FOR ME K: 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.
FOR ME K
Largest movements
- Receivables within one year -€96,193
down €96,193 (-54.5%), from €176,557 to €80,364
of which Trade receivables: -€63,421
- Deferred charges and accrued income -€17,280
down €17,280 (-91.5%), from €18,884 to €1,604
- Tangible fixed assets +€11,519
up €11,519 (+123%), from €9,347 to €20,866
of which Other tangible fixed assets: +€11,169
- Cash -€8,280
down €8,280 (-8.0%), from €103,775 to €95,495
mainly Trade debts (-€154,693) and Current portion of long-term debt (-€23,844)
- Trade debts -€154,693
down €154,693 (-60.3%), from €256,729 to €102,036
- Other debts +€55,750
up €55,750 (+276%), from €20,213 to €75,963
- Current portion of long-term debt -€23,844
no longer reported in 2025 (was €23,844)
- Profit (loss) carried forward +€14,877
up €14,877 (+48.8%), from €30,503 to €45,380
- Tax, wage and social debts -€5,949
down €5,949 (-22.9%), from €25,922 to €19,973
of which Taxes: -€8,338
- Gross operating margin -€69,165
down €69,165 (-33.7%), from €205,495 to €136,330
- Financial income +€26,770
up €26,770 (+680%), from €3,936 to €30,706
- Financial charges +€21,935
up €21,935 (+103%), from €21,297 to €43,232
- Taxes -€16,554
down €16,554 (-56.4%), from €29,354 to €12,800
- Staff costs +€12,352
up €12,352 (+18.3%), from €67,613 to €79,965
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 | €467,711 | €356,052 | -€111,659 | -23.9% |
| Fixed assets | 21/28 | €19,122 | €31,350 | +€12,228 | +63.9% |
| Intangible fixed assets | 21 | €4,432 | €2,640 | -€1,792 | -40.4% |
| Tangible fixed assets | 22/27 | €9,347 | €20,866 | +€11,519 | +123% |
| Plant, machinery and equipment | 23 | €3,516 | €1,979 | -€1,537 | -43.7% |
| Furniture and vehicles | 24 | €1,321 | €3,208 | +€1,887 | +143% |
| Other tangible fixed assets | 26 | €4,510 | €15,679 | +€11,169 | +248% |
| Financial fixed assets | 28 | €5,343 | €7,843 | +€2,500 | +46.8% |
| Current assets | 29/58 | €448,589 | €324,702 | -€123,887 | -27.6% |
| Stocks and contracts in progress | 3 | €149,373 | €147,239 | -€2,134 | -1.4% |
| Stocks | 30/36 | €149,373 | €147,239 | -€2,134 | -1.4% |
| Amounts receivable within one year | 40/41 | €176,557 | €80,364 | -€96,193 | -54.5% |
| Trade receivables | 40 | €141,795 | €78,374 | -€63,421 | -44.7% |
| Other amounts receivable | 41 | €34,762 | €1,990 | -€32,772 | -94.3% |
| Cash at bank and in hand | 54/58 | €103,775 | €95,495 | -€8,280 | -8.0% |
| Deferred charges and accrued income | 490/1 | €18,884 | €1,604 | -€17,280 | -91.5% |
| Total equity and liabilities | 10/49 | €467,711 | €356,052 | -€111,659 | -23.9% |
| Equity | 10/15 | €59,003 | €73,880 | +€14,877 | +25.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €3,500 | €3,500 | = | 0.0% |
| Distributable reserves | 133 | €3,500 | €3,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,503 | €45,380 | +€14,877 | +48.8% |
| Amounts payable | 17/49 | €408,708 | €282,172 | -€126,536 | -31.0% |
| Amounts payable within one year | 42/48 | €408,708 | €279,972 | -€128,736 | -31.5% |
| Current portion of amounts payable after more than one year | 42 | €23,844 | - | -€23,844 | |
| Trade debts | 44 | €256,729 | €102,036 | -€154,693 | -60.3% |
| Suppliers | 440/4 | €256,729 | €102,036 | -€154,693 | -60.3% |
| Advances received on contracts in progress | 46 | €82,000 | €82,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €25,922 | €19,973 | -€5,949 | -22.9% |
| Taxes | 450/3 | €24,386 | €16,048 | -€8,338 | -34.2% |
| Remuneration and social security | 454/9 | €1,536 | €3,925 | +€2,389 | +156% |
| Other amounts payable | 47/48 | €20,213 | €75,963 | +€55,750 | +276% |
| Accrued charges and deferred income | 492/3 | - | €2,200 | +€2,200 | |
| Remuneration, social security and pensions | 62 | €67,613 | €79,965 | +€12,352 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,321 | €6,430 | +€3,109 | +93.6% |
| Other operating charges | 640/8 | €19,824 | €9,732 | -€10,092 | -50.9% |
| Gross operating margin | 9900 | €205,495 | €136,330 | -€69,165 | -33.7% |
| Operating profit (loss) | 9901 | €114,737 | €40,203 | -€74,534 | -65.0% |
| Financial income | 75/76B | €3,936 | €30,706 | +€26,770 | +680% |
| Recurring financial income | 75 | €3,936 | €30,706 | +€26,770 | +680% |
| Financial charges | 65/66B | €21,297 | €43,232 | +€21,935 | +103% |
| Recurring financial charges | 65 | €21,297 | €43,232 | +€21,935 | +103% |
| Profit (loss) for the period before taxes | 9903 | €97,376 | €27,677 | -€69,699 | -71.6% |
| Income taxes | 67/77 | €29,354 | €12,800 | -€16,554 | -56.4% |
| Profit (loss) for the period | 9904 | €68,022 | €14,877 | -€53,145 | -78.1% |
| Profit (loss) for the period to be appropriated | 9905 | €68,022 | €14,877 | -€53,145 | -78.1% |
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 26 October 2026 via checked.be.