G & R: 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.
G & R
Largest movements
- Cash -€12,139
down €12,139 (-18.0%), from €67,271 to €55,133
mainly Tax, wage and social debts (-€34,258) and Contributions, distributions and other (-€29,412)
- Tangible fixed assets -€10,580
down €10,580 (-25.4%), from €41,636 to €31,055
of which Furniture and vehicles: -€9,177
- Receivables within one year -€3,279
down €3,279 (-9.9%), from €33,234 to €29,955
- Tax, wage and social debts -€34,258
down €34,258 (-81.4%), from €42,078 to €7,820
of which Taxes: -€28,640
- Trade debts +€11,898
up €11,898 (+217.9%), from €5,459 to €17,357
- Reserves -€5,424
down €5,424 (-4.9%), from €111,169 to €105,746
- Other debts +€2,936
up €2,936 (+57.8%), from €5,084 to €8,021
- Gross operating margin -€21,806
down €21,806 (-32.1%), from €67,971 to €46,165
- Taxes -€5,137
down €5,137 (-34.7%), from €14,804 to €9,667
- Depreciation +€3,289
up €3,289 (+45.1%), from €7,291 to €10,580
- Other operating charges +€728
up €728 (+57.1%), from €1,274 to €2,002
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 | €166,001 | €139,944 | -€26,057 | -15.7% |
| Fixed assets | 21/28 | €41,636 | €31,055 | -€10,580 | -25.4% |
| Tangible fixed assets | 22/27 | €41,636 | €31,055 | -€10,580 | -25.4% |
| Plant, machinery and equipment | 23 | €2,940 | €1,536 | -€1,404 | -47.8% |
| Furniture and vehicles | 24 | €38,696 | €29,519 | -€9,177 | -23.7% |
| Current assets | 29/58 | €124,366 | €108,889 | -€15,477 | -12.4% |
| Amounts receivable within one year | 40/41 | €33,234 | €29,955 | -€3,279 | -9.9% |
| Trade receivables | 40 | €33,234 | €29,955 | -€3,279 | -9.9% |
| Current investments | 50/53 | €23,012 | €23,390 | +€378 | +1.6% |
| Cash at bank and in hand | 54/58 | €67,271 | €55,133 | -€12,139 | -18.0% |
| Deferred charges and accrued income | 490/1 | €848 | €411 | -€437 | -51.6% |
| Total equity and liabilities | 10/49 | €166,001 | €139,944 | -€26,057 | -15.7% |
| Equity | 10/15 | €112,169 | €106,746 | -€5,424 | -4.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €111,169 | €105,746 | -€5,424 | -4.9% |
| Distributable reserves | 133 | €111,169 | €105,746 | -€5,424 | -4.9% |
| Amounts payable | 17/49 | €53,832 | €33,198 | -€20,634 | -38.3% |
| Amounts payable within one year | 42/48 | €53,832 | €33,198 | -€20,634 | -38.3% |
| Trade debts | 44 | €5,459 | €17,357 | +€11,898 | +217.9% |
| Suppliers | 440/4 | €5,459 | €17,357 | +€11,898 | +217.9% |
| Advances received on contracts in progress | 46 | €1,210 | - | -€1,210 | |
| Taxes, remuneration and social security | 45 | €42,078 | €7,820 | -€34,258 | -81.4% |
| Taxes | 450/3 | €36,461 | €7,820 | -€28,640 | -78.6% |
| Remuneration and social security | 454/9 | €5,617 | - | -€5,617 | |
| Other amounts payable | 47/48 | €5,084 | €8,021 | +€2,936 | +57.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,291 | €10,580 | +€3,289 | +45.1% |
| Other operating charges | 640/8 | €1,274 | €2,002 | +€728 | +57.1% |
| Gross operating margin | 9900 | €67,971 | €46,165 | -€21,806 | -32.1% |
| Operating profit (loss) | 9901 | €59,405 | €33,583 | -€25,823 | -43.5% |
| Financial income | 75/76B | €5 | €290 | +€286 | +6187.4% |
| Recurring financial income | 75 | €5 | €290 | +€286 | +6187.4% |
| Financial charges | 65/66B | €159 | €218 | +€59 | +36.9% |
| Recurring financial charges | 65 | €159 | €218 | +€59 | +36.9% |
| Profit (loss) for the period before taxes | 9903 | €59,251 | €33,655 | -€25,596 | -43.2% |
| Income taxes | 67/77 | €14,804 | €9,667 | -€5,137 | -34.7% |
| Profit (loss) for the period | 9904 | €44,447 | €23,988 | -€20,459 | -46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,447 | €23,988 | -€20,459 | -46.0% |
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 7 October 2026 via checked.be.