BUSINESS SYSTEMS: 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 SYSTEMS
Largest movements
- Cash -€68,235
down €68,235 (-31.6%), from €215,799 to €147,563
mainly Other debts (-€98,573) and Tax, wage and social debts (-€47,363)
- Tangible fixed assets -€37,885
down €37,885 (-39.2%), from €96,590 to €58,705
of which Furniture and vehicles: -€36,645
- Receivables within one year +€16,393
up €16,393 (+8.9%), from €184,788 to €201,181
of which Trade receivables: +€15,563
- Other debts -€98,573
down €98,573 (-53.3%), from €185,080 to €86,507
- Reserves +€57,400
up €57,400 (+26.5%), from €216,559 to €273,959
- Tax, wage and social debts -€47,363
down €47,363 (-75.2%), from €62,971 to €15,608
of which Taxes: -€39,753
- Gross operating margin -€59,040
down €59,040 (-32.2%), from €183,242 to €124,202
- Taxes -€14,503
down €14,503 (-37.1%), from €39,142 to €24,639
- Write-downs -€13,193
down €13,193 (-100%), from €13,193 to €0
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 | €500,366 | €410,794 | -€89,571 | -17.9% |
| Fixed assets | 21/28 | €96,590 | €58,705 | -€37,885 | -39.2% |
| Tangible fixed assets | 22/27 | €96,590 | €58,705 | -€37,885 | -39.2% |
| Furniture and vehicles | 24 | €95,065 | €58,420 | -€36,645 | -38.5% |
| Other tangible fixed assets | 26 | €1,525 | €285 | -€1,240 | -81.3% |
| Current assets | 29/58 | €403,775 | €352,089 | -€51,686 | -12.8% |
| Amounts receivable within one year | 40/41 | €184,788 | €201,181 | +€16,393 | +8.9% |
| Trade receivables | 40 | €184,788 | €200,351 | +€15,563 | +8.4% |
| Other amounts receivable | 41 | - | €830 | +€830 | |
| Cash at bank and in hand | 54/58 | €215,799 | €147,563 | -€68,235 | -31.6% |
| Deferred charges and accrued income | 490/1 | €3,189 | €3,344 | +€156 | +4.9% |
| Total equity and liabilities | 10/49 | €500,366 | €410,794 | -€89,571 | -17.9% |
| Equity | 10/15 | €236,430 | €293,833 | +€57,402 | +24.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €216,559 | €273,959 | +€57,400 | +26.5% |
| Distributable reserves | 133 | €216,559 | €273,959 | +€57,400 | +26.5% |
| Profit (loss) carried forward | 14 | €1,279 | €1,281 | +€2 | +0.2% |
| Amounts payable | 17/49 | €263,935 | €116,961 | -€146,974 | -55.7% |
| Amounts payable within one year | 42/48 | €263,935 | €116,961 | -€146,974 | -55.7% |
| Trade debts | 44 | €15,884 | €14,846 | -€1,038 | -6.5% |
| Suppliers | 440/4 | €15,884 | €14,846 | -€1,038 | -6.5% |
| Taxes, remuneration and social security | 45 | €62,971 | €15,608 | -€47,363 | -75.2% |
| Taxes | 450/3 | €55,361 | €15,608 | -€39,753 | -71.8% |
| Remuneration and social security | 454/9 | €7,610 | €0 | -€7,610 | -100% |
| Other amounts payable | 47/48 | €185,080 | €86,507 | -€98,573 | -53.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,810 | €38,992 | -€1,818 | -4.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €13,193 | €0 | -€13,193 | -100% |
| Other operating charges | 640/8 | €2,731 | €3,565 | +€835 | +30.6% |
| Gross operating margin | 9900 | €183,242 | €124,202 | -€59,040 | -32.2% |
| Operating profit (loss) | 9901 | €126,508 | €81,644 | -€44,864 | -35.5% |
| Financial income | 75/76B | €828 | €1,492 | +€664 | +80.1% |
| Recurring financial income | 75 | €828 | €1,492 | +€664 | +80.1% |
| Financial charges | 65/66B | €268 | €1,094 | +€826 | +308% |
| Recurring financial charges | 65 | €268 | €1,094 | +€826 | +308% |
| Profit (loss) for the period before taxes | 9903 | €127,067 | €82,041 | -€45,026 | -35.4% |
| Income taxes | 67/77 | €39,142 | €24,639 | -€14,503 | -37.1% |
| Profit (loss) for the period | 9904 | €87,925 | €57,402 | -€30,523 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €87,925 | €57,402 | -€30,523 | -34.7% |
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 19 October 2026 via checked.be.