/76B | €8,076 | €6,926 | -€1,149 | -14.2% |
| Recurring financial income | 75 | €8,076 | €6,926 | -€1,149 | -14.2% |
| Financial charges | 65/66B | €7,875 | €33,141 | +€25,266 | +320.9% |
| Recurring financial charges | 65 | €7,875 | €33,141 | +€25,266 | +320.9% |
| Profit (loss) for the period before taxes | 9903 | €240,345 | €283,573 | +€43,228 | +18.0% |
| Income taxes | 67/77 | €64,727 | €80,674 | +€15,947 | +24.6% |
| Profit (loss) for the period | 9904 | €175,618 | €202,899 | +€27,282 | +15.5% |
| Profit (loss) for the period to be appropriated | 9905 | €175,618 | €202,899 | +€27,282 | +15.5% |
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 6 October 2026 via checked.be.