Eye-Catcher: 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.
Eye-Catcher
Largest movements
- Receivables within one year -€173,748
down €173,748 (-50.2%), from €346,135 to €172,387
of which Other amounts receivable: -€92,356
- Tangible fixed assets +€86,847
up €86,847 (+49.7%), from €174,714 to €261,560
of which Other tangible fixed assets: +€46,599
- Cash -€27,324
down €27,324 (-51.6%), from €52,927 to €25,603
mainly Investment in fixed assets (net) (-€130,264) and Tax, wage and social debts (-€80,977)
- Stocks and contracts +€11,932
up €11,932 (+51.6%), from €23,124 to €35,056
- Tax, wage and social debts -€80,977
down €80,977 (-71.8%), from €112,709 to €31,731
of which Taxes: -€82,927
- Trade debts -€62,915
down €62,915 (-40.8%), from €154,046 to €91,130
- Reserves -€60,000
down €60,000 (-25.5%), from €235,000 to €175,000
- Debts after one year +€57,331
up €57,331 (+71.6%), from €80,091 to €137,422
- Current portion of long-term debt +€27,383
up €27,383 (+246.7%), from €11,102 to €38,485
- Gross operating margin -€50,366
down €50,366 (-33.9%), from €148,765 to €98,399
- Depreciation +€25,672
up €25,672 (+138.3%), from €18,561 to €44,233
- Taxes -€19,330
down €19,330 (-66.2%), from €29,183 to €9,854
- Financial income -€4,350
down €4,350 (-66.8%), from €6,516 to €2,166
- Financial charges +€3,288
up €3,288 (+20.4%), from €16,141 to €19,429
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 | €607,590 | €501,981 | -€105,609 | -17.4% |
| Fixed assets | 21/28 | €182,903 | €268,934 | +€86,030 | +47.0% |
| Intangible fixed assets | 21 | €8,189 | €7,373 | -€816 | -10.0% |
| Tangible fixed assets | 22/27 | €174,714 | €261,560 | +€86,847 | +49.7% |
| Plant, machinery and equipment | 23 | €4,481 | €9,336 | +€4,855 | +108.3% |
| Furniture and vehicles | 24 | €36,196 | €71,590 | +€35,394 | +97.8% |
| Other tangible fixed assets | 26 | €134,036 | €180,635 | +€46,599 | +34.8% |
| Current assets | 29/58 | €424,686 | €233,047 | -€191,639 | -45.1% |
| Stocks and contracts in progress | 3 | €23,124 | €35,056 | +€11,932 | +51.6% |
| Stocks | 30/36 | €23,124 | €35,056 | +€11,932 | +51.6% |
| Amounts receivable within one year | 40/41 | €346,135 | €172,387 | -€173,748 | -50.2% |
| Trade receivables | 40 | €253,779 | €172,387 | -€81,392 | -32.1% |
| Other amounts receivable | 41 | €92,356 | - | -€92,356 | |
| Cash at bank and in hand | 54/58 | €52,927 | €25,603 | -€27,324 | -51.6% |
| Deferred charges and accrued income | 490/1 | €2,500 | - | -€2,500 | |
| Total equity and liabilities | 10/49 | €607,590 | €501,981 | -€105,609 | -17.4% |
| Equity | 10/15 | €242,155 | €183,261 | -€58,894 | -24.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €235,000 | €175,000 | -€60,000 | -25.5% |
| Distributable reserves | 133 | €235,000 | €175,000 | -€60,000 | -25.5% |
| Profit (loss) carried forward | 14 | €2,155 | €3,261 | +€1,106 | +51.3% |
| Amounts payable | 17/49 | €365,435 | €318,720 | -€46,715 | -12.8% |
| Amounts payable after more than one year | 17 | €80,091 | €137,422 | +€57,331 | +71.6% |
| Financial debts | 170/4 | €80,091 | €137,422 | +€57,331 | +71.6% |
| Amounts payable within one year | 42/48 | €284,844 | €180,798 | -€104,046 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €11,102 | €38,485 | +€27,383 | +246.7% |
| Trade debts | 44 | €154,046 | €91,130 | -€62,915 | -40.8% |
| Suppliers | 440/4 | €154,046 | €91,130 | -€62,915 | -40.8% |
| Advances received on contracts in progress | 46 | €6,988 | €6,988 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €112,709 | €31,731 | -€80,977 | -71.8% |
| Taxes | 450/3 | €112,709 | €29,781 | -€82,927 | -73.6% |
| Remuneration and social security | 454/9 | - | €1,950 | +€1,950 | |
| Other amounts payable | 47/48 | - | €12,463 | +€12,463 | |
| Accrued charges and deferred income | 492/3 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,561 | €44,233 | +€25,672 | +138.3% |
| Other operating charges | 640/8 | €4,783 | €5,944 | +€1,161 | +24.3% |
| Gross operating margin | 9900 | €148,765 | €98,399 | -€50,366 | -33.9% |
| Operating profit (loss) | 9901 | €125,421 | €48,222 | -€77,198 | -61.6% |
| Financial income | 75/76B | €6,516 | €2,166 | -€4,350 | -66.8% |
| Recurring financial income | 75 | €6,516 | €2,166 | -€4,350 | -66.8% |
| Financial charges | 65/66B | €16,141 | €19,429 | +€3,288 | +20.4% |
| Recurring financial charges | 65 | €16,141 | €19,429 | +€3,288 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | €115,796 | €30,960 | -€84,836 | -73.3% |
| Income taxes | 67/77 | €29,183 | €9,854 | -€19,330 | -66.2% |
| Profit (loss) for the period | 9904 | €86,612 | €21,106 | -€65,507 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €86,612 | €21,106 | -€65,507 | -75.6% |
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 6 October 2026 via checked.be.