DO NOT DISTURB: 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.
DO NOT DISTURB
Largest movements
- Receivables within one year +€33,382
up €33,382 (+485%), from €6,883 to €40,265
of which Trade receivables: +€34,913
- Tangible fixed assets -€22,063
down €22,063 (-5.5%), from €397,760 to €375,697
of which Plant, machinery and equipment: -€12,492
- Trade debts +€30,258
up €30,258 (+60.1%), from €50,307 to €80,565
- Debts after one year -€14,110
down €14,110 (-5.6%), from €253,416 to €239,306
- Other debts -€7,984
down €7,984 (-42.1%), from €18,968 to €10,984
- Tax, wage and social debts +€7,704
up €7,704 (+49.2%), from €15,669 to €23,373
- Staff costs -€24,838
no longer reported in 2025 (was €24,838)
- Gross operating margin -€8,842
down €8,842 (-13.0%), from €67,987 to €59,145
- Other operating charges +€6,672
up €6,672 (+158%), from €4,218 to €10,890
- Financial charges +€3,673
up €3,673 (+38.9%), from €9,449 to €13,122
of which Financial charges: +€4,432
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €404,643 | €418,742 | +€14,099 | +3.5% |
| Fixed assets | 21/28 | €397,760 | €375,697 | -€22,063 | -5.5% |
| Tangible fixed assets | 22/27 | €397,760 | €375,697 | -€22,063 | -5.5% |
| Land and buildings | 22 | €314,955 | €306,543 | -€8,412 | -2.7% |
| Plant, machinery and equipment | 23 | €77,991 | €65,499 | -€12,492 | -16.0% |
| Furniture and vehicles | 24 | €4,814 | €3,655 | -€1,159 | -24.1% |
| Current assets | 29/58 | €6,883 | €43,045 | +€36,162 | +525% |
| Amounts receivable within one year | 40/41 | €6,883 | €40,265 | +€33,382 | +485% |
| Trade receivables | 40 | - | €34,913 | +€34,913 | |
| Other amounts receivable | 41 | €6,883 | €5,352 | -€1,531 | -22.2% |
| Deferred charges and accrued income | 490/1 | - | €2,780 | +€2,780 | |
| Total equity and liabilities | 10/49 | €404,643 | €418,742 | +€14,099 | +3.5% |
| Equity | 10/15 | €35,528 | €35,614 | +€86 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,928 | €17,014 | +€86 | +0.5% |
| Provisions and deferred taxes | 16 | €10,000 | €10,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €359,115 | €373,128 | +€14,013 | +3.9% |
| Amounts payable after more than one year | 17 | €253,416 | €239,306 | -€14,110 | -5.6% |
| Financial debts | 170/4 | €253,416 | €239,306 | -€14,110 | -5.6% |
| Amounts payable within one year | 42/48 | €105,699 | €133,822 | +€28,123 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €12,147 | €14,111 | +€1,964 | +16.2% |
| Financial debts | 43 | €8,608 | €4,789 | -€3,819 | -44.4% |
| Other loans | 439 | €8,608 | €4,789 | -€3,819 | -44.4% |
| Trade debts | 44 | €50,307 | €80,565 | +€30,258 | +60.1% |
| Suppliers | 440/4 | €50,307 | €80,565 | +€30,258 | +60.1% |
| Taxes, remuneration and social security | 45 | €15,669 | €23,373 | +€7,704 | +49.2% |
| Taxes | 450/3 | €15,669 | €23,373 | +€7,704 | +49.2% |
| Other amounts payable | 47/48 | €18,968 | €10,984 | -€7,984 | -42.1% |
| Remuneration, social security and pensions | 62 | €24,838 | - | -€24,838 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,718 | €23,978 | +€260 | +1.1% |
| Other operating charges | 640/8 | €4,218 | €10,890 | +€6,672 | +158% |
| Non-recurring operating charges | 66A | - | €510 | +€510 | |
| Gross operating margin | 9900 | €67,987 | €59,145 | -€8,842 | -13.0% |
| Operating profit (loss) | 9901 | €15,213 | €23,767 | +€8,554 | +56.2% |
| Financial income | 75/76B | €47 | - | -€47 | |
| Recurring financial income | 75 | €47 | - | -€47 | |
| Financial charges | 65/66B | €9,449 | €13,122 | +€3,673 | +38.9% |
| Recurring financial charges | 65 | €8,690 | €13,122 | +€4,432 | +51.0% |
| Non-recurring financial charges | 66B | €759 | - | -€759 | |
| Profit (loss) for the period before taxes | 9903 | €5,811 | €10,645 | +€4,834 | +83.2% |
| Income taxes | 67/77 | €10,499 | €10,559 | +€60 | +0.6% |
| Profit (loss) for the period | 9904 | -€4,688 | €86 | +€4,774 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,688 | €86 | +€4,774 |
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.