CAR SELECTION: 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 SELECTION
Largest movements
- Stocks and contracts -€78,395
down €78,395 (-9.9%), from €792,525 to €714,131
- Tangible fixed assets +€27,222
up €27,222 (+17.9%), from €151,797 to €179,020
of which Furniture and vehicles: +€30,558
- Cash -€17,253
down €17,253 (-3.5%), from €496,097 to €478,843
mainly Other debts (-€54,952) and Investment in fixed assets (net) (-€46,000)
- Other debts -€54,952
down €54,952 (-12.6%), from €437,861 to €382,908
- Reserves +€22,319
up €22,319 (+2.3%), from €977,782 to €1.0m
- Advances received -€21,000
down €21,000 (-79.2%), from €26,500 to €5,500
- Gross operating margin -€164,721
down €164,721 (-49.5%), from €332,722 to €168,002
- Taxes -€51,400
down €51,400 (-85.6%), from €60,038 to €8,638
- Depreciation +€9,921
up €9,921 (+112.0%), from €8,857 to €18,778
- Financial charges -€9,109
down €9,109 (-23.5%), from €38,775 to €29,666
- Write-downs +€6,750
up €6,750 (+59.2%), from -€11,400 to -€4,650
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 | €1,576,423 | €1,511,690 | -€64,733 | -4.1% |
| Fixed assets | 21/28 | €151,797 | €179,020 | +€27,222 | +17.9% |
| Tangible fixed assets | 22/27 | €151,797 | €179,020 | +€27,222 | +17.9% |
| Land and buildings | 22 | €119,284 | €119,284 | = | 0.0% |
| Plant, machinery and equipment | 23 | €15,974 | €12,639 | -€3,335 | -20.9% |
| Furniture and vehicles | 24 | €16,539 | €47,097 | +€30,558 | +184.8% |
| Current assets | 29/58 | €1,424,626 | €1,332,670 | -€91,956 | -6.5% |
| Stocks and contracts in progress | 3 | €792,525 | €714,131 | -€78,395 | -9.9% |
| Stocks | 30/36 | €792,525 | €714,131 | -€78,395 | -9.9% |
| Amounts receivable within one year | 40/41 | €26,523 | €27,106 | +€583 | +2.2% |
| Trade receivables | 40 | €11,950 | €781 | -€11,169 | -93.5% |
| Other amounts receivable | 41 | €14,573 | €26,326 | +€11,753 | +80.6% |
| Current investments | 50/53 | €100,287 | €101,428 | +€1,140 | +1.1% |
| Cash at bank and in hand | 54/58 | €496,097 | €478,843 | -€17,253 | -3.5% |
| Deferred charges and accrued income | 490/1 | €9,193 | €11,162 | +€1,969 | +21.4% |
| Total equity and liabilities | 10/49 | €1,576,423 | €1,511,690 | -€64,733 | -4.1% |
| Equity | 10/15 | €997,282 | €1,019,601 | +€22,319 | +2.2% |
| Contributions | 10/11 | €19,500 | €19,500 | = | 0.0% |
| Reserves | 13 | €977,782 | €1,000,101 | +€22,319 | +2.3% |
| Distributable reserves | 133 | €977,782 | €1,000,101 | +€22,319 | +2.3% |
| Amounts payable | 17/49 | €579,142 | €492,089 | -€87,053 | -15.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €542,358 | €463,987 | -€78,371 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €18,667 | €13,581 | -€5,086 | -27.2% |
| Suppliers | 440/4 | €18,667 | €13,581 | -€5,086 | -27.2% |
| Advances received on contracts in progress | 46 | €26,500 | €5,500 | -€21,000 | -79.2% |
| Taxes, remuneration and social security | 45 | €54,331 | €56,998 | +€2,667 | +4.9% |
| Taxes | 450/3 | €48,467 | €50,001 | +€1,534 | +3.2% |
| Remuneration and social security | 454/9 | €5,864 | €6,997 | +€1,133 | +19.3% |
| Other amounts payable | 47/48 | €437,861 | €382,908 | -€54,952 | -12.6% |
| Accrued charges and deferred income | 492/3 | €36,783 | €28,102 | -€8,681 | -23.6% |
| Remuneration, social security and pensions | 62 | €81,213 | €85,220 | +€4,007 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,857 | €18,778 | +€9,921 | +112.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€11,400 | -€4,650 | +€6,750 | +59.2% |
| Other operating charges | 640/8 | €13,928 | €12,157 | -€1,771 | -12.7% |
| Gross operating margin | 9900 | €332,722 | €168,002 | -€164,721 | -49.5% |
| Operating profit (loss) | 9901 | €240,125 | €56,497 | -€183,628 | -76.5% |
| Financial income | 75/76B | €781 | €4,126 | +€3,345 | +428.4% |
| Recurring financial income | 75 | €781 | €4,126 | +€3,345 | +428.4% |
| Financial charges | 65/66B | €38,775 | €29,666 | -€9,109 | -23.5% |
| Recurring financial charges | 65 | €38,775 | €29,666 | -€9,109 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €202,131 | €30,957 | -€171,174 | -84.7% |
| Income taxes | 67/77 | €60,038 | €8,638 | -€51,400 | -85.6% |
| Profit (loss) for the period | 9904 | €142,093 | €22,319 | -€119,774 | -84.3% |
| Profit (loss) for the period to be appropriated | 9905 | €142,093 | €22,319 | -€119,774 | -84.3% |
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 3 October 2026 via checked.be.