EARLYTRACKS: 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.
EARLYTRACKS
Largest movements
- Receivables within one year -€106,370
down €106,370 (-18.4%), from €577,144 to €470,773
of which Trade receivables: -€108,267
- Intangible fixed assets +€41,826
up €41,826 (+4.9%), from €847,062 to €888,889
- Cash -€36,074
down €36,074 (-75.2%), from €47,966 to €11,892
mainly Investment in fixed assets (net) (-€317,979) and Debts after one year (-€118,548)
- Short-term financial debts +€125,000
new in 2024: €125,000
- Debts after one year -€118,548
down €118,548 (-41.3%), from €287,015 to €168,467
- Trade debts +€110,304
up €110,304 (+67.2%), from €164,134 to €274,438
of which Suppliers: +€89,362
- Tax, wage and social debts -€107,480
down €107,480 (-33.8%), from €318,109 to €210,629
of which Taxes: -€96,303
- Profit (loss) carried forward -€94,611
down €94,611 (-19.7%), from -€480,864 to -€575,475
- Gross operating margin -€105,844
down €105,844 (-9.9%), from €1.1m to €960,986
- Staff costs -€54,002
down €54,002 (-6.6%), from €812,259 to €758,257
- Depreciation +€31,748
up €31,748 (+13.4%), from €237,565 to €269,313
- Financial income -€17,138
down €17,138 (-100.0%), from €17,142 to €5
of which Non-recurring financial income: -€16,896
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,495,421 | €1,390,840 | -€104,581 | -7.0% |
| Formation expenses | 20 | €3,376 | €2,517 | -€859 | -25.4% |
| Fixed assets | 21/28 | €851,302 | €900,826 | +€49,524 | +5.8% |
| Intangible fixed assets | 21 | €847,062 | €888,889 | +€41,826 | +4.9% |
| Tangible fixed assets | 22/27 | €3,986 | €11,684 | +€7,698 | +193.1% |
| Furniture and vehicles | 24 | €3,986 | €11,684 | +€7,698 | +193.1% |
| Financial fixed assets | 28 | €254 | €254 | = | 0.0% |
| Current assets | 29/58 | €640,743 | €487,496 | -€153,247 | -23.9% |
| Amounts receivable within one year | 40/41 | €577,144 | €470,773 | -€106,370 | -18.4% |
| Trade receivables | 40 | €577,144 | €468,876 | -€108,267 | -18.8% |
| Other amounts receivable | 41 | - | €1,897 | +€1,897 | |
| Cash at bank and in hand | 54/58 | €47,966 | €11,892 | -€36,074 | -75.2% |
| Deferred charges and accrued income | 490/1 | €15,633 | €4,831 | -€10,802 | -69.1% |
| Total equity and liabilities | 10/49 | €1,495,421 | €1,390,840 | -€104,581 | -7.0% |
| Equity | 10/15 | €533,866 | €439,255 | -€94,611 | -17.7% |
| Contributions | 10/11 | €1,014,391 | €1,014,391 | = | 0.0% |
| Capital | 10 | €1,014,391 | €1,014,391 | = | 0.0% |
| Issued capital | 100 | €1,014,391 | €1,014,391 | = | 0.0% |
| Reserves | 13 | €339 | €339 | = | 0.0% |
| Non-distributable reserves | 130/1 | €339 | €339 | = | 0.0% |
| Legal reserve | 130 | €339 | €339 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€480,864 | -€575,475 | -€94,611 | -19.7% |
| Amounts payable | 17/49 | €961,555 | €951,585 | -€9,970 | -1.0% |
| Amounts payable after more than one year | 17 | €287,015 | €168,467 | -€118,548 | -41.3% |
| Financial debts | 170/4 | €287,015 | €168,467 | -€118,548 | -41.3% |
| Amounts payable within one year | 42/48 | €621,696 | €739,214 | +€117,518 | +18.9% |
| Current portion of amounts payable after more than one year | 42 | €138,672 | €128,289 | -€10,383 | -7.5% |
| Financial debts | 43 | - | €125,000 | +€125,000 | |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Trade debts | 44 | €164,134 | €274,438 | +€110,304 | +67.2% |
| Suppliers | 440/4 | €164,134 | €253,496 | +€89,362 | +54.4% |
| Bills of exchange payable | 441 | - | €20,942 | +€20,942 | |
| Taxes, remuneration and social security | 45 | €318,109 | €210,629 | -€107,480 | -33.8% |
| Taxes | 450/3 | €150,052 | €53,749 | -€96,303 | -64.2% |
| Remuneration and social security | 454/9 | €168,057 | €156,880 | -€11,176 | -6.7% |
| Other amounts payable | 47/48 | €781 | €858 | +€77 | +9.9% |
| Accrued charges and deferred income | 492/3 | €52,844 | €43,904 | -€8,940 | -16.9% |
| Remuneration, social security and pensions | 62 | €812,259 | €758,257 | -€54,002 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €237,565 | €269,313 | +€31,748 | +13.4% |
| Other operating charges | 640/8 | €1,317 | €3,940 | +€2,622 | +199.1% |
| Gross operating margin | 9900 | €1,066,830 | €960,986 | -€105,844 | -9.9% |
| Operating profit (loss) | 9901 | €15,689 | -€70,524 | -€86,213 | |
| Financial income | 75/76B | €17,142 | €5 | -€17,138 | -100.0% |
| Recurring financial income | 75 | €246 | €5 | -€242 | -98.1% |
| Non-recurring financial income | 76B | €16,896 | - | -€16,896 | |
| Financial charges | 65/66B | €23,715 | €23,926 | +€211 | +0.9% |
| Recurring financial charges | 65 | €23,715 | €23,926 | +€211 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €9,117 | -€94,445 | -€103,562 | |
| Income taxes | 67/77 | €771 | €166 | -€605 | -78.5% |
| Profit (loss) for the period | 9904 | €8,345 | -€94,611 | -€102,957 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,345 | -€94,611 | -€102,957 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.