GROUND: 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.
GROUND
Largest movements
- Receivables within one year -€8,319
down €8,319 (-6.6%), from €125,195 to €116,877
of which Trade receivables: -€9,659
- Tangible fixed assets -€4,634
down €4,634 (-26.0%), from €17,809 to €13,175
- Other debts -€17,941
down €17,941 (-85.5%), from €20,979 to €3,038
- Reserves +€6,805
up €6,805 (+5.9%), from €115,811 to €122,616
of which Distributable reserves: +€6,805
- Tax, wage and social debts -€4,993
down €4,993 (-52.4%), from €9,529 to €4,536
of which Remuneration and social security: -€4,700
- Trade debts +€4,716
new in 2025: €4,716
- Gross operating margin -€1,884
down €1,884 (-5.6%), from €33,536 to €31,653
- Taxes -€1,655
down €1,655 (-19.4%), from €8,538 to €6,882
- Other operating charges +€751
up €751 (+160.1%), from €469 to €1,220
- Staff costs -€550
no longer reported in 2025 (was €550)
- Financial charges -€454
down €454 (-17.1%), from €2,659 to €2,205
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 | €161,357 | €149,951 | -€11,406 | -7.1% |
| Fixed assets | 21/28 | €17,809 | €13,175 | -€4,634 | -26.0% |
| Tangible fixed assets | 22/27 | €17,809 | €13,175 | -€4,634 | -26.0% |
| Other tangible fixed assets | 26 | €17,809 | €13,175 | -€4,634 | -26.0% |
| Current assets | 29/58 | €143,548 | €136,776 | -€6,772 | -4.7% |
| Amounts receivable within one year | 40/41 | €125,195 | €116,877 | -€8,319 | -6.6% |
| Trade receivables | 40 | €109,442 | €99,784 | -€9,659 | -8.8% |
| Other amounts receivable | 41 | €15,753 | €17,093 | +€1,340 | +8.5% |
| Cash at bank and in hand | 54/58 | €18,353 | €19,899 | +€1,547 | +8.4% |
| Total equity and liabilities | 10/49 | €161,357 | €149,951 | -€11,406 | -7.1% |
| Equity | 10/15 | €122,011 | €128,816 | +€6,805 | +5.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €115,811 | €122,616 | +€6,805 | +5.9% |
| 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 | €113,951 | €120,756 | +€6,805 | +6.0% |
| Amounts payable | 17/49 | €39,346 | €21,135 | -€18,210 | -46.3% |
| Amounts payable within one year | 42/48 | €39,346 | €21,135 | -€18,210 | -46.3% |
| Current portion of amounts payable after more than one year | 42 | €8,838 | €8,845 | +€7 | +0.1% |
| Trade debts | 44 | - | €4,716 | +€4,716 | |
| Suppliers | 440/4 | - | €4,716 | +€4,716 | |
| Taxes, remuneration and social security | 45 | €9,529 | €4,536 | -€4,993 | -52.4% |
| Taxes | 450/3 | €3,354 | €3,062 | -€293 | -8.7% |
| Remuneration and social security | 454/9 | €6,174 | €1,474 | -€4,700 | -76.1% |
| Other amounts payable | 47/48 | €20,979 | €3,038 | -€17,941 | -85.5% |
| Non-recurring operating income | 76A | €6,552 | - | -€6,552 | |
| Remuneration, social security and pensions | 62 | €550 | - | -€550 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,634 | €4,634 | +€0 | 0.0% |
| Other operating charges | 640/8 | €469 | €1,220 | +€751 | +160.1% |
| Non-recurring operating charges | 66A | €528 | - | -€528 | |
| Gross operating margin | 9900 | €33,536 | €31,653 | -€1,884 | -5.6% |
| Operating profit (loss) | 9901 | €27,356 | €25,799 | -€1,558 | -5.7% |
| Financial income | 75/76B | €48 | - | -€48 | |
| Recurring financial income | 75 | €48 | - | -€48 | |
| Financial charges | 65/66B | €2,659 | €2,205 | -€454 | -17.1% |
| Recurring financial charges | 65 | €2,659 | €2,205 | -€454 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €24,746 | €23,594 | -€1,152 | -4.7% |
| Income taxes | 67/77 | €8,538 | €6,882 | -€1,655 | -19.4% |
| Profit (loss) for the period | 9904 | €16,208 | €16,712 | +€504 | +3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,208 | €16,712 | +€504 | +3.1% |
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 6 October 2026 via checked.be.