FINISHING TOUCH.: 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.
FINISHING TOUCH.
Largest movements
- Tangible fixed assets -€15,428
down €15,428 (-7.3%), from €212,569 to €197,140
- Cash +€9,820
up €9,820 (+27.8%), from €35,381 to €45,202
mainly Depreciation (+€21,884) and Receivables within one year (+€7,482)
- Receivables within one year -€7,482
down €7,482 (-66.5%), from €11,245 to €3,763
of which Trade receivables: -€7,835
- Debts after one year -€16,762
down €16,762 (-13.7%), from €122,773 to €106,011
- Trade debts -€5,023
down €5,023 (-44.9%), from €11,191 to €6,168
- Reserves +€4,226
up €4,226 (+5.2%), from €81,614 to €85,840
of which Distributable reserves: +€4,226
- Tax, wage and social debts +€2,689
up €2,689 (+50.3%), from €5,342 to €8,031
of which Taxes: +€2,654
- Gross operating margin -€6,271
down €6,271 (-15.6%), from €40,170 to €33,899
- Taxes -€2,104
down €2,104 (-49.3%), from €4,270 to €2,166
- Depreciation +€1,222
up €1,222 (+5.9%), from €20,663 to €21,884
- Financial charges -€646
down €646 (-13.8%), from €4,681 to €4,035
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 | €262,192 | €248,690 | -€13,502 | -5.1% |
| Fixed assets | 21/28 | €212,569 | €197,140 | -€15,428 | -7.3% |
| Tangible fixed assets | 22/27 | €212,569 | €197,140 | -€15,428 | -7.3% |
| Land and buildings | 22 | €157,087 | €150,590 | -€6,497 | -4.1% |
| Plant, machinery and equipment | 23 | €1,379 | €1,009 | -€370 | -26.8% |
| Furniture and vehicles | 24 | €44,987 | €37,359 | -€7,629 | -17.0% |
| Other tangible fixed assets | 26 | €9,115 | €8,182 | -€933 | -10.2% |
| Current assets | 29/58 | €49,623 | €51,549 | +€1,926 | +3.9% |
| Amounts receivable within one year | 40/41 | €11,245 | €3,763 | -€7,482 | -66.5% |
| Trade receivables | 40 | €11,245 | €3,410 | -€7,835 | -69.7% |
| Other amounts receivable | 41 | - | €353 | +€353 | |
| Cash at bank and in hand | 54/58 | €35,381 | €45,202 | +€9,820 | +27.8% |
| Deferred charges and accrued income | 490/1 | €2,997 | €2,584 | -€412 | -13.8% |
| Total equity and liabilities | 10/49 | €262,192 | €248,690 | -€13,502 | -5.1% |
| Equity | 10/15 | €105,207 | €109,433 | +€4,226 | +4.0% |
| Contributions | 10/11 | €13,406 | €13,406 | = | 0.0% |
| Reserves | 13 | €81,614 | €85,840 | +€4,226 | +5.2% |
| Tax-exempt reserves | 132 | €27,500 | €27,500 | = | 0.0% |
| Distributable reserves | 133 | €54,114 | €58,340 | +€4,226 | +7.8% |
| Profit (loss) carried forward | 14 | €10,188 | €10,188 | = | 0.0% |
| Amounts payable | 17/49 | €156,985 | €139,257 | -€17,728 | -11.3% |
| Amounts payable after more than one year | 17 | €122,773 | €106,011 | -€16,762 | -13.7% |
| Financial debts | 170/4 | €122,773 | €106,011 | -€16,762 | -13.7% |
| Amounts payable within one year | 42/48 | €34,191 | €33,220 | -€971 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €16,093 | €16,762 | +€669 | +4.2% |
| Trade debts | 44 | €11,191 | €6,168 | -€5,023 | -44.9% |
| Suppliers | 440/4 | €11,191 | €6,168 | -€5,023 | -44.9% |
| Taxes, remuneration and social security | 45 | €5,342 | €8,031 | +€2,689 | +50.3% |
| Taxes | 450/3 | €2,330 | €4,983 | +€2,654 | +114% |
| Remuneration and social security | 454/9 | €3,012 | €3,047 | +€35 | +1.2% |
| Other amounts payable | 47/48 | €1,565 | €2,259 | +€694 | +44.3% |
| Accrued charges and deferred income | 492/3 | €20 | €25 | +€5 | +27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,663 | €21,884 | +€1,222 | +5.9% |
| Other operating charges | 640/8 | €1,698 | €1,588 | -€110 | -6.5% |
| Gross operating margin | 9900 | €40,170 | €33,899 | -€6,271 | -15.6% |
| Operating profit (loss) | 9901 | €17,809 | €10,427 | -€7,382 | -41.5% |
| Financial income | 75/76B | €0 | €0 | +€0 | +2,900% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +2,900% |
| Financial charges | 65/66B | €4,681 | €4,035 | -€646 | -13.8% |
| Recurring financial charges | 65 | €4,681 | €4,035 | -€646 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €13,128 | €6,392 | -€6,736 | -51.3% |
| Income taxes | 67/77 | €4,270 | €2,166 | -€2,104 | -49.3% |
| Profit (loss) for the period | 9904 | €8,858 | €4,226 | -€4,632 | -52.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,858 | €4,226 | -€4,632 | -52.3% |
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 20 October 2026 via checked.be.