EVOLUTION: 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.
What changed
EVOLUTION
NACE 18.130, Pre-press and pre-media services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€118,979
2024 · €33,270-€152,249
Equity
€507,751
2024 · €626,730-€118,979
Cash
€1.1m
2024 · €843,536+€293,757
Balance sheet total
€3.4m
2024 · €3.6m-€193,450
Largest movements
Assets
- Cash +€293,757
up €293,757 (+34.8%), from €843,536 to €1.1m
mainly Receivables within one year (+€280,242) and Depreciation (+€117,240)
- Receivables within one year -€280,242
down €280,242 (-12.5%), from €2.2m to €2.0m
of which Trade receivables: -€238,775
- Tangible fixed assets -€107,088
down €107,088 (-42.7%), from €251,015 to €143,927
of which Furniture and vehicles: -€56,889
- Stocks and contracts -€92,047
down €92,047 (-60.9%), from €151,218 to €59,171
Equity and liabilities
- Reserves -€118,979
down €118,979 (-44.9%), from €264,730 to €145,751
of which Distributable reserves: -€118,979
- Debts after one year -€103,180
down €103,180 (-49.1%), from €209,990 to €106,810
of which Financial debts: -€103,180
- Trade debts +€92,475
up €92,475 (+13.7%), from €674,776 to €767,252
- Accrued charges and deferred income -€38,719
down €38,719 (-98.9%), from €39,165 to €446
Income statement
- Gross operating margin -€174,718
down €174,718 (-7.2%), from €2.4m to €2.3m
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.
Result 2024
€33,270
Gross operating margin
-€174,718
Staff costs
+€1,914
Depreciation
+€10,339
Write-downs
-€13,224
Other operating charges
+€1,698
Financial income
-€10,183
Financial charges
+€10,479
Taxes
+€21,446
Result 2025
-€118,979
Cash bridge derived
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.
From operations
+€384,136
Investment
€0
Financing
-€90,379
Cash 2024
€843,536
From operations (derived)
+€384,136
Net result for the year
-€118,979
Depreciation
+€117,240
Stocks and contracts
+€92,047
Receivables within one year
+€280,242
Deferred charges and accrued income
-€2,322
Trade debts
+€92,475
Tax, wage and social debts
-€16,058
Advances received
-€20,320
Other debts
-€1,470
Accrued charges and deferred income
-€38,719
Financing
-€90,379
Debts after one year
-€103,180
Current portion of long-term debt
+€4,064
Short-term financial debts
+€8,737
Cash 2025
€1.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,573,003 | €3,379,553 | -€193,450 | -5.4% |
| Fixed assets | 21/28 | €318,420 | €201,181 | -€117,240 | -36.8% |
| Intangible fixed assets | 21 | €27,868 | €17,717 | -€10,152 | -36.4% |
| Tangible fixed assets | 22/27 | €251,015 | €143,927 | -€107,088 | -42.7% |
| Plant, machinery and equipment | 23 | €64,669 | €37,711 | -€26,959 | -41.7% |
| Furniture and vehicles | 24 | €113,332 | €56,443 | -€56,889 | -50.2% |
| Leasing and similar rights | 25 | €73,014 | €49,773 | -€23,240 | -31.8% |
| Financial fixed assets | 28 | €39,537 | €39,537 | = | 0.0% |
| Current assets | 29/58 | €3,254,583 | €3,178,373 | -€76,210 | -2.3% |
| Stocks and contracts in progress | 3 | €151,218 | €59,171 | -€92,047 | -60.9% |
| Contracts in progress | 37 | €151,218 | €59,171 | -€92,047 | -60.9% |
| Amounts receivable within one year | 40/41 | €2,235,596 | €1,955,354 | -€280,242 | -12.5% |
| Trade receivables | 40 | €1,676,677 | €1,437,902 | -€238,775 | -14.2% |
| Other amounts receivable | 41 | €558,918 | €517,452 | -€41,466 | -7.4% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €843,536 | €1,137,293 | +€293,757 | +34.8% |
| Deferred charges and accrued income | 490/1 | €24,233 | €26,555 | +€2,322 | +9.6% |
| Total equity and liabilities | 10/49 | €3,573,003 | €3,379,553 | -€193,450 | -5.4% |
| Equity | 10/15 | €626,730 | €507,751 | -€118,979 | -19.0% |
| Contributions | 10/11 | €362,000 | €362,000 | = | 0.0% |
| Capital | 10 | €362,000 | €362,000 | = | 0.0% |
| Issued capital | 100 | €362,000 | €362,000 | = | 0.0% |
| Reserves | 13 | €264,730 | €145,751 | -€118,979 | -44.9% |
| Non-distributable reserves | 130/1 | €36,200 | €36,200 | = | 0.0% |
| Legal reserve | 130 | €36,200 | €36,200 | = | 0.0% |
| Distributable reserves | 133 | €228,530 | €109,551 | -€118,979 | -52.1% |
| Amounts payable | 17/49 | €2,946,273 | €2,871,803 | -€74,471 | -2.5% |
| Amounts payable after more than one year | 17 | €209,990 | €106,810 | -€103,180 | -49.1% |
| Financial debts | 170/4 | €209,990 | €106,810 | -€103,180 | -49.1% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €2,697,119 | €2,764,547 | +€67,428 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €103,214 | €107,277 | +€4,064 | +3.9% |
| Financial debts | 43 | €1,040,024 | €1,048,761 | +€8,737 | +0.8% |
| Credit institutions | 430/8 | €1,040,024 | €1,048,761 | +€8,737 | +0.8% |
| Trade debts | 44 | €674,776 | €767,252 | +€92,475 | +13.7% |
| Suppliers | 440/4 | €674,776 | €767,252 | +€92,475 | +13.7% |
| Advances received on contracts in progress | 46 | €539,836 | €519,516 | -€20,320 | -3.8% |
| Taxes, remuneration and social security | 45 | €337,799 | €321,741 | -€16,058 | -4.8% |
| Taxes | 450/3 | €25,127 | €19,823 | -€5,304 | -21.1% |
| Remuneration and social security | 454/9 | €312,672 | €301,918 | -€10,754 | -3.4% |
| Other amounts payable | 47/48 | €1,470 | €0 | -€1,470 | -100.0% |
| Accrued charges and deferred income | 492/3 | €39,165 | €446 | -€38,719 | -98.9% |
| Non-recurring operating income | 76A | €5,124 | €1,250 | -€3,874 | -75.6% |
| Remuneration, social security and pensions | 62 | €2,216,201 | €2,214,287 | -€1,914 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,579 | €117,240 | -€10,339 | -8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €13,224 | +€13,224 | |
| Other operating charges | 640/8 | €3,599 | €1,901 | -€1,698 | -47.2% |
| Gross operating margin | 9900 | €2,437,839 | €2,263,121 | -€174,718 | -7.2% |
| Operating profit (loss) | 9901 | €90,461 | -€83,530 | -€173,991 | |
| Financial income | 75/76B | €21,480 | €11,297 | -€10,183 | -47.4% |
| Recurring financial income | 75 | €9,580 | €11,297 | +€1,717 | +17.9% |
| Non-recurring financial income | 76B | €11,900 | €0 | -€11,900 | -100.0% |
| Financial charges | 65/66B | €55,900 | €45,421 | -€10,479 | -18.7% |
| Recurring financial charges | 65 | €55,900 | €45,421 | -€10,479 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €56,041 | -€117,654 | -€173,695 | |
| Income taxes | 67/77 | €22,771 | €1,325 | -€21,446 | -94.2% |
| Profit (loss) for the period | 9904 | €33,270 | -€118,979 | -€152,249 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,270 | -€118,979 | -€152,249 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.