COMMUNICATION LINE: 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.
COMMUNICATION LINE
Largest movements
- Cash +€139,276
up €139,276 (+83.9%), from €165,968 to €305,244
mainly Trade debts (+€101,210) and Other debts (+€83,013)
- Tangible fixed assets -€41,189
down €41,189 (-7.3%), from €562,042 to €520,853
- Receivables within one year +€28,789
up €28,789 (+28.5%), from €100,903 to €129,692
- Trade debts +€101,210
up €101,210 (+159.3%), from €63,522 to €164,732
- Other debts +€83,013
up €83,013 (+190.3%), from €43,630 to €126,643
- Debts after one year -€38,683
down €38,683 (-12.3%), from €315,218 to €276,535
of which Financial debts: -€41,683
- Reserves -€14,850
down €14,850 (-5.0%), from €298,600 to €283,750
- Current portion of long-term debt -€12,228
down €12,228 (-22.7%), from €53,911 to €41,683
- Gross operating margin -€80,099
down €80,099 (-38.3%), from €208,890 to €128,791
- Provisions -€30,416
no longer reported in 2025 (was €30,416)
- Other operating charges -€10,469
down €10,469 (-62.4%), from €16,786 to €6,317
- Taxes -€10,040
down €10,040 (-30.8%), from €32,566 to €22,526
- Financial income +€8,083
up €8,083 (+64.9%), from €12,449 to €20,532
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 | €920,313 | €1,040,674 | +€120,361 | +13.1% |
| Fixed assets | 21/28 | €567,636 | €526,447 | -€41,189 | -7.3% |
| Tangible fixed assets | 22/27 | €562,042 | €520,853 | -€41,189 | -7.3% |
| Land and buildings | 22 | €319,400 | €310,153 | -€9,247 | -2.9% |
| Plant, machinery and equipment | 23 | €203,621 | €184,728 | -€18,893 | -9.3% |
| Furniture and vehicles | 24 | €39,021 | €25,972 | -€13,049 | -33.4% |
| Financial fixed assets | 28 | €5,594 | €5,594 | = | 0.0% |
| Current assets | 29/58 | €352,677 | €514,227 | +€161,550 | +45.8% |
| Stocks and contracts in progress | 3 | €85,797 | €78,495 | -€7,302 | -8.5% |
| Stocks | 30/36 | €85,797 | €78,495 | -€7,302 | -8.5% |
| Amounts receivable within one year | 40/41 | €100,903 | €129,692 | +€28,789 | +28.5% |
| Trade receivables | 40 | €100,903 | €129,692 | +€28,789 | +28.5% |
| Cash at bank and in hand | 54/58 | €165,968 | €305,244 | +€139,276 | +83.9% |
| Deferred charges and accrued income | 490/1 | €9 | €796 | +€787 | +8744.4% |
| Total equity and liabilities | 10/49 | €920,313 | €1,040,674 | +€120,361 | +13.1% |
| Equity | 10/15 | €299,377 | €284,574 | -€14,803 | -4.9% |
| Contributions | 10/11 | €750 | €750 | = | 0.0% |
| Reserves | 13 | €298,600 | €283,750 | -€14,850 | -5.0% |
| Distributable reserves | 133 | €298,600 | €283,750 | -€14,850 | -5.0% |
| Profit (loss) carried forward | 14 | €27 | €74 | +€47 | +174.1% |
| Provisions and deferred taxes | 16 | €90,667 | €90,667 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €90,667 | €90,667 | = | 0.0% |
| Environmental obligations | 163 | €90,667 | €90,667 | = | 0.0% |
| Amounts payable | 17/49 | €530,269 | €665,433 | +€135,164 | +25.5% |
| Amounts payable after more than one year | 17 | €315,218 | €276,535 | -€38,683 | -12.3% |
| Financial debts | 170/4 | €315,218 | €273,535 | -€41,683 | -13.2% |
| Other amounts payable | 178/9 | - | €3,000 | +€3,000 | |
| Amounts payable within one year | 42/48 | €206,297 | €380,724 | +€174,427 | +84.6% |
| Current portion of amounts payable after more than one year | 42 | €53,911 | €41,683 | -€12,228 | -22.7% |
| Trade debts | 44 | €63,522 | €164,732 | +€101,210 | +159.3% |
| Suppliers | 440/4 | €63,522 | €164,732 | +€101,210 | +159.3% |
| Taxes, remuneration and social security | 45 | €45,234 | €47,666 | +€2,432 | +5.4% |
| Taxes | 450/3 | €43,978 | €41,666 | -€2,312 | -5.3% |
| Remuneration and social security | 454/9 | €1,256 | €6,000 | +€4,744 | +377.7% |
| Other amounts payable | 47/48 | €43,630 | €126,643 | +€83,013 | +190.3% |
| Accrued charges and deferred income | 492/3 | €8,754 | €8,174 | -€580 | -6.6% |
| Remuneration, social security and pensions | 62 | €4,229 | €356 | -€3,873 | -91.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,991 | €55,434 | +€2,443 | +4.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €579 | -€334 | -€913 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €30,416 | - | -€30,416 | |
| Other operating charges | 640/8 | €16,786 | €6,317 | -€10,469 | -62.4% |
| Non-recurring operating charges | 66A | - | €3,766 | +€3,766 | |
| Gross operating margin | 9900 | €208,890 | €128,791 | -€80,099 | -38.3% |
| Operating profit (loss) | 9901 | €103,889 | €63,252 | -€40,637 | -39.1% |
| Financial income | 75/76B | €12,449 | €20,532 | +€8,083 | +64.9% |
| Recurring financial income | 75 | €12,449 | €20,532 | +€8,083 | +64.9% |
| Financial charges | 65/66B | €10,895 | €10,811 | -€84 | -0.8% |
| Recurring financial charges | 65 | €10,895 | €10,811 | -€84 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €105,443 | €72,973 | -€32,470 | -30.8% |
| Income taxes | 67/77 | €32,566 | €22,526 | -€10,040 | -30.8% |
| Profit (loss) for the period | 9904 | €72,877 | €50,447 | -€22,430 | -30.8% |
| Profit (loss) for the period to be appropriated | 9905 | €72,877 | €50,447 | -€22,430 | -30.8% |
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 11 October 2026 via checked.be.