BY CONCEPT: 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 CONCEPT
Largest movements
- Receivables within one year -€84,769
down €84,769 (-66.6%), from €127,263 to €42,494
of which Trade receivables: -€74,031
- Tangible fixed assets -€38,700
down €38,700 (-20.1%), from €192,930 to €154,230
of which Furniture and vehicles: -€19,638
- Cash -€28,134
down €28,134 (-39.8%), from €70,636 to €42,502
mainly Trade debts (-€79,315) and Debts after one year (-€31,583)
- Deferred charges and accrued income +€4,052
up €4,052 (+344%), from €1,178 to €5,230
- Trade debts -€79,315
down €79,315 (-68.2%), from €116,311 to €36,997
- Debts after one year -€31,583
down €31,583 (-32.7%), from €96,583 to €65,000
- Tax, wage and social debts -€26,766
down €26,766 (-56.0%), from €47,777 to €21,011
of which Taxes: -€24,653
- Reserves -€11,500
down €11,500 (-13.1%), from €88,000 to €76,500
- Depreciation +€31,589
up €31,589 (+108%), from €29,220 to €60,809
- Gross operating margin +€18,107
up €18,107 (+9.3%), from €195,258 to €213,365
- Write-downs -€15,365
down €15,365, from €4,096 to -€11,269
- Staff costs +€8,063
up €8,063 (+7.2%), from €111,263 to €119,327
- Other operating charges +€5,980
up €5,980 (+37.2%), from €16,061 to €22,040
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 | €399,021 | €251,471 | -€147,550 | -37.0% |
| Fixed assets | 21/28 | €192,930 | €154,230 | -€38,700 | -20.1% |
| Tangible fixed assets | 22/27 | €192,930 | €154,230 | -€38,700 | -20.1% |
| Plant, machinery and equipment | 23 | €126,427 | €107,365 | -€19,062 | -15.1% |
| Furniture and vehicles | 24 | €66,503 | €46,865 | -€19,638 | -29.5% |
| Current assets | 29/58 | €206,092 | €97,241 | -€108,851 | -52.8% |
| Stocks and contracts in progress | 3 | €7,015 | €7,015 | = | 0.0% |
| Stocks | 30/36 | €7,015 | €7,015 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €127,263 | €42,494 | -€84,769 | -66.6% |
| Trade receivables | 40 | €97,728 | €23,697 | -€74,031 | -75.8% |
| Other amounts receivable | 41 | €29,535 | €18,797 | -€10,738 | -36.4% |
| Cash at bank and in hand | 54/58 | €70,636 | €42,502 | -€28,134 | -39.8% |
| Deferred charges and accrued income | 490/1 | €1,178 | €5,230 | +€4,052 | +344% |
| Total equity and liabilities | 10/49 | €399,021 | €251,471 | -€147,550 | -37.0% |
| Equity | 10/15 | €108,000 | €96,500 | -€11,500 | -10.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €88,000 | €76,500 | -€11,500 | -13.1% |
| Distributable reserves | 133 | €88,000 | €76,500 | -€11,500 | -13.1% |
| Amounts payable | 17/49 | €291,021 | €154,971 | -€136,050 | -46.7% |
| Amounts payable after more than one year | 17 | €96,583 | €65,000 | -€31,583 | -32.7% |
| Financial debts | 170/4 | €96,583 | €65,000 | -€31,583 | -32.7% |
| Amounts payable within one year | 42/48 | €194,438 | €89,971 | -€104,468 | -53.7% |
| Current portion of amounts payable after more than one year | 42 | €30,310 | €31,583 | +€1,273 | +4.2% |
| Trade debts | 44 | €116,311 | €36,997 | -€79,315 | -68.2% |
| Suppliers | 440/4 | €116,311 | €36,997 | -€79,315 | -68.2% |
| Taxes, remuneration and social security | 45 | €47,777 | €21,011 | -€26,766 | -56.0% |
| Taxes | 450/3 | €44,875 | €20,222 | -€24,653 | -54.9% |
| Remuneration and social security | 454/9 | €2,902 | €789 | -€2,112 | -72.8% |
| Other amounts payable | 47/48 | €40 | €380 | +€340 | +851% |
| Non-recurring operating income | 76A | €9,833 | - | -€9,833 | |
| Remuneration, social security and pensions | 62 | €111,263 | €119,327 | +€8,063 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,220 | €60,809 | +€31,589 | +108% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,096 | -€11,269 | -€15,365 | |
| Other operating charges | 640/8 | €16,061 | €22,040 | +€5,980 | +37.2% |
| Gross operating margin | 9900 | €195,258 | €213,365 | +€18,107 | +9.3% |
| Operating profit (loss) | 9901 | €34,618 | €22,458 | -€12,160 | -35.1% |
| Financial income | 75/76B | €1,355 | €3,333 | +€1,977 | +146% |
| Recurring financial income | 75 | €1,355 | €3,333 | +€1,977 | +146% |
| Financial charges | 65/66B | €5,601 | €6,242 | +€641 | +11.4% |
| Recurring financial charges | 65 | €5,601 | €6,242 | +€641 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €30,372 | €19,548 | -€10,824 | -35.6% |
| Income taxes | 67/77 | €7,246 | €4,372 | -€2,874 | -39.7% |
| Profit (loss) for the period | 9904 | €23,126 | €15,176 | -€7,950 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,126 | €15,176 | -€7,950 | -34.4% |
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 16 October 2026 via checked.be.