FINAL TOUCH: 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.
FINAL TOUCH
Largest movements
- Cash +€253,307
up €253,307 (+190.6%), from €132,884 to €386,191
mainly Advances received (+€203,312) and Depreciation (+€104,558)
- Intangible fixed assets -€100,000
no longer reported in 2025 (was €100,000)
- Stocks and contracts +€63,305
up €63,305 (+22.7%), from €278,951 to €342,256
of which Contracts in progress: +€63,305
- Current investments +€16,364
up €16,364 (+3.3%), from €500,000 to €516,364
- Deferred charges and accrued income +€15,328
up €15,328 (+123.2%), from €12,444 to €27,772
- Advances received +€203,312
up €203,312 (+1258.2%), from €16,159 to €219,471
- Tax, wage and social debts +€19,616
up €19,616 (+51.4%), from €38,127 to €57,743
of which Taxes: +€19,468
- Reserves +€17,707
up €17,707 (+3.0%), from €585,097 to €602,804
- Other debts +€15,725
up €15,725 (+5.4%), from €290,428 to €306,153
- Gross operating margin -€61,849
down €61,849 (-21.6%), from €285,897 to €224,049
- Taxes +€21,539
up €21,539 (+115.3%), from €18,686 to €40,225
- Financial income +€19,858
up €19,858 (+1423.3%), from €1,395 to €21,253
- Depreciation -€19,785
down €19,785 (-15.9%), from €124,343 to €104,558
- Financial charges +€3,834
up €3,834 (+413.9%), from €926 to €4,760
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 | €1,057,663 | €1,306,415 | +€248,752 | +23.5% |
| Fixed assets | 21/28 | €121,886 | €20,436 | -€101,450 | -83.2% |
| Intangible fixed assets | 21 | €100,000 | - | -€100,000 | |
| Tangible fixed assets | 22/27 | €12,448 | €10,998 | -€1,450 | -11.6% |
| Plant, machinery and equipment | 23 | €12,368 | €8,089 | -€4,279 | -34.6% |
| Furniture and vehicles | 24 | €79 | €2,909 | +€2,829 | +3564.0% |
| Financial fixed assets | 28 | €9,438 | €9,438 | = | 0.0% |
| Current assets | 29/58 | €935,777 | €1,285,979 | +€350,202 | +37.4% |
| Stocks and contracts in progress | 3 | €278,951 | €342,256 | +€63,305 | +22.7% |
| Stocks | 30/36 | €278,951 | €278,951 | = | 0.0% |
| Contracts in progress | 37 | - | €63,305 | +€63,305 | |
| Amounts receivable within one year | 40/41 | €11,498 | €13,396 | +€1,899 | +16.5% |
| Trade receivables | 40 | €11,498 | €13,340 | +€1,842 | +16.0% |
| Other amounts receivable | 41 | - | €56 | +€56 | |
| Current investments | 50/53 | €500,000 | €516,364 | +€16,364 | +3.3% |
| Cash at bank and in hand | 54/58 | €132,884 | €386,191 | +€253,307 | +190.6% |
| Deferred charges and accrued income | 490/1 | €12,444 | €27,772 | +€15,328 | +123.2% |
| Total equity and liabilities | 10/49 | €1,057,663 | €1,306,415 | +€248,752 | +23.5% |
| Equity | 10/15 | €685,097 | €702,804 | +€17,707 | +2.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €585,097 | €602,804 | +€17,707 | +3.0% |
| Distributable reserves | 133 | €585,097 | €602,804 | +€17,707 | +3.0% |
| Amounts payable | 17/49 | €372,566 | €603,611 | +€231,045 | +62.0% |
| Amounts payable within one year | 42/48 | €372,566 | €603,611 | +€231,045 | +62.0% |
| Trade debts | 44 | €27,851 | €20,244 | -€7,607 | -27.3% |
| Suppliers | 440/4 | €27,851 | €20,244 | -€7,607 | -27.3% |
| Advances received on contracts in progress | 46 | €16,159 | €219,471 | +€203,312 | +1258.2% |
| Taxes, remuneration and social security | 45 | €38,127 | €57,743 | +€19,616 | +51.4% |
| Taxes | 450/3 | €29,035 | €48,502 | +€19,468 | +67.0% |
| Remuneration and social security | 454/9 | €9,093 | €9,241 | +€148 | +1.6% |
| Other amounts payable | 47/48 | €290,428 | €306,153 | +€15,725 | +5.4% |
| Remuneration, social security and pensions | 62 | €73,710 | €76,837 | +€3,127 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,343 | €104,558 | -€19,785 | -15.9% |
| Other operating charges | 640/8 | €1,268 | €1,214 | -€53 | -4.2% |
| Gross operating margin | 9900 | €285,897 | €224,049 | -€61,849 | -21.6% |
| Operating profit (loss) | 9901 | €86,576 | €41,439 | -€45,137 | -52.1% |
| Financial income | 75/76B | €1,395 | €21,253 | +€19,858 | +1423.3% |
| Recurring financial income | 75 | €1,395 | €21,253 | +€19,858 | +1423.3% |
| Financial charges | 65/66B | €926 | €4,760 | +€3,834 | +413.9% |
| Recurring financial charges | 65 | €926 | €4,760 | +€3,834 | +413.9% |
| Profit (loss) for the period before taxes | 9903 | €87,045 | €57,932 | -€29,113 | -33.4% |
| Income taxes | 67/77 | €18,686 | €40,225 | +€21,539 | +115.3% |
| Profit (loss) for the period | 9904 | €68,359 | €17,707 | -€50,653 | -74.1% |
| Profit (loss) for the period to be appropriated | 9905 | €68,359 | €17,707 | -€50,653 | -74.1% |
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 30 September 2026 via checked.be.