FINANCIAL PACT: 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.
FINANCIAL PACT
Largest movements
- Receivables within one year -€118,963
down €118,963 (-54.0%), from €220,135 to €101,172
of which Trade receivables: -€134,691
- Tangible fixed assets -€38,137
down €38,137 (-19.7%), from €193,615 to €155,478
of which Plant, machinery and equipment: -€21,812
- Deferred charges and accrued income +€9,000
new in 2024: €9,000
- Cash -€4,528
down €4,528 (-38.2%), from €11,845 to €7,317
mainly Accrued charges and deferred income (-€70,150) and Trade debts (-€53,084)
- Accrued charges and deferred income -€70,150
down €70,150 (-41.8%), from €167,650 to €97,500
- Trade debts -€53,084
down €53,084 (-54.2%), from €97,873 to €44,788
- Other debts -€16,422
down €16,422 (-12.6%), from €130,795 to €114,373
- Tax, wage and social debts -€11,761
down €11,761 (-42.6%), from €27,626 to €15,865
of which Taxes: -€6,609
- Turnover +€712,918
new in 2024: €712,918
- Purchases and services +€433,482
new in 2024: €433,482
- Gross operating margin -€36,932
down €36,932 (-11.2%), from €330,223 to €293,291
- Staff costs -€34,959
down €34,959 (-12.6%), from €276,360 to €241,401
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.
Derived cash bridge
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 | €435,287 | €284,517 | -€150,770 | -34.6% |
| Fixed assets | 21/28 | €198,565 | €159,128 | -€39,437 | -19.9% |
| Intangible fixed assets | 21 | €4,550 | €3,250 | -€1,300 | -28.6% |
| Tangible fixed assets | 22/27 | €193,615 | €155,478 | -€38,137 | -19.7% |
| Plant, machinery and equipment | 23 | €114,771 | €92,959 | -€21,812 | -19.0% |
| Furniture and vehicles | 24 | €67,581 | €54,259 | -€13,322 | -19.7% |
| Other tangible fixed assets | 26 | €11,263 | €8,260 | -€3,003 | -26.7% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €236,722 | €125,389 | -€111,333 | -47.0% |
| Stocks and contracts in progress | 3 | €4,742 | €7,900 | +€3,159 | +66.6% |
| Stocks | 30/36 | €4,742 | €7,900 | +€3,159 | +66.6% |
| Amounts receivable within one year | 40/41 | €220,135 | €101,172 | -€118,963 | -54.0% |
| Trade receivables | 40 | €218,796 | €84,105 | -€134,691 | -61.6% |
| Other amounts receivable | 41 | €1,339 | €17,067 | +€15,728 | +1,175% |
| Cash at bank and in hand | 54/58 | €11,845 | €7,317 | -€4,528 | -38.2% |
| Deferred charges and accrued income | 490/1 | - | €9,000 | +€9,000 | |
| Total equity and liabilities | 10/49 | €435,287 | €284,517 | -€150,770 | -34.6% |
| Equity | 10/15 | €11,344 | €11,990 | +€646 | +5.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,344 | €1,990 | +€646 | +48.1% |
| Amounts payable | 17/49 | €423,943 | €272,527 | -€151,417 | -35.7% |
| Amounts payable within one year | 42/48 | €256,293 | €175,027 | -€81,267 | -31.7% |
| Trade debts | 44 | €97,873 | €44,788 | -€53,084 | -54.2% |
| Suppliers | 440/4 | €97,873 | €44,788 | -€53,084 | -54.2% |
| Taxes, remuneration and social security | 45 | €27,626 | €15,865 | -€11,761 | -42.6% |
| Taxes | 450/3 | €22,474 | €15,865 | -€6,609 | -29.4% |
| Remuneration and social security | 454/9 | €5,152 | - | -€5,152 | |
| Other amounts payable | 47/48 | €130,795 | €114,373 | -€16,422 | -12.6% |
| Accrued charges and deferred income | 492/3 | €167,650 | €97,500 | -€70,150 | -41.8% |
| Turnover | 70 | - | €712,918 | +€712,918 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €433,482 | +€433,482 | |
| Remuneration, social security and pensions | 62 | €276,360 | €241,401 | -€34,959 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,919 | €47,919 | = | 0.0% |
| Other operating charges | 640/8 | €1,147 | €1,984 | +€837 | +72.9% |
| Gross operating margin | 9900 | €330,223 | €293,291 | -€36,932 | -11.2% |
| Operating profit (loss) | 9901 | €4,796 | €1,986 | -€2,810 | -58.6% |
| Financial income | 75/76B | €0 | €0 | +€0 | +1,550% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +1,550% |
| Financial charges | 65/66B | €4,134 | €1,340 | -€2,793 | -67.6% |
| Recurring financial charges | 65 | €4,134 | €1,340 | -€2,793 | -67.6% |
| Profit (loss) for the period before taxes | 9903 | €662 | €646 | -€16 | -2.4% |
| Profit (loss) for the period | 9904 | €662 | €646 | -€16 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €662 | €646 | -€16 | -2.4% |
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 25 October 2026 via checked.be.