BR 2: 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.
BR 2
Largest movements
- Tangible fixed assets -€73,493
down €73,493 (-24.9%), from €295,157 to €221,663
of which Furniture and vehicles: -€52,696
- Debts after one year -€56,198
down €56,198 (-25.2%), from €223,438 to €167,240
- Trade debts +€24,757
up €24,757 (+66.2%), from €37,419 to €62,176
- Short-term financial debts +€21,015
new in 2025: €21,015
- Current portion of long-term debt -€19,259
down €19,259 (-41.8%), from €46,029 to €26,769
- Tax, wage and social debts -€17,145
down €17,145 (-45.6%), from €37,598 to €20,453
of which Remuneration and social security: -€10,202
- Gross operating margin +€26,940
up €26,940 (+31.8%), from €84,685 to €111,625
- Write-downs -€14,600
no longer reported in 2025 (was €14,600)
- Staff costs +€13,630
up €13,630 (+34.3%), from €39,714 to €53,344
- Depreciation -€11,805
down €11,805 (-21.7%), from €54,441 to €42,636
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €452,203 | €375,603 | -€76,600 | -16.9% |
| Fixed assets | 21/28 | €295,317 | €221,823 | -€73,493 | -24.9% |
| Tangible fixed assets | 22/27 | €295,157 | €221,663 | -€73,493 | -24.9% |
| Land and buildings | 22 | €114,974 | €110,842 | -€4,132 | -3.6% |
| Plant, machinery and equipment | 23 | €117,354 | €100,688 | -€16,666 | -14.2% |
| Furniture and vehicles | 24 | €62,829 | €10,133 | -€52,696 | -83.9% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €156,886 | €153,779 | -€3,107 | -2.0% |
| Stocks and contracts in progress | 3 | €52,966 | €52,879 | -€87 | -0.2% |
| Stocks | 30/36 | €52,966 | €52,879 | -€87 | -0.2% |
| Amounts receivable within one year | 40/41 | €96,757 | €95,518 | -€1,240 | -1.3% |
| Trade receivables | 40 | €90,673 | €85,518 | -€5,156 | -5.7% |
| Other amounts receivable | 41 | €6,084 | €10,000 | +€3,916 | +64.4% |
| Deferred charges and accrued income | 490/1 | €7,163 | €5,383 | -€1,780 | -24.9% |
| Total equity and liabilities | 10/49 | €452,203 | €375,603 | -€76,600 | -16.9% |
| Equity | 10/15 | €83,834 | €68,901 | -€14,933 | -17.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,850 | €31,850 | = | 0.0% |
| Distributable reserves | 133 | €31,850 | €31,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,384 | €18,451 | -€14,933 | -44.7% |
| Amounts payable | 17/49 | €368,369 | €306,702 | -€61,667 | -16.7% |
| Amounts payable after more than one year | 17 | €223,438 | €167,240 | -€56,198 | -25.2% |
| Financial debts | 170/4 | €223,438 | €167,240 | -€56,198 | -25.2% |
| Amounts payable within one year | 42/48 | €144,431 | €139,461 | -€4,969 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €46,029 | €26,769 | -€19,259 | -41.8% |
| Financial debts | 43 | - | €21,015 | +€21,015 | |
| Credit institutions | 430/8 | - | €21,015 | +€21,015 | |
| Trade debts | 44 | €37,419 | €62,176 | +€24,757 | +66.2% |
| Suppliers | 440/4 | €37,419 | €62,176 | +€24,757 | +66.2% |
| Taxes, remuneration and social security | 45 | €37,598 | €20,453 | -€17,145 | -45.6% |
| Taxes | 450/3 | €14,705 | €7,761 | -€6,943 | -47.2% |
| Remuneration and social security | 454/9 | €22,893 | €12,691 | -€10,202 | -44.6% |
| Other amounts payable | 47/48 | €23,386 | €9,049 | -€14,336 | -61.3% |
| Accrued charges and deferred income | 492/3 | €500 | - | -€500 | |
| Non-recurring operating income | 76A | €6,683 | €15,323 | +€8,640 | +129.3% |
| Remuneration, social security and pensions | 62 | €39,714 | €53,344 | +€13,630 | +34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,441 | €42,636 | -€11,805 | -21.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,600 | - | -€14,600 | |
| Other operating charges | 640/8 | €4,170 | €4,776 | +€606 | +14.5% |
| Non-recurring operating charges | 66A | €3,547 | €10,168 | +€6,621 | +186.7% |
| Gross operating margin | 9900 | €84,685 | €111,625 | +€26,940 | +31.8% |
| Operating profit (loss) | 9901 | -€31,786 | €701 | +€32,487 | |
| Financial income | 75/76B | €632 | €47 | -€584 | -92.5% |
| Recurring financial income | 75 | €632 | €47 | -€584 | -92.5% |
| Financial charges | 65/66B | €15,989 | €15,682 | -€307 | -1.9% |
| Recurring financial charges | 65 | €15,989 | €15,682 | -€307 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | -€47,143 | -€14,933 | +€32,210 | +68.3% |
| Income taxes | 67/77 | -€979 | - | +€979 | |
| Profit (loss) for the period | 9904 | -€46,164 | -€14,933 | +€31,231 | +67.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,164 | -€14,933 | +€31,231 | +67.7% |
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.