BS&MAT: 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.
BS&MAT
Largest movements
- Receivables within one year -€159,116
down €159,116 (-50.1%), from €317,812 to €158,696
of which Other amounts receivable: -€119,979
- Stocks and contracts +€117,624
up €117,624 (+21.4%), from €549,224 to €666,848
- Cash -€61,239
down €61,239 (-56.2%), from €108,940 to €47,701
mainly Stocks and contracts (-€117,624) and Trade debts (-€49,968)
- Deferred charges and accrued income +€20,000
new in 2025: €20,000
- Tangible fixed assets -€11,984
down €11,984 (-62.4%), from €19,190 to €7,206
of which Furniture and vehicles: -€11,454
- Trade debts -€49,968
down €49,968 (-10.9%), from €456,579 to €406,611
- Tax, wage and social debts -€40,062
down €40,062 (-59.2%), from €67,673 to €27,612
of which Taxes: -€22,633
- Profit (loss) carried forward +€12,147
up €12,147 (+2.8%), from €428,029 to €440,176
- Staff costs +€42,027
up €42,027 (+28.3%), from €148,598 to €190,626
- Taxes -€11,374
down €11,374 (-83.3%), from €13,660 to €2,287
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 | €997,965 | €903,250 | -€94,715 | -9.5% |
| Fixed assets | 21/28 | €21,990 | €10,006 | -€11,984 | -54.5% |
| Tangible fixed assets | 22/27 | €19,190 | €7,206 | -€11,984 | -62.4% |
| Plant, machinery and equipment | 23 | €1,302 | €772 | -€530 | -40.7% |
| Furniture and vehicles | 24 | €17,887 | €6,433 | -€11,454 | -64.0% |
| Financial fixed assets | 28 | €2,800 | €2,800 | = | 0.0% |
| Current assets | 29/58 | €975,976 | €893,245 | -€82,731 | -8.5% |
| Stocks and contracts in progress | 3 | €549,224 | €666,848 | +€117,624 | +21.4% |
| Stocks | 30/36 | €549,224 | €666,848 | +€117,624 | +21.4% |
| Amounts receivable within one year | 40/41 | €317,812 | €158,696 | -€159,116 | -50.1% |
| Trade receivables | 40 | €162,542 | €123,406 | -€39,136 | -24.1% |
| Other amounts receivable | 41 | €155,269 | €35,290 | -€119,979 | -77.3% |
| Cash at bank and in hand | 54/58 | €108,940 | €47,701 | -€61,239 | -56.2% |
| Deferred charges and accrued income | 490/1 | - | €20,000 | +€20,000 | |
| Total equity and liabilities | 10/49 | €997,965 | €903,250 | -€94,715 | -9.5% |
| Equity | 10/15 | €446,654 | €458,801 | +€12,147 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25 | €25 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25 | €25 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25 | €25 | = | 0.0% |
| Profit (loss) carried forward | 14 | €428,029 | €440,176 | +€12,147 | +2.8% |
| Amounts payable | 17/49 | €551,312 | €444,449 | -€106,862 | -19.4% |
| Amounts payable after more than one year | 17 | €5,442 | - | -€5,442 | |
| Financial debts | 170/4 | €5,442 | - | -€5,442 | |
| Amounts payable within one year | 42/48 | €545,870 | €444,449 | -€101,421 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €8,077 | €5,442 | -€2,635 | -32.6% |
| Trade debts | 44 | €456,579 | €406,611 | -€49,968 | -10.9% |
| Suppliers | 440/4 | €456,579 | €406,611 | -€49,968 | -10.9% |
| Taxes, remuneration and social security | 45 | €67,673 | €27,612 | -€40,062 | -59.2% |
| Taxes | 450/3 | €50,245 | €27,612 | -€22,633 | -45.0% |
| Remuneration and social security | 454/9 | €17,428 | - | -€17,428 | |
| Other amounts payable | 47/48 | €13,541 | €4,785 | -€8,756 | -64.7% |
| Remuneration, social security and pensions | 62 | €148,598 | €190,626 | +€42,027 | +28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,541 | €11,984 | -€1,558 | -11.5% |
| Other operating charges | 640/8 | €3,505 | €3,264 | -€241 | -6.9% |
| Gross operating margin | 9900 | €224,687 | €224,915 | +€228 | +0.1% |
| Operating profit (loss) | 9901 | €59,042 | €19,042 | -€40,000 | -67.7% |
| Financial income | 75/76B | €968 | €2,447 | +€1,479 | +152.7% |
| Recurring financial income | 75 | €968 | €2,447 | +€1,479 | +152.7% |
| Financial charges | 65/66B | €8,089 | €7,055 | -€1,034 | -12.8% |
| Recurring financial charges | 65 | €8,089 | €7,055 | -€1,034 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €51,922 | €14,434 | -€37,488 | -72.2% |
| Income taxes | 67/77 | €13,660 | €2,287 | -€11,374 | -83.3% |
| Profit (loss) for the period | 9904 | €38,262 | €12,147 | -€26,114 | -68.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,262 | €12,147 | -€26,114 | -68.3% |
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 12 October 2026 via checked.be.