COLLARD Sébastien: 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.
COLLARD Sébastien
Largest movements
- Receivables within one year +€73,970
up €73,970 (+37.6%), from €196,985 to €270,955
of which Trade receivables: +€125,792
- Stocks and contracts -€24,895
down €24,895 (-59.0%), from €42,206 to €17,311
of which Contracts in progress: -€25,000
- Formation expenses +€22,583
new in 2025: €22,583
- Tangible fixed assets -€21,697
down €21,697 (-39.0%), from €55,623 to €33,926
of which Leasing and similar rights: -€14,452
- Cash -€4,222
down €4,222 (-6.8%), from €61,758 to €57,536
mainly Receivables within one year (-€73,970) and Net result for the year (-€71,689)
- Trade debts +€109,944
up €109,944 (+36.0%), from €305,039 to €414,983
- Profit (loss) carried forward -€71,689
down €71,689 (-522%), from -€13,734 to -€85,423
- Other debts +€15,640
new in 2025: €15,640
- Debts after one year -€15,319
down €15,319 (-51.2%), from €29,921 to €14,602
- Tax, wage and social debts +€5,011
up €5,011 (+57.9%), from €8,651 to €13,662
of which Taxes: +€2,932
- Staff costs +€56,793
up €56,793 (+39.4%), from €144,010 to €200,803
- Gross operating margin +€5,070
up €5,070 (+3.1%), from €162,640 to €167,710
- Financial charges +€4,590
up €4,590 (+52.6%), from €8,729 to €13,319
- Financial income -€3,219
down €3,219 (-100.0%), from €3,220 to €1
- Other operating charges -€2,833
down €2,833 (-58.1%), from €4,874 to €2,041
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 | €358,606 | €403,044 | +€44,438 | +12.4% |
| Formation expenses | 20 | - | €22,583 | +€22,583 | |
| Fixed assets | 21/28 | €55,623 | €33,926 | -€21,697 | -39.0% |
| Tangible fixed assets | 22/27 | €55,623 | €33,926 | -€21,697 | -39.0% |
| Plant, machinery and equipment | 23 | €8,082 | €3,976 | -€4,106 | -50.8% |
| Furniture and vehicles | 24 | €5,356 | €2,216 | -€3,140 | -58.6% |
| Leasing and similar rights | 25 | €42,185 | €27,734 | -€14,452 | -34.3% |
| Current assets | 29/58 | €302,983 | €346,535 | +€43,552 | +14.4% |
| Stocks and contracts in progress | 3 | €42,206 | €17,311 | -€24,895 | -59.0% |
| Stocks | 30/36 | €17,206 | €17,311 | +€105 | +0.6% |
| Contracts in progress | 37 | €25,000 | €0 | -€25,000 | -100% |
| Amounts receivable within one year | 40/41 | €196,985 | €270,955 | +€73,970 | +37.6% |
| Trade receivables | 40 | €132,059 | €257,850 | +€125,792 | +95.3% |
| Other amounts receivable | 41 | €64,926 | €13,105 | -€51,822 | -79.8% |
| Cash at bank and in hand | 54/58 | €61,758 | €57,536 | -€4,222 | -6.8% |
| Deferred charges and accrued income | 490/1 | €2,034 | €734 | -€1,300 | -63.9% |
| Total equity and liabilities | 10/49 | €358,606 | €403,044 | +€44,438 | +12.4% |
| Equity | 10/15 | €526 | -€71,163 | -€71,689 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,734 | -€85,423 | -€71,689 | -522% |
| Amounts payable | 17/49 | €358,080 | €474,206 | +€116,126 | +32.4% |
| Amounts payable after more than one year | 17 | €29,921 | €14,602 | -€15,319 | -51.2% |
| Financial debts | 170/4 | €29,921 | €14,602 | -€15,319 | -51.2% |
| Amounts payable within one year | 42/48 | €328,159 | €459,605 | +€131,446 | +40.1% |
| Current portion of amounts payable after more than one year | 42 | €14,469 | €15,319 | +€851 | +5.9% |
| Trade debts | 44 | €305,039 | €414,983 | +€109,944 | +36.0% |
| Suppliers | 440/4 | €305,039 | €414,983 | +€109,944 | +36.0% |
| Taxes, remuneration and social security | 45 | €8,651 | €13,662 | +€5,011 | +57.9% |
| Taxes | 450/3 | €3,079 | €6,011 | +€2,932 | +95.2% |
| Remuneration and social security | 454/9 | €5,572 | €7,651 | +€2,079 | +37.3% |
| Other amounts payable | 47/48 | - | €15,640 | +€15,640 | |
| Remuneration, social security and pensions | 62 | €144,010 | €200,803 | +€56,793 | +39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,478 | €22,924 | +€446 | +2.0% |
| Other operating charges | 640/8 | €4,874 | €2,041 | -€2,833 | -58.1% |
| Gross operating margin | 9900 | €162,640 | €167,710 | +€5,070 | +3.1% |
| Operating profit (loss) | 9901 | -€8,723 | -€58,058 | -€49,336 | -566% |
| Financial income | 75/76B | €3,220 | €1 | -€3,219 | -100.0% |
| Recurring financial income | 75 | €3,220 | €1 | -€3,219 | -100.0% |
| Financial charges | 65/66B | €8,729 | €13,319 | +€4,590 | +52.6% |
| Recurring financial charges | 65 | €8,729 | €13,319 | +€4,590 | +52.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,232 | -€71,376 | -€57,144 | -402% |
| Income taxes | 67/77 | €226 | €312 | +€86 | +38.3% |
| Profit (loss) for the period | 9904 | -€14,458 | -€71,689 | -€57,231 | -396% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,458 | -€71,689 | -€57,231 | -396% |
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 23 October 2026 via checked.be.