CONTEXT: 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.
What changed
CONTEXT
NACE 47.716, Retail sale of clothing and accessories for women, men, children and babies (general range)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€54,022
2024 · €29,304+€24,717
Equity
€12.4m
2024 · €12.4m+€54,022
Cash
€56,115
2024 · €1,970+€54,145
Balance sheet total
€23.2m
2024 · €21.3m+€1.9m
Largest movements
Assets
- Tangible fixed assets +€1.9m
up €1.9m (+23.0%), from €8.4m to €10.3m
of which Land and buildings: +€2.1m
- Financial fixed assets -€646,464
down €646,464 (-8.2%), from €7.9m to €7.2m
- Receivables within one year +€318,075
up €318,075 (+8.8%), from €3.6m to €3.9m
of which Other amounts receivable: +€1.8m
Equity and liabilities
- Debts after one year +€1.5m
up €1.5m (+25.3%), from €5.8m to €7.2m
- Reserves +€329,267
up €329,267 (+9.4%), from €3.5m to €3.8m
of which Tax-exempt reserves: +€329,267
- Profit (loss) carried forward -€275,245
down €275,245 (-3.1%), from €8.8m to €8.5m
Income statement
- Financial income +€268,709
up €268,709 (+169%), from €159,099 to €427,808
of which Non-recurring financial income: +€251,792
- Other operating charges +€84,174
up €84,174 (+127%), from €66,364 to €150,538
- Gross operating margin +€70,278
up €70,278 (+12.2%), from €578,072 to €648,350
- Taxes +€37,976
up €37,976 (+47.7%), from €79,533 to €117,508
- Financial charges +€15,447
up €15,447 (+7.0%), from €220,849 to €236,297
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.
Result 2024
€29,304
Gross operating margin
+€70,278
Depreciation
-€6,425
Other operating charges
-€84,174
Financial income
+€268,709
Financial charges
-€15,447
Taxes
-€37,976
Deferred taxes and other
-€170,247
Result 2025
€54,022
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€477,688
Investment
-€1.8m
Financing
+€1.4m
Cash 2024
€1,970
From operations (derived)
+€477,688
Net result for the year
+€54,022
Depreciation
+€408,038
Receivables within one year
-€318,075
Deferred charges and accrued income
-€135,327
Provisions
+€109,756
Trade debts
+€83,872
Tax, wage and social debts
+€32,931
Other debts
+€225,487
Accrued charges and deferred income
+€16,985
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€1.7m
Current investments
-€152,000
Financing
+€1.4m
Debts after one year
+€1.5m
Current portion of long-term debt
-€52,057
Cash 2025
€56,115
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,316,627 | €23,247,622 | +€1.9m | +9.1% |
| Fixed assets | 21/28 | €16,311,788 | €17,583,236 | +€1.3m | +7.8% |
| Intangible fixed assets | 21 | €74,980 | €67,480 | -€7,500 | -10.0% |
| Tangible fixed assets | 22/27 | €8,375,980 | €10,301,393 | +€1.9m | +23.0% |
| Land and buildings | 22 | €5,833,901 | €7,945,610 | +€2.1m | +36.2% |
| Plant, machinery and equipment | 23 | €25,000 | €28,589 | +€3,589 | +14.4% |
| Other tangible fixed assets | 26 | €2,517,079 | €2,327,193 | -€189,886 | -7.5% |
| Financial fixed assets | 28 | €7,860,828 | €7,214,364 | -€646,464 | -8.2% |
| Current assets | 29/58 | €5,004,839 | €5,664,386 | +€659,547 | +13.2% |
| Amounts receivable after more than one year | 29 | €634,500 | €634,500 | = | 0.0% |
| Other amounts receivable | 291 | €634,500 | €634,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,609,900 | €3,927,976 | +€318,075 | +8.8% |
| Trade receivables | 40 | €1,527,936 | €38,131 | -€1.5m | -97.5% |
| Other amounts receivable | 41 | €2,081,964 | €3,889,844 | +€1.8m | +86.8% |
| Current investments | 50/53 | €240,987 | €392,987 | +€152,000 | +63.1% |
| Cash at bank and in hand | 54/58 | €1,970 | €56,115 | +€54,145 | +2,749% |
| Deferred charges and accrued income | 490/1 | €517,482 | €652,809 | +€135,327 | +26.2% |
| Total equity and liabilities | 10/49 | €21,316,627 | €23,247,622 | +€1.9m | +9.1% |
| Equity | 10/15 | €12,363,595 | €12,417,617 | +€54,022 | +0.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €3,494,822 | €3,824,088 | +€329,267 | +9.4% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,481,127 | €3,810,393 | +€329,267 | +9.5% |
| Distributable reserves | 133 | €3,695 | €3,695 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,768,773 | €8,493,529 | -€275,245 | -3.1% |
| Provisions and deferred taxes | 16 | €1,299,036 | €1,408,791 | +€109,756 | +8.4% |
| Provisions for liabilities and charges | 160/5 | €138,660 | €138,660 | = | 0.0% |
| Pensions and similar obligations | 160 | €138,660 | €138,660 | = | 0.0% |
| Deferred taxes | 168 | €1,160,376 | €1,270,131 | +€109,756 | +9.5% |
| Amounts payable | 17/49 | €7,653,996 | €9,421,214 | +€1.8m | +23.1% |
| Amounts payable after more than one year | 17 | €5,766,667 | €7,226,666 | +€1.5m | +25.3% |
| Financial debts | 170/4 | €5,766,667 | €7,226,666 | +€1.5m | +25.3% |
| Amounts payable within one year | 42/48 | €1,620,443 | €1,910,676 | +€290,233 | +17.9% |
| Current portion of amounts payable after more than one year | 42 | €302,057 | €250,000 | -€52,057 | -17.2% |
| Trade debts | 44 | €413,283 | €497,156 | +€83,872 | +20.3% |
| Suppliers | 440/4 | €413,283 | €497,156 | +€83,872 | +20.3% |
| Taxes, remuneration and social security | 45 | €180,616 | €213,547 | +€32,931 | +18.2% |
| Taxes | 450/3 | €180,616 | €213,547 | +€32,931 | +18.2% |
| Other amounts payable | 47/48 | €724,487 | €949,974 | +€225,487 | +31.1% |
| Accrued charges and deferred income | 492/3 | €266,886 | €283,872 | +€16,985 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €401,613 | €408,038 | +€6,425 | +1.6% |
| Other operating charges | 640/8 | €66,364 | €150,538 | +€84,174 | +127% |
| Gross operating margin | 9900 | €578,072 | €648,350 | +€70,278 | +12.2% |
| Operating profit (loss) | 9901 | €110,096 | €89,774 | -€20,322 | -18.5% |
| Financial income | 75/76B | €159,099 | €427,808 | +€268,709 | +169% |
| Recurring financial income | 75 | €159,096 | €176,013 | +€16,917 | +10.6% |
| Non-recurring financial income | 76B | €4 | €251,795 | +€251,792 | +6,917,354% |
| Financial charges | 65/66B | €220,849 | €236,297 | +€15,447 | +7.0% |
| Recurring financial charges | 65 | €220,849 | €236,297 | +€15,447 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €48,345 | €281,286 | +€232,940 | +482% |
| Transfer from deferred taxes | 780 | €60,492 | €61,664 | +€1,172 | +1.9% |
| Transfer to deferred taxes | 680 | - | €171,419 | +€171,419 | |
| Income taxes | 67/77 | €79,533 | €117,508 | +€37,976 | +47.7% |
| Profit (loss) for the period | 9904 | €29,304 | €54,022 | +€24,717 | +84.3% |
| Transfer from tax-exempt reserves | 789 | €181,475 | €184,992 | +€3,517 | +1.9% |
| Transfer to tax-exempt reserves | 689 | - | €514,258 | +€514,258 | |
| Profit (loss) for the period to be appropriated | 9905 | €210,779 | -€275,245 | -€486,024 |
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 27 October 2026 via checked.be.