GREEN BOX: 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.
GREEN BOX
Largest movements
- Tangible fixed assets -€36,743
down €36,743 (-18.2%), from €201,389 to €164,645
of which Land and buildings: -€19,978
- Cash +€35,227
up €35,227 (+114.6%), from €30,736 to €65,963
mainly Depreciation (+€42,188) and Receivables within one year (+€30,342)
- Receivables within one year -€30,342
down €30,342 (-37.0%), from €81,917 to €51,574
of which Trade receivables: -€24,913
- Intangible fixed assets +€5,758
new in 2025: €5,758
- Trade debts -€46,671
down €46,671 (-80.7%), from €57,829 to €11,158
- Other debts +€16,990
up €16,990 (+823.8%), from €2,062 to €19,052
- Debts after one year -€10,932
down €10,932 (-7.8%), from €140,244 to €129,312
- Tax, wage and social debts +€9,610
up €9,610 (+192.2%), from €4,999 to €14,609
of which Remuneration and social security: +€11,389
- Current portion of long-term debt +€7,436
up €7,436 (+29.0%), from €25,636 to €33,072
- Gross operating margin +€29,938
up €29,938 (+21.4%), from €139,664 to €169,601
- Staff costs +€19,066
up €19,066 (+25.6%), from €74,491 to €93,558
- Depreciation +€3,488
up €3,488 (+9.0%), from €38,700 to €42,188
- Taxes +€2,567
up €2,567 (+53.2%), from €4,828 to €7,394
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 | €318,823 | €292,907 | -€25,916 | -8.1% |
| Fixed assets | 21/28 | €201,637 | €170,651 | -€30,986 | -15.4% |
| Intangible fixed assets | 21 | - | €5,758 | +€5,758 | |
| Tangible fixed assets | 22/27 | €201,389 | €164,645 | -€36,743 | -18.2% |
| Land and buildings | 22 | €119,903 | €99,925 | -€19,978 | -16.7% |
| Plant, machinery and equipment | 23 | €25,682 | €22,276 | -€3,406 | -13.3% |
| Furniture and vehicles | 24 | €55,803 | €42,444 | -€13,359 | -23.9% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €117,186 | €122,256 | +€5,070 | +4.3% |
| Stocks and contracts in progress | 3 | €3,469 | €3,469 | = | 0.0% |
| Stocks | 30/36 | €3,469 | €3,469 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €81,917 | €51,574 | -€30,342 | -37.0% |
| Trade receivables | 40 | €62,922 | €38,009 | -€24,913 | -39.6% |
| Other amounts receivable | 41 | €18,995 | €13,565 | -€5,430 | -28.6% |
| Cash at bank and in hand | 54/58 | €30,736 | €65,963 | +€35,227 | +114.6% |
| Deferred charges and accrued income | 490/1 | €1,065 | €1,250 | +€186 | +17.4% |
| Total equity and liabilities | 10/49 | €318,823 | €292,907 | -€25,916 | -8.1% |
| Equity | 10/15 | €79,591 | €83,755 | +€4,164 | +5.2% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €64,591 | €68,755 | +€4,164 | +6.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,239 | €21,239 | = | 0.0% |
| Distributable reserves | 133 | €41,492 | €45,656 | +€4,164 | +10.0% |
| Amounts payable | 17/49 | €239,232 | €209,152 | -€30,080 | -12.6% |
| Amounts payable after more than one year | 17 | €140,244 | €129,312 | -€10,932 | -7.8% |
| Financial debts | 170/4 | €140,244 | €129,312 | -€10,932 | -7.8% |
| Amounts payable within one year | 42/48 | €93,051 | €77,891 | -€15,159 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €25,636 | €33,072 | +€7,436 | +29.0% |
| Financial debts | 43 | €2,523 | - | -€2,523 | |
| Credit institutions | 430/8 | €2,523 | - | -€2,523 | |
| Trade debts | 44 | €57,829 | €11,158 | -€46,671 | -80.7% |
| Suppliers | 440/4 | €57,829 | €11,158 | -€46,671 | -80.7% |
| Taxes, remuneration and social security | 45 | €4,999 | €14,609 | +€9,610 | +192.2% |
| Taxes | 450/3 | €2,895 | €1,115 | -€1,780 | -61.5% |
| Remuneration and social security | 454/9 | €2,104 | €13,494 | +€11,389 | +541.3% |
| Other amounts payable | 47/48 | €2,062 | €19,052 | +€16,990 | +823.8% |
| Accrued charges and deferred income | 492/3 | €5,938 | €1,949 | -€3,989 | -67.2% |
| Remuneration, social security and pensions | 62 | €74,491 | €93,558 | +€19,066 | +25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,700 | €42,188 | +€3,488 | +9.0% |
| Other operating charges | 640/8 | €7,604 | €7,928 | +€324 | +4.3% |
| Gross operating margin | 9900 | €139,664 | €169,601 | +€29,938 | +21.4% |
| Operating profit (loss) | 9901 | €18,869 | €25,928 | +€7,059 | +37.4% |
| Financial income | 75/76B | €53 | €1,199 | +€1,145 | +2141.8% |
| Recurring financial income | 75 | €53 | €1,199 | +€1,145 | +2141.8% |
| Financial charges | 65/66B | €8,691 | €7,961 | -€730 | -8.4% |
| Recurring financial charges | 65 | €8,691 | €7,961 | -€730 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €10,231 | €19,166 | +€8,935 | +87.3% |
| Income taxes | 67/77 | €4,828 | €7,394 | +€2,567 | +53.2% |
| Profit (loss) for the period | 9904 | €5,403 | €11,772 | +€6,368 | +117.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,403 | €11,772 | +€6,368 | +117.9% |
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 5 October 2026 via checked.be.