GENERAL PROCESS STEERING: 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 PROCESS STEERING
Largest movements
- Receivables within one year -€720,943
down €720,943 (-34.7%), from €2.1m to €1.4m
of which Other amounts receivable: -€508,854
- Current investments +€451,028
new in 2025: €451,028
- Cash -€269,817
down €269,817 (-48.1%), from €560,462 to €290,646
mainly Other debts (-€546,840) and Current investments (-€451,028)
- Tangible fixed assets -€78,549
down €78,549 (-12.5%), from €630,220 to €551,671
of which Land and buildings: -€46,050
- Other debts -€546,840
down €546,840 (-56.6%), from €966,840 to €420,000
- Trade debts +€114,242
up €114,242 (+73.1%), from €156,249 to €270,491
- Debts after one year -€112,996
down €112,996 (-9.3%), from €1.2m to €1.1m
- Tax, wage and social debts -€109,537
down €109,537 (-20.8%), from €526,178 to €416,641
of which Remuneration and social security: -€61,936
- Reserves +€85,107
up €85,107 (+46.2%), from €184,374 to €269,481
of which Distributable reserves: +€85,107
- Gross operating margin +€56,528
up €56,528 (+1.6%), from €3.5m to €3.5m
- Staff costs +€47,022
up €47,022 (+1.7%), from €2.7m to €2.7m
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 | €3,388,718 | €2,765,533 | -€623,185 | -18.4% |
| Fixed assets | 21/28 | €634,378 | €555,830 | -€78,549 | -12.4% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €630,220 | €551,671 | -€78,549 | -12.5% |
| Land and buildings | 22 | €445,340 | €399,291 | -€46,050 | -10.3% |
| Plant, machinery and equipment | 23 | €11,412 | €3,229 | -€8,183 | -71.7% |
| Furniture and vehicles | 24 | €165,253 | €142,991 | -€22,263 | -13.5% |
| Other tangible fixed assets | 26 | €8,214 | €6,161 | -€2,054 | -25.0% |
| Financial fixed assets | 28 | €4,158 | €4,158 | = | 0.0% |
| Current assets | 29/58 | €2,754,340 | €2,209,703 | -€544,637 | -19.8% |
| Stocks and contracts in progress | 3 | €111,903 | €97,939 | -€13,964 | -12.5% |
| Stocks | 30/36 | €111,903 | €97,939 | -€13,964 | -12.5% |
| Amounts receivable within one year | 40/41 | €2,074,864 | €1,353,921 | -€720,943 | -34.7% |
| Trade receivables | 40 | €845,885 | €633,795 | -€212,089 | -25.1% |
| Other amounts receivable | 41 | €1,228,979 | €720,125 | -€508,854 | -41.4% |
| Current investments | 50/53 | - | €451,028 | +€451,028 | |
| Cash at bank and in hand | 54/58 | €560,462 | €290,646 | -€269,817 | -48.1% |
| Deferred charges and accrued income | 490/1 | €7,111 | €16,170 | +€9,060 | +127.4% |
| Total equity and liabilities | 10/49 | €3,388,718 | €2,765,533 | -€623,185 | -18.4% |
| Equity | 10/15 | €259,374 | €344,481 | +€85,107 | +32.8% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €184,374 | €269,481 | +€85,107 | +46.2% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €139,374 | €224,481 | +€85,107 | +61.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,129,344 | €2,421,053 | -€708,292 | -22.6% |
| Amounts payable after more than one year | 17 | €1,219,479 | €1,106,483 | -€112,996 | -9.3% |
| Financial debts | 170/4 | €1,219,479 | €1,106,483 | -€112,996 | -9.3% |
| Amounts payable within one year | 42/48 | €1,893,507 | €1,295,324 | -€598,183 | -31.6% |
| Current portion of amounts payable after more than one year | 42 | €149,647 | €146,577 | -€3,071 | -2.1% |
| Financial debts | 43 | €94,593 | €41,615 | -€52,978 | -56.0% |
| Credit institutions | 430/8 | €94,593 | €41,615 | -€52,978 | -56.0% |
| Trade debts | 44 | €156,249 | €270,491 | +€114,242 | +73.1% |
| Suppliers | 440/4 | €156,249 | €270,491 | +€114,242 | +73.1% |
| Taxes, remuneration and social security | 45 | €526,178 | €416,641 | -€109,537 | -20.8% |
| Taxes | 450/3 | €170,431 | €122,830 | -€47,601 | -27.9% |
| Remuneration and social security | 454/9 | €355,747 | €293,811 | -€61,936 | -17.4% |
| Other amounts payable | 47/48 | €966,840 | €420,000 | -€546,840 | -56.6% |
| Accrued charges and deferred income | 492/3 | €16,358 | €19,245 | +€2,887 | +17.6% |
| Non-recurring operating income | 76A | €73,770 | €20,798 | -€52,971 | -71.8% |
| Remuneration, social security and pensions | 62 | €2,702,657 | €2,749,678 | +€47,022 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,764 | €135,895 | -€30,869 | -18.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,094 | €500 | -€594 | -54.3% |
| Other operating charges | 640/8 | €23,147 | €17,439 | -€5,708 | -24.7% |
| Non-recurring operating charges | 66A | - | €92 | +€92 | |
| Gross operating margin | 9900 | €3,475,639 | €3,532,167 | +€56,528 | +1.6% |
| Operating profit (loss) | 9901 | €581,977 | €628,562 | +€46,585 | +8.0% |
| Financial income | 75/76B | €2,761 | €11,959 | +€9,199 | +333.2% |
| Recurring financial income | 75 | €2,761 | €11,959 | +€9,199 | +333.2% |
| Financial charges | 65/66B | €59,731 | €91,214 | +€31,483 | +52.7% |
| Recurring financial charges | 65 | €59,731 | €91,214 | +€31,483 | +52.7% |
| Profit (loss) for the period before taxes | 9903 | €525,007 | €549,308 | +€24,301 | +4.6% |
| Income taxes | 67/77 | €45,621 | €44,201 | -€1,420 | -3.1% |
| Profit (loss) for the period | 9904 | €479,385 | €505,107 | +€25,721 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €479,385 | €505,107 | +€25,721 | +5.4% |
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 3 October 2026 via checked.be.