ELEVEN: 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.
ELEVEN
Largest movements
- Receivables within one year +€31,009
up €31,009 (+53.0%), from €58,518 to €89,528
of which Other amounts receivable: +€26,476
- Cash +€3,451
up €3,451 (+229.8%), from €1,502 to €4,952
mainly Tax, wage and social debts (+€22,839) and Net result for the year (+€11,049)
- Tangible fixed assets +€1,361
up €1,361 (+40.2%), from €3,387 to €4,748
of which Plant, machinery and equipment: +€2,565
- Tax, wage and social debts +€22,839
up €22,839 (+267.9%), from €8,524 to €31,363
of which Taxes: +€22,839
- Reserves +€11,049
up €11,049 (+65.6%), from €16,838 to €27,887
- Trade debts +€2,469
up €2,469 (+5.7%), from €43,373 to €45,841
- Gross operating margin -€6,237
down €6,237 (-18.7%), from €33,396 to €27,159
- Write-downs -€6,000
no longer reported in 2024 (was €6,000)
- Financial charges +€4,167
up €4,167 (+570.9%), from €730 to €4,897
- Taxes +€2,530
up €2,530 (+43.3%), from €5,841 to €8,371
- Other operating charges +€2,328
up €2,328 (+352.4%), from €661 to €2,989
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 | €70,559 | €106,091 | +€35,532 | +50.4% |
| Fixed assets | 21/28 | €3,387 | €4,748 | +€1,361 | +40.2% |
| Tangible fixed assets | 22/27 | €3,387 | €4,748 | +€1,361 | +40.2% |
| Plant, machinery and equipment | 23 | - | €2,565 | +€2,565 | |
| Furniture and vehicles | 24 | €3,387 | €2,184 | -€1,204 | -35.5% |
| Current assets | 29/58 | €67,172 | €101,343 | +€34,171 | +50.9% |
| Stocks and contracts in progress | 3 | €6,863 | €6,863 | = | 0.0% |
| Stocks | 30/36 | €6,863 | €6,863 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,518 | €89,528 | +€31,009 | +53.0% |
| Trade receivables | 40 | €55,481 | €60,014 | +€4,533 | +8.2% |
| Other amounts receivable | 41 | €3,037 | €29,513 | +€26,476 | +871.8% |
| Cash at bank and in hand | 54/58 | €1,502 | €4,952 | +€3,451 | +229.8% |
| Deferred charges and accrued income | 490/1 | €289 | - | -€289 | |
| Total equity and liabilities | 10/49 | €70,559 | €106,091 | +€35,532 | +50.4% |
| Equity | 10/15 | €17,838 | €28,887 | +€11,049 | +61.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €16,838 | €27,887 | +€11,049 | +65.6% |
| Distributable reserves | 133 | €16,838 | €27,887 | +€11,049 | +65.6% |
| Amounts payable | 17/49 | €52,722 | €77,204 | +€24,482 | +46.4% |
| Amounts payable within one year | 42/48 | €52,722 | €77,204 | +€24,482 | +46.4% |
| Trade debts | 44 | €43,373 | €45,841 | +€2,469 | +5.7% |
| Suppliers | 440/4 | €43,373 | €45,841 | +€2,469 | +5.7% |
| Taxes, remuneration and social security | 45 | €8,524 | €31,363 | +€22,839 | +267.9% |
| Taxes | 450/3 | €6,424 | €29,263 | +€22,839 | +355.5% |
| Remuneration and social security | 454/9 | €2,100 | €2,100 | = | 0.0% |
| Other amounts payable | 47/48 | €825 | - | -€825 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €224 | €1,739 | +€1,515 | +675.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,000 | - | -€6,000 | |
| Other operating charges | 640/8 | €661 | €2,989 | +€2,328 | +352.4% |
| Non-recurring operating charges | 66A | €3,736 | - | -€3,736 | |
| Gross operating margin | 9900 | €33,396 | €27,159 | -€6,237 | -18.7% |
| Operating profit (loss) | 9901 | €22,776 | €22,431 | -€344 | -1.5% |
| Financial income | 75/76B | €634 | €1,886 | +€1,253 | +197.7% |
| Recurring financial income | 75 | €634 | €1,886 | +€1,253 | +197.7% |
| Financial charges | 65/66B | €730 | €4,897 | +€4,167 | +570.9% |
| Recurring financial charges | 65 | €730 | €4,897 | +€4,167 | +570.9% |
| Profit (loss) for the period before taxes | 9903 | €22,679 | €19,420 | -€3,259 | -14.4% |
| Income taxes | 67/77 | €5,841 | €8,371 | +€2,530 | +43.3% |
| Profit (loss) for the period | 9904 | €16,838 | €11,049 | -€5,788 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,838 | €11,049 | -€5,788 | -34.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.