EDGAR DUYSTER: 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.
EDGAR DUYSTER
Largest movements
- Tangible fixed assets -€27,393
down €27,393 (-25.5%), from €107,406 to €80,013
of which Furniture and vehicles: -€18,374
- Receivables within one year +€21,953
up €21,953 (+18.9%), from €116,436 to €138,388
of which Trade receivables: +€31,953
- Other debts -€27,808
down €27,808 (-15.0%), from €185,839 to €158,031
- Trade debts +€10,441
up €10,441 (+236%), from €4,421 to €14,862
- Gross operating margin +€28,201
up €28,201 (+12.0%), from €235,875 to €264,077
- Staff costs +€6,291
up €6,291 (+4.4%), from €142,611 to €148,903
- Taxes +€5,781
up €5,781 (+32.1%), from €18,022 to €23,803
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 | €572,614 | €563,127 | -€9,488 | -1.7% |
| Fixed assets | 21/28 | €107,406 | €80,013 | -€27,393 | -25.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €107,406 | €80,013 | -€27,393 | -25.5% |
| Plant, machinery and equipment | 23 | €60,851 | €54,250 | -€6,601 | -10.8% |
| Furniture and vehicles | 24 | €38,600 | €20,226 | -€18,374 | -47.6% |
| Other tangible fixed assets | 26 | €7,955 | €5,537 | -€2,419 | -30.4% |
| Current assets | 29/58 | €465,208 | €483,114 | +€17,906 | +3.8% |
| Amounts receivable within one year | 40/41 | €116,436 | €138,388 | +€21,953 | +18.9% |
| Trade receivables | 40 | €104,458 | €136,410 | +€31,953 | +30.6% |
| Other amounts receivable | 41 | €11,978 | €1,978 | -€10,000 | -83.5% |
| Cash at bank and in hand | 54/58 | €346,216 | €341,602 | -€4,614 | -1.3% |
| Deferred charges and accrued income | 490/1 | €2,556 | €3,123 | +€567 | +22.2% |
| Total equity and liabilities | 10/49 | €572,614 | €563,127 | -€9,488 | -1.7% |
| Equity | 10/15 | €326,126 | €329,652 | +€3,526 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €307,526 | €311,052 | +€3,526 | +1.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €305,666 | €309,192 | +€3,526 | +1.2% |
| Amounts payable | 17/49 | €246,489 | €233,475 | -€13,014 | -5.3% |
| Amounts payable within one year | 42/48 | €246,489 | €233,475 | -€13,014 | -5.3% |
| Trade debts | 44 | €4,421 | €14,862 | +€10,441 | +236% |
| Suppliers | 440/4 | €4,421 | €14,862 | +€10,441 | +236% |
| Taxes, remuneration and social security | 45 | €56,229 | €60,581 | +€4,353 | +7.7% |
| Taxes | 450/3 | €37,515 | €41,631 | +€4,116 | +11.0% |
| Remuneration and social security | 454/9 | €18,713 | €18,950 | +€236 | +1.3% |
| Other amounts payable | 47/48 | €185,839 | €158,031 | -€27,808 | -15.0% |
| Remuneration, social security and pensions | 62 | €142,611 | €148,903 | +€6,291 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,481 | €28,549 | +€68 | +0.2% |
| Other operating charges | 640/8 | €1,331 | €1,469 | +€138 | +10.3% |
| Gross operating margin | 9900 | €235,875 | €264,077 | +€28,201 | +12.0% |
| Operating profit (loss) | 9901 | €63,452 | €85,156 | +€21,704 | +34.2% |
| Financial income | 75/76B | €17 | €1 | -€16 | -95.6% |
| Recurring financial income | 75 | €17 | €1 | -€16 | -95.6% |
| Financial charges | 65/66B | €1,982 | €2,386 | +€404 | +20.4% |
| Recurring financial charges | 65 | €1,982 | €2,386 | +€404 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | €61,487 | €82,771 | +€21,284 | +34.6% |
| Income taxes | 67/77 | €18,022 | €23,803 | +€5,781 | +32.1% |
| Profit (loss) for the period | 9904 | €43,465 | €58,968 | +€15,503 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €43,465 | €58,968 | +€15,503 | +35.7% |
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 21 October 2026 via checked.be.