group Involved: 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.
group Involved
Largest movements
- Receivables within one year +€137,489
up €137,489 (+567.8%), from €24,214 to €161,703
of which Trade receivables: +€113,315
- Cash -€59,379
down €59,379 (-37.6%), from €157,838 to €98,458
mainly Receivables within one year (-€137,489) and Deferred charges and accrued income (-€14,322)
- Tangible fixed assets -€15,691
down €15,691 (-17.2%), from €91,357 to €75,666
- Deferred charges and accrued income +€14,322
up €14,322 (+83.9%), from €17,061 to €31,384
- Financial fixed assets -€9,210
down €9,210 (-56.8%), from €16,210 to €7,000
- Other debts +€50,470
up €50,470 (+1876.7%), from €2,689 to €53,160
- Tax, wage and social debts +€28,829
up €28,829 (+81.5%), from €35,358 to €64,187
of which Taxes: +€32,250
- Gross operating margin -€134,354
down €134,354 (-34.1%), from €393,600 to €259,246
- Taxes -€42,601
down €42,601 (-97.7%), from €43,590 to €989
- Staff costs +€11,617
up €11,617 (+4.8%), from €241,574 to €253,191
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 | €544,176 | €611,707 | +€67,530 | +12.4% |
| Fixed assets | 21/28 | €107,567 | €82,666 | -€24,901 | -23.1% |
| Tangible fixed assets | 22/27 | €91,357 | €75,666 | -€15,691 | -17.2% |
| Land and buildings | 22 | €57,855 | €50,635 | -€7,220 | -12.5% |
| Plant, machinery and equipment | 23 | €4,724 | €2,768 | -€1,957 | -41.4% |
| Furniture and vehicles | 24 | €28,778 | €22,264 | -€6,514 | -22.6% |
| Financial fixed assets | 28 | €16,210 | €7,000 | -€9,210 | -56.8% |
| Current assets | 29/58 | €436,609 | €529,041 | +€92,431 | +21.2% |
| Amounts receivable after more than one year | 29 | €237,496 | €237,496 | = | 0.0% |
| Other amounts receivable | 291 | €237,496 | €237,496 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €24,214 | €161,703 | +€137,489 | +567.8% |
| Trade receivables | 40 | €13,549 | €126,864 | +€113,315 | +836.3% |
| Other amounts receivable | 41 | €10,665 | €34,839 | +€24,174 | +226.7% |
| Cash at bank and in hand | 54/58 | €157,838 | €98,458 | -€59,379 | -37.6% |
| Deferred charges and accrued income | 490/1 | €17,061 | €31,384 | +€14,322 | +83.9% |
| Total equity and liabilities | 10/49 | €544,176 | €611,707 | +€67,530 | +12.4% |
| Equity | 10/15 | €389,705 | €379,948 | -€9,757 | -2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €371,105 | €366,906 | -€4,199 | -1.1% |
| Distributable reserves | 133 | €371,105 | €366,906 | -€4,199 | -1.1% |
| Profit (loss) carried forward | 14 | €0 | -€5,557 | -€5,557 | |
| Provisions and deferred taxes | 16 | €40,105 | €40,105 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €40,105 | €40,105 | = | 0.0% |
| Pensions and similar obligations | 160 | €40,105 | €40,105 | = | 0.0% |
| Amounts payable | 17/49 | €114,367 | €191,654 | +€77,287 | +67.6% |
| Amounts payable after more than one year | 17 | €67,760 | €64,236 | -€3,524 | -5.2% |
| Financial debts | 170/4 | €67,760 | €64,236 | -€3,524 | -5.2% |
| Amounts payable within one year | 42/48 | €45,926 | €127,417 | +€81,491 | +177.4% |
| Current portion of amounts payable after more than one year | 42 | €7,153 | €6,417 | -€735 | -10.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €726 | €3,653 | +€2,927 | +403.3% |
| Suppliers | 440/4 | €726 | €3,653 | +€2,927 | +403.3% |
| Taxes, remuneration and social security | 45 | €35,358 | €64,187 | +€28,829 | +81.5% |
| Taxes | 450/3 | €12,144 | €44,394 | +€32,250 | +265.6% |
| Remuneration and social security | 454/9 | €23,214 | €19,793 | -€3,421 | -14.7% |
| Other amounts payable | 47/48 | €2,689 | €53,160 | +€50,470 | +1876.7% |
| Accrued charges and deferred income | 492/3 | €680 | €0 | -€680 | -100.0% |
| Remuneration, social security and pensions | 62 | €241,574 | €253,191 | +€11,617 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,949 | €16,682 | -€2,267 | -12.0% |
| Other operating charges | 640/8 | €1,391 | €1,224 | -€167 | -12.0% |
| Gross operating margin | 9900 | €393,600 | €259,246 | -€134,354 | -34.1% |
| Operating profit (loss) | 9901 | €131,685 | -€11,851 | -€143,536 | |
| Financial income | 75/76B | €11,359 | €11,730 | +€370 | +3.3% |
| Recurring financial income | 75 | €11,359 | €11,730 | +€370 | +3.3% |
| Financial charges | 65/66B | €6,908 | €8,646 | +€1,738 | +25.2% |
| Recurring financial charges | 65 | €6,908 | €8,646 | +€1,738 | +25.2% |
| Profit (loss) for the period before taxes | 9903 | €136,137 | -€8,767 | -€144,904 | |
| Income taxes | 67/77 | €43,590 | €989 | -€42,601 | -97.7% |
| Profit (loss) for the period | 9904 | €92,547 | -€9,757 | -€102,303 | |
| Profit (loss) for the period to be appropriated | 9905 | €92,547 | -€9,757 | -€102,303 |
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.