GET YOUR MUG: 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.
GET YOUR MUG
Largest movements
- Receivables within one year -€17,972
down €17,972 (-20.6%), from €87,356 to €69,383
of which Other amounts receivable: -€19,873
- Cash -€6,110
down €6,110 (-26.8%), from €22,813 to €16,704
mainly Debts after one year (-€13,390) and Trade debts (-€12,910)
- Debts after one year -€13,390
down €13,390 (-46.6%), from €28,747 to €15,357
- Trade debts -€12,910
down €12,910 (-29.8%), from €43,281 to €30,371
- Reserves +€11,945
new in 2025: €11,945
- Tax, wage and social debts -€9,975
down €9,975 (-28.0%), from €35,639 to €25,664
of which Taxes: -€9,973
- Current portion of long-term debt -€1,760
down €1,760 (-6.9%), from €25,562 to €23,803
- Staff costs -€31,787
down €31,787 (-15.9%), from €199,318 to €167,531
- Gross operating margin -€29,329
down €29,329 (-12.3%), from €237,839 to €208,509
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €175,018 | €149,807 | -€25,211 | -14.4% |
| Fixed assets | 21/28 | €57,969 | €56,534 | -€1,435 | -2.5% |
| Tangible fixed assets | 22/27 | €4,441 | €3,006 | -€1,435 | -32.3% |
| Plant, machinery and equipment | 23 | €3,382 | €2,508 | -€875 | -25.9% |
| Furniture and vehicles | 24 | €1,059 | €499 | -€560 | -52.9% |
| Financial fixed assets | 28 | €53,528 | €53,528 | = | 0.0% |
| Current assets | 29/58 | €117,050 | €93,273 | -€23,777 | -20.3% |
| Stocks and contracts in progress | 3 | €6,625 | €5,847 | -€778 | -11.7% |
| Stocks | 30/36 | €6,625 | €5,847 | -€778 | -11.7% |
| Amounts receivable within one year | 40/41 | €87,356 | €69,383 | -€17,972 | -20.6% |
| Trade receivables | 40 | €36,840 | €38,741 | +€1,901 | +5.2% |
| Other amounts receivable | 41 | €50,515 | €30,642 | -€19,873 | -39.3% |
| Cash at bank and in hand | 54/58 | €22,813 | €16,704 | -€6,110 | -26.8% |
| Deferred charges and accrued income | 490/1 | €256 | €1,340 | +€1,084 | +423% |
| Total equity and liabilities | 10/49 | €175,018 | €149,807 | -€25,211 | -14.4% |
| Equity | 10/15 | €22,635 | €34,580 | +€11,945 | +52.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €11,945 | +€11,945 | |
| Distributable reserves | 133 | - | €11,945 | +€11,945 | |
| Profit (loss) carried forward | 14 | €4,035 | €4,035 | = | 0.0% |
| Amounts payable | 17/49 | €152,383 | €115,227 | -€37,156 | -24.4% |
| Amounts payable after more than one year | 17 | €28,747 | €15,357 | -€13,390 | -46.6% |
| Financial debts | 170/4 | €28,747 | €15,357 | -€13,390 | -46.6% |
| Amounts payable within one year | 42/48 | €123,249 | €99,870 | -€23,379 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €25,562 | €23,803 | -€1,760 | -6.9% |
| Trade debts | 44 | €43,281 | €30,371 | -€12,910 | -29.8% |
| Suppliers | 440/4 | €43,281 | €30,371 | -€12,910 | -29.8% |
| Taxes, remuneration and social security | 45 | €35,639 | €25,664 | -€9,975 | -28.0% |
| Taxes | 450/3 | €15,389 | €5,417 | -€9,973 | -64.8% |
| Remuneration and social security | 454/9 | €20,250 | €20,248 | -€2 | 0.0% |
| Other amounts payable | 47/48 | €18,766 | €20,032 | +€1,266 | +6.7% |
| Accrued charges and deferred income | 492/3 | €387 | - | -€387 | |
| Non-recurring operating income | 76A | €2,280 | €1,458 | -€822 | -36.0% |
| Remuneration, social security and pensions | 62 | €199,318 | €167,531 | -€31,787 | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,209 | €1,435 | +€226 | +18.7% |
| Other operating charges | 640/8 | €2,387 | €4,230 | +€1,843 | +77.2% |
| Non-recurring operating charges | 66A | €729 | €6,571 | +€5,841 | +801% |
| Gross operating margin | 9900 | €237,839 | €208,509 | -€29,329 | -12.3% |
| Operating profit (loss) | 9901 | €34,195 | €28,743 | -€5,452 | -15.9% |
| Financial income | 75/76B | €1,980 | €1,467 | -€513 | -25.9% |
| Recurring financial income | 75 | €1,980 | €1,467 | -€513 | -25.9% |
| Financial charges | 65/66B | €9,464 | €9,761 | +€297 | +3.1% |
| Recurring financial charges | 65 | €9,464 | €9,761 | +€297 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €26,711 | €20,449 | -€6,262 | -23.4% |
| Income taxes | 67/77 | €10,335 | €8,504 | -€1,831 | -17.7% |
| Profit (loss) for the period | 9904 | €16,376 | €11,945 | -€4,431 | -27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,376 | €11,945 | -€4,431 | -27.1% |
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 25 October 2026 via checked.be.