BY & CAR: 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.
BY & CAR
Largest movements
- Stocks and contracts -€45,082
down €45,082 (-13.5%), from €335,134 to €290,052
- Receivables within one year -€18,080
down €18,080 (-32.2%), from €56,223 to €38,143
- Profit (loss) carried forward -€177,250
down €177,250, from €74,286 to -€102,964
- Trade debts +€142,687
up €142,687 (+163%), from €87,304 to €229,991
- Other debts -€84,562
down €84,562 (-51.6%), from €163,744 to €79,182
- Short-term financial debts +€60,000
up €60,000 (+150%), from €40,000 to €100,000
- Tax, wage and social debts -€6,247
down €6,247 (-12.0%), from €52,099 to €45,852
of which Taxes: -€14,049
- Staff costs +€123,179
up €123,179 (+171%), from €72,051 to €195,229
- Gross operating margin -€89,181
down €89,181 (-53.9%), from €165,448 to €76,267
- Taxes -€19,907
down €19,907 (-96.1%), from €20,722 to €814
- Financial charges +€19,279
up €19,279 (+316%), from €6,111 to €25,389
- Other operating charges +€2,747
up €2,747 (+29.3%), from €9,387 to €12,135
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 | €436,033 | €373,573 | -€62,460 | -14.3% |
| Fixed assets | 21/28 | €15,781 | €13,286 | -€2,495 | -15.8% |
| Tangible fixed assets | 22/27 | €15,781 | €13,286 | -€2,495 | -15.8% |
| Plant, machinery and equipment | 23 | €8,974 | €5,155 | -€3,819 | -42.6% |
| Furniture and vehicles | 24 | €6,226 | €4,251 | -€1,975 | -31.7% |
| Other tangible fixed assets | 26 | €581 | €3,880 | +€3,299 | +568% |
| Current assets | 29/58 | €420,252 | €360,287 | -€59,965 | -14.3% |
| Stocks and contracts in progress | 3 | €335,134 | €290,052 | -€45,082 | -13.5% |
| Stocks | 30/36 | €335,134 | €290,052 | -€45,082 | -13.5% |
| Amounts receivable within one year | 40/41 | €56,223 | €38,143 | -€18,080 | -32.2% |
| Trade receivables | 40 | €56,223 | €38,143 | -€18,080 | -32.2% |
| Cash at bank and in hand | 54/58 | €23,379 | €23,626 | +€247 | +1.1% |
| Deferred charges and accrued income | 490/1 | €5,516 | €8,466 | +€2,950 | +53.5% |
| Total equity and liabilities | 10/49 | €436,033 | €373,573 | -€62,460 | -14.3% |
| Equity | 10/15 | €92,886 | -€84,364 | -€177,250 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,286 | -€102,964 | -€177,250 | |
| Amounts payable | 17/49 | €343,147 | €457,937 | +€114,790 | +33.5% |
| Amounts payable within one year | 42/48 | €343,147 | €455,026 | +€111,879 | +32.6% |
| Financial debts | 43 | €40,000 | €100,000 | +€60,000 | +150% |
| Credit institutions | 430/8 | €40,000 | €100,000 | +€60,000 | +150% |
| Trade debts | 44 | €87,304 | €229,991 | +€142,687 | +163% |
| Suppliers | 440/4 | €87,304 | €229,991 | +€142,687 | +163% |
| Taxes, remuneration and social security | 45 | €52,099 | €45,852 | -€6,247 | -12.0% |
| Taxes | 450/3 | €42,931 | €28,882 | -€14,049 | -32.7% |
| Remuneration and social security | 454/9 | €9,168 | €16,971 | +€7,803 | +85.1% |
| Other amounts payable | 47/48 | €163,744 | €79,182 | -€84,562 | -51.6% |
| Accrued charges and deferred income | 492/3 | - | €2,911 | +€2,911 | |
| Remuneration, social security and pensions | 62 | €72,051 | €195,229 | +€123,179 | +171% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,771 | €12,045 | +€1,275 | +11.8% |
| Other operating charges | 640/8 | €9,387 | €12,135 | +€2,747 | +29.3% |
| Non-recurring operating charges | 66A | - | €8,788 | +€8,788 | |
| Gross operating margin | 9900 | €165,448 | €76,267 | -€89,181 | -53.9% |
| Operating profit (loss) | 9901 | €73,239 | -€151,930 | -€225,169 | |
| Financial income | 75/76B | €69 | €883 | +€814 | +1,171% |
| Recurring financial income | 75 | €69 | €883 | +€814 | +1,171% |
| Financial charges | 65/66B | €6,111 | €25,389 | +€19,279 | +316% |
| Recurring financial charges | 65 | €6,111 | €25,389 | +€19,279 | +316% |
| Profit (loss) for the period before taxes | 9903 | €67,198 | -€176,436 | -€243,634 | |
| Income taxes | 67/77 | €20,722 | €814 | -€19,907 | -96.1% |
| Profit (loss) for the period | 9904 | €46,477 | -€177,250 | -€223,727 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,477 | -€177,250 | -€223,727 |
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.