GENERAL BULK: 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.
GENERAL BULK
Largest movements
- Tangible fixed assets -€21,819
down €21,819 (-34.4%), from €63,489 to €41,670
of which Furniture and vehicles: -€19,858
- Cash +€20,618
up €20,618 (+5.3%), from €385,630 to €406,248
mainly Net result for the year (+€59,125) and Depreciation (+€19,858)
- Receivables within one year +€11,976
up €11,976 (+14.6%), from €81,865 to €93,841
of which Trade receivables: +€12,568
- Reserves +€59,125
up €59,125 (+14.8%), from €400,258 to €459,382
- Tax, wage and social debts -€26,452
down €26,452 (-39.0%), from €67,906 to €41,454
of which Taxes: -€22,258
- Trade debts -€13,453
down €13,453 (-65.0%), from €20,711 to €7,258
- Debts after one year -€7,000
down €7,000 (-54.5%), from €12,833 to €5,834
- Gross operating margin +€69,254
up €69,254 (+33.8%), from €204,644 to €273,898
- Staff costs -€7,050
down €7,050 (-3.7%), from €191,783 to €184,733
- Taxes +€5,892
up €5,892 (+3219.9%), from €183 to €6,075
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 | €550,141 | €557,874 | +€7,733 | +1.4% |
| Fixed assets | 21/28 | €66,048 | €42,319 | -€23,730 | -35.9% |
| Tangible fixed assets | 22/27 | €63,489 | €41,670 | -€21,819 | -34.4% |
| Plant, machinery and equipment | 23 | €21 | - | -€21 | |
| Furniture and vehicles | 24 | €61,527 | €41,670 | -€19,858 | -32.3% |
| Other tangible fixed assets | 26 | €1,940 | €0 | -€1,940 | -100.0% |
| Financial fixed assets | 28 | €2,560 | €649 | -€1,911 | -74.6% |
| Current assets | 29/58 | €484,092 | €515,555 | +€31,462 | +6.5% |
| Amounts receivable within one year | 40/41 | €81,865 | €93,841 | +€11,976 | +14.6% |
| Trade receivables | 40 | €81,070 | €93,638 | +€12,568 | +15.5% |
| Other amounts receivable | 41 | €795 | €203 | -€592 | -74.5% |
| Current investments | 50/53 | €14,000 | €14,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €385,630 | €406,248 | +€20,618 | +5.3% |
| Deferred charges and accrued income | 490/1 | €2,598 | €1,466 | -€1,132 | -43.6% |
| Total equity and liabilities | 10/49 | €550,141 | €557,874 | +€7,733 | +1.4% |
| Equity | 10/15 | €441,691 | €496,328 | +€54,638 | +12.4% |
| Contributions | 10/11 | €41,275 | €36,788 | -€4,487 | -10.9% |
| Outside capital | 11 | €41,275 | - | -€41,275 | |
| Other | 1109/19 | €41,275 | - | -€41,275 | |
| Reserves | 13 | €400,258 | €459,382 | +€59,125 | +14.8% |
| Distributable reserves | 133 | €400,258 | €459,382 | +€59,125 | +14.8% |
| Profit (loss) carried forward | 14 | €158 | €158 | = | 0.0% |
| Amounts payable | 17/49 | €108,450 | €61,545 | -€46,905 | -43.3% |
| Amounts payable after more than one year | 17 | €12,833 | €5,834 | -€7,000 | -54.5% |
| Financial debts | 170/4 | €12,833 | €5,834 | -€7,000 | -54.5% |
| Amounts payable within one year | 42/48 | €95,617 | €55,712 | -€39,905 | -41.7% |
| Current portion of amounts payable after more than one year | 42 | €7,000 | €7,000 | = | 0.0% |
| Trade debts | 44 | €20,711 | €7,258 | -€13,453 | -65.0% |
| Suppliers | 440/4 | €20,711 | €7,258 | -€13,453 | -65.0% |
| Taxes, remuneration and social security | 45 | €67,906 | €41,454 | -€26,452 | -39.0% |
| Taxes | 450/3 | €44,276 | €22,019 | -€22,258 | -50.3% |
| Remuneration and social security | 454/9 | €23,629 | €19,435 | -€4,194 | -17.7% |
| Remuneration, social security and pensions | 62 | €191,783 | €184,733 | -€7,050 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,719 | €19,858 | -€861 | -4.2% |
| Other operating charges | 640/8 | €1,589 | €4,064 | +€2,474 | +155.7% |
| Gross operating margin | 9900 | €204,644 | €273,898 | +€69,254 | +33.8% |
| Operating profit (loss) | 9901 | -€9,447 | €65,244 | +€74,691 | |
| Financial income | 75/76B | €11 | €1,175 | +€1,164 | +10690.4% |
| Recurring financial income | 75 | €11 | €1,175 | +€1,164 | +10690.4% |
| Financial charges | 65/66B | €1,481 | €1,219 | -€262 | -17.7% |
| Recurring financial charges | 65 | €1,481 | €1,219 | -€262 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | -€10,917 | €65,200 | +€76,117 | |
| Income taxes | 67/77 | €183 | €6,075 | +€5,892 | +3219.9% |
| Profit (loss) for the period | 9904 | -€11,100 | €59,125 | +€70,225 | |
| Profit (loss) for the period to be appropriated | 9905 | -€11,100 | €59,125 | +€70,225 |
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.