EXPERT TOIT: 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.
EXPERT TOIT
Largest movements
- Receivables within one year +€116,538
up €116,538 (+100%), from €115,979 to €232,517
of which Trade receivables: +€134,975
- Stocks and contracts -€34,549
down €34,549 (-75.9%), from €45,502 to €10,953
of which Stocks: -€27,099
- Deferred charges and accrued income +€12,170
new in 2025: €12,170
- Cash -€4,310
down €4,310 (-8.2%), from €52,346 to €48,035
mainly Receivables within one year (-€116,538) and Investment in fixed assets (net) (-€22,679)
- Other debts +€70,000
new in 2025: €70,000
- Advances received +€21,839
new in 2025: €21,839
- Accrued charges and deferred income +€19,612
new in 2025: €19,612
- Trade debts -€16,751
down €16,751 (-40.9%), from €40,981 to €24,230
- Tax, wage and social debts -€5,685
down €5,685 (-16.1%), from €35,214 to €29,530
of which Remuneration and social security: -€5,567
- Staff costs +€54,217
up €54,217 (+12.1%), from €449,510 to €503,727
- Gross operating margin +€54,012
up €54,012 (+11.2%), from €480,584 to €534,596
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 | €287,033 | €376,787 | +€89,754 | +31.3% |
| Fixed assets | 21/28 | €73,206 | €73,112 | -€94 | -0.1% |
| Intangible fixed assets | 21 | - | €3,612 | +€3,612 | |
| Tangible fixed assets | 22/27 | €73,206 | €69,501 | -€3,706 | -5.1% |
| Land and buildings | 22 | €35,384 | €30,720 | -€4,664 | -13.2% |
| Plant, machinery and equipment | 23 | €19,607 | €18,283 | -€1,324 | -6.8% |
| Furniture and vehicles | 24 | €18,216 | €13,255 | -€4,960 | -27.2% |
| Other tangible fixed assets | 26 | - | €7,243 | +€7,243 | |
| Current assets | 29/58 | €213,827 | €303,675 | +€89,848 | +42.0% |
| Stocks and contracts in progress | 3 | €45,502 | €10,953 | -€34,549 | -75.9% |
| Stocks | 30/36 | €38,052 | €10,953 | -€27,099 | -71.2% |
| Contracts in progress | 37 | €7,450 | - | -€7,450 | |
| Amounts receivable within one year | 40/41 | €115,979 | €232,517 | +€116,538 | +100% |
| Trade receivables | 40 | €74,257 | €209,231 | +€134,975 | +182% |
| Other amounts receivable | 41 | €41,722 | €23,285 | -€18,437 | -44.2% |
| Cash at bank and in hand | 54/58 | €52,346 | €48,035 | -€4,310 | -8.2% |
| Deferred charges and accrued income | 490/1 | - | €12,170 | +€12,170 | |
| Total equity and liabilities | 10/49 | €287,033 | €376,787 | +€89,754 | +31.3% |
| Equity | 10/15 | €167,744 | €173,163 | +€5,419 | +3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €149,144 | €154,563 | +€5,419 | +3.6% |
| Amounts payable | 17/49 | €119,289 | €203,624 | +€84,335 | +70.7% |
| Amounts payable after more than one year | 17 | €36,346 | €31,552 | -€4,794 | -13.2% |
| Financial debts | 170/4 | €36,346 | €31,552 | -€4,794 | -13.2% |
| Amounts payable within one year | 42/48 | €82,943 | €152,461 | +€69,518 | +83.8% |
| Current portion of amounts payable after more than one year | 42 | €6,747 | €6,862 | +€115 | +1.7% |
| Trade debts | 44 | €40,981 | €24,230 | -€16,751 | -40.9% |
| Suppliers | 440/4 | €40,981 | €24,230 | -€16,751 | -40.9% |
| Advances received on contracts in progress | 46 | - | €21,839 | +€21,839 | |
| Taxes, remuneration and social security | 45 | €35,214 | €29,530 | -€5,685 | -16.1% |
| Taxes | 450/3 | €3,363 | €3,246 | -€118 | -3.5% |
| Remuneration and social security | 454/9 | €31,851 | €26,284 | -€5,567 | -17.5% |
| Other amounts payable | 47/48 | - | €70,000 | +€70,000 | |
| Accrued charges and deferred income | 492/3 | - | €19,612 | +€19,612 | |
| Remuneration, social security and pensions | 62 | €449,510 | €503,727 | +€54,217 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,434 | €22,773 | +€339 | +1.5% |
| Other operating charges | 640/8 | €1,236 | €2,280 | +€1,044 | +84.5% |
| Gross operating margin | 9900 | €480,584 | €534,596 | +€54,012 | +11.2% |
| Operating profit (loss) | 9901 | €7,404 | €5,816 | -€1,588 | -21.5% |
| Financial income | 75/76B | €2,167 | €1,351 | -€816 | -37.7% |
| Recurring financial income | 75 | €2,167 | €1,351 | -€816 | -37.7% |
| Financial charges | 65/66B | €2,093 | €1,748 | -€345 | -16.5% |
| Recurring financial charges | 65 | €2,093 | €1,748 | -€345 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | €7,479 | €5,419 | -€2,060 | -27.5% |
| Profit (loss) for the period | 9904 | €7,479 | €5,419 | -€2,060 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,479 | €5,419 | -€2,060 | -27.5% |
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 20 October 2026 via checked.be.