DE WERKTITEL: what changed
DE WERKTITEL
Largest movements
- Intangible fixed assets +€46,710
up €46,710 (+41.5%), from €112,610 to €159,321
- Receivables within one year -€40,815
down €40,815 (-14.9%), from €273,277 to €232,462
of which Other amounts receivable: -€35,440
- Tangible fixed assets -€13,160
down €13,160 (-70.2%), from €18,745 to €5,585
of which Assets under construction and advance payments: -€18,391
- Cash -€7,157
down €7,157 (-2.6%), from €279,548 to €272,391
mainly Investment in fixed assets (net) (-€76,593) and Accrued charges and deferred income (-€53,967)
- Contributions +€109,950
up €109,950 (+94.6%), from €116,251 to €226,201
- Accrued charges and deferred income -€53,967
down €53,967 (-10.7%), from €504,045 to €450,078
- Profit (loss) carried forward -€47,416
down €47,416 (-41.2%), from -€115,180 to -€162,597
- Current portion of long-term debt -€24,493
down €24,493 (-59.2%), from €41,379 to €16,886
- Trade debts +€15,116
up €15,116 (+33.5%), from €45,139 to €60,255
- Gross operating margin -€25,834
down €25,834 (-10.2%), from €254,442 to €228,608
- Depreciation +€7,293
up €7,293 (+20.4%), from €35,750 to €43,043
- Staff costs -€5,163
down €5,163 (-2.2%), from €231,041 to €225,878
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €707,946 | €702,439 | -€5,506 | -0.8% |
| Fixed assets | 21/28 | €136,106 | €169,656 | +€33,550 | +24.7% |
| Intangible fixed assets | 21 | €112,610 | €159,321 | +€46,710 | +41.5% |
| Tangible fixed assets | 22/27 | €18,745 | €5,585 | -€13,160 | -70.2% |
| Furniture and vehicles | 24 | €355 | €5,585 | +€5,231 | +1,475% |
| Assets under construction and advance payments | 27 | €18,391 | €0 | -€18,391 | -100% |
| Financial fixed assets | 28 | €4,750 | €4,750 | = | 0.0% |
| Current assets | 29/58 | €571,840 | €532,784 | -€39,056 | -6.8% |
| Stocks and contracts in progress | 3 | €8,439 | €10,358 | +€1,919 | +22.7% |
| Stocks | 30/36 | €8,439 | €10,358 | +€1,919 | +22.7% |
| Amounts receivable within one year | 40/41 | €273,277 | €232,462 | -€40,815 | -14.9% |
| Trade receivables | 40 | €82,814 | €77,440 | -€5,375 | -6.5% |
| Other amounts receivable | 41 | €190,463 | €155,022 | -€35,440 | -18.6% |
| Cash at bank and in hand | 54/58 | €279,548 | €272,391 | -€7,157 | -2.6% |
| Deferred charges and accrued income | 490/1 | €10,576 | €17,572 | +€6,996 | +66.2% |
| Total equity and liabilities | 10/49 | €707,946 | €702,439 | -€5,506 | -0.8% |
| Equity | 10/15 | €1,071 | €63,604 | +€62,534 | +5,841% |
| Contributions | 10/11 | €116,251 | €226,201 | +€109,950 | +94.6% |
| Profit (loss) carried forward | 14 | -€115,180 | -€162,597 | -€47,416 | -41.2% |
| Amounts payable | 17/49 | €706,875 | €638,835 | -€68,040 | -9.6% |
| Amounts payable after more than one year | 17 | €87,557 | €81,309 | -€6,247 | -7.1% |
| Financial debts | 170/4 | €87,557 | €81,309 | -€6,247 | -7.1% |
| Amounts payable within one year | 42/48 | €115,273 | €107,448 | -€7,825 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €41,379 | €16,886 | -€24,493 | -59.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €45,139 | €60,255 | +€15,116 | +33.5% |
| Suppliers | 440/4 | €45,139 | €60,255 | +€15,116 | +33.5% |
| Taxes, remuneration and social security | 45 | €28,755 | €30,307 | +€1,552 | +5.4% |
| Taxes | 450/3 | €799 | €2,624 | +€1,825 | +228% |
| Remuneration and social security | 454/9 | €27,955 | €27,683 | -€272 | -1.0% |
| Accrued charges and deferred income | 492/3 | €504,045 | €450,078 | -€53,967 | -10.7% |
| Remuneration, social security and pensions | 62 | €231,041 | €225,878 | -€5,163 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,750 | €43,043 | +€7,293 | +20.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,955 | €448 | -€2,507 | -84.8% |
| Other operating charges | 640/8 | €870 | €1,089 | +€219 | +25.2% |
| Gross operating margin | 9900 | €254,442 | €228,608 | -€25,834 | -10.2% |
| Operating profit (loss) | 9901 | -€16,174 | -€41,850 | -€25,676 | -159% |
| Financial income | 75/76B | €27 | €187 | +€160 | +584% |
| Recurring financial income | 75 | €27 | €187 | +€160 | +584% |
| Financial charges | 65/66B | €8,427 | €6,508 | -€1,920 | -22.8% |
| Recurring financial charges | 65 | €8,427 | €6,508 | -€1,920 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | -€24,574 | -€48,170 | -€23,597 | -96.0% |
| Income taxes | 67/77 | -€359 | -€754 | -€395 | -110% |
| Profit (loss) for the period | 9904 | -€24,215 | -€47,416 | -€23,202 | -95.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,215 | -€47,416 | -€23,202 | -95.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.