BRYAN PRÉVOT: 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.
BRYAN PRÉVOT
Largest movements
- Tangible fixed assets +€183,150
up €183,150 (+64.9%), from €282,101 to €465,251
of which Plant, machinery and equipment: +€166,890
- Cash +€48,971
up €48,971 (+69.6%), from €70,311 to €119,282
mainly Debts after one year (+€153,461) and Depreciation (+€87,295)
- Stocks and contracts -€23,009
down €23,009 (-70.5%), from €32,650 to €9,641
- Deferred charges and accrued income +€14,698
up €14,698 (+213.3%), from €6,891 to €21,588
- Debts after one year +€153,461
up €153,461 (+193.7%), from €79,223 to €232,684
- Profit (loss) carried forward +€21,121
up €21,121 (+12.9%), from €163,132 to €184,253
- Current portion of long-term debt +€18,380
up €18,380 (+47.4%), from €38,738 to €57,118
- Tax, wage and social debts +€10,042
up €10,042 (+147.8%), from €6,792 to €16,834
of which Remuneration and social security: +€9,650
- Reserves +€10,000
up €10,000 (+100.0%), from €10,000 to €20,000
- Staff costs +€45,791
up €45,791 (+88.3%), from €51,868 to €97,660
- Gross operating margin +€45,520
up €45,520 (+24.1%), from €189,108 to €234,628
- Depreciation +€13,645
up €13,645 (+18.5%), from €73,650 to €87,295
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 | €417,515 | €641,401 | +€223,886 | +53.6% |
| Fixed assets | 21/28 | €282,101 | €465,251 | +€183,150 | +64.9% |
| Tangible fixed assets | 22/27 | €282,101 | €465,251 | +€183,150 | +64.9% |
| Plant, machinery and equipment | 23 | €154,927 | €321,817 | +€166,890 | +107.7% |
| Furniture and vehicles | 24 | €80,732 | €69,196 | -€11,536 | -14.3% |
| Leasing and similar rights | 25 | €46,442 | €74,238 | +€27,796 | +59.8% |
| Current assets | 29/58 | €135,413 | €176,150 | +€40,736 | +30.1% |
| Stocks and contracts in progress | 3 | €32,650 | €9,641 | -€23,009 | -70.5% |
| Stocks | 30/36 | €32,650 | €9,641 | -€23,009 | -70.5% |
| Amounts receivable within one year | 40/41 | €25,562 | €25,639 | +€77 | +0.3% |
| Trade receivables | 40 | €18,321 | €5,948 | -€12,373 | -67.5% |
| Other amounts receivable | 41 | €7,241 | €19,691 | +€12,450 | +171.9% |
| Cash at bank and in hand | 54/58 | €70,311 | €119,282 | +€48,971 | +69.6% |
| Deferred charges and accrued income | 490/1 | €6,891 | €21,588 | +€14,698 | +213.3% |
| Total equity and liabilities | 10/49 | €417,515 | €641,401 | +€223,886 | +53.6% |
| Equity | 10/15 | €178,132 | €209,253 | +€31,121 | +17.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €20,000 | +€10,000 | +100.0% |
| Distributable reserves | 133 | €10,000 | €20,000 | +€10,000 | +100.0% |
| Profit (loss) carried forward | 14 | €163,132 | €184,253 | +€21,121 | +12.9% |
| Amounts payable | 17/49 | €239,382 | €432,147 | +€192,765 | +80.5% |
| Amounts payable after more than one year | 17 | €79,223 | €232,684 | +€153,461 | +193.7% |
| Financial debts | 170/4 | €79,223 | €232,684 | +€153,461 | +193.7% |
| Amounts payable within one year | 42/48 | €160,053 | €199,460 | +€39,407 | +24.6% |
| Current portion of amounts payable after more than one year | 42 | €38,738 | €57,118 | +€18,380 | +47.4% |
| Trade debts | 44 | €29,535 | €31,617 | +€2,083 | +7.1% |
| Suppliers | 440/4 | €29,535 | €31,617 | +€2,083 | +7.1% |
| Taxes, remuneration and social security | 45 | €6,792 | €16,834 | +€10,042 | +147.8% |
| Taxes | 450/3 | €221 | €612 | +€391 | +177.4% |
| Remuneration and social security | 454/9 | €6,571 | €16,222 | +€9,650 | +146.9% |
| Other amounts payable | 47/48 | €84,989 | €93,892 | +€8,903 | +10.5% |
| Accrued charges and deferred income | 492/3 | €106 | €3 | -€103 | -96.9% |
| Remuneration, social security and pensions | 62 | €51,868 | €97,660 | +€45,791 | +88.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,650 | €87,295 | +€13,645 | +18.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €985 | - | -€985 | |
| Other operating charges | 640/8 | €1,684 | €1,744 | +€60 | +3.6% |
| Gross operating margin | 9900 | €189,108 | €234,628 | +€45,520 | +24.1% |
| Operating profit (loss) | 9901 | €60,920 | €47,929 | -€12,991 | -21.3% |
| Financial income | 75/76B | - | €332 | +€332 | |
| Recurring financial income | 75 | - | €332 | +€332 | |
| Financial charges | 65/66B | €4,766 | €4,974 | +€208 | +4.4% |
| Recurring financial charges | 65 | €4,766 | €4,974 | +€208 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €56,155 | €43,287 | -€12,867 | -22.9% |
| Income taxes | 67/77 | €12,109 | €12,166 | +€57 | +0.5% |
| Profit (loss) for the period | 9904 | €44,045 | €31,121 | -€12,924 | -29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €44,045 | €31,121 | -€12,924 | -29.3% |
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 8 October 2026 via checked.be.