F24 BELGIUM: 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.
F24 BELGIUM
Largest movements
- Intangible fixed assets -€25,019
down €25,019 (-43.2%), from €57,852 to €32,833
- Receivables within one year +€21,425
up €21,425 (+7.5%), from €285,913 to €307,338
of which Trade receivables: +€73,418
- Deferred charges and accrued income +€6,240
up €6,240 (+459%), from €1,359 to €7,599
- Accrued charges and deferred income +€21,601
up €21,601 (+11.4%), from €189,521 to €211,122
- Profit (loss) carried forward -€19,493
down €19,493 (-18.3%), from -€106,334 to -€125,827
- Gross operating margin -€46,894
down €46,894 (-35.7%), from €131,529 to €84,635
- Staff costs -€23,127
down €23,127 (-23.0%), from €100,657 to €77,530
- Financial income -€1,603
down €1,603 (-76.6%), from €2,093 to €490
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 | €410,218 | €411,617 | +€1,399 | +0.3% |
| Fixed assets | 21/28 | €59,161 | €33,590 | -€25,572 | -43.2% |
| Intangible fixed assets | 21 | €57,852 | €32,833 | -€25,019 | -43.2% |
| Tangible fixed assets | 22/27 | €1,151 | €599 | -€552 | -48.0% |
| Furniture and vehicles | 24 | €1,151 | €599 | -€552 | -48.0% |
| Financial fixed assets | 28 | €158 | €158 | = | 0.0% |
| Current assets | 29/58 | €351,057 | €378,027 | +€26,971 | +7.7% |
| Amounts receivable within one year | 40/41 | €285,913 | €307,338 | +€21,425 | +7.5% |
| Trade receivables | 40 | €133,820 | €207,237 | +€73,418 | +54.9% |
| Other amounts receivable | 41 | €152,093 | €100,100 | -€51,993 | -34.2% |
| Cash at bank and in hand | 54/58 | €63,785 | €63,091 | -€694 | -1.1% |
| Deferred charges and accrued income | 490/1 | €1,359 | €7,599 | +€6,240 | +459% |
| Total equity and liabilities | 10/49 | €410,218 | €411,617 | +€1,399 | +0.3% |
| Equity | 10/15 | €193,666 | €174,173 | -€19,493 | -10.1% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€106,334 | -€125,827 | -€19,493 | -18.3% |
| Amounts payable | 17/49 | €216,552 | €237,444 | +€20,892 | +9.6% |
| Amounts payable within one year | 42/48 | €27,031 | €26,322 | -€709 | -2.6% |
| Trade debts | 44 | €6,477 | €5,350 | -€1,127 | -17.4% |
| Suppliers | 440/4 | €6,477 | €5,350 | -€1,127 | -17.4% |
| Taxes, remuneration and social security | 45 | €20,554 | €20,972 | +€418 | +2.0% |
| Taxes | 450/3 | €9,026 | €20,972 | +€11,946 | +132% |
| Remuneration and social security | 454/9 | €11,527 | €0 | -€11,527 | -100% |
| Accrued charges and deferred income | 492/3 | €189,521 | €211,122 | +€21,601 | +11.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €100,657 | €77,530 | -€23,127 | -23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,075 | €25,572 | -€503 | -1.9% |
| Other operating charges | 640/8 | €0 | €799 | +€799 | |
| Non-recurring operating charges | 66A | - | €177 | +€177 | |
| Gross operating margin | 9900 | €131,529 | €84,635 | -€46,894 | -35.7% |
| Operating profit (loss) | 9901 | €4,797 | -€19,443 | -€24,241 | |
| Financial income | 75/76B | €2,093 | €490 | -€1,603 | -76.6% |
| Recurring financial income | 75 | €2,093 | €490 | -€1,603 | -76.6% |
| Financial charges | 65/66B | €395 | €540 | +€145 | +36.6% |
| Recurring financial charges | 65 | €395 | €540 | +€145 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | €6,495 | -€19,493 | -€25,988 | |
| Profit (loss) for the period | 9904 | €6,495 | -€19,493 | -€25,988 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,495 | -€19,493 | -€25,988 |
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 19 October 2026 via checked.be.