CONTRACTING: 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.
CONTRACTING
Largest movements
- Tangible fixed assets -€23,864
down €23,864 (-7.4%), from €323,226 to €299,362
of which Land and buildings: -€33,914
- Receivables after one year +€17,213
up €17,213 (+2390.7%), from €720 to €17,933
- Intangible fixed assets +€16,208
up €16,208 (+2.9%), from €557,543 to €573,751
- Profit (loss) carried forward -€649,483
down €649,483 (-196.4%), from -€330,617 to -€980,101
- Debts after one year +€599,825
up €599,825 (+90.7%), from €661,606 to €1.3m
- Trade debts +€40,628
up €40,628 (+79.8%), from €50,923 to €91,551
- Other debts +€16,929
new in 2025: €16,929
- Advances received +€14,000
up €14,000, from €0 to €14,000
- Financial charges +€625,496
up €625,496 (+1249.1%), from €50,076 to €675,573
of which Non-recurring financial charges: +€629,420
- Gross operating margin +€25,529
up €25,529 (+31.0%), from €82,354 to €107,883
- Other operating charges +€8,693
up €8,693 (+147.2%), from €5,906 to €14,599
- Depreciation +€7,307
up €7,307 (+11.8%), from €61,944 to €69,251
- Financial income -€7,154
down €7,154 (-77.7%), from €9,209 to €2,055
of which Non-recurring financial income: -€6,872
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 | €1,129,715 | €1,151,241 | +€21,525 | +1.9% |
| Fixed assets | 21/28 | €881,299 | €873,643 | -€7,656 | -0.9% |
| Intangible fixed assets | 21 | €557,543 | €573,751 | +€16,208 | +2.9% |
| Tangible fixed assets | 22/27 | €323,226 | €299,362 | -€23,864 | -7.4% |
| Land and buildings | 22 | €273,573 | €239,659 | -€33,914 | -12.4% |
| Plant, machinery and equipment | 23 | €46,985 | €57,328 | +€10,343 | +22.0% |
| Furniture and vehicles | 24 | €2,668 | €2,376 | -€292 | -10.9% |
| Financial fixed assets | 28 | €530 | €530 | = | 0.0% |
| Current assets | 29/58 | €248,417 | €277,598 | +€29,181 | +11.7% |
| Amounts receivable after more than one year | 29 | €720 | €17,933 | +€17,213 | +2390.7% |
| Other amounts receivable | 291 | €720 | €17,933 | +€17,213 | +2390.7% |
| Amounts receivable within one year | 40/41 | €236,858 | €247,686 | +€10,828 | +4.6% |
| Trade receivables | 40 | €182,882 | €221,846 | +€38,964 | +21.3% |
| Other amounts receivable | 41 | €53,976 | €25,839 | -€28,136 | -52.1% |
| Cash at bank and in hand | 54/58 | €9,256 | €10,343 | +€1,088 | +11.8% |
| Deferred charges and accrued income | 490/1 | €1,583 | €1,636 | +€52 | +3.3% |
| Total equity and liabilities | 10/49 | €1,129,715 | €1,151,241 | +€21,525 | +1.9% |
| Equity | 10/15 | €293,531 | -€355,952 | -€649,483 | |
| Contributions | 10/11 | €550,400 | €550,400 | = | 0.0% |
| Capital | 10 | €550,400 | €550,400 | = | 0.0% |
| Issued capital | 100 | €550,400 | €550,400 | = | 0.0% |
| Revaluation surpluses | 12 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €11,775 | €11,775 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,775 | €11,775 | = | 0.0% |
| Legal reserve | 130 | €11,775 | €11,775 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€330,617 | -€980,101 | -€649,483 | -196.4% |
| Amounts payable | 17/49 | €836,184 | €1,507,193 | +€671,009 | +80.2% |
| Amounts payable after more than one year | 17 | €661,606 | €1,261,431 | +€599,825 | +90.7% |
| Financial debts | 170/4 | €661,606 | €1,261,431 | +€599,825 | +90.7% |
| Amounts payable within one year | 42/48 | €73,405 | €133,208 | +€59,803 | +81.5% |
| Financial debts | 43 | €7,306 | €0 | -€7,306 | -100.0% |
| Credit institutions | 430/8 | €7,306 | €0 | -€7,306 | -100.0% |
| Trade debts | 44 | €50,923 | €91,551 | +€40,628 | +79.8% |
| Suppliers | 440/4 | €50,923 | €91,551 | +€40,628 | +79.8% |
| Advances received on contracts in progress | 46 | €0 | €14,000 | +€14,000 | |
| Taxes, remuneration and social security | 45 | €15,176 | €10,727 | -€4,448 | -29.3% |
| Taxes | 450/3 | €15,176 | €10,727 | -€4,448 | -29.3% |
| Other amounts payable | 47/48 | - | €16,929 | +€16,929 | |
| Accrued charges and deferred income | 492/3 | €101,173 | €112,554 | +€11,381 | +11.2% |
| Non-recurring operating income | 76A | €0 | €11,570 | +€11,570 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,944 | €69,251 | +€7,307 | +11.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,906 | €14,599 | +€8,693 | +147.2% |
| Gross operating margin | 9900 | €82,354 | €107,883 | +€25,529 | +31.0% |
| Operating profit (loss) | 9901 | €14,505 | €24,034 | +€9,529 | +65.7% |
| Financial income | 75/76B | €9,209 | €2,055 | -€7,154 | -77.7% |
| Recurring financial income | 75 | €2,337 | €2,055 | -€282 | -12.1% |
| Non-recurring financial income | 76B | €6,872 | €0 | -€6,872 | -100.0% |
| Financial charges | 65/66B | €50,076 | €675,573 | +€625,496 | +1249.1% |
| Recurring financial charges | 65 | €50,076 | €46,153 | -€3,924 | -7.8% |
| Non-recurring financial charges | 66B | - | €629,420 | +€629,420 | |
| Profit (loss) for the period before taxes | 9903 | -€26,362 | -€649,483 | -€623,121 | -2363.7% |
| Profit (loss) for the period | 9904 | -€26,362 | -€649,483 | -€623,121 | -2363.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,362 | -€649,483 | -€623,121 | -2363.7% |
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.