FRESHNESS: 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.
FRESHNESS
Largest movements
- Stocks and contracts +€153,659
up €153,659 (+44.4%), from €345,859 to €499,518
- Cash +€38,179
up €38,179 (+14.5%), from €263,962 to €302,141
mainly Trade debts (+€103,036) and Short-term financial debts (+€92,281)
- Tangible fixed assets -€26,669
down €26,669 (-38.4%), from €69,496 to €42,827
of which Leasing and similar rights: -€22,074
- Trade debts +€103,036
up €103,036 (+99.6%), from €103,409 to €206,445
- Short-term financial debts +€92,281
up €92,281 (+43.9%), from €210,332 to €302,613
- Current portion of long-term debt -€12,506
down €12,506 (-50.6%), from €24,709 to €12,203
- Debts after one year -€12,203
down €12,203 (-5.5%), from €222,203 to €210,000
- Gross operating margin -€28,760
down €28,760 (-19.1%), from €150,830 to €122,071
- Staff costs +€9,401
up €9,401 (+20.9%), from €44,981 to €54,382
- Taxes -€6,146
down €6,146 (-82.2%), from €7,475 to €1,329
- Financial charges -€3,932
down €3,932 (-9.8%), from €39,948 to €36,016
- Depreciation -€1,875
down €1,875 (-5.6%), from €33,411 to €31,536
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 | €792,594 | €963,594 | +€171,000 | +21.6% |
| Fixed assets | 21/28 | €72,439 | €43,236 | -€29,202 | -40.3% |
| Intangible fixed assets | 21 | €2,943 | €410 | -€2,533 | -86.1% |
| Tangible fixed assets | 22/27 | €69,496 | €42,827 | -€26,669 | -38.4% |
| Land and buildings | 22 | €1,063 | €939 | -€123 | -11.6% |
| Plant, machinery and equipment | 23 | €20,425 | €16,851 | -€3,575 | -17.5% |
| Furniture and vehicles | 24 | €3,103 | €2,206 | -€897 | -28.9% |
| Leasing and similar rights | 25 | €44,905 | €22,830 | -€22,074 | -49.2% |
| Current assets | 29/58 | €720,155 | €920,358 | +€200,203 | +27.8% |
| Stocks and contracts in progress | 3 | €345,859 | €499,518 | +€153,659 | +44.4% |
| Stocks | 30/36 | €345,859 | €499,518 | +€153,659 | +44.4% |
| Amounts receivable within one year | 40/41 | €110,333 | €118,698 | +€8,365 | +7.6% |
| Trade receivables | 40 | - | €58,153 | +€58,153 | |
| Other amounts receivable | 41 | €110,333 | €60,545 | -€49,788 | -45.1% |
| Cash at bank and in hand | 54/58 | €263,962 | €302,141 | +€38,179 | +14.5% |
| Total equity and liabilities | 10/49 | €792,594 | €963,594 | +€171,000 | +21.6% |
| Equity | 10/15 | €217,265 | €215,136 | -€2,129 | -1.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €212,265 | €212,265 | = | 0.0% |
| Distributable reserves | 133 | €212,265 | €212,265 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,129 | -€2,129 | |
| Amounts payable | 17/49 | €575,329 | €748,458 | +€173,130 | +30.1% |
| Amounts payable after more than one year | 17 | €222,203 | €210,000 | -€12,203 | -5.5% |
| Financial debts | 170/4 | €222,203 | €210,000 | -€12,203 | -5.5% |
| Amounts payable within one year | 42/48 | €353,126 | €538,458 | +€185,333 | +52.5% |
| Current portion of amounts payable after more than one year | 42 | €24,709 | €12,203 | -€12,506 | -50.6% |
| Financial debts | 43 | €210,332 | €302,613 | +€92,281 | +43.9% |
| Credit institutions | 430/8 | €210,332 | €302,613 | +€92,281 | +43.9% |
| Trade debts | 44 | €103,409 | €206,445 | +€103,036 | +99.6% |
| Suppliers | 440/4 | €103,409 | €206,445 | +€103,036 | +99.6% |
| Taxes, remuneration and social security | 45 | €8,765 | €10,218 | +€1,453 | +16.6% |
| Taxes | 450/3 | €1,237 | €2,567 | +€1,329 | +107.4% |
| Remuneration and social security | 454/9 | €7,528 | €7,651 | +€124 | +1.6% |
| Other amounts payable | 47/48 | €5,909 | €6,979 | +€1,070 | +18.1% |
| Non-recurring operating income | 76A | - | €2,000 | +€2,000 | |
| Remuneration, social security and pensions | 62 | €44,981 | €54,382 | +€9,401 | +20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,411 | €31,536 | -€1,875 | -5.6% |
| Other operating charges | 640/8 | €1,289 | €940 | -€349 | -27.1% |
| Gross operating margin | 9900 | €150,830 | €122,071 | -€28,760 | -19.1% |
| Operating profit (loss) | 9901 | €71,149 | €35,212 | -€35,937 | -50.5% |
| Financial income | 75/76B | €68 | €4 | -€64 | -94.3% |
| Recurring financial income | 75 | €68 | €4 | -€64 | -94.3% |
| Financial charges | 65/66B | €39,948 | €36,016 | -€3,932 | -9.8% |
| Recurring financial charges | 65 | €39,948 | €36,016 | -€3,932 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €31,268 | -€800 | -€32,069 | |
| Income taxes | 67/77 | €7,475 | €1,329 | -€6,146 | -82.2% |
| Profit (loss) for the period | 9904 | €23,794 | -€2,129 | -€25,923 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,794 | -€2,129 | -€25,923 |
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 8 October 2026 via checked.be.