ENTRE LES LIGNES: 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.
ENTRE LES LIGNES
Largest movements
- Receivables within one year +€93,554
up €93,554 (+81.3%), from €115,024 to €208,577
of which Trade receivables: +€93,554
- Cash +€15,327
up €15,327 (+9.6%), from €159,173 to €174,500
mainly Trade debts (+€64,308) and Net result for the year (+€30,329)
- Trade debts +€64,308
up €64,308 (+90.9%), from €70,734 to €135,042
- Other debts +€19,080
up €19,080 (+200%), from €9,540 to €28,620
- Tax, wage and social debts +€13,332
up €13,332 (+390%), from €3,418 to €16,750
- Reserves +€9,800
up €9,800 (+5.2%), from €187,707 to €197,507
of which Distributable reserves: +€9,800
- Gross operating margin -€11,018
down €11,018 (-18.1%), from €60,983 to €49,965
- Financial income +€2,933
up €2,933 (+259,550%), from €1 to €2,934
of which Non-recurring financial income: +€2,934
- Taxes -€2,303
down €2,303 (-13.6%), from €16,880 to €14,577
- Depreciation -€1,196
down €1,196 (-27.2%), from €4,402 to €3,206
- Financial charges -€1,131
down €1,131 (-20.5%), from €5,518 to €4,387
of which Non-recurring financial charges: -€2,571
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 | €278,444 | €384,119 | +€105,675 | +38.0% |
| Fixed assets | 21/28 | €4,248 | €1,042 | -€3,206 | -75.5% |
| Tangible fixed assets | 22/27 | €4,248 | €1,042 | -€3,206 | -75.5% |
| Plant, machinery and equipment | 23 | €922 | €0 | -€922 | -100% |
| Furniture and vehicles | 24 | €3,326 | €1,042 | -€2,284 | -68.7% |
| Current assets | 29/58 | €274,196 | €383,077 | +€108,881 | +39.7% |
| Amounts receivable within one year | 40/41 | €115,024 | €208,577 | +€93,554 | +81.3% |
| Trade receivables | 40 | €107,586 | €201,140 | +€93,554 | +87.0% |
| Other amounts receivable | 41 | €7,438 | €7,438 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €159,173 | €174,500 | +€15,327 | +9.6% |
| Total equity and liabilities | 10/49 | €278,444 | €384,119 | +€105,675 | +38.0% |
| Equity | 10/15 | €193,907 | €203,707 | +€9,800 | +5.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €187,707 | €197,507 | +€9,800 | +5.2% |
| 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 | €185,847 | €195,647 | +€9,800 | +5.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €84,538 | €180,412 | +€95,875 | +113% |
| Amounts payable within one year | 42/48 | €84,538 | €180,412 | +€95,875 | +113% |
| Trade debts | 44 | €70,734 | €135,042 | +€64,308 | +90.9% |
| Suppliers | 440/4 | €70,734 | €135,042 | +€64,308 | +90.9% |
| Advances received on contracts in progress | 46 | €845 | €0 | -€845 | -100% |
| Taxes, remuneration and social security | 45 | €3,418 | €16,750 | +€13,332 | +390% |
| Taxes | 450/3 | €3,418 | €16,750 | +€13,332 | +390% |
| Other amounts payable | 47/48 | €9,540 | €28,620 | +€19,080 | +200% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,402 | €3,206 | -€1,196 | -27.2% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €60,983 | €49,965 | -€11,018 | -18.1% |
| Operating profit (loss) | 9901 | €56,580 | €46,359 | -€10,222 | -18.1% |
| Financial income | 75/76B | €1 | €2,934 | +€2,933 | +259,550% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -90.3% |
| Non-recurring financial income | 76B | - | €2,934 | +€2,934 | |
| Financial charges | 65/66B | €5,518 | €4,387 | -€1,131 | -20.5% |
| Recurring financial charges | 65 | €337 | €1,777 | +€1,440 | +427% |
| Non-recurring financial charges | 66B | €5,181 | €2,610 | -€2,571 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | €51,064 | €44,906 | -€6,158 | -12.1% |
| Income taxes | 67/77 | €16,880 | €14,577 | -€2,303 | -13.6% |
| Profit (loss) for the period | 9904 | €34,184 | €30,329 | -€3,855 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,184 | €30,329 | -€3,855 | -11.3% |
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 29 October 2026 via checked.be.