FIX: 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.
FIX
Largest movements
- Receivables within one year -€726,706
down €726,706 (-57.6%), from €1.3m to €535,469
of which Other amounts receivable: -€736,007
- Deferred charges and accrued income +€171,631
up €171,631 (+1,278%), from €13,427 to €185,058
- Tangible fixed assets -€25,243
down €25,243 (-2.9%), from €865,957 to €840,714
of which Plant, machinery and equipment: -€71,630
- Other debts -€381,228
down €381,228 (-56.7%), from €672,300 to €291,072
- Trade debts -€116,522
down €116,522 (-58.4%), from €199,522 to €83,000
- Debts after one year -€103,248
down €103,248 (-25.7%), from €401,941 to €298,694
- Current portion of long-term debt +€32,216
up €32,216 (+16.2%), from €198,433 to €230,650
- Profit (loss) carried forward -€26,358
down €26,358 (-2.7%), from €964,534 to €938,176
- Financial income +€146,507
up €146,507 (+753%), from €19,444 to €165,952
- Depreciation +€24,246
up €24,246 (+12.8%), from €189,091 to €213,337
- Taxes +€19,918
up €19,918 (+80.6%), from €24,710 to €44,628
- Financial charges +€12,471
up €12,471 (+50.6%), from €24,657 to €37,128
- Other operating charges -€6,288
down €6,288 (-45.6%), from €13,781 to €7,494
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 | €2,518,721 | €1,937,570 | -€581,152 | -23.1% |
| Fixed assets | 21/28 | €1,186,777 | €1,170,034 | -€16,743 | -1.4% |
| Tangible fixed assets | 22/27 | €865,957 | €840,714 | -€25,243 | -2.9% |
| Plant, machinery and equipment | 23 | €281,348 | €209,718 | -€71,630 | -25.5% |
| Furniture and vehicles | 24 | €584,609 | €525,246 | -€59,363 | -10.2% |
| Leasing and similar rights | 25 | - | €105,750 | +€105,750 | |
| Financial fixed assets | 28 | €320,820 | €329,320 | +€8,500 | +2.6% |
| Current assets | 29/58 | €1,331,944 | €767,535 | -€564,409 | -42.4% |
| Amounts receivable within one year | 40/41 | €1,262,176 | €535,469 | -€726,706 | -57.6% |
| Trade receivables | 40 | €67,095 | €76,395 | +€9,301 | +13.9% |
| Other amounts receivable | 41 | €1,195,081 | €459,074 | -€736,007 | -61.6% |
| Cash at bank and in hand | 54/58 | €56,342 | €47,009 | -€9,333 | -16.6% |
| Deferred charges and accrued income | 490/1 | €13,427 | €185,058 | +€171,631 | +1,278% |
| Total equity and liabilities | 10/49 | €2,518,721 | €1,937,570 | -€581,152 | -23.1% |
| Equity | 10/15 | €972,594 | €946,236 | -€26,358 | -2.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €964,534 | €938,176 | -€26,358 | -2.7% |
| Amounts payable | 17/49 | €1,546,127 | €991,333 | -€554,793 | -35.9% |
| Amounts payable after more than one year | 17 | €401,941 | €298,694 | -€103,248 | -25.7% |
| Financial debts | 170/4 | €401,941 | €298,694 | -€103,248 | -25.7% |
| Amounts payable within one year | 42/48 | €1,134,755 | €675,275 | -€459,480 | -40.5% |
| Current portion of amounts payable after more than one year | 42 | €198,433 | €230,650 | +€32,216 | +16.2% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €199,522 | €83,000 | -€116,522 | -58.4% |
| Suppliers | 440/4 | €199,522 | €83,000 | -€116,522 | -58.4% |
| Taxes, remuneration and social security | 45 | €14,499 | €20,553 | +€6,054 | +41.8% |
| Taxes | 450/3 | €14,499 | €20,553 | +€6,054 | +41.8% |
| Other amounts payable | 47/48 | €672,300 | €291,072 | -€381,228 | -56.7% |
| Accrued charges and deferred income | 492/3 | €9,431 | €17,365 | +€7,934 | +84.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189,091 | €213,337 | +€24,246 | +12.8% |
| Other operating charges | 640/8 | €13,781 | €7,494 | -€6,288 | -45.6% |
| Gross operating margin | 9900 | €310,763 | €310,276 | -€487 | -0.2% |
| Operating profit (loss) | 9901 | €107,891 | €89,445 | -€18,446 | -17.1% |
| Financial income | 75/76B | €19,444 | €165,952 | +€146,507 | +753% |
| Recurring financial income | 75 | €19,444 | €165,952 | +€146,507 | +753% |
| Financial charges | 65/66B | €24,657 | €37,128 | +€12,471 | +50.6% |
| Recurring financial charges | 65 | €24,657 | €37,128 | +€12,471 | +50.6% |
| Profit (loss) for the period before taxes | 9903 | €102,678 | €218,270 | +€115,591 | +113% |
| Income taxes | 67/77 | €24,710 | €44,628 | +€19,918 | +80.6% |
| Profit (loss) for the period | 9904 | €77,968 | €173,642 | +€95,673 | +123% |
| Profit (loss) for the period to be appropriated | 9905 | €77,968 | €173,642 | +€95,673 | +123% |
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.