Component +: 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.
Component +
Largest movements
- Tangible fixed assets +€54,243
up €54,243 (+82.0%), from €66,126 to €120,368
of which Leasing and similar rights: +€34,491
- Cash +€14,860
up €14,860 (+89.6%), from €16,586 to €31,446
mainly Trade debts (+€36,661) and Depreciation (+€31,238)
- Receivables within one year +€12,865
up €12,865 (+57.2%), from €22,487 to €35,352
of which Other amounts receivable: +€9,652
- Intangible fixed assets -€7,600
down €7,600 (-22.2%), from €34,169 to €26,569
- Stocks and contracts -€3,865
down €3,865 (-19.4%), from €19,880 to €16,015
of which Contracts in progress: -€4,395
- Trade debts +€36,661
up €36,661 (+404.7%), from €9,058 to €45,719
- Debts after one year +€17,055
up €17,055 (+28.8%), from €59,151 to €76,206
- Profit (loss) carried forward +€13,124
up €13,124 (+28.1%), from €46,744 to €59,868
- Current portion of long-term debt +€10,327
up €10,327 (+76.0%), from €13,581 to €23,907
- Other debts -€8,205
down €8,205 (-30.2%), from €27,159 to €18,954
- Depreciation +€15,978
up €15,978 (+104.7%), from €15,261 to €31,238
- Taxes -€4,005
down €4,005 (-53.1%), from €7,538 to €3,533
- Other operating charges +€3,453
up €3,453 (+267.6%), from €1,290 to €4,744
- Gross operating margin +€2,205
up €2,205 (+4.0%), from €54,988 to €57,193
- Financial charges +€1,519
up €1,519 (+49.8%), from €3,049 to €4,569
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 | €164,161 | €234,394 | +€70,232 | +42.8% |
| Fixed assets | 21/28 | €100,295 | €147,777 | +€47,483 | +47.3% |
| Intangible fixed assets | 21 | €34,169 | €26,569 | -€7,600 | -22.2% |
| Tangible fixed assets | 22/27 | €66,126 | €120,368 | +€54,243 | +82.0% |
| Land and buildings | 22 | - | €1,637 | +€1,637 | |
| Plant, machinery and equipment | 23 | €22,335 | €38,561 | +€16,226 | +72.6% |
| Furniture and vehicles | 24 | €8,205 | €10,094 | +€1,889 | +23.0% |
| Leasing and similar rights | 25 | €35,585 | €70,076 | +€34,491 | +96.9% |
| Financial fixed assets | 28 | - | €840 | +€840 | |
| Current assets | 29/58 | €63,867 | €86,616 | +€22,750 | +35.6% |
| Stocks and contracts in progress | 3 | €19,880 | €16,015 | -€3,865 | -19.4% |
| Stocks | 30/36 | €4,344 | €4,875 | +€531 | +12.2% |
| Contracts in progress | 37 | €15,535 | €11,140 | -€4,395 | -28.3% |
| Amounts receivable within one year | 40/41 | €22,487 | €35,352 | +€12,865 | +57.2% |
| Trade receivables | 40 | €15,783 | €18,996 | +€3,213 | +20.4% |
| Other amounts receivable | 41 | €6,704 | €16,356 | +€9,652 | +144.0% |
| Cash at bank and in hand | 54/58 | €16,586 | €31,446 | +€14,860 | +89.6% |
| Deferred charges and accrued income | 490/1 | €4,914 | €3,803 | -€1,111 | -22.6% |
| Total equity and liabilities | 10/49 | €164,161 | €234,394 | +€70,232 | +42.8% |
| Equity | 10/15 | €51,744 | €64,868 | +€13,124 | +25.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,744 | €59,868 | +€13,124 | +28.1% |
| Amounts payable | 17/49 | €112,417 | €169,525 | +€57,108 | +50.8% |
| Amounts payable after more than one year | 17 | €59,151 | €76,206 | +€17,055 | +28.8% |
| Financial debts | 170/4 | €59,151 | €76,206 | +€17,055 | +28.8% |
| Amounts payable within one year | 42/48 | €53,267 | €93,320 | +€40,053 | +75.2% |
| Current portion of amounts payable after more than one year | 42 | €13,581 | €23,907 | +€10,327 | +76.0% |
| Trade debts | 44 | €9,058 | €45,719 | +€36,661 | +404.7% |
| Suppliers | 440/4 | €9,058 | €45,719 | +€36,661 | +404.7% |
| Taxes, remuneration and social security | 45 | €3,469 | €4,739 | +€1,270 | +36.6% |
| Taxes | 450/3 | €1,269 | €2,539 | +€1,270 | +100.1% |
| Remuneration and social security | 454/9 | €2,200 | €2,200 | = | 0.0% |
| Other amounts payable | 47/48 | €27,159 | €18,954 | -€8,205 | -30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,261 | €31,238 | +€15,978 | +104.7% |
| Other operating charges | 640/8 | €1,290 | €4,744 | +€3,453 | +267.6% |
| Gross operating margin | 9900 | €54,988 | €57,193 | +€2,205 | +4.0% |
| Operating profit (loss) | 9901 | €38,437 | €21,211 | -€17,226 | -44.8% |
| Financial income | 75/76B | €12 | €15 | +€3 | +23.6% |
| Recurring financial income | 75 | €12 | €15 | +€3 | +23.6% |
| Financial charges | 65/66B | €3,049 | €4,569 | +€1,519 | +49.8% |
| Recurring financial charges | 65 | €3,049 | €4,569 | +€1,519 | +49.8% |
| Profit (loss) for the period before taxes | 9903 | €35,399 | €16,657 | -€18,743 | -52.9% |
| Income taxes | 67/77 | €7,538 | €3,533 | -€4,005 | -53.1% |
| Profit (loss) for the period | 9904 | €27,862 | €13,124 | -€14,738 | -52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,862 | €13,124 | -€14,738 | -52.9% |
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 8 October 2026 via checked.be.