CONCEPT10: 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.
CONCEPT10
Largest movements
- Receivables within one year -€209,745
down €209,745 (-62.3%), from €336,530 to €126,785
of which Trade receivables: -€208,439
- Cash +€54,582
up €54,582 (+57.0%), from €95,759 to €150,342
mainly Receivables within one year (+€209,745) and Debts after one year (+€200,000)
- Deferred charges and accrued income -€30,326
down €30,326 (-69.5%), from €43,650 to €13,324
- Tangible fixed assets -€18,146
down €18,146 (-20.1%), from €90,274 to €72,128
of which Plant, machinery and equipment: -€14,268
- Stocks and contracts +€8,844
up €8,844 (+23.7%), from €37,248 to €46,092
- Other debts -€250,905
no longer reported in 2025 (was €250,905)
- Trade debts -€203,160
down €203,160 (-69.9%), from €290,561 to €87,401
- Debts after one year +€200,000
new in 2025: €200,000
- Reserves +€45,750
up €45,750 (+117.1%), from €39,071 to €84,821
- Tax, wage and social debts +€18,123
up €18,123 (+211.9%), from €8,554 to €26,676
- Gross operating margin +€45,163
up €45,163 (+81.2%), from €55,598 to €100,762
- Taxes +€7,977
up €7,977 (+249.3%), from €3,200 to €11,177
- Financial charges +€5,606
up €5,606 (+47.4%), from €11,825 to €17,431
- Other operating charges -€1,172
down €1,172 (-85.6%), from €1,369 to €197
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 | €603,691 | €408,899 | -€194,792 | -32.3% |
| Fixed assets | 21/28 | €90,503 | €72,356 | -€18,146 | -20.1% |
| Tangible fixed assets | 22/27 | €90,274 | €72,128 | -€18,146 | -20.1% |
| Plant, machinery and equipment | 23 | €74,553 | €60,285 | -€14,268 | -19.1% |
| Furniture and vehicles | 24 | €15,721 | €11,843 | -€3,878 | -24.7% |
| Financial fixed assets | 28 | €229 | €229 | = | 0.0% |
| Current assets | 29/58 | €513,188 | €336,542 | -€176,646 | -34.4% |
| Stocks and contracts in progress | 3 | €37,248 | €46,092 | +€8,844 | +23.7% |
| Stocks | 30/36 | €37,248 | €46,092 | +€8,844 | +23.7% |
| Amounts receivable within one year | 40/41 | €336,530 | €126,785 | -€209,745 | -62.3% |
| Trade receivables | 40 | €313,404 | €104,965 | -€208,439 | -66.5% |
| Other amounts receivable | 41 | €23,126 | €21,820 | -€1,306 | -5.6% |
| Cash at bank and in hand | 54/58 | €95,759 | €150,342 | +€54,582 | +57.0% |
| Deferred charges and accrued income | 490/1 | €43,650 | €13,324 | -€30,326 | -69.5% |
| Total equity and liabilities | 10/49 | €603,691 | €408,899 | -€194,792 | -32.3% |
| Equity | 10/15 | €49,071 | €94,821 | +€45,750 | +93.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €39,071 | €84,821 | +€45,750 | +117.1% |
| Distributable reserves | 133 | €39,071 | €84,821 | +€45,750 | +117.1% |
| Amounts payable | 17/49 | €554,620 | €314,078 | -€240,542 | -43.4% |
| Amounts payable after more than one year | 17 | - | €200,000 | +€200,000 | |
| Financial debts | 170/4 | - | €200,000 | +€200,000 | |
| Amounts payable within one year | 42/48 | €550,020 | €114,078 | -€435,942 | -79.3% |
| Trade debts | 44 | €290,561 | €87,401 | -€203,160 | -69.9% |
| Suppliers | 440/4 | €290,561 | €87,401 | -€203,160 | -69.9% |
| Taxes, remuneration and social security | 45 | €8,554 | €26,676 | +€18,123 | +211.9% |
| Taxes | 450/3 | €8,554 | €26,676 | +€18,123 | +211.9% |
| Other amounts payable | 47/48 | €250,905 | - | -€250,905 | |
| Accrued charges and deferred income | 492/3 | €4,600 | - | -€4,600 | |
| Non-recurring operating income | 76A | - | €1,172 | +€1,172 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,711 | €26,448 | -€263 | -1.0% |
| Other operating charges | 640/8 | €1,369 | €197 | -€1,172 | -85.6% |
| Non-recurring operating charges | 66A | - | €89 | +€89 | |
| Gross operating margin | 9900 | €55,598 | €100,762 | +€45,163 | +81.2% |
| Operating profit (loss) | 9901 | €27,519 | €74,028 | +€46,509 | +169.0% |
| Financial income | 75/76B | €446 | €330 | -€116 | -26.1% |
| Recurring financial income | 75 | €446 | €330 | -€116 | -26.1% |
| Financial charges | 65/66B | €11,825 | €17,431 | +€5,606 | +47.4% |
| Recurring financial charges | 65 | €11,825 | €17,431 | +€5,606 | +47.4% |
| Profit (loss) for the period before taxes | 9903 | €16,140 | €56,927 | +€40,787 | +252.7% |
| Income taxes | 67/77 | €3,200 | €11,177 | +€7,977 | +249.3% |
| Profit (loss) for the period | 9904 | €12,940 | €45,750 | +€32,810 | +253.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,940 | €45,750 | +€32,810 | +253.6% |
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 10 October 2026 via checked.be.