HIGH PRODUCTION: 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.
HIGH PRODUCTION
Largest movements
- Cash +€341,192
up €341,192 (+133%), from €255,630 to €596,822
mainly Net result for the year (+€235,595) and Other debts (+€189,585)
- Receivables within one year -€153,908
down €153,908 (-30.6%), from €503,444 to €349,536
of which Trade receivables: -€127,356
- Stocks and contracts -€70,158
down €70,158 (-100%), from €70,158 to €0
- Current investments +€24,003
new in 2025: €24,003
- Tangible fixed assets -€23,405
down €23,405 (-18.6%), from €125,622 to €102,217
- Other debts +€189,585
up €189,585 (+286%), from €66,392 to €255,977
- Profit (loss) carried forward +€189,285
up €189,285 (+74.2%), from €255,183 to €444,468
- Reserves -€158,190
down €158,190 (-31.4%), from €504,500 to €346,310
of which Distributable reserves: -€204,500
- Trade debts -€87,640
down €87,640 (-33.1%), from €264,640 to €177,000
of which Suppliers: -€80,563
- Advances received -€66,868
down €66,868 (-91.8%), from €72,834 to €5,967
- Turnover +€2.7m
new in 2025: €2.7m
- Purchases and services +€1.9m
new in 2025: €1.9m
- Gross operating margin +€215,645
up €215,645 (+38.4%), from €562,297 to €777,943
- Staff costs +€64,327
up €64,327 (+19.7%), from €326,974 to €391,300
- Taxes +€27,157
up €27,157 (+50.4%), from €53,875 to €81,032
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.
Derived cash bridge
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 | €1,225,103 | €1,348,373 | +€123,270 | +10.1% |
| Fixed assets | 21/28 | €313,582 | €285,860 | -€27,723 | -8.8% |
| Intangible fixed assets | 21 | €7,974 | €3,656 | -€4,318 | -54.2% |
| Tangible fixed assets | 22/27 | €125,622 | €102,217 | -€23,405 | -18.6% |
| Plant, machinery and equipment | 23 | €30,872 | €24,810 | -€6,062 | -19.6% |
| Furniture and vehicles | 24 | €37,565 | €26,178 | -€11,387 | -30.3% |
| Other tangible fixed assets | 26 | €57,185 | €51,229 | -€5,956 | -10.4% |
| Financial fixed assets | 28 | €179,987 | €179,987 | = | 0.0% |
| Current assets | 29/58 | €911,521 | €1,062,513 | +€150,992 | +16.6% |
| Stocks and contracts in progress | 3 | €70,158 | €0 | -€70,158 | -100% |
| Contracts in progress | 37 | €70,158 | €0 | -€70,158 | -100% |
| Amounts receivable within one year | 40/41 | €503,444 | €349,536 | -€153,908 | -30.6% |
| Trade receivables | 40 | €379,721 | €252,365 | -€127,356 | -33.5% |
| Other amounts receivable | 41 | €123,724 | €97,171 | -€26,552 | -21.5% |
| Current investments | 50/53 | - | €24,003 | +€24,003 | |
| Cash at bank and in hand | 54/58 | €255,630 | €596,822 | +€341,192 | +133% |
| Deferred charges and accrued income | 490/1 | €82,289 | €92,152 | +€9,863 | +12.0% |
| Total equity and liabilities | 10/49 | €1,225,103 | €1,348,373 | +€123,270 | +10.1% |
| Equity | 10/15 | €765,883 | €796,978 | +€31,095 | +4.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €504,500 | €346,310 | -€158,190 | -31.4% |
| Tax-exempt reserves | 132 | - | €46,310 | +€46,310 | |
| Distributable reserves | 133 | €504,500 | €300,000 | -€204,500 | -40.5% |
| Profit (loss) carried forward | 14 | €255,183 | €444,468 | +€189,285 | +74.2% |
| Amounts payable | 17/49 | €459,221 | €551,395 | +€92,174 | +20.1% |
| Amounts payable within one year | 42/48 | €456,463 | €535,053 | +€78,590 | +17.2% |
| Trade debts | 44 | €264,640 | €177,000 | -€87,640 | -33.1% |
| Suppliers | 440/4 | €257,564 | €177,000 | -€80,563 | -31.3% |
| Bills of exchange payable | 441 | €7,077 | €0 | -€7,077 | -100% |
| Advances received on contracts in progress | 46 | €72,834 | €5,967 | -€66,868 | -91.8% |
| Taxes, remuneration and social security | 45 | €52,596 | €96,109 | +€43,513 | +82.7% |
| Taxes | 450/3 | €8,209 | €40,282 | +€32,073 | +391% |
| Remuneration and social security | 454/9 | €44,387 | €55,827 | +€11,440 | +25.8% |
| Other amounts payable | 47/48 | €66,392 | €255,977 | +€189,585 | +286% |
| Accrued charges and deferred income | 492/3 | €2,758 | €16,342 | +€13,585 | +493% |
| Turnover | 70 | - | €2,681,610 | +€2.7m | |
| Non-recurring operating income | 76A | - | €19,276 | +€19,276 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €1,900,126 | +€1.9m | |
| Remuneration, social security and pensions | 62 | €326,974 | €391,300 | +€64,327 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,821 | €32,575 | +€4,754 | +17.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,395 | €30,255 | +€14,860 | +96.5% |
| Other operating charges | 640/8 | €5,828 | €6,158 | +€330 | +5.7% |
| Non-recurring operating charges | 66A | €18 | €788 | +€770 | +4,201% |
| Gross operating margin | 9900 | €562,297 | €777,943 | +€215,645 | +38.4% |
| Operating profit (loss) | 9901 | €186,261 | €316,867 | +€130,605 | +70.1% |
| Financial income | 75/76B | €4,192 | €2,201 | -€1,991 | -47.5% |
| Recurring financial income | 75 | €4,192 | €2,201 | -€1,991 | -47.5% |
| Financial charges | 65/66B | €3,527 | €2,441 | -€1,086 | -30.8% |
| Recurring financial charges | 65 | €3,527 | €2,441 | -€1,086 | -30.8% |
| Profit (loss) for the period before taxes | 9903 | €186,927 | €316,627 | +€129,700 | +69.4% |
| Income taxes | 67/77 | €53,875 | €81,032 | +€27,157 | +50.4% |
| Profit (loss) for the period | 9904 | €133,052 | €235,595 | +€102,543 | +77.1% |
| Transfer to tax-exempt reserves | 689 | - | €46,310 | +€46,310 | |
| Profit (loss) for the period to be appropriated | 9905 | €133,052 | €189,285 | +€56,233 | +42.3% |
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 24 October 2026 via checked.be.