GLOBAL DRIVERS CONCEPT: 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.
GLOBAL DRIVERS CONCEPT
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Receivables within one year -€131,583
down €131,583 (-38.4%), from €342,407 to €210,824
of which Trade receivables: -€141,213
- Cash -€83,652
down €83,652 (-43.1%), from €193,924 to €110,272
mainly Current investments (-€150,000) and Contributions, distributions and other (-€150,000)
- Trade debts -€47,968
down €47,968 (-31.2%), from €153,808 to €105,840
- Reserves -€28,174
down €28,174 (-7.8%), from €362,422 to €334,248
of which Distributable reserves: -€28,174
- Tax, wage and social debts +€6,096
up €6,096 (+39.3%), from €15,499 to €21,595
- Taxes -€14,845
down €14,845 (-26.8%), from €55,454 to €40,609
- Gross operating margin -€3,462
down €3,462 (-2.0%), from €171,783 to €168,321
- Write-downs +€2,475
new in 2025: €2,475
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 | €539,654 | €471,586 | -€68,068 | -12.6% |
| Fixed assets | 21/28 | €3,324 | €491 | -€2,833 | -85.2% |
| Tangible fixed assets | 22/27 | €3,269 | €436 | -€2,833 | -86.7% |
| Plant, machinery and equipment | 23 | €3,269 | €436 | -€2,833 | -86.7% |
| Financial fixed assets | 28 | €55 | €55 | = | 0.0% |
| Current assets | 29/58 | €536,331 | €471,096 | -€65,235 | -12.2% |
| Amounts receivable within one year | 40/41 | €342,407 | €210,824 | -€131,583 | -38.4% |
| Trade receivables | 40 | €342,407 | €201,194 | -€141,213 | -41.2% |
| Other amounts receivable | 41 | - | €9,630 | +€9,630 | |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €193,924 | €110,272 | -€83,652 | -43.1% |
| Total equity and liabilities | 10/49 | €539,654 | €471,586 | -€68,068 | -12.6% |
| Equity | 10/15 | €368,722 | €340,548 | -€28,174 | -7.6% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €362,422 | €334,248 | -€28,174 | -7.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €360,562 | €332,388 | -€28,174 | -7.8% |
| Amounts payable | 17/49 | €170,932 | €131,039 | -€39,893 | -23.3% |
| Amounts payable within one year | 42/48 | €170,932 | €129,399 | -€41,533 | -24.3% |
| Trade debts | 44 | €153,808 | €105,840 | -€47,968 | -31.2% |
| Suppliers | 440/4 | €153,808 | €105,840 | -€47,968 | -31.2% |
| Advances received on contracts in progress | 46 | €1,625 | - | -€1,625 | |
| Taxes, remuneration and social security | 45 | €15,499 | €21,595 | +€6,096 | +39.3% |
| Taxes | 450/3 | €15,499 | €21,595 | +€6,096 | +39.3% |
| Other amounts payable | 47/48 | - | €1,963 | +€1,963 | |
| Accrued charges and deferred income | 492/3 | - | €1,640 | +€1,640 | |
| Remuneration, social security and pensions | 62 | -€42 | - | +€42 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,833 | €2,833 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,475 | +€2,475 | |
| Other operating charges | 640/8 | - | €100 | +€100 | |
| Gross operating margin | 9900 | €171,783 | €168,321 | -€3,462 | -2.0% |
| Operating profit (loss) | 9901 | €168,992 | €162,913 | -€6,079 | -3.6% |
| Financial income | 75/76B | - | €794 | +€794 | |
| Recurring financial income | 75 | - | €794 | +€794 | |
| Financial charges | 65/66B | €1,249 | €1,273 | +€24 | +1.9% |
| Recurring financial charges | 65 | €1,249 | €1,273 | +€24 | +1.9% |
| Profit (loss) for the period before taxes | 9903 | €167,743 | €162,434 | -€5,309 | -3.2% |
| Income taxes | 67/77 | €55,454 | €40,609 | -€14,845 | -26.8% |
| Profit (loss) for the period | 9904 | €112,289 | €121,826 | +€9,536 | +8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €112,289 | €121,826 | +€9,536 | +8.5% |
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.