DETERMINED: 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.
DETERMINED
Largest movements
- Cash -€81,703
down €81,703 (-92.9%), from €87,903 to €6,200
mainly Receivables within one year (-€76,259) and Debts after one year (-€33,415)
- Receivables within one year +€76,259
up €76,259 (+23.8%), from €320,841 to €397,101
of which Trade receivables: +€69,170
- Debts after one year -€33,415
down €33,415 (-6.0%), from €555,401 to €521,986
- Other debts +€23,354
up €23,354 (+5.6%), from €413,715 to €437,069
- Advances received -€17,531
down €17,531 (-100.0%), from €17,531 to €0
- Trade debts +€13,272
up €13,272 (+449.8%), from €2,951 to €16,223
- Financial charges +€22,253
up €22,253 (+21.6%), from €103,145 to €125,398
- Gross operating margin +€5,861
up €5,861 (+3.6%), from €162,558 to €168,420
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 | €1,185,594 | €1,183,466 | -€2,128 | -0.2% |
| Fixed assets | 21/28 | €776,850 | €780,165 | +€3,315 | +0.4% |
| Tangible fixed assets | 22/27 | €764,350 | €767,665 | +€3,315 | +0.4% |
| Land and buildings | 22 | €756,219 | €733,091 | -€23,127 | -3.1% |
| Plant, machinery and equipment | 23 | €2,182 | €1,721 | -€461 | -21.1% |
| Furniture and vehicles | 24 | €5,257 | €20,885 | +€15,628 | +297.3% |
| Other tangible fixed assets | 26 | €693 | €11,969 | +€11,276 | +1628.0% |
| Financial fixed assets | 28 | €12,500 | €12,500 | = | 0.0% |
| Current assets | 29/58 | €408,744 | €403,301 | -€5,444 | -1.3% |
| Amounts receivable within one year | 40/41 | €320,841 | €397,101 | +€76,259 | +23.8% |
| Trade receivables | 40 | €306,024 | €375,194 | +€69,170 | +22.6% |
| Other amounts receivable | 41 | €14,817 | €21,906 | +€7,089 | +47.8% |
| Cash at bank and in hand | 54/58 | €87,903 | €6,200 | -€81,703 | -92.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,185,594 | €1,183,466 | -€2,128 | -0.2% |
| Equity | 10/15 | €141,253 | €144,873 | +€3,619 | +2.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €131,340 | €134,960 | +€3,619 | +2.8% |
| Distributable reserves | 133 | €131,340 | €134,960 | +€3,619 | +2.8% |
| Profit (loss) carried forward | 14 | €8,913 | €8,913 | = | 0.0% |
| Amounts payable | 17/49 | €1,044,341 | €1,038,593 | -€5,748 | -0.6% |
| Amounts payable after more than one year | 17 | €555,401 | €521,986 | -€33,415 | -6.0% |
| Financial debts | 170/4 | €555,401 | €521,986 | -€33,415 | -6.0% |
| Amounts payable within one year | 42/48 | €488,940 | €516,607 | +€27,668 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €33,238 | €33,415 | +€177 | +0.5% |
| Trade debts | 44 | €2,951 | €16,223 | +€13,272 | +449.8% |
| Suppliers | 440/4 | €2,951 | €16,223 | +€13,272 | +449.8% |
| Advances received on contracts in progress | 46 | €17,531 | €0 | -€17,531 | -100.0% |
| Taxes, remuneration and social security | 45 | €21,504 | €29,900 | +€8,395 | +39.0% |
| Taxes | 450/3 | €21,504 | €29,900 | +€8,395 | +39.0% |
| Other amounts payable | 47/48 | €413,715 | €437,069 | +€23,354 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,414 | €29,002 | +€1,588 | +5.8% |
| Other operating charges | 640/8 | €3,335 | €2,785 | -€550 | -16.5% |
| Gross operating margin | 9900 | €162,558 | €168,420 | +€5,861 | +3.6% |
| Operating profit (loss) | 9901 | €131,810 | €136,633 | +€4,824 | +3.7% |
| Financial income | 75/76B | €0 | €30 | +€30 | +22900.0% |
| Recurring financial income | 75 | €0 | €30 | +€30 | +22900.0% |
| Financial charges | 65/66B | €103,145 | €125,398 | +€22,253 | +21.6% |
| Recurring financial charges | 65 | €103,145 | €125,398 | +€22,253 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | €28,664 | €11,264 | -€17,400 | -60.7% |
| Income taxes | 67/77 | €7,889 | €7,645 | -€244 | -3.1% |
| Profit (loss) for the period | 9904 | €20,775 | €3,619 | -€17,156 | -82.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,775 | €3,619 | -€17,156 | -82.6% |
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 11 October 2026 via checked.be.