Deels: 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.
Deels
Largest movements
- Receivables after one year +€122,218
up €122,218 (+74.1%), from €165,000 to €287,218
- Tangible fixed assets -€78,586
down €78,586 (-16.5%), from €475,181 to €396,596
of which Furniture and vehicles: -€54,539
- Current investments +€66,771
up €66,771 (+371.0%), from €18,000 to €84,771
- Cash -€66,076
down €66,076 (-60.4%), from €109,312 to €43,236
mainly Receivables after one year (-€122,218) and Current investments (-€66,771)
- Receivables within one year -€15,413
down €15,413 (-12.4%), from €124,016 to €108,602
of which Trade receivables: -€10,276
- Reserves +€138,650
up €138,650 (+37.7%), from €367,377 to €506,027
- Tax, wage and social debts -€47,132
down €47,132 (-49.7%), from €94,770 to €47,638
of which Taxes: -€28,291
- Debts after one year -€44,957
down €44,957 (-14.7%), from €305,125 to €260,168
- Current portion of long-term debt -€29,050
down €29,050 (-39.7%), from €73,171 to €44,121
- Trade debts +€24,792
up €24,792 (+72.5%), from €34,194 to €58,986
- Financial charges +€49,519
up €49,519 (+253.1%), from €19,565 to €69,084
of which Financial charges: +€44,832
- Gross operating margin -€37,507
down €37,507 (-4.2%), from €888,841 to €851,334
- Taxes -€35,566
down €35,566 (-35.5%), from €100,295 to €64,729
- Staff costs +€14,398
up €14,398 (+3.2%), from €446,591 to €460,989
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 | €913,628 | €941,754 | +€28,126 | +3.1% |
| Fixed assets | 21/28 | €475,181 | €396,596 | -€78,586 | -16.5% |
| Tangible fixed assets | 22/27 | €475,181 | €396,596 | -€78,586 | -16.5% |
| Land and buildings | 22 | €259,114 | €236,688 | -€22,426 | -8.7% |
| Plant, machinery and equipment | 23 | €5,065 | €3,444 | -€1,620 | -32.0% |
| Furniture and vehicles | 24 | €211,002 | €156,463 | -€54,539 | -25.8% |
| Current assets | 29/58 | €438,447 | €545,159 | +€106,712 | +24.3% |
| Amounts receivable after more than one year | 29 | €165,000 | €287,218 | +€122,218 | +74.1% |
| Other amounts receivable | 291 | €165,000 | €287,218 | +€122,218 | +74.1% |
| Stocks and contracts in progress | 3 | €12,500 | €12,500 | = | 0.0% |
| Stocks | 30/36 | €12,500 | €12,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €124,016 | €108,602 | -€15,413 | -12.4% |
| Trade receivables | 40 | €105,512 | €95,236 | -€10,276 | -9.7% |
| Other amounts receivable | 41 | €18,503 | €13,366 | -€5,137 | -27.8% |
| Current investments | 50/53 | €18,000 | €84,771 | +€66,771 | +371.0% |
| Cash at bank and in hand | 54/58 | €109,312 | €43,236 | -€66,076 | -60.4% |
| Deferred charges and accrued income | 490/1 | €9,619 | €8,831 | -€788 | -8.2% |
| Total equity and liabilities | 10/49 | €913,628 | €941,754 | +€28,126 | +3.1% |
| Equity | 10/15 | €385,977 | €524,627 | +€138,650 | +35.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €367,377 | €506,027 | +€138,650 | +37.7% |
| Distributable reserves | 133 | €367,377 | €506,027 | +€138,650 | +37.7% |
| Amounts payable | 17/49 | €527,651 | €417,127 | -€110,524 | -20.9% |
| Amounts payable after more than one year | 17 | €305,125 | €260,168 | -€44,957 | -14.7% |
| Financial debts | 170/4 | €305,125 | €260,168 | -€44,957 | -14.7% |
| Amounts payable within one year | 42/48 | €222,526 | €156,959 | -€65,567 | -29.5% |
| Current portion of amounts payable after more than one year | 42 | €73,171 | €44,121 | -€29,050 | -39.7% |
| Trade debts | 44 | €34,194 | €58,986 | +€24,792 | +72.5% |
| Suppliers | 440/4 | €34,194 | €58,986 | +€24,792 | +72.5% |
| Taxes, remuneration and social security | 45 | €94,770 | €47,638 | -€47,132 | -49.7% |
| Taxes | 450/3 | €28,788 | €497 | -€28,291 | -98.3% |
| Remuneration and social security | 454/9 | €65,982 | €47,142 | -€18,841 | -28.6% |
| Other amounts payable | 47/48 | €20,390 | €6,214 | -€14,176 | -69.5% |
| Non-recurring operating income | 76A | - | €2,624 | +€2,624 | |
| Remuneration, social security and pensions | 62 | €446,591 | €460,989 | +€14,398 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,111 | €112,860 | +€7,749 | +7.4% |
| Other operating charges | 640/8 | €3,083 | €5,339 | +€2,256 | +73.2% |
| Gross operating margin | 9900 | €888,841 | €851,334 | -€37,507 | -4.2% |
| Operating profit (loss) | 9901 | €334,056 | €272,146 | -€61,910 | -18.5% |
| Financial income | 75/76B | €1,322 | €317 | -€1,004 | -76.0% |
| Recurring financial income | 75 | €1,322 | €317 | -€1,004 | -76.0% |
| Financial charges | 65/66B | €19,565 | €69,084 | +€49,519 | +253.1% |
| Recurring financial charges | 65 | €19,565 | €64,397 | +€44,832 | +229.1% |
| Non-recurring financial charges | 66B | - | €4,687 | +€4,687 | |
| Profit (loss) for the period before taxes | 9903 | €315,812 | €203,379 | -€112,433 | -35.6% |
| Income taxes | 67/77 | €100,295 | €64,729 | -€35,566 | -35.5% |
| Profit (loss) for the period | 9904 | €215,517 | €138,650 | -€76,867 | -35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €215,517 | €138,650 | -€76,867 | -35.7% |
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.