Custom Cut: 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.
Custom Cut
Largest movements
- Tangible fixed assets +€85,381
up €85,381 (+105.5%), from €80,957 to €166,339
of which Leasing and similar rights: +€90,481
- Receivables within one year +€69,434
up €69,434 (+126.9%), from €54,737 to €124,170
of which Trade receivables: +€77,180
- Cash -€62,061
down €62,061 (-64.4%), from €96,400 to €34,339
mainly Investment in fixed assets (net) (-€125,027) and Receivables within one year (-€69,434)
- Stocks and contracts +€7,817
up €7,817 (+177.7%), from €4,400 to €12,217
- Financial fixed assets +€3,923
up €3,923 (+26.8%), from €14,618 to €18,540
- Debts after one year +€67,170
new in 2025: €67,170
- Trade debts +€30,212
up €30,212 (+162.7%), from €18,569 to €48,781
- Advances received -€20,000
no longer reported in 2025 (was €20,000)
- Current portion of long-term debt +€14,408
new in 2025: €14,408
- Other debts +€10,935
up €10,935 (+42.1%), from €26,000 to €36,935
- Staff costs +€48,708
up €48,708 (+34.9%), from €139,764 to €188,472
- Taxes -€18,255
no longer reported in 2025 (was €18,255)
- Depreciation +€17,928
up €17,928 (+97.6%), from €18,372 to €36,299
- Gross operating margin -€14,258
down €14,258 (-5.8%), from €246,127 to €231,869
- Financial income -€3,830
no longer reported in 2025 (was €3,830)
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 | €254,918 | €360,141 | +€105,223 | +41.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €97,041 | €185,769 | +€88,728 | +91.4% |
| Intangible fixed assets | 21 | €1,466 | €890 | -€576 | -39.3% |
| Tangible fixed assets | 22/27 | €80,957 | €166,339 | +€85,381 | +105.5% |
| Land and buildings | 22 | €16,258 | €17,832 | +€1,574 | +9.7% |
| Plant, machinery and equipment | 23 | €57,711 | €47,334 | -€10,377 | -18.0% |
| Furniture and vehicles | 24 | €6,989 | €10,692 | +€3,703 | +53.0% |
| Leasing and similar rights | 25 | - | €90,481 | +€90,481 | |
| Financial fixed assets | 28 | €14,618 | €18,540 | +€3,923 | +26.8% |
| Current assets | 29/58 | €157,877 | €174,372 | +€16,495 | +10.4% |
| Stocks and contracts in progress | 3 | €4,400 | €12,217 | +€7,817 | +177.7% |
| Stocks | 30/36 | €4,400 | €12,217 | +€7,817 | +177.7% |
| Amounts receivable within one year | 40/41 | €54,737 | €124,170 | +€69,434 | +126.9% |
| Trade receivables | 40 | €30,137 | €107,318 | +€77,180 | +256.1% |
| Other amounts receivable | 41 | €24,599 | €16,853 | -€7,747 | -31.5% |
| Cash at bank and in hand | 54/58 | €96,400 | €34,339 | -€62,061 | -64.4% |
| Deferred charges and accrued income | 490/1 | €2,340 | €3,645 | +€1,306 | +55.8% |
| Total equity and liabilities | 10/49 | €254,918 | €360,141 | +€105,223 | +41.3% |
| Equity | 10/15 | €160,763 | €163,010 | +€2,247 | +1.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €123,760 | €123,760 | = | 0.0% |
| Distributable reserves | 133 | €123,760 | €123,760 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,003 | €37,250 | +€2,247 | +6.4% |
| Investment grants | 15 | €0 | €0 | = | |
| Amounts payable | 17/49 | €94,155 | €197,131 | +€102,977 | +109.4% |
| Amounts payable after more than one year | 17 | - | €67,170 | +€67,170 | |
| Financial debts | 170/4 | - | €67,170 | +€67,170 | |
| Amounts payable within one year | 42/48 | €94,155 | €123,939 | +€29,784 | +31.6% |
| Current portion of amounts payable after more than one year | 42 | - | €14,408 | +€14,408 | |
| Trade debts | 44 | €18,569 | €48,781 | +€30,212 | +162.7% |
| Suppliers | 440/4 | €18,569 | €48,781 | +€30,212 | +162.7% |
| Advances received on contracts in progress | 46 | €20,000 | - | -€20,000 | |
| Taxes, remuneration and social security | 45 | €29,585 | €23,814 | -€5,772 | -19.5% |
| Taxes | 450/3 | €3,798 | - | -€3,798 | |
| Remuneration and social security | 454/9 | €25,788 | €23,814 | -€1,974 | -7.7% |
| Other amounts payable | 47/48 | €26,000 | €36,935 | +€10,935 | +42.1% |
| Accrued charges and deferred income | 492/3 | €0 | €6,022 | +€6,022 | |
| Remuneration, social security and pensions | 62 | €139,764 | €188,472 | +€48,708 | +34.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,372 | €36,299 | +€17,928 | +97.6% |
| Other operating charges | 640/8 | €225 | €380 | +€156 | +69.3% |
| Gross operating margin | 9900 | €246,127 | €231,869 | -€14,258 | -5.8% |
| Operating profit (loss) | 9901 | €87,767 | €6,718 | -€81,049 | -92.3% |
| Financial income | 75/76B | €3,830 | - | -€3,830 | |
| Recurring financial income | 75 | €3,830 | - | -€3,830 | |
| Financial charges | 65/66B | €1,144 | €4,471 | +€3,327 | +290.9% |
| Recurring financial charges | 65 | €1,144 | €4,471 | +€3,327 | +290.9% |
| Profit (loss) for the period before taxes | 9903 | €90,452 | €2,247 | -€88,206 | -97.5% |
| Income taxes | 67/77 | €18,255 | - | -€18,255 | |
| Profit (loss) for the period | 9904 | €72,197 | €2,247 | -€69,950 | -96.9% |
| Profit (loss) for the period to be appropriated | 9905 | €72,197 | €2,247 | -€69,950 | -96.9% |
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 10 October 2026 via checked.be.