BUSINESS Training: 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 Training
Largest movements
- Receivables within one year +€111,740
up €111,740 (+20.1%), from €556,519 to €668,259
of which Trade receivables: +€65,224
- Other debts +€589,494
up €589,494 (+3,302%), from €17,850 to €607,344
- Profit (loss) carried forward -€199,548
down €199,548 (-70.3%), from -€283,854 to -€483,403
- Tax, wage and social debts -€168,621
down €168,621 (-27.3%), from €618,762 to €450,141
of which Remuneration and social security: -€119,862
- Current portion of long-term debt -€82,144
down €82,144 (-22.5%), from €365,386 to €283,242
- Short-term financial debts -€79,254
no longer reported in 2025 (was €79,254)
- Gross operating margin -€351,497
down €351,497 (-43.0%), from €817,363 to €465,866
- Staff costs -€281,120
down €281,120 (-35.0%), from €803,955 to €522,835
- Other operating charges +€31,414
up €31,414 (+91.1%), from €34,494 to €65,908
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 | €1,663,144 | €1,758,754 | +€95,610 | +5.7% |
| Fixed assets | 21/28 | €1,091,176 | €1,076,231 | -€14,945 | -1.4% |
| Tangible fixed assets | 22/27 | €18,831 | €2,039 | -€16,792 | -89.2% |
| Furniture and vehicles | 24 | €18,831 | €2,039 | -€16,792 | -89.2% |
| Financial fixed assets | 28 | €1,072,345 | €1,074,192 | +€1,847 | +0.2% |
| Current assets | 29/58 | €571,968 | €682,523 | +€110,555 | +19.3% |
| Amounts receivable within one year | 40/41 | €556,519 | €668,259 | +€111,740 | +20.1% |
| Trade receivables | 40 | €518,536 | €583,761 | +€65,224 | +12.6% |
| Other amounts receivable | 41 | €37,983 | €84,498 | +€46,516 | +122% |
| Cash at bank and in hand | 54/58 | €1,045 | €8,083 | +€7,038 | +673% |
| Deferred charges and accrued income | 490/1 | €14,403 | €6,181 | -€8,223 | -57.1% |
| Total equity and liabilities | 10/49 | €1,663,144 | €1,758,754 | +€95,610 | +5.7% |
| Equity | 10/15 | -€146,354 | -€345,903 | -€199,548 | -136% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €12,500 | €12,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€283,854 | -€483,403 | -€199,548 | -70.3% |
| Amounts payable | 17/49 | €1,809,498 | €2,104,657 | +€295,159 | +16.3% |
| Amounts payable after more than one year | 17 | €34,495 | €64,047 | +€29,552 | +85.7% |
| Financial debts | 170/4 | €34,495 | €64,047 | +€29,552 | +85.7% |
| Amounts payable within one year | 42/48 | €1,775,003 | €2,040,610 | +€265,607 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €365,386 | €283,242 | -€82,144 | -22.5% |
| Financial debts | 43 | €79,254 | - | -€79,254 | |
| Credit institutions | 430/8 | €79,254 | - | -€79,254 | |
| Trade debts | 44 | €693,752 | €699,883 | +€6,131 | +0.9% |
| Suppliers | 440/4 | €693,752 | €699,883 | +€6,131 | +0.9% |
| Taxes, remuneration and social security | 45 | €618,762 | €450,141 | -€168,621 | -27.3% |
| Taxes | 450/3 | €312,019 | €263,260 | -€48,759 | -15.6% |
| Remuneration and social security | 454/9 | €306,743 | €186,881 | -€119,862 | -39.1% |
| Other amounts payable | 47/48 | €17,850 | €607,344 | +€589,494 | +3,302% |
| Remuneration, social security and pensions | 62 | €803,955 | €522,835 | -€281,120 | -35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,008 | €2,904 | -€6,104 | -67.8% |
| Other operating charges | 640/8 | €34,494 | €65,908 | +€31,414 | +91.1% |
| Gross operating margin | 9900 | €817,363 | €465,866 | -€351,497 | -43.0% |
| Operating profit (loss) | 9901 | -€30,095 | -€125,782 | -€95,687 | -318% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €74,947 | €72,568 | -€2,379 | -3.2% |
| Recurring financial charges | 65 | €74,947 | €72,568 | -€2,379 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | -€105,041 | -€198,349 | -€93,307 | -88.8% |
| Income taxes | 67/77 | €2,499 | €1,200 | -€1,300 | -52.0% |
| Profit (loss) for the period | 9904 | -€107,541 | -€199,548 | -€92,008 | -85.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€107,541 | -€199,548 | -€92,008 | -85.6% |
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 26 October 2026 via checked.be.