Explore.Brussels: 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.
Explore.Brussels
Largest movements
- Cash -€9,846
down €9,846 (-27.7%), from €35,546 to €25,700
mainly Trade debts (-€13,852) and Tax, wage and social debts (-€9,763)
- Intangible fixed assets +€4,405
new in 2025: €4,405
- Receivables within one year -€2,677
down €2,677 (-1.5%), from €182,563 to €179,886
of which Other amounts receivable: -€2,408
- Trade debts -€13,852
down €13,852 (-24.9%), from €55,544 to €41,693
- Provisions +€13,132
new in 2025: €13,132
- Tax, wage and social debts -€9,763
down €9,763 (-30.8%), from €31,652 to €21,889
of which Remuneration and social security: -€5,879
- Profit (loss) carried forward +€7,465
up €7,465 (+56.6%), from €13,190 to €20,654
- Gross operating margin +€25,219
up €25,219 (+8.3%), from €304,160 to €329,379
- Staff costs +€20,351
up €20,351 (+7.5%), from €273,145 to €293,496
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €237,262 | €230,282 | -€6,981 | -2.9% |
| Fixed assets | 21/28 | €12,156 | €15,385 | +€3,229 | +26.6% |
| Intangible fixed assets | 21 | - | €4,405 | +€4,405 | |
| Tangible fixed assets | 22/27 | €2,526 | €1,350 | -€1,176 | -46.6% |
| Furniture and vehicles | 24 | €2,526 | €1,350 | -€1,176 | -46.6% |
| Financial fixed assets | 28 | €9,630 | €9,630 | = | 0.0% |
| Current assets | 29/58 | €225,106 | €214,897 | -€10,209 | -4.5% |
| Stocks and contracts in progress | 3 | €5,418 | €7,731 | +€2,313 | +42.7% |
| Stocks | 30/36 | €5,418 | €7,731 | +€2,313 | +42.7% |
| Amounts receivable within one year | 40/41 | €182,563 | €179,886 | -€2,677 | -1.5% |
| Trade receivables | 40 | €907 | €638 | -€269 | -29.6% |
| Other amounts receivable | 41 | €181,656 | €179,247 | -€2,408 | -1.3% |
| Cash at bank and in hand | 54/58 | €35,546 | €25,700 | -€9,846 | -27.7% |
| Deferred charges and accrued income | 490/1 | €1,580 | €1,580 | = | 0.0% |
| Total equity and liabilities | 10/49 | €237,262 | €230,282 | -€6,981 | -2.9% |
| Equity | 10/15 | €137,841 | €145,306 | +€7,465 | +5.4% |
| Contributions | 10/11 | €57,858 | €57,858 | = | 0.0% |
| Capital | 10 | €57,858 | €57,858 | = | 0.0% |
| Reserves | 13 | €66,794 | €66,794 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,190 | €20,654 | +€7,465 | +56.6% |
| Provisions and deferred taxes | 16 | - | €13,132 | +€13,132 | |
| Provisions for liabilities and charges | 160/5 | - | €13,132 | +€13,132 | |
| Other liabilities and charges | 164/5 | - | €13,132 | +€13,132 | |
| Amounts payable | 17/49 | €99,421 | €71,844 | -€27,577 | -27.7% |
| Amounts payable within one year | 42/48 | €89,336 | €63,621 | -€25,716 | -28.8% |
| Financial debts | 43 | €2,140 | €39 | -€2,101 | -98.2% |
| Credit institutions | 430/8 | €2,140 | €39 | -€2,101 | -98.2% |
| Trade debts | 44 | €55,544 | €41,693 | -€13,852 | -24.9% |
| Suppliers | 440/4 | €55,544 | €41,693 | -€13,852 | -24.9% |
| Taxes, remuneration and social security | 45 | €31,652 | €21,889 | -€9,763 | -30.8% |
| Taxes | 450/3 | €5,329 | €1,445 | -€3,884 | -72.9% |
| Remuneration and social security | 454/9 | €26,323 | €20,444 | -€5,879 | -22.3% |
| Accrued charges and deferred income | 492/3 | €10,085 | €8,223 | -€1,862 | -18.5% |
| Remuneration, social security and pensions | 62 | €273,145 | €293,496 | +€20,351 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,556 | €1,190 | -€365 | -23.5% |
| Other operating charges | 640/8 | - | €132 | +€132 | |
| Non-recurring operating charges | 66A | €476 | €7,989 | +€7,512 | +1576.6% |
| Gross operating margin | 9900 | €304,160 | €329,379 | +€25,219 | +8.3% |
| Operating profit (loss) | 9901 | €28,983 | €13,440 | -€15,543 | -53.6% |
| Financial income | 75/76B | €380 | €2 | -€378 | -99.4% |
| Recurring financial income | 75 | €380 | €2 | -€378 | -99.4% |
| Financial charges | 65/66B | €5,065 | €5,978 | +€912 | +18.0% |
| Recurring financial charges | 65 | €5,065 | €5,978 | +€912 | +18.0% |
| Profit (loss) for the period before taxes | 9903 | €24,298 | €7,465 | -€16,833 | -69.3% |
| Profit (loss) for the period | 9904 | €24,298 | €7,465 | -€16,833 | -69.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,298 | €7,465 | -€16,833 | -69.3% |
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 1 October 2026 via checked.be.