FIVE YEARS: 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.
FIVE YEARS
Largest movements
- Receivables within one year +€895,000
new in 2025: €895,000
- Stocks and contracts +€638,088
up €638,088 (+2.1%), from €29.8m to €30.5m
- Cash +€475,425
up €475,425 (+430.0%), from €110,561 to €585,986
mainly Short-term financial debts (+€4.1m) and Trade debts (+€495,153)
- Short-term financial debts +€4.1m
up €4.1m (+16.4%), from €25.1m to €29.2m
- Other debts -€2.7m
down €2.7m (-56.5%), from €4.7m to €2.1m
- Trade debts +€495,153
up €495,153 (+16888.1%), from €2,932 to €498,085
- Financial charges -€638,496
down €638,496 (-53.8%), from €1.2m to €548,521
- Gross operating margin -€434,837
down €434,837 (-40.8%), from €1.1m to €630,786
- Financial income -€179,693
down €179,693 (-90.8%), from €197,851 to €18,158
- Other operating charges +€11,768
up €11,768 (+18.7%), from €62,798 to €74,566
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 | €29,944,146 | €31,948,809 | +€2.0m | +6.7% |
| Current assets | 29/58 | €29,944,146 | €31,948,809 | +€2.0m | +6.7% |
| Stocks and contracts in progress | 3 | €29,828,386 | €30,466,474 | +€638,088 | +2.1% |
| Stocks | 30/36 | €29,828,386 | €30,466,474 | +€638,088 | +2.1% |
| Amounts receivable within one year | 40/41 | - | €895,000 | +€895,000 | |
| Trade receivables | 40 | - | €895,000 | +€895,000 | |
| Cash at bank and in hand | 54/58 | €110,561 | €585,986 | +€475,425 | +430.0% |
| Deferred charges and accrued income | 490/1 | €5,199 | €1,349 | -€3,850 | -74.1% |
| Total equity and liabilities | 10/49 | €29,944,146 | €31,948,809 | +€2.0m | +6.7% |
| Equity | 10/15 | €88,146 | €107,103 | +€18,957 | +21.5% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,146 | €32,103 | +€18,957 | +144.2% |
| Amounts payable | 17/49 | €29,856,000 | €31,841,705 | +€2.0m | +6.7% |
| Amounts payable within one year | 42/48 | €29,845,885 | €31,781,918 | +€1.9m | +6.5% |
| Financial debts | 43 | €25,102,413 | €29,223,568 | +€4.1m | +16.4% |
| Credit institutions | 430/8 | €25,102,413 | €29,223,568 | +€4.1m | +16.4% |
| Trade debts | 44 | €2,932 | €498,085 | +€495,153 | +16888.1% |
| Suppliers | 440/4 | €2,932 | €498,085 | +€495,153 | +16888.1% |
| Taxes, remuneration and social security | 45 | €18,150 | €6,901 | -€11,249 | -62.0% |
| Taxes | 450/3 | €18,150 | €6,901 | -€11,249 | -62.0% |
| Other amounts payable | 47/48 | €4,722,390 | €2,053,364 | -€2.7m | -56.5% |
| Accrued charges and deferred income | 492/3 | €10,115 | €59,788 | +€49,673 | +491.1% |
| Other operating charges | 640/8 | €62,798 | €74,566 | +€11,768 | +18.7% |
| Gross operating margin | 9900 | €1,065,623 | €630,786 | -€434,837 | -40.8% |
| Operating profit (loss) | 9901 | €1,002,826 | €556,221 | -€446,605 | -44.5% |
| Financial income | 75/76B | €197,851 | €18,158 | -€179,693 | -90.8% |
| Recurring financial income | 75 | €197,851 | €18,158 | -€179,693 | -90.8% |
| Financial charges | 65/66B | €1,187,017 | €548,521 | -€638,496 | -53.8% |
| Recurring financial charges | 65 | €1,187,017 | €548,521 | -€638,496 | -53.8% |
| Profit (loss) for the period before taxes | 9903 | €13,659 | €25,858 | +€12,198 | +89.3% |
| Income taxes | 67/77 | €3,722 | €6,901 | +€3,179 | +85.4% |
| Profit (loss) for the period | 9904 | €9,937 | €18,957 | +€9,020 | +90.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,937 | €18,957 | +€9,020 | +90.8% |
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 7 October 2026 via checked.be.