CORE RETAIL: 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.
CORE RETAIL
Largest movements
- Receivables within one year +€45,089
up €45,089 (+44.2%), from €102,008 to €147,097
of which Trade receivables: +€46,251
- Stocks and contracts +€11,772
up €11,772 (+94.3%), from €12,479 to €24,252
- Cash -€9,326
down €9,326 (-3.8%), from €243,899 to €234,573
mainly Receivables within one year (-€45,089) and Stocks and contracts (-€11,772)
- Profit (loss) carried forward +€54,086
up €54,086 (+29.6%), from €182,995 to €237,081
- Trade debts -€4,729
down €4,729 (-3.5%), from €133,234 to €128,505
- Gross operating margin +€22,465
up €22,465 (+44.6%), from €50,380 to €72,845
- Taxes +€5,193
up €5,193 (+40.5%), from €12,836 to €18,029
- Financial charges +€4,231
up €4,231 (+130%), from €3,247 to €7,477
- Financial income +€3,252
up €3,252 (+362%), from €899 to €4,151
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 | €358,386 | €405,921 | +€47,535 | +13.3% |
| Current assets | 29/58 | €358,386 | €405,921 | +€47,535 | +13.3% |
| Stocks and contracts in progress | 3 | €12,479 | €24,252 | +€11,772 | +94.3% |
| Stocks | 30/36 | €12,479 | €24,252 | +€11,772 | +94.3% |
| Amounts receivable within one year | 40/41 | €102,008 | €147,097 | +€45,089 | +44.2% |
| Trade receivables | 40 | €61,638 | €107,889 | +€46,251 | +75.0% |
| Other amounts receivable | 41 | €40,370 | €39,208 | -€1,162 | -2.9% |
| Cash at bank and in hand | 54/58 | €243,899 | €234,573 | -€9,326 | -3.8% |
| Total equity and liabilities | 10/49 | €358,386 | €405,921 | +€47,535 | +13.3% |
| Equity | 10/15 | €195,659 | €249,745 | +€54,086 | +27.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €264 | €264 | = | 0.0% |
| Distributable reserves | 133 | €264 | €264 | = | 0.0% |
| Profit (loss) carried forward | 14 | €182,995 | €237,081 | +€54,086 | +29.6% |
| Amounts payable | 17/49 | €162,727 | €156,176 | -€6,551 | -4.0% |
| Amounts payable within one year | 42/48 | €162,727 | €156,176 | -€6,551 | -4.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €133,234 | €128,505 | -€4,729 | -3.5% |
| Suppliers | 440/4 | €133,234 | €128,505 | -€4,729 | -3.5% |
| Taxes, remuneration and social security | 45 | €29,493 | €27,672 | -€1,822 | -6.2% |
| Taxes | 450/3 | €29,493 | €27,672 | -€1,822 | -6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,925 | -€3,483 | +€442 | +11.3% |
| Other operating charges | 640/8 | €613 | €886 | +€274 | +44.6% |
| Gross operating margin | 9900 | €50,380 | €72,845 | +€22,465 | +44.6% |
| Operating profit (loss) | 9901 | €53,691 | €75,441 | +€21,750 | +40.5% |
| Financial income | 75/76B | €899 | €4,151 | +€3,252 | +362% |
| Recurring financial income | 75 | €899 | €4,151 | +€3,252 | +362% |
| Financial charges | 65/66B | €3,247 | €7,477 | +€4,231 | +130% |
| Recurring financial charges | 65 | €3,247 | €7,477 | +€4,231 | +130% |
| Profit (loss) for the period before taxes | 9903 | €51,343 | €72,115 | +€20,772 | +40.5% |
| Income taxes | 67/77 | €12,836 | €18,029 | +€5,193 | +40.5% |
| Profit (loss) for the period | 9904 | €38,508 | €54,086 | +€15,579 | +40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,508 | €54,086 | +€15,579 | +40.5% |
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 13 October 2026 via checked.be.