Extended 111: 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.
Extended 111
Largest movements
- Receivables within one year -€300,827
down €300,827 (-63.0%), from €477,842 to €177,015
of which Trade receivables: -€297,663
- Stocks and contracts -€119,231
down €119,231 (-52.8%), from €225,650 to €106,419
- Tangible fixed assets -€16,727
down €16,727 (-6.3%), from €264,165 to €247,438
of which Leasing and similar rights: -€27,539
- Profit (loss) carried forward -€386,817
down €386,817, from €231,551 to -€155,266
- Trade debts -€124,724
down €124,724 (-24.8%), from €503,153 to €378,429
- Tax, wage and social debts +€67,699
up €67,699 (+645.8%), from €10,483 to €78,182
of which Taxes: +€65,186
- Advances received +€47,802
up €47,802 (+1327.8%), from €3,600 to €51,402
- Debts after one year -€26,209
down €26,209 (-42.6%), from €61,500 to €35,291
- Gross operating margin -€291,530
down €291,530, from €96,456 to -€195,074
- Staff costs +€27,189
up €27,189 (+61.5%), from €44,205 to €71,393
- Other operating charges +€27,187
up €27,187 (+408.6%), from €6,654 to €33,841
- Depreciation +€16,393
up €16,393 (+36.8%), from €44,550 to €60,944
- Taxes +€13,022
up €13,022 (+347.6%), from €3,746 to €16,768
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €999,840 | €580,544 | -€419,296 | -41.9% |
| Fixed assets | 21/28 | €275,265 | €268,438 | -€6,827 | -2.5% |
| Tangible fixed assets | 22/27 | €264,165 | €247,438 | -€16,727 | -6.3% |
| Plant, machinery and equipment | 23 | €140,276 | €147,772 | +€7,496 | +5.3% |
| Furniture and vehicles | 24 | €22,836 | €27,366 | +€4,529 | +19.8% |
| Leasing and similar rights | 25 | €94,156 | €66,617 | -€27,539 | -29.2% |
| Other tangible fixed assets | 26 | €2,526 | €2,257 | -€269 | -10.6% |
| Assets under construction and advance payments | 27 | €4,371 | €3,426 | -€945 | -21.6% |
| Financial fixed assets | 28 | €11,100 | €21,000 | +€9,900 | +89.2% |
| Current assets | 29/58 | €724,575 | €312,106 | -€412,469 | -56.9% |
| Stocks and contracts in progress | 3 | €225,650 | €106,419 | -€119,231 | -52.8% |
| Stocks | 30/36 | €225,650 | €106,419 | -€119,231 | -52.8% |
| Amounts receivable within one year | 40/41 | €477,842 | €177,015 | -€300,827 | -63.0% |
| Trade receivables | 40 | €469,193 | €171,530 | -€297,663 | -63.4% |
| Other amounts receivable | 41 | €8,649 | €5,485 | -€3,165 | -36.6% |
| Cash at bank and in hand | 54/58 | €17,780 | €27,683 | +€9,903 | +55.7% |
| Deferred charges and accrued income | 490/1 | €3,303 | €989 | -€2,314 | -70.1% |
| Total equity and liabilities | 10/49 | €999,840 | €580,544 | -€419,296 | -41.9% |
| Equity | 10/15 | €250,251 | -€136,566 | -€386,817 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €231,551 | -€155,266 | -€386,817 | |
| Amounts payable | 17/49 | €749,589 | €717,110 | -€32,480 | -4.3% |
| Amounts payable after more than one year | 17 | €61,500 | €35,291 | -€26,209 | -42.6% |
| Financial debts | 170/4 | €61,500 | €35,291 | -€26,209 | -42.6% |
| Amounts payable within one year | 42/48 | €682,354 | €681,819 | -€535 | -0.1% |
| Current portion of amounts payable after more than one year | 42 | €35,104 | €33,786 | -€1,318 | -3.8% |
| Trade debts | 44 | €503,153 | €378,429 | -€124,724 | -24.8% |
| Suppliers | 440/4 | €503,153 | €378,429 | -€124,724 | -24.8% |
| Advances received on contracts in progress | 46 | €3,600 | €51,402 | +€47,802 | +1327.8% |
| Taxes, remuneration and social security | 45 | €10,483 | €78,182 | +€67,699 | +645.8% |
| Taxes | 450/3 | €750 | €65,937 | +€65,186 | +8690.6% |
| Remuneration and social security | 454/9 | €9,733 | €12,245 | +€2,512 | +25.8% |
| Other amounts payable | 47/48 | €130,013 | €140,020 | +€10,007 | +7.7% |
| Accrued charges and deferred income | 492/3 | €5,735 | - | -€5,735 | |
| Remuneration, social security and pensions | 62 | €44,205 | €71,393 | +€27,189 | +61.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,550 | €60,944 | +€16,393 | +36.8% |
| Other operating charges | 640/8 | €6,654 | €33,841 | +€27,187 | +408.6% |
| Non-recurring operating charges | 66A | - | €101 | +€101 | |
| Gross operating margin | 9900 | €96,456 | -€195,074 | -€291,530 | |
| Operating profit (loss) | 9901 | €1,046 | -€361,353 | -€362,400 | |
| Financial income | 75/76B | €354 | €859 | +€506 | +143.0% |
| Recurring financial income | 75 | €354 | €859 | +€506 | +143.0% |
| Financial charges | 65/66B | €8,458 | €9,555 | +€1,096 | +13.0% |
| Recurring financial charges | 65 | €8,458 | €9,555 | +€1,096 | +13.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,058 | -€370,049 | -€362,990 | -5142.9% |
| Income taxes | 67/77 | €3,746 | €16,768 | +€13,022 | +347.6% |
| Profit (loss) for the period | 9904 | -€10,804 | -€386,817 | -€376,013 | -3480.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,804 | -€386,817 | -€376,013 | -3480.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.