cheers: 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.
cheers
Largest movements
- Tangible fixed assets +€23,313
up €23,313 (+3.9%), from €602,350 to €625,663
of which Land and buildings: +€48,319
- Receivables within one year -€20,049
down €20,049 (-82.1%), from €24,414 to €4,365
- Profit (loss) carried forward +€14,947
up €14,947 (+63.7%), from -€23,455 to -€8,508
- Staff costs +€18,966
up €18,966 (+43.8%), from €43,321 to €62,287
- Gross operating margin +€12,516
up €12,516 (+10.7%), from €116,649 to €129,165
- Depreciation +€2,233
up €2,233 (+4.9%), from €45,823 to €48,056
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 | €734,825 | €752,144 | +€17,319 | +2.4% |
| Fixed assets | 21/28 | €603,590 | €626,903 | +€23,313 | +3.9% |
| Tangible fixed assets | 22/27 | €602,350 | €625,663 | +€23,313 | +3.9% |
| Land and buildings | 22 | €366,902 | €415,221 | +€48,319 | +13.2% |
| Plant, machinery and equipment | 23 | €204,683 | €181,961 | -€22,722 | -11.1% |
| Furniture and vehicles | 24 | €30,765 | €28,481 | -€2,285 | -7.4% |
| Financial fixed assets | 28 | €1,240 | €1,240 | = | 0.0% |
| Current assets | 29/58 | €131,235 | €125,241 | -€5,994 | -4.6% |
| Stocks and contracts in progress | 3 | €22,859 | €28,109 | +€5,250 | +23.0% |
| Stocks | 30/36 | €22,859 | €28,109 | +€5,250 | +23.0% |
| Amounts receivable within one year | 40/41 | €24,414 | €4,365 | -€20,049 | -82.1% |
| Trade receivables | 40 | €24,414 | €4,365 | -€20,049 | -82.1% |
| Cash at bank and in hand | 54/58 | €83,962 | €91,461 | +€7,499 | +8.9% |
| Deferred charges and accrued income | 490/1 | - | €1,306 | +€1,306 | |
| Total equity and liabilities | 10/49 | €734,825 | €752,144 | +€17,319 | +2.4% |
| Equity | 10/15 | -€4,855 | €10,092 | +€14,947 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,455 | -€8,508 | +€14,947 | +63.7% |
| Amounts payable | 17/49 | €739,680 | €742,052 | +€2,372 | +0.3% |
| Amounts payable after more than one year | 17 | €686,000 | €686,000 | = | 0.0% |
| Financial debts | 170/4 | €686,000 | €686,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €53,680 | €56,052 | +€2,372 | +4.4% |
| Trade debts | 44 | €16,651 | €15,334 | -€1,317 | -7.9% |
| Suppliers | 440/4 | €16,651 | €15,334 | -€1,317 | -7.9% |
| Taxes, remuneration and social security | 45 | €5,678 | €6,298 | +€619 | +10.9% |
| Taxes | 450/3 | €942 | €2,358 | +€1,415 | +150.2% |
| Remuneration and social security | 454/9 | €4,736 | €3,940 | -€796 | -16.8% |
| Other amounts payable | 47/48 | €31,351 | €34,421 | +€3,069 | +9.8% |
| Remuneration, social security and pensions | 62 | €43,321 | €62,287 | +€18,966 | +43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,823 | €48,056 | +€2,233 | +4.9% |
| Other operating charges | 640/8 | €2,018 | €3,252 | +€1,234 | +61.1% |
| Gross operating margin | 9900 | €116,649 | €129,165 | +€12,516 | +10.7% |
| Operating profit (loss) | 9901 | €25,488 | €15,571 | -€9,917 | -38.9% |
| Financial income | 75/76B | €1 | €12 | +€11 | +1177.4% |
| Recurring financial income | 75 | €1 | €12 | +€11 | +1177.4% |
| Financial charges | 65/66B | €427 | €483 | +€56 | +13.1% |
| Recurring financial charges | 65 | €427 | €483 | +€56 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €25,061 | €15,100 | -€9,961 | -39.7% |
| Income taxes | 67/77 | €148 | €153 | +€5 | +3.1% |
| Profit (loss) for the period | 9904 | €24,913 | €14,947 | -€9,966 | -40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,913 | €14,947 | -€9,966 | -40.0% |
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 7 October 2026 via checked.be.