CONTRAPUNT: 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.
CONTRAPUNT
Largest movements
- Cash +€143,280
up €143,280 (+96.2%), from €148,914 to €292,194
mainly Receivables within one year (+€125,227) and Trade debts (+€28,542)
- Receivables within one year -€125,227
down €125,227 (-31.2%), from €401,852 to €276,625
of which Trade receivables: -€132,536
- Tangible fixed assets -€16,871
down €16,871 (-20.0%), from €84,157 to €67,286
of which Plant, machinery and equipment: -€22,509
- Deferred charges and accrued income +€11,766
up €11,766 (+117.1%), from €10,049 to €21,815
- Trade debts +€28,542
up €28,542 (+15.3%), from €186,713 to €215,256
- Profit (loss) carried forward -€15,258
down €15,258 (-3.4%), from €451,211 to €435,952
- Gross operating margin -€70,539
down €70,539 (-21.9%), from €321,462 to €250,923
- Write-downs -€45,538
down €45,538, from €22,769 to -€22,769
- Other operating charges +€22,215
up €22,215 (+945.5%), from €2,350 to €24,565
- Taxes -€7,693
down €7,693 (-100.0%), from €7,693 to €0
- Depreciation -€5,996
down €5,996 (-19.2%), from €31,251 to €25,255
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 | €822,939 | €834,348 | +€11,409 | +1.4% |
| Fixed assets | 21/28 | €86,238 | €68,983 | -€17,255 | -20.0% |
| Intangible fixed assets | 21 | €634 | €250 | -€384 | -60.5% |
| Tangible fixed assets | 22/27 | €84,157 | €67,286 | -€16,871 | -20.0% |
| Plant, machinery and equipment | 23 | €62,636 | €40,128 | -€22,509 | -35.9% |
| Furniture and vehicles | 24 | €1,950 | €9,067 | +€7,117 | +364.9% |
| Other tangible fixed assets | 26 | €19,570 | €18,091 | -€1,479 | -7.6% |
| Financial fixed assets | 28 | €1,447 | €1,447 | = | 0.0% |
| Current assets | 29/58 | €736,701 | €765,365 | +€28,664 | +3.9% |
| Stocks and contracts in progress | 3 | €25,887 | €24,731 | -€1,155 | -4.5% |
| Stocks | 30/36 | €25,887 | €24,731 | -€1,155 | -4.5% |
| Amounts receivable within one year | 40/41 | €401,852 | €276,625 | -€125,227 | -31.2% |
| Trade receivables | 40 | €392,044 | €259,508 | -€132,536 | -33.8% |
| Other amounts receivable | 41 | €9,808 | €17,117 | +€7,309 | +74.5% |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €148,914 | €292,194 | +€143,280 | +96.2% |
| Deferred charges and accrued income | 490/1 | €10,049 | €21,815 | +€11,766 | +117.1% |
| Total equity and liabilities | 10/49 | €822,939 | €834,348 | +€11,409 | +1.4% |
| Equity | 10/15 | €471,662 | €456,404 | -€15,258 | -3.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €451,211 | €435,952 | -€15,258 | -3.4% |
| Amounts payable | 17/49 | €351,277 | €377,944 | +€26,667 | +7.6% |
| Amounts payable within one year | 42/48 | €351,206 | €377,944 | +€26,738 | +7.6% |
| Financial debts | 43 | €6,011 | €115 | -€5,896 | -98.1% |
| Credit institutions | 430/8 | €6,011 | €115 | -€5,896 | -98.1% |
| Trade debts | 44 | €186,713 | €215,256 | +€28,542 | +15.3% |
| Suppliers | 440/4 | €186,713 | €215,256 | +€28,542 | +15.3% |
| Taxes, remuneration and social security | 45 | €69,526 | €68,089 | -€1,437 | -2.1% |
| Taxes | 450/3 | €41,277 | €31,936 | -€9,341 | -22.6% |
| Remuneration and social security | 454/9 | €28,249 | €36,153 | +€7,904 | +28.0% |
| Other amounts payable | 47/48 | €88,955 | €94,485 | +€5,530 | +6.2% |
| Accrued charges and deferred income | 492/3 | €71 | €0 | -€71 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €242,775 | €241,029 | -€1,746 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,251 | €25,255 | -€5,996 | -19.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,769 | -€22,769 | -€45,538 | |
| Other operating charges | 640/8 | €2,350 | €24,565 | +€22,215 | +945.5% |
| Gross operating margin | 9900 | €321,462 | €250,923 | -€70,539 | -21.9% |
| Operating profit (loss) | 9901 | €22,318 | -€17,156 | -€39,474 | |
| Financial income | 75/76B | €2,005 | €3,365 | +€1,361 | +67.9% |
| Recurring financial income | 75 | €2,005 | €3,365 | +€1,361 | +67.9% |
| Financial charges | 65/66B | €1,416 | €1,468 | +€51 | +3.6% |
| Recurring financial charges | 65 | €1,416 | €1,468 | +€51 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €22,906 | -€15,258 | -€38,165 | |
| Income taxes | 67/77 | €7,693 | €0 | -€7,693 | -100.0% |
| Profit (loss) for the period | 9904 | €15,213 | -€15,258 | -€30,472 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,213 | -€15,258 | -€30,472 |
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 2 October 2026 via checked.be.