BUSINESS PACK: 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 PACK
Largest movements
- Cash +€42,452
up €42,452 (+150%), from €28,374 to €70,825
mainly Net result for the year (+€95,642) and Trade debts (+€45,667)
- Receivables within one year +€38,751
up €38,751 (+10.1%), from €383,140 to €421,891
of which Trade receivables: +€42,781
- Stocks and contracts +€27,270
up €27,270 (+298%), from €9,142 to €36,412
- Tangible fixed assets +€8,450
up €8,450 (+169%), from €5,002 to €13,452
- Profit (loss) carried forward +€95,642
up €95,642 (+60.9%), from €157,072 to €252,714
- Trade debts +€45,667
up €45,667 (+32.1%), from €142,046 to €187,713
- Tax, wage and social debts -€24,698
down €24,698 (-23.4%), from €105,413 to €80,715
of which Remuneration and social security: -€12,638
- Gross operating margin -€47,142
down €47,142 (-17.1%), from €276,477 to €229,335
- Taxes -€9,823
down €9,823 (-19.2%), from €51,120 to €41,297
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.
Derived cash bridge
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 | €425,658 | €542,581 | +€116,923 | +27.5% |
| Fixed assets | 21/28 | €5,002 | €13,452 | +€8,450 | +169% |
| Tangible fixed assets | 22/27 | €5,002 | €13,452 | +€8,450 | +169% |
| Furniture and vehicles | 24 | €5,002 | €13,452 | +€8,450 | +169% |
| Current assets | 29/58 | €420,656 | €529,129 | +€108,473 | +25.8% |
| Stocks and contracts in progress | 3 | €9,142 | €36,412 | +€27,270 | +298% |
| Stocks | 30/36 | €9,142 | €36,412 | +€27,270 | +298% |
| Amounts receivable within one year | 40/41 | €383,140 | €421,891 | +€38,751 | +10.1% |
| Trade receivables | 40 | €369,943 | €412,724 | +€42,781 | +11.6% |
| Other amounts receivable | 41 | €13,198 | €9,167 | -€4,030 | -30.5% |
| Cash at bank and in hand | 54/58 | €28,374 | €70,825 | +€42,452 | +150% |
| Total equity and liabilities | 10/49 | €425,658 | €542,581 | +€116,923 | +27.5% |
| Equity | 10/15 | €175,851 | €271,493 | +€95,642 | +54.4% |
| Contributions | 10/11 | €18,200 | €18,200 | = | 0.0% |
| Contributions outside capital | 11 | €18,200 | €18,200 | = | 0.0% |
| Share premium | 1100/10 | €18,200 | €18,200 | = | 0.0% |
| Reserves | 13 | €579 | €579 | = | 0.0% |
| Distributable reserves | 133 | €579 | €579 | = | 0.0% |
| Profit (loss) carried forward | 14 | €157,072 | €252,714 | +€95,642 | +60.9% |
| Amounts payable | 17/49 | €249,807 | €271,088 | +€21,281 | +8.5% |
| Amounts payable within one year | 42/48 | €247,467 | €268,748 | +€21,281 | +8.6% |
| Trade debts | 44 | €142,046 | €187,713 | +€45,667 | +32.1% |
| Suppliers | 440/4 | €142,046 | €187,713 | +€45,667 | +32.1% |
| Taxes, remuneration and social security | 45 | €105,413 | €80,715 | -€24,698 | -23.4% |
| Taxes | 450/3 | €76,538 | €64,477 | -€12,060 | -15.8% |
| Remuneration and social security | 454/9 | €28,875 | €16,237 | -€12,638 | -43.8% |
| Other amounts payable | 47/48 | €8 | €320 | +€312 | +3,714% |
| Accrued charges and deferred income | 492/3 | €2,340 | €2,340 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €81,107 | €79,186 | -€1,921 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,336 | €2,050 | -€1,286 | -38.5% |
| Other operating charges | 640/8 | €11,899 | €10,997 | -€902 | -7.6% |
| Gross operating margin | 9900 | €276,477 | €229,335 | -€47,142 | -17.1% |
| Operating profit (loss) | 9901 | €180,135 | €137,101 | -€43,034 | -23.9% |
| Financial income | 75/76B | - | €8 | +€8 | |
| Recurring financial income | 75 | - | €8 | +€8 | |
| Financial charges | 65/66B | €153 | €170 | +€17 | +11.2% |
| Recurring financial charges | 65 | €153 | €170 | +€17 | +11.2% |
| Profit (loss) for the period before taxes | 9903 | €179,981 | €136,939 | -€43,043 | -23.9% |
| Income taxes | 67/77 | €51,120 | €41,297 | -€9,823 | -19.2% |
| Profit (loss) for the period | 9904 | €128,861 | €95,642 | -€33,220 | -25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €128,861 | €95,642 | -€33,220 | -25.8% |
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 22 October 2026 via checked.be.