BUSINESS HEATING: 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.
BUSINESS HEATING
Largest movements
- Receivables within one year -€699,319
down €699,319 (-65.0%), from €1.1m to €376,681
of which Trade receivables: -€686,876
- Cash -€73,848
down €73,848 (-18.1%), from €408,186 to €334,338
mainly Advances received (-€491,484) and Trade debts (-€411,305)
- Deferred charges and accrued income +€29,308
up €29,308 (+2,776%), from €1,056 to €30,364
- Tangible fixed assets -€17,236
down €17,236 (-14.1%), from €121,950 to €104,715
of which Furniture and vehicles: -€23,943
- Advances received -€491,484
no longer reported in 2024 (was €491,484)
- Trade debts -€411,305
down €411,305 (-81.2%), from €506,251 to €94,946
- Reserves +€92,000
up €92,000 (+92.0%), from €100,000 to €192,000
- Tax, wage and social debts +€45,852
up €45,852 (+74.7%), from €61,386 to €107,238
of which Taxes: +€37,133
- Other debts +€18,132
new in 2024: €18,132
- Staff costs +€30,640
up €30,640 (+93.4%), from €32,817 to €63,458
- Taxes -€27,514
down €27,514 (-39.1%), from €70,289 to €42,775
- Depreciation +€11,736
up €11,736 (+38.4%), from €30,525 to €42,262
- Gross operating margin +€2,936
up €2,936 (+1.2%), from €238,384 to €241,321
- Financial income -€2,425
down €2,425 (-44.2%), from €5,484 to €3,058
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,607,193 | €846,098 | -€761,095 | -47.4% |
| Fixed assets | 21/28 | €121,950 | €104,715 | -€17,236 | -14.1% |
| Tangible fixed assets | 22/27 | €121,950 | €104,715 | -€17,236 | -14.1% |
| Plant, machinery and equipment | 23 | €26,494 | €25,448 | -€1,047 | -4.0% |
| Furniture and vehicles | 24 | €82,590 | €58,647 | -€23,943 | -29.0% |
| Other tangible fixed assets | 26 | €12,866 | €20,620 | +€7,754 | +60.3% |
| Current assets | 29/58 | €1,485,243 | €741,383 | -€743,859 | -50.1% |
| Amounts receivable within one year | 40/41 | €1,076,001 | €376,681 | -€699,319 | -65.0% |
| Trade receivables | 40 | €1,062,882 | €376,007 | -€686,876 | -64.6% |
| Other amounts receivable | 41 | €13,118 | €675 | -€12,443 | -94.9% |
| Cash at bank and in hand | 54/58 | €408,186 | €334,338 | -€73,848 | -18.1% |
| Deferred charges and accrued income | 490/1 | €1,056 | €30,364 | +€29,308 | +2,776% |
| Total equity and liabilities | 10/49 | €1,607,193 | €846,098 | -€761,095 | -47.4% |
| Equity | 10/15 | €242,781 | €334,782 | +€92,001 | +37.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €192,000 | +€92,000 | +92.0% |
| Distributable reserves | 133 | €100,000 | €192,000 | +€92,000 | +92.0% |
| Profit (loss) carried forward | 14 | €132,781 | €132,782 | +€1 | 0.0% |
| Amounts payable | 17/49 | €1,364,413 | €511,316 | -€853,097 | -62.5% |
| Amounts payable after more than one year | 17 | €269,292 | €255,000 | -€14,292 | -5.3% |
| Other amounts payable | 178/9 | €269,292 | €255,000 | -€14,292 | -5.3% |
| Amounts payable within one year | 42/48 | €1,059,121 | €220,316 | -€838,805 | -79.2% |
| Trade debts | 44 | €506,251 | €94,946 | -€411,305 | -81.2% |
| Suppliers | 440/4 | €506,251 | €94,946 | -€411,305 | -81.2% |
| Advances received on contracts in progress | 46 | €491,484 | - | -€491,484 | |
| Taxes, remuneration and social security | 45 | €61,386 | €107,238 | +€45,852 | +74.7% |
| Taxes | 450/3 | €60,661 | €97,794 | +€37,133 | +61.2% |
| Remuneration and social security | 454/9 | €725 | €9,444 | +€8,719 | +1,203% |
| Other amounts payable | 47/48 | - | €18,132 | +€18,132 | |
| Accrued charges and deferred income | 492/3 | €36,000 | €36,000 | = | 0.0% |
| Non-recurring operating income | 76A | €12,236 | - | -€12,236 | |
| Remuneration, social security and pensions | 62 | €32,817 | €63,458 | +€30,640 | +93.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,525 | €42,262 | +€11,736 | +38.4% |
| Other operating charges | 640/8 | €1,222 | €2,455 | +€1,233 | +101% |
| Non-recurring operating charges | 66A | €150 | - | -€150 | |
| Gross operating margin | 9900 | €238,384 | €241,321 | +€2,936 | +1.2% |
| Operating profit (loss) | 9901 | €173,670 | €133,147 | -€40,523 | -23.3% |
| Financial income | 75/76B | €5,484 | €3,058 | -€2,425 | -44.2% |
| Recurring financial income | 75 | €5,484 | €3,058 | -€2,425 | -44.2% |
| Financial charges | 65/66B | €3,844 | €1,429 | -€2,416 | -62.8% |
| Recurring financial charges | 65 | €3,844 | €1,429 | -€2,416 | -62.8% |
| Profit (loss) for the period before taxes | 9903 | €175,309 | €134,777 | -€40,533 | -23.1% |
| Income taxes | 67/77 | €70,289 | €42,775 | -€27,514 | -39.1% |
| Profit (loss) for the period | 9904 | €105,021 | €92,001 | -€13,019 | -12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €105,021 | €92,001 | -€13,019 | -12.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.