DEAL CONSTRUCT: 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.
DEAL CONSTRUCT
Largest movements
- Cash +€36,606
up €36,606 (+113.6%), from €32,224 to €68,831
mainly Tax, wage and social debts (+€41,414) and Depreciation (+€32,679)
- Tangible fixed assets -€16,679
down €16,679 (-15.4%), from €108,376 to €91,698
of which Furniture and vehicles: -€22,185
- Deferred charges and accrued income +€15,640
up €15,640 (+781.1%), from €2,002 to €17,642
- Receivables within one year -€5,133
down €5,133 (-2.6%), from €200,084 to €194,951
of which Trade receivables: -€6,220
- Tax, wage and social debts +€41,414
up €41,414 (+102.8%), from €40,292 to €81,706
of which Taxes: +€29,468
- Debts after one year -€21,193
down €21,193 (-29.8%), from €71,087 to €49,893
- Profit (loss) carried forward +€10,766
up €10,766 (+20.8%), from €51,867 to €62,633
- Current portion of long-term debt +€5,243
up €5,243 (+19.3%), from €27,151 to €32,394
- Accrued charges and deferred income -€3,962
no longer reported in 2025 (was €3,962)
- Staff costs +€51,938
up €51,938 (+12.8%), from €404,236 to €456,174
- Gross operating margin +€50,808
up €50,808 (+11.0%), from €463,435 to €514,243
- Depreciation +€6,597
up €6,597 (+25.3%), from €26,082 to €32,679
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 | €342,687 | €373,121 | +€30,434 | +8.9% |
| Fixed assets | 21/28 | €108,376 | €91,698 | -€16,679 | -15.4% |
| Tangible fixed assets | 22/27 | €108,376 | €91,698 | -€16,679 | -15.4% |
| Land and buildings | 22 | €1,000 | €1,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €38,310 | €43,817 | +€5,506 | +14.4% |
| Furniture and vehicles | 24 | €69,066 | €46,881 | -€22,185 | -32.1% |
| Current assets | 29/58 | €234,311 | €281,423 | +€47,112 | +20.1% |
| Amounts receivable within one year | 40/41 | €200,084 | €194,951 | -€5,133 | -2.6% |
| Trade receivables | 40 | €167,453 | €161,233 | -€6,220 | -3.7% |
| Other amounts receivable | 41 | €32,632 | €33,718 | +€1,086 | +3.3% |
| Cash at bank and in hand | 54/58 | €32,224 | €68,831 | +€36,606 | +113.6% |
| Deferred charges and accrued income | 490/1 | €2,002 | €17,642 | +€15,640 | +781.1% |
| Total equity and liabilities | 10/49 | €342,687 | €373,121 | +€30,434 | +8.9% |
| Equity | 10/15 | €116,795 | €127,561 | +€10,766 | +9.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,929 | €2,929 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,929 | €2,929 | = | 0.0% |
| Legal reserve | 130 | €2,929 | €2,929 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,867 | €62,633 | +€10,766 | +20.8% |
| Amounts payable | 17/49 | €225,892 | €245,560 | +€19,668 | +8.7% |
| Amounts payable after more than one year | 17 | €71,087 | €49,893 | -€21,193 | -29.8% |
| Financial debts | 170/4 | €71,087 | €49,893 | -€21,193 | -29.8% |
| Amounts payable within one year | 42/48 | €150,844 | €195,667 | +€44,823 | +29.7% |
| Current portion of amounts payable after more than one year | 42 | €27,151 | €32,394 | +€5,243 | +19.3% |
| Trade debts | 44 | €83,401 | €81,566 | -€1,834 | -2.2% |
| Suppliers | 440/4 | €83,401 | €81,566 | -€1,834 | -2.2% |
| Taxes, remuneration and social security | 45 | €40,292 | €81,706 | +€41,414 | +102.8% |
| Taxes | 450/3 | €30,599 | €60,067 | +€29,468 | +96.3% |
| Remuneration and social security | 454/9 | €9,692 | €21,638 | +€11,946 | +123.3% |
| Accrued charges and deferred income | 492/3 | €3,962 | - | -€3,962 | |
| Remuneration, social security and pensions | 62 | €404,236 | €456,174 | +€51,938 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,082 | €32,679 | +€6,597 | +25.3% |
| Other operating charges | 640/8 | €4,501 | €3,662 | -€839 | -18.6% |
| Gross operating margin | 9900 | €463,435 | €514,243 | +€50,808 | +11.0% |
| Operating profit (loss) | 9901 | €28,617 | €21,729 | -€6,888 | -24.1% |
| Financial income | 75/76B | €56 | €7 | -€49 | -88.2% |
| Recurring financial income | 75 | €56 | €7 | -€49 | -88.2% |
| Financial charges | 65/66B | €9,037 | €6,110 | -€2,927 | -32.4% |
| Recurring financial charges | 65 | €9,037 | €6,110 | -€2,927 | -32.4% |
| Profit (loss) for the period before taxes | 9903 | €19,636 | €15,626 | -€4,010 | -20.4% |
| Income taxes | 67/77 | €9,494 | €4,860 | -€4,634 | -48.8% |
| Profit (loss) for the period | 9904 | €10,142 | €10,766 | +€624 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €10,142 | €10,766 | +€624 | +6.2% |
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.