DO - LI: what changed
Two fiscal 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.
DO - LI
Largest movements
- Receivables within one year -€16,487
down €16,487 (-56.9%), from €28,987 to €12,500
- Tangible fixed assets -€8,391
down €8,391 (-15.9%), from €52,680 to €44,289
of which Plant, machinery and equipment: -€5,972
- Cash -€5,270
down €5,270 (-8.3%), from €63,496 to €58,227
mainly Accrued charges and deferred income (-€42,327) and Investment in fixed assets (net) (-€9,350)
- Stocks and contracts +€3,955
up €3,955 (+35.4%), from €11,164 to €15,119
- Deferred charges and accrued income +€2,937
up €2,937 (+104.8%), from €2,801 to €5,737
- Accrued charges and deferred income -€42,327
no longer reported in 2025 (was €42,327)
- Reserves +€14,148
up €14,148 (+21.2%), from €66,836 to €80,984
- Tax, wage and social debts +€5,450
up €5,450 (+33.4%), from €16,303 to €21,753
of which Taxes: +€6,425
- Other debts -€4,569
no longer reported in 2025 (was €4,569)
- Trade debts +€4,043
up €4,043 (+88.8%), from €4,551 to €8,594
- Depreciation +€3,193
up €3,193 (+21.9%), from €14,548 to €17,741
- Staff costs -€2,883
down €2,883 (-7.4%), from €38,770 to €35,887
- Financial charges -€1,740
down €1,740 (-34.2%), from €5,081 to €3,341
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 | €159,128 | €135,872 | -€23,256 | -14.6% |
| Fixed assets | 21/28 | €52,680 | €44,289 | -€8,391 | -15.9% |
| Tangible fixed assets | 22/27 | €52,680 | €44,289 | -€8,391 | -15.9% |
| Plant, machinery and equipment | 23 | €18,518 | €12,546 | -€5,972 | -32.2% |
| Furniture and vehicles | 24 | €8,280 | €7,057 | -€1,223 | -14.8% |
| Other tangible fixed assets | 26 | €25,882 | €24,686 | -€1,196 | -4.6% |
| Current assets | 29/58 | €106,448 | €91,583 | -€14,865 | -14.0% |
| Stocks and contracts in progress | 3 | €11,164 | €15,119 | +€3,955 | +35.4% |
| Stocks | 30/36 | €11,164 | €15,119 | +€3,955 | +35.4% |
| Amounts receivable within one year | 40/41 | €28,987 | €12,500 | -€16,487 | -56.9% |
| Other amounts receivable | 41 | €28,987 | €12,500 | -€16,487 | -56.9% |
| Cash at bank and in hand | 54/58 | €63,496 | €58,227 | -€5,270 | -8.3% |
| Deferred charges and accrued income | 490/1 | €2,801 | €5,737 | +€2,937 | +104.8% |
| Total equity and liabilities | 10/49 | €159,128 | €135,872 | -€23,256 | -14.6% |
| Equity | 10/15 | €91,377 | €105,525 | +€14,148 | +15.5% |
| Contributions | 10/11 | €24,541 | €24,541 | = | 0.0% |
| Reserves | 13 | €66,836 | €80,984 | +€14,148 | +21.2% |
| Distributable reserves | 133 | €66,836 | €80,984 | +€14,148 | +21.2% |
| Amounts payable | 17/49 | €67,751 | €30,347 | -€37,404 | -55.2% |
| Amounts payable within one year | 42/48 | €25,423 | €30,347 | +€4,924 | +19.4% |
| Trade debts | 44 | €4,551 | €8,594 | +€4,043 | +88.8% |
| Suppliers | 440/4 | €4,551 | €8,594 | +€4,043 | +88.8% |
| Taxes, remuneration and social security | 45 | €16,303 | €21,753 | +€5,450 | +33.4% |
| Taxes | 450/3 | €8,414 | €14,839 | +€6,425 | +76.4% |
| Remuneration and social security | 454/9 | €7,889 | €6,914 | -€975 | -12.4% |
| Other amounts payable | 47/48 | €4,569 | - | -€4,569 | |
| Accrued charges and deferred income | 492/3 | €42,327 | - | -€42,327 | |
| Remuneration, social security and pensions | 62 | €38,770 | €35,887 | -€2,883 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,548 | €17,741 | +€3,193 | +21.9% |
| Other operating charges | 640/8 | €1,998 | €2,279 | +€281 | +14.1% |
| Gross operating margin | 9900 | €80,883 | €80,362 | -€521 | -0.6% |
| Operating profit (loss) | 9901 | €25,567 | €24,455 | -€1,112 | -4.3% |
| Financial income | 75/76B | €81 | €80 | -€2 | -2.1% |
| Recurring financial income | 75 | €81 | €80 | -€2 | -2.1% |
| Financial charges | 65/66B | €5,081 | €3,341 | -€1,740 | -34.2% |
| Recurring financial charges | 65 | €5,081 | €3,341 | -€1,740 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | €20,567 | €21,194 | +€627 | +3.0% |
| Income taxes | 67/77 | €6,425 | €7,046 | +€621 | +9.7% |
| Profit (loss) for the period | 9904 | €14,142 | €14,148 | +€6 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,142 | €14,148 | +€6 | 0.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.