GRAFICO: 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.
GRAFICO
Largest movements
- Receivables within one year -€35,541
down €35,541 (-27.3%), from €130,323 to €94,782
of which Trade receivables: -€35,252
- Stocks and contracts +€27,630
new in 2025: €27,630
- Tangible fixed assets -€15,087
down €15,087 (-9.8%), from €153,434 to €138,347
of which Land and buildings: -€55,102
- Cash -€14,417
down €14,417 (-29.6%), from €48,684 to €34,268
mainly Trade debts (-€29,990) and Stocks and contracts (-€27,630)
- Trade debts -€29,990
down €29,990 (-40.4%), from €74,305 to €44,316
- Profit (loss) carried forward -€23,375
down €23,375 (-69.0%), from -€33,868 to -€57,244
- Other debts +€15,176
up €15,176 (+19.7%), from €77,166 to €92,341
- Debts after one year -€13,867
down €13,867 (-26.0%), from €53,411 to €39,543
- Current portion of long-term debt +€6,418
up €6,418 (+45.0%), from €14,250 to €20,668
- Gross operating margin +€45,327
up €45,327 (+25.5%), from €177,681 to €223,008
- Staff costs +€28,463
up €28,463 (+19.8%), from €143,974 to €172,437
- Other operating charges +€15,072
up €15,072 (+81.4%), from €18,515 to €33,587
- Depreciation +€9,307
up €9,307 (+33.2%), from €28,053 to €37,360
- Financial charges -€4,905
down €4,905 (-59.4%), from €8,264 to €3,359
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 | €339,058 | €301,190 | -€37,868 | -11.2% |
| Fixed assets | 21/28 | €153,434 | €138,347 | -€15,087 | -9.8% |
| Tangible fixed assets | 22/27 | €153,434 | €138,347 | -€15,087 | -9.8% |
| Land and buildings | 22 | €55,102 | - | -€55,102 | |
| Plant, machinery and equipment | 23 | €6,152 | €3,995 | -€2,157 | -35.1% |
| Furniture and vehicles | 24 | €92,181 | €85,023 | -€7,158 | -7.8% |
| Other tangible fixed assets | 26 | - | €49,329 | +€49,329 | |
| Current assets | 29/58 | €185,623 | €162,843 | -€22,780 | -12.3% |
| Stocks and contracts in progress | 3 | - | €27,630 | +€27,630 | |
| Stocks | 30/36 | - | €27,630 | +€27,630 | |
| Amounts receivable within one year | 40/41 | €130,323 | €94,782 | -€35,541 | -27.3% |
| Trade receivables | 40 | €120,120 | €84,867 | -€35,252 | -29.3% |
| Other amounts receivable | 41 | €10,203 | €9,915 | -€288 | -2.8% |
| Cash at bank and in hand | 54/58 | €48,684 | €34,268 | -€14,417 | -29.6% |
| Deferred charges and accrued income | 490/1 | €6,617 | €6,164 | -€453 | -6.8% |
| Total equity and liabilities | 10/49 | €339,058 | €301,190 | -€37,868 | -11.2% |
| Equity | 10/15 | €65,613 | €42,238 | -€23,375 | -35.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €37,481 | €37,481 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €31,281 | €31,281 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,868 | -€57,244 | -€23,375 | -69.0% |
| Amounts payable | 17/49 | €273,445 | €258,953 | -€14,492 | -5.3% |
| Amounts payable after more than one year | 17 | €53,411 | €39,543 | -€13,867 | -26.0% |
| Financial debts | 170/4 | €53,411 | €39,543 | -€13,867 | -26.0% |
| Amounts payable within one year | 42/48 | €218,285 | €212,909 | -€5,376 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €14,250 | €20,668 | +€6,418 | +45.0% |
| Trade debts | 44 | €74,305 | €44,316 | -€29,990 | -40.4% |
| Suppliers | 440/4 | €74,305 | €44,316 | -€29,990 | -40.4% |
| Taxes, remuneration and social security | 45 | €52,564 | €55,585 | +€3,020 | +5.7% |
| Taxes | 450/3 | €18,557 | €22,457 | +€3,901 | +21.0% |
| Remuneration and social security | 454/9 | €34,007 | €33,127 | -€880 | -2.6% |
| Other amounts payable | 47/48 | €77,166 | €92,341 | +€15,176 | +19.7% |
| Accrued charges and deferred income | 492/3 | €1,749 | €6,500 | +€4,751 | +271.7% |
| Remuneration, social security and pensions | 62 | €143,974 | €172,437 | +€28,463 | +19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,053 | €37,360 | +€9,307 | +33.2% |
| Other operating charges | 640/8 | €18,515 | €33,587 | +€15,072 | +81.4% |
| Non-recurring operating charges | 66A | €13,296 | - | -€13,296 | |
| Gross operating margin | 9900 | €177,681 | €223,008 | +€45,327 | +25.5% |
| Operating profit (loss) | 9901 | -€26,157 | -€20,375 | +€5,782 | +22.1% |
| Financial income | 75/76B | €849 | €647 | -€202 | -23.8% |
| Recurring financial income | 75 | €849 | €647 | -€202 | -23.8% |
| Financial charges | 65/66B | €8,264 | €3,359 | -€4,905 | -59.4% |
| Recurring financial charges | 65 | €8,264 | €3,359 | -€4,905 | -59.4% |
| Profit (loss) for the period before taxes | 9903 | -€33,572 | -€23,087 | +€10,485 | +31.2% |
| Income taxes | 67/77 | €297 | €288 | -€8 | -2.8% |
| Profit (loss) for the period | 9904 | -€33,868 | -€23,375 | +€10,493 | +31.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,868 | -€23,375 | +€10,493 | +31.0% |
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 10 October 2026 via checked.be.