DEPARTMENT: 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.
DEPARTMENT
Largest movements
- Stocks and contracts +€161,028
up €161,028 (+28.3%), from €568,846 to €729,874
- Receivables within one year -€77,049
down €77,049 (-94.0%), from €81,947 to €4,898
- Cash -€25,640
down €25,640 (-27.8%), from €92,306 to €66,665
mainly Stocks and contracts (-€161,028) and Investment in fixed assets (net) (-€18,592)
- Financial fixed assets +€18,592
up €18,592 (+2,021%), from €920 to €19,512
- Other debts +€67,093
up €67,093 (+11.0%), from €610,459 to €677,552
- Profit (loss) carried forward +€14,682
up €14,682 (+8.6%), from -€170,347 to -€155,664
- Debts after one year -€11,027
down €11,027 (-3.8%), from €289,341 to €278,314
- Gross operating margin +€49,626
up €49,626, from -€22,134 to €27,491
- Financial charges +€14,232
up €14,232 (+4,334%), from €328 to €14,561
of which Financial charges: +€14,297
- Other operating charges +€1,991
up €1,991 (+222%), from €896 to €2,886
- Financial income +€458
up €458 (+10.9%), from €4,197 to €4,655
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 | €847,173 | €922,299 | +€75,125 | +8.9% |
| Fixed assets | 21/28 | €42,720 | €61,312 | +€18,592 | +43.5% |
| Tangible fixed assets | 22/27 | €41,800 | €41,800 | = | 0.0% |
| Land and buildings | 22 | €41,800 | €41,800 | = | 0.0% |
| Financial fixed assets | 28 | €920 | €19,512 | +€18,592 | +2,021% |
| Current assets | 29/58 | €804,454 | €860,987 | +€56,533 | +7.0% |
| Amounts receivable after more than one year | 29 | €61,356 | €59,550 | -€1,806 | -2.9% |
| Other amounts receivable | 291 | €61,356 | €59,550 | -€1,806 | -2.9% |
| Stocks and contracts in progress | 3 | €568,846 | €729,874 | +€161,028 | +28.3% |
| Stocks | 30/36 | €568,846 | €729,874 | +€161,028 | +28.3% |
| Amounts receivable within one year | 40/41 | €81,947 | €4,898 | -€77,049 | -94.0% |
| Other amounts receivable | 41 | €81,947 | €4,898 | -€77,049 | -94.0% |
| Cash at bank and in hand | 54/58 | €92,306 | €66,665 | -€25,640 | -27.8% |
| Total equity and liabilities | 10/49 | €847,173 | €922,299 | +€75,125 | +8.9% |
| Equity | 10/15 | -€64,172 | -€49,490 | +€14,682 | +22.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €44,175 | €44,175 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,975 | €2,975 | = | 0.0% |
| Distributable reserves | 133 | €41,200 | €41,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€170,347 | -€155,664 | +€14,682 | +8.6% |
| Amounts payable | 17/49 | €911,346 | €971,789 | +€60,443 | +6.6% |
| Amounts payable after more than one year | 17 | €289,341 | €278,314 | -€11,027 | -3.8% |
| Financial debts | 170/4 | €289,341 | €278,314 | -€11,027 | -3.8% |
| Amounts payable within one year | 42/48 | €621,728 | €691,446 | +€69,718 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €10,659 | €11,027 | +€368 | +3.5% |
| Trade debts | 44 | €609 | €2,867 | +€2,257 | +370% |
| Suppliers | 440/4 | €609 | €2,867 | +€2,257 | +370% |
| Other amounts payable | 47/48 | €610,459 | €677,552 | +€67,093 | +11.0% |
| Accrued charges and deferred income | 492/3 | €277 | €2,029 | +€1,752 | +632% |
| Other operating charges | 640/8 | €896 | €2,886 | +€1,991 | +222% |
| Gross operating margin | 9900 | -€22,134 | €27,491 | +€49,626 | |
| Operating profit (loss) | 9901 | -€23,030 | €24,605 | +€47,635 | |
| Financial income | 75/76B | €4,197 | €4,655 | +€458 | +10.9% |
| Recurring financial income | 75 | €4,197 | €4,655 | +€458 | +10.9% |
| Financial charges | 65/66B | €328 | €14,561 | +€14,232 | +4,334% |
| Recurring financial charges | 65 | €24 | €14,320 | +€14,297 | +60,812% |
| Non-recurring financial charges | 66B | €305 | €240 | -€64 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | -€19,162 | €14,699 | +€33,861 | |
| Income taxes | 67/77 | - | €17 | +€17 | |
| Profit (loss) for the period | 9904 | -€19,162 | €14,682 | +€33,844 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,162 | €14,682 | +€33,844 |
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 15 October 2026 via checked.be.