ENTREDEUX: 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.
ENTREDEUX
Largest movements
- Current investments +€200,000
new in 2025: €200,000
- Receivables within one year +€137,334
up €137,334 (+42.5%), from €323,197 to €460,531
of which Other amounts receivable: +€88,830
- Tangible fixed assets +€131,189
up €131,189 (+23.3%), from €562,810 to €693,999
of which Land and buildings: +€114,194
- Cash -€129,332
down €129,332 (-43.2%), from €299,409 to €170,076
mainly Current investments (-€200,000) and Investment in fixed assets (net) (-€186,849)
- Intangible fixed assets -€58,540
down €58,540 (-62.0%), from €94,357 to €35,817
- Debts after one year +€129,918
up €129,918 (+31.9%), from €407,054 to €536,972
- Accrued charges and deferred income +€129,200
up €129,200 (+461,429%), from €28 to €129,228
- Trade debts -€66,970
down €66,970 (-31.3%), from €214,168 to €147,197
- Advances received +€63,176
up €63,176 (+120%), from €52,629 to €115,804
- Reserves +€37,000
up €37,000 (+6.9%), from €538,910 to €575,910
- Gross operating margin +€89,640
up €89,640 (+44.7%), from €200,520 to €290,160
- Staff costs +€35,988
up €35,988 (+48.2%), from €74,707 to €110,695
- Depreciation +€22,374
up €22,374 (+24.4%), from €91,825 to €114,200
- Financial charges +€7,849
up €7,849 (+58.5%), from €13,425 to €21,273
- Taxes -€5,050
down €5,050 (-54.9%), from €9,199 to €4,150
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 | €1,292,294 | €1,573,649 | +€281,354 | +21.8% |
| Fixed assets | 21/28 | €657,167 | €729,816 | +€72,649 | +11.1% |
| Intangible fixed assets | 21 | €94,357 | €35,817 | -€58,540 | -62.0% |
| Tangible fixed assets | 22/27 | €562,810 | €693,999 | +€131,189 | +23.3% |
| Land and buildings | 22 | €543,532 | €657,726 | +€114,194 | +21.0% |
| Plant, machinery and equipment | 23 | €770 | €5,162 | +€4,392 | +571% |
| Furniture and vehicles | 24 | €18,508 | €31,111 | +€12,603 | +68.1% |
| Current assets | 29/58 | €635,128 | €843,833 | +€208,705 | +32.9% |
| Stocks and contracts in progress | 3 | €11,822 | €12,766 | +€944 | +8.0% |
| Stocks | 30/36 | €11,822 | €12,766 | +€944 | +8.0% |
| Amounts receivable within one year | 40/41 | €323,197 | €460,531 | +€137,334 | +42.5% |
| Trade receivables | 40 | €257,879 | €306,383 | +€48,504 | +18.8% |
| Other amounts receivable | 41 | €65,318 | €154,148 | +€88,830 | +136% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €299,409 | €170,076 | -€129,332 | -43.2% |
| Deferred charges and accrued income | 490/1 | €700 | €460 | -€240 | -34.3% |
| Total equity and liabilities | 10/49 | €1,292,294 | €1,573,649 | +€281,354 | +21.8% |
| Equity | 10/15 | €554,655 | €591,658 | +€37,003 | +6.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €538,910 | €575,910 | +€37,000 | +6.9% |
| Distributable reserves | 133 | €538,910 | €575,910 | +€37,000 | +6.9% |
| Profit (loss) carried forward | 14 | €3,345 | €3,348 | +€3 | +0.1% |
| Amounts payable | 17/49 | €737,639 | €981,991 | +€244,352 | +33.1% |
| Amounts payable after more than one year | 17 | €407,054 | €536,972 | +€129,918 | +31.9% |
| Financial debts | 170/4 | €407,054 | €536,972 | +€129,918 | +31.9% |
| Amounts payable within one year | 42/48 | €330,558 | €315,791 | -€14,767 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €8,826 | €12,573 | +€3,747 | +42.5% |
| Trade debts | 44 | €214,168 | €147,197 | -€66,970 | -31.3% |
| Suppliers | 440/4 | €214,168 | €147,197 | -€66,970 | -31.3% |
| Advances received on contracts in progress | 46 | €52,629 | €115,804 | +€63,176 | +120% |
| Taxes, remuneration and social security | 45 | €48,935 | €40,216 | -€8,719 | -17.8% |
| Taxes | 450/3 | €34,892 | €24,931 | -€9,961 | -28.5% |
| Remuneration and social security | 454/9 | €14,043 | €15,285 | +€1,243 | +8.8% |
| Other amounts payable | 47/48 | €6,000 | - | -€6,000 | |
| Accrued charges and deferred income | 492/3 | €28 | €129,228 | +€129,200 | +461,429% |
| Remuneration, social security and pensions | 62 | €74,707 | €110,695 | +€35,988 | +48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,825 | €114,200 | +€22,374 | +24.4% |
| Other operating charges | 640/8 | €1,757 | €5,922 | +€4,165 | +237% |
| Gross operating margin | 9900 | €200,520 | €290,160 | +€89,640 | +44.7% |
| Operating profit (loss) | 9901 | €32,230 | €59,344 | +€27,113 | +84.1% |
| Financial income | 75/76B | €6,657 | €3,082 | -€3,575 | -53.7% |
| Recurring financial income | 75 | €6,657 | €3,082 | -€3,575 | -53.7% |
| Financial charges | 65/66B | €13,425 | €21,273 | +€7,849 | +58.5% |
| Recurring financial charges | 65 | €13,425 | €21,273 | +€7,849 | +58.5% |
| Profit (loss) for the period before taxes | 9903 | €25,463 | €41,152 | +€15,689 | +61.6% |
| Income taxes | 67/77 | €9,199 | €4,150 | -€5,050 | -54.9% |
| Profit (loss) for the period | 9904 | €16,264 | €37,003 | +€20,739 | +128% |
| Profit (loss) for the period to be appropriated | 9905 | €16,264 | €37,003 | +€20,739 | +128% |
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.