FROM-UN: 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.
What changed
FROM-UN
NACE 46.331, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€137,568
2024 · €137,609-€41
Equity
€1.9m
2024 · €2.2m-€262,432
Cash
€424,997
2024 · €326,928+€98,069
Balance sheet total
€10.7m
2024 · €11.2m-€495,521
Largest movements
Assets
- Tangible fixed assets -€327,007
down €327,007 (-6.6%), from €4.9m to €4.6m
of which Land and buildings: -€311,982
- Receivables within one year -€143,554
down €143,554 (-2.8%), from €5.2m to €5.1m
of which Other amounts receivable: -€95,000
- Stocks and contracts -€130,282
down €130,282 (-17.0%), from €765,493 to €635,211
Equity and liabilities
- Trade debts -€434,807
down €434,807 (-8.4%), from €5.2m to €4.7m
- Other debts +€400,000
new in 2025: €400,000
- Reserves -€262,432
down €262,432 (-13.3%), from €2.0m to €1.7m
of which Distributable reserves: -€197,212
- Debts after one year -€258,107
down €258,107 (-8.8%), from €2.9m to €2.7m
Income statement
- Goods and materials +€574,452
up €574,452 (+1.8%), from €31.8m to €32.4m
of which Change in stocks: decrease (increase): +€315,898
- Turnover +€500,547
up €500,547 (+1.4%), from €34.9m to €35.4m
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.
Result 2024
€137,609
Turnover
+€500,547
Other operating income
-€8,786
Goods and materials
-€574,452
Services and other goods
+€42,218
Staff costs
+€57,190
Depreciation
-€3,043
Other operating charges
-€3,754
Other operating items
-€58,258
Financial income
+€8,302
Financial charges
+€42,276
Taxes
-€12,156
Deferred taxes and other
+€9,875
Result 2025
€137,568
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€763,690
Investment
-€15,245
Financing
-€650,376
Cash 2024
€326,928
From operations (derived)
+€763,690
Net result for the year
+€137,568
Depreciation
+€342,252
Stocks and contracts
+€130,282
Receivables within one year
+€143,554
Deferred charges and accrued income
-€7,254
Provisions
-€21,740
Trade debts
-€434,807
Tax, wage and social debts
+€73,836
Other debts
+€400,000
Investment (derived)
-€15,245
Investment in fixed assets (net)
-€15,245
Financing
-€650,376
Debts after one year
-€258,107
Current portion of long-term debt
+€7,731
Contributions, distributions and other
-€400,000
Cash 2025
€424,997
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,233,777 | €10,738,257 | -€495,521 | -4.4% |
| Fixed assets | 21/28 | €4,929,117 | €4,602,110 | -€327,007 | -6.6% |
| Tangible fixed assets | 22/27 | €4,929,117 | €4,602,110 | -€327,007 | -6.6% |
| Land and buildings | 22 | €4,810,002 | €4,498,020 | -€311,982 | -6.5% |
| Plant, machinery and equipment | 23 | €115,144 | €83,661 | -€31,483 | -27.3% |
| Furniture and vehicles | 24 | €3,972 | €20,429 | +€16,457 | +414% |
| Current assets | 29/58 | €6,304,660 | €6,136,147 | -€168,513 | -2.7% |
| Stocks and contracts in progress | 3 | €765,493 | €635,211 | -€130,282 | -17.0% |
| Stocks | 30/36 | €765,493 | €635,211 | -€130,282 | -17.0% |
| Goods purchased for resale | 34 | €765,493 | €635,211 | -€130,282 | -17.0% |
| Amounts receivable within one year | 40/41 | €5,197,763 | €5,054,208 | -€143,554 | -2.8% |
| Trade receivables | 40 | €4,585,279 | €4,536,724 | -€48,554 | -1.1% |
| Other amounts receivable | 41 | €612,484 | €517,484 | -€95,000 | -15.5% |
| Cash at bank and in hand | 54/58 | €326,928 | €424,997 | +€98,069 | +30.0% |
| Deferred charges and accrued income | 490/1 | €14,477 | €21,731 | +€7,254 | +50.1% |
| Total equity and liabilities | 10/49 | €11,233,777 | €10,738,257 | -€495,521 | -4.4% |
| Equity | 10/15 | €2,155,490 | €1,893,058 | -€262,432 | -12.2% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €1,980,490 | €1,718,058 | -€262,432 | -13.3% |
| Non-distributable reserves | 130/1 | €17,500 | €17,500 | = | 0.0% |
| Legal reserve | 130 | €17,500 | €17,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,175,462 | €1,110,241 | -€65,221 | -5.5% |
| Distributable reserves | 133 | €787,529 | €590,317 | -€197,212 | -25.0% |
| Provisions and deferred taxes | 16 | €391,820 | €370,080 | -€21,740 | -5.5% |
| Deferred taxes | 168 | €391,820 | €370,080 | -€21,740 | -5.5% |
| Amounts payable | 17/49 | €8,686,467 | €8,475,119 | -€211,348 | -2.4% |
| Amounts payable after more than one year | 17 | €2,917,313 | €2,659,206 | -€258,107 | -8.8% |
| Financial debts | 170/4 | €2,917,313 | €2,659,206 | -€258,107 | -8.8% |
| Credit institutions | 173 | €2,917,313 | €2,659,206 | -€258,107 | -8.8% |
| Amounts payable within one year | 42/48 | €5,769,153 | €5,815,913 | +€46,760 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €277,295 | €285,026 | +€7,731 | +2.8% |
| Trade debts | 44 | €5,163,662 | €4,728,855 | -€434,807 | -8.4% |
| Suppliers | 440/4 | €5,163,662 | €4,728,855 | -€434,807 | -8.4% |
| Taxes, remuneration and social security | 45 | €328,196 | €402,032 | +€73,836 | +22.5% |
| Taxes | 450/3 | €198,004 | €288,514 | +€90,510 | +45.7% |
| Remuneration and social security | 454/9 | €130,192 | €113,518 | -€16,674 | -12.8% |
| Other amounts payable | 47/48 | - | €400,000 | +€400,000 | |
| Operating income | 70/76A | €34,988,811 | €35,422,314 | +€433,503 | +1.2% |
| Turnover | 70 | €34,892,269 | €35,392,816 | +€500,547 | +1.4% |
| Other operating income | 74 | €25,659 | €16,873 | -€8,786 | -34.2% |
| Non-recurring operating income | 76A | €70,883 | €12,625 | -€58,258 | -82.2% |
| Operating charges | 60/66A | €34,386,716 | €34,868,557 | +€481,842 | +1.4% |
| Goods for resale, raw materials and consumables | 60 | €31,839,354 | €32,413,806 | +€574,452 | +1.8% |
| Purchases | 600/8 | €32,024,970 | €32,283,524 | +€258,554 | +0.8% |
| Change in stocks: decrease (increase) | 609 | -€185,616 | €130,282 | +€315,898 | |
| Services and other goods | 61 | €1,211,929 | €1,169,711 | -€42,218 | -3.5% |
| Remuneration, social security and pensions | 62 | €971,643 | €914,453 | -€57,190 | -5.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €339,209 | €342,252 | +€3,043 | +0.9% |
| Other operating charges | 640/8 | €24,580 | €28,334 | +€3,754 | +15.3% |
| Operating profit (loss) | 9901 | €602,095 | €553,756 | -€48,338 | -8.0% |
| Financial income | 75/76B | €101,972 | €110,274 | +€8,302 | +8.1% |
| Recurring financial income | 75 | €101,972 | €110,274 | +€8,302 | +8.1% |
| Other financial income | 752/9 | €101,972 | €110,274 | +€8,302 | +8.1% |
| Financial charges | 65/66B | €506,480 | €464,203 | -€42,276 | -8.3% |
| Recurring financial charges | 65 | €506,480 | €464,203 | -€42,276 | -8.3% |
| Debt charges | 650 | €147,859 | €464,203 | +€316,345 | +214% |
| Other financial charges | 652/9 | €358,621 | - | -€358,621 | |
| Profit (loss) for the period before taxes | 9903 | €197,588 | €199,827 | +€2,240 | +1.1% |
| Transfer from deferred taxes | 780 | €21,740 | €21,740 | = | 0.0% |
| Transfer to deferred taxes | 680 | €9,875 | - | -€9,875 | |
| Income taxes | 67/77 | €71,844 | €84,000 | +€12,156 | +16.9% |
| Taxes | 670/3 | €71,844 | €84,000 | +€12,156 | +16.9% |
| Profit (loss) for the period | 9904 | €137,609 | €137,568 | -€41 | 0.0% |
| Transfer from tax-exempt reserves | 789 | €65,221 | €65,221 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €29,625 | - | -€29,625 | |
| Profit (loss) for the period to be appropriated | 9905 | €173,205 | €202,788 | +€29,584 | +17.1% |
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 24 October 2026 via checked.be.