FLOW: 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.
FLOW
Largest movements
- Tangible fixed assets -€37,390
down €37,390 (-14.5%), from €257,898 to €220,507
of which Other tangible fixed assets: -€31,337
- Cash +€22,294
up €22,294 (+58.8%), from €37,934 to €60,228
mainly Depreciation (+€37,390) and Net result for the year (+€36,510)
- Receivables within one year -€18,176
down €18,176 (-9.9%), from €183,000 to €164,825
of which Other amounts receivable: -€22,923
- Debts after one year -€33,131
down €33,131 (-16.7%), from €198,047 to €164,916
- Advances received +€8,407
up €8,407 (+61.0%), from €13,786 to €22,194
- Gross operating margin +€18,175
up €18,175 (+23.7%), from €76,530 to €94,704
- Taxes +€5,753
up €5,753 (+37.8%), from €15,238 to €20,991
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 | €487,232 | €453,960 | -€33,272 | -6.8% |
| Fixed assets | 21/28 | €261,398 | €224,007 | -€37,390 | -14.3% |
| Intangible fixed assets | 21 | €3,500 | €3,500 | = | 0.0% |
| Tangible fixed assets | 22/27 | €257,898 | €220,507 | -€37,390 | -14.5% |
| Furniture and vehicles | 24 | €13,116 | €7,063 | -€6,054 | -46.2% |
| Other tangible fixed assets | 26 | €244,781 | €213,445 | -€31,337 | -12.8% |
| Current assets | 29/58 | €225,834 | €229,952 | +€4,118 | +1.8% |
| Amounts receivable within one year | 40/41 | €183,000 | €164,825 | -€18,176 | -9.9% |
| Trade receivables | 40 | €20,357 | €25,104 | +€4,747 | +23.3% |
| Other amounts receivable | 41 | €162,643 | €139,721 | -€22,923 | -14.1% |
| Current investments | 50/53 | €4,900 | €4,900 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €37,934 | €60,228 | +€22,294 | +58.8% |
| Total equity and liabilities | 10/49 | €487,232 | €453,960 | -€33,272 | -6.8% |
| Equity | 10/15 | €223,611 | €224,440 | +€829 | +0.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €222,611 | €223,440 | +€829 | +0.4% |
| Distributable reserves | 133 | €222,611 | €223,440 | +€829 | +0.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €263,621 | €229,520 | -€34,101 | -12.9% |
| Amounts payable after more than one year | 17 | €198,047 | €164,916 | -€33,131 | -16.7% |
| Financial debts | 170/4 | €198,047 | €164,916 | -€33,131 | -16.7% |
| Amounts payable within one year | 42/48 | €65,574 | €64,604 | -€970 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €37,243 | €33,131 | -€4,112 | -11.0% |
| Trade debts | 44 | €6,571 | €4,909 | -€1,662 | -25.3% |
| Suppliers | 440/4 | €6,571 | €4,909 | -€1,662 | -25.3% |
| Advances received on contracts in progress | 46 | €13,786 | €22,194 | +€8,407 | +61.0% |
| Taxes, remuneration and social security | 45 | €7,452 | €3,775 | -€3,677 | -49.3% |
| Taxes | 450/3 | €7,452 | €3,775 | -€3,677 | -49.3% |
| Other amounts payable | 47/48 | €522 | €596 | +€74 | +14.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,390 | €37,390 | = | 0.0% |
| Other operating charges | 640/8 | €4,793 | €5,085 | +€292 | +6.1% |
| Gross operating margin | 9900 | €76,530 | €94,704 | +€18,175 | +23.7% |
| Operating profit (loss) | 9901 | €34,346 | €52,229 | +€17,883 | +52.1% |
| Financial income | 75/76B | €10,262 | €9,529 | -€733 | -7.1% |
| Recurring financial income | 75 | €10,262 | €9,529 | -€733 | -7.1% |
| Financial charges | 65/66B | €4,936 | €4,257 | -€680 | -13.8% |
| Recurring financial charges | 65 | €4,936 | €4,257 | -€680 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €39,672 | €57,501 | +€17,829 | +44.9% |
| Income taxes | 67/77 | €15,238 | €20,991 | +€5,753 | +37.8% |
| Profit (loss) for the period | 9904 | €24,435 | €36,510 | +€12,076 | +49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,435 | €36,510 | +€12,076 | +49.4% |
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 17 October 2026 via checked.be.