Car Conversion: what changed
Two fiscal 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.
Car Conversion
Largest movements
- Receivables within one year +€24,954
up €24,954 (+39.3%), from €63,478 to €88,432
of which Trade receivables: +€19,559
- Tangible fixed assets +€16,839
up €16,839 (+687.0%), from €2,451 to €19,290
of which Furniture and vehicles: +€17,031
- Intangible fixed assets -€16,769
down €16,769 (-25.0%), from €67,075 to €50,307
- Cash +€13,262
up €13,262 (+91.7%), from €14,459 to €27,722
mainly Net result for the year (+€58,425) and Depreciation (+€26,430)
- Stocks and contracts -€6,011
down €6,011 (-6.7%), from €90,321 to €84,310
- Advances received +€16,165
new in 2025: €16,165
- Other debts +€8,900
up €8,900 (+19.3%), from €46,100 to €55,000
- Tax, wage and social debts +€5,528
up €5,528 (+151.1%), from €3,658 to €9,187
of which Remuneration and social security: +€4,691
- Reserves +€3,425
up €3,425 (+5.3%), from €65,074 to €68,499
of which Distributable reserves: +€3,425
- Gross operating margin +€51,956
up €51,956 (+33.9%), from €153,348 to €205,304
- Staff costs +€48,457
up €48,457 (+87.7%), from €55,265 to €103,722
- Depreciation +€6,169
up €6,169 (+30.4%), from €20,261 to €26,430
- Taxes -€4,715
down €4,715 (-37.6%), from €12,553 to €7,837
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.
Cash bridge derived
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 | €239,030 | €272,375 | +€33,345 | +14.0% |
| Fixed assets | 21/28 | €69,645 | €69,715 | +€70 | +0.1% |
| Intangible fixed assets | 21 | €67,075 | €50,307 | -€16,769 | -25.0% |
| Tangible fixed assets | 22/27 | €2,451 | €19,290 | +€16,839 | +687.0% |
| Plant, machinery and equipment | 23 | €576 | €384 | -€192 | -33.3% |
| Furniture and vehicles | 24 | €1,875 | €18,906 | +€17,031 | +908.3% |
| Financial fixed assets | 28 | €119 | €119 | = | 0.0% |
| Current assets | 29/58 | €169,385 | €202,659 | +€33,275 | +19.6% |
| Stocks and contracts in progress | 3 | €90,321 | €84,310 | -€6,011 | -6.7% |
| Stocks | 30/36 | €90,321 | €84,310 | -€6,011 | -6.7% |
| Amounts receivable within one year | 40/41 | €63,478 | €88,432 | +€24,954 | +39.3% |
| Trade receivables | 40 | €46,499 | €66,057 | +€19,559 | +42.1% |
| Other amounts receivable | 41 | €16,979 | €22,374 | +€5,395 | +31.8% |
| Cash at bank and in hand | 54/58 | €14,459 | €27,722 | +€13,262 | +91.7% |
| Deferred charges and accrued income | 490/1 | €1,127 | €2,197 | +€1,070 | +94.9% |
| Total equity and liabilities | 10/49 | €239,030 | €272,375 | +€33,345 | +14.0% |
| Equity | 10/15 | €75,074 | €78,499 | +€3,425 | +4.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €65,074 | €68,499 | +€3,425 | +5.3% |
| Tax-exempt reserves | 132 | €207 | €207 | = | 0.0% |
| Distributable reserves | 133 | €64,868 | €68,293 | +€3,425 | +5.3% |
| Amounts payable | 17/49 | €163,955 | €193,875 | +€29,920 | +18.2% |
| Amounts payable within one year | 42/48 | €163,613 | €193,875 | +€30,262 | +18.5% |
| Trade debts | 44 | €113,855 | €113,523 | -€332 | -0.3% |
| Suppliers | 440/4 | €113,855 | €113,523 | -€332 | -0.3% |
| Advances received on contracts in progress | 46 | - | €16,165 | +€16,165 | |
| Taxes, remuneration and social security | 45 | €3,658 | €9,187 | +€5,528 | +151.1% |
| Taxes | 450/3 | - | €837 | +€837 | |
| Remuneration and social security | 454/9 | €3,658 | €8,349 | +€4,691 | +128.2% |
| Other amounts payable | 47/48 | €46,100 | €55,000 | +€8,900 | +19.3% |
| Accrued charges and deferred income | 492/3 | €342 | - | -€342 | |
| Non-recurring operating income | 76A | €2,905 | €1,653 | -€1,252 | -43.1% |
| Remuneration, social security and pensions | 62 | €55,265 | €103,722 | +€48,457 | +87.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,261 | €26,430 | +€6,169 | +30.4% |
| Other operating charges | 640/8 | €6,759 | €7,451 | +€692 | +10.2% |
| Gross operating margin | 9900 | €153,348 | €205,304 | +€51,956 | +33.9% |
| Operating profit (loss) | 9901 | €71,063 | €67,701 | -€3,362 | -4.7% |
| Financial income | 75/76B | €43 | €353 | +€310 | +715.8% |
| Recurring financial income | 75 | €43 | €353 | +€310 | +715.8% |
| Financial charges | 65/66B | €2,270 | €1,791 | -€478 | -21.1% |
| Recurring financial charges | 65 | €2,270 | €1,791 | -€478 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €68,836 | €66,262 | -€2,574 | -3.7% |
| Income taxes | 67/77 | €12,553 | €7,837 | -€4,715 | -37.6% |
| Profit (loss) for the period | 9904 | €56,284 | €58,425 | +€2,141 | +3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €56,284 | €58,425 | +€2,141 | +3.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.