HET MOMENT: 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.
HET MOMENT
Largest movements
- Receivables within one year +€34,739
up €34,739 (+38.5%), from €90,275 to €125,014
of which Trade receivables: +€32,572
- Cash -€16,888
down €16,888 (-21.2%), from €79,703 to €62,815
mainly Receivables within one year (-€34,739) and Investment in fixed assets (net) (-€23,484)
- Stocks and contracts -€12,693
down €12,693 (-24.9%), from €51,029 to €38,336
- Financial fixed assets +€8,193
up €8,193 (+6.4%), from €128,532 to €136,725
- Tax, wage and social debts +€34,969
up €34,969 (+28.8%), from €121,518 to €156,487
of which Taxes: +€37,715
- Trade debts -€22,386
down €22,386 (-9.5%), from €234,975 to €212,589
- Staff costs -€33,047
down €33,047 (-2.7%), from €1.2m to €1.2m
- Financial charges +€26,512
up €26,512 (+2802.5%), from €946 to €27,458
- Other operating charges +€19,128
up €19,128 (+105.8%), from €18,075 to €37,203
- Gross operating margin +€17,372
up €17,372 (+1.4%), from €1.2m to €1.3m
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 | €388,741 | €398,191 | +€9,450 | +2.4% |
| Fixed assets | 21/28 | €167,734 | €172,026 | +€4,292 | +2.6% |
| Tangible fixed assets | 22/27 | €39,202 | €35,301 | -€3,901 | -10.0% |
| Plant, machinery and equipment | 23 | €39,202 | €35,301 | -€3,901 | -10.0% |
| Financial fixed assets | 28 | €128,532 | €136,725 | +€8,193 | +6.4% |
| Current assets | 29/58 | €221,007 | €226,165 | +€5,158 | +2.3% |
| Stocks and contracts in progress | 3 | €51,029 | €38,336 | -€12,693 | -24.9% |
| Stocks | 30/36 | €51,029 | €38,336 | -€12,693 | -24.9% |
| Amounts receivable within one year | 40/41 | €90,275 | €125,014 | +€34,739 | +38.5% |
| Trade receivables | 40 | €83,817 | €116,389 | +€32,572 | +38.9% |
| Other amounts receivable | 41 | €6,458 | €8,625 | +€2,167 | +33.6% |
| Cash at bank and in hand | 54/58 | €79,703 | €62,815 | -€16,888 | -21.2% |
| Total equity and liabilities | 10/49 | €388,741 | €398,191 | +€9,450 | +2.4% |
| Equity | 10/15 | €25,082 | €25,374 | +€292 | +1.2% |
| Contributions | 10/11 | €20,452 | €20,452 | = | 0.0% |
| Reserves | 13 | €304 | €304 | = | 0.0% |
| Tax-exempt reserves | 132 | €304 | €304 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,326 | €4,618 | +€292 | +6.7% |
| Amounts payable | 17/49 | €363,659 | €372,817 | +€9,158 | +2.5% |
| Amounts payable within one year | 42/48 | €363,659 | €372,817 | +€9,158 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €7,166 | €3,588 | -€3,578 | -49.9% |
| Trade debts | 44 | €234,975 | €212,589 | -€22,386 | -9.5% |
| Suppliers | 440/4 | €234,975 | €212,589 | -€22,386 | -9.5% |
| Taxes, remuneration and social security | 45 | €121,518 | €156,487 | +€34,969 | +28.8% |
| Taxes | 450/3 | €29,294 | €67,009 | +€37,715 | +128.7% |
| Remuneration and social security | 454/9 | €92,224 | €89,478 | -€2,746 | -3.0% |
| Other amounts payable | 47/48 | - | €153 | +€153 | |
| Remuneration, social security and pensions | 62 | €1,208,034 | €1,174,987 | -€33,047 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,060 | €19,192 | +€132 | +0.7% |
| Other operating charges | 640/8 | €18,075 | €37,203 | +€19,128 | +105.8% |
| Gross operating margin | 9900 | €1,246,866 | €1,264,238 | +€17,372 | +1.4% |
| Operating profit (loss) | 9901 | €1,697 | €32,856 | +€31,159 | +1836.1% |
| Financial charges | 65/66B | €946 | €27,458 | +€26,512 | +2802.5% |
| Recurring financial charges | 65 | €946 | €27,458 | +€26,512 | +2802.5% |
| Profit (loss) for the period before taxes | 9903 | €751 | €5,398 | +€4,647 | +618.8% |
| Income taxes | 67/77 | - | €5,106 | +€5,106 | |
| Profit (loss) for the period | 9904 | €751 | €292 | -€459 | -61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €751 | €292 | -€459 | -61.1% |
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.