CONTEXTE BELGIQUE: 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.
CONTEXTE BELGIQUE
Largest movements
- Receivables within one year +€940,122
up €940,122 (+78.8%), from €1.2m to €2.1m
of which Trade receivables: +€926,175
- Tangible fixed assets +€26,543
up €26,543 (+124%), from €21,339 to €47,882
of which Furniture and vehicles: +€25,898
- Deferred charges and accrued income -€24,421
down €24,421 (-78.6%), from €31,080 to €6,659
- Financial fixed assets +€23,802
new in 2025: €23,802
- Other debts +€723,866
up €723,866 (+63.3%), from €1.1m to €1.9m
- Trade debts +€111,062
up €111,062 (+1,897%), from €5,853 to €116,916
- Tax, wage and social debts +€77,180
up €77,180 (+78.1%), from €98,830 to €176,010
of which Remuneration and social security: +€47,228
- Profit (loss) carried forward +€29,951
up €29,951 (+130%), from €22,961 to €52,913
- Gross operating margin +€773,820
up €773,820 (+77.6%), from €996,742 to €1.8m
- Staff costs +€733,285
up €733,285 (+79.2%), from €925,943 to €1.7m
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 | €1,284,442 | €2,234,927 | +€950,485 | +74.0% |
| Fixed assets | 21/28 | €21,339 | €71,684 | +€50,345 | +236% |
| Tangible fixed assets | 22/27 | €21,339 | €47,882 | +€26,543 | +124% |
| Furniture and vehicles | 24 | €10,853 | €36,751 | +€25,898 | +239% |
| Other tangible fixed assets | 26 | €10,486 | €11,131 | +€645 | +6.2% |
| Financial fixed assets | 28 | - | €23,802 | +€23,802 | |
| Current assets | 29/58 | €1,263,103 | €2,163,243 | +€900,139 | +71.3% |
| Amounts receivable within one year | 40/41 | €1,193,076 | €2,133,198 | +€940,122 | +78.8% |
| Trade receivables | 40 | €1,191,231 | €2,117,406 | +€926,175 | +77.7% |
| Other amounts receivable | 41 | €1,845 | €15,792 | +€13,947 | +756% |
| Cash at bank and in hand | 54/58 | €38,947 | €23,385 | -€15,561 | -40.0% |
| Deferred charges and accrued income | 490/1 | €31,080 | €6,659 | -€24,421 | -78.6% |
| Total equity and liabilities | 10/49 | €1,284,442 | €2,234,927 | +€950,485 | +74.0% |
| Equity | 10/15 | €27,961 | €57,913 | +€29,951 | +107% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,961 | €52,913 | +€29,951 | +130% |
| Amounts payable | 17/49 | €1,256,481 | €2,177,014 | +€920,533 | +73.3% |
| Amounts payable within one year | 42/48 | €1,248,391 | €2,160,499 | +€912,109 | +73.1% |
| Trade debts | 44 | €5,853 | €116,916 | +€111,062 | +1,897% |
| Suppliers | 440/4 | €5,853 | €116,916 | +€111,062 | +1,897% |
| Taxes, remuneration and social security | 45 | €98,830 | €176,010 | +€77,180 | +78.1% |
| Taxes | 450/3 | €12,809 | €42,761 | +€29,952 | +234% |
| Remuneration and social security | 454/9 | €86,020 | €133,248 | +€47,228 | +54.9% |
| Other amounts payable | 47/48 | €1,143,708 | €1,867,574 | +€723,866 | +63.3% |
| Accrued charges and deferred income | 492/3 | €8,090 | €16,515 | +€8,425 | +104% |
| Remuneration, social security and pensions | 62 | €925,943 | €1,659,228 | +€733,285 | +79.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,860 | €8,914 | +€5,055 | +131% |
| Other operating charges | 640/8 | €5,283 | €1,429 | -€3,854 | -72.9% |
| Gross operating margin | 9900 | €996,742 | €1,770,563 | +€773,820 | +77.6% |
| Operating profit (loss) | 9901 | €61,657 | €100,992 | +€39,335 | +63.8% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €44,985 | €41,091 | -€3,894 | -8.7% |
| Recurring financial charges | 65 | €44,985 | €41,091 | -€3,894 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €16,672 | €59,903 | +€43,231 | +259% |
| Income taxes | 67/77 | €12,809 | €29,952 | +€17,143 | +134% |
| Profit (loss) for the period | 9904 | €3,863 | €29,951 | +€26,088 | +675% |
| Profit (loss) for the period to be appropriated | 9905 | €3,863 | €29,951 | +€26,088 | +675% |
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.