HIGH TIME: 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.
What changed
HIGH TIME
NACE 46.190, Agents in non-specialised wholesale trade
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1,373
2024 · -€29,908+€31,281
Equity
€129,882
2024 · €128,509+€1,373
Cash
€62,010
2024 · €48,792+€13,218
Balance sheet total
€2.3m
2024 · €2.4m-€13,047
Largest movements
Assets
- Tangible fixed assets -€46,344
down €46,344 (-2.3%), from €2.0m to €2.0m
of which Land and buildings: -€41,641
Equity and liabilities
- Short-term financial debts -€110,000
down €110,000 (-18.0%), from €610,000 to €500,000
- Current portion of long-term debt +€60,529
up €60,529 (+349.2%), from €17,331 to €77,861
- Debts after one year +€28,202
up €28,202 (+2.1%), from €1.4m to €1.4m
of which Financial debts: +€29,991
Income statement
- Gross operating margin +€72,063
up €72,063 (+87.6%), from €82,293 to €154,356
- Financial charges +€64,585
up €64,585 (+307.5%), from €21,002 to €85,587
- Depreciation -€23,516
down €23,516 (-30.4%), from €77,358 to €53,842
- Other operating charges -€2,414
down €2,414 (-14.7%), from €16,393 to €13,979
- Financial income -€2,129
down €2,129 (-83.4%), from €2,554 to €425
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.
Result 2024
-€29,908
Gross operating margin
+€72,063
Depreciation
+€23,516
Other operating charges
+€2,414
Financial income
-€2,129
Financial charges
-€64,585
Result 2025
€1,373
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.
From operations
+€42,484
Investment
-€7,997
Financing
-€21,269
Cash 2024
€48,792
From operations (derived)
+€42,484
Net result for the year
+€1,373
Depreciation
+€53,842
Stocks and contracts
-€14,542
Receivables within one year
-€4,775
Smaller working-capital items
-€72
Trade debts
+€12,047
Tax, wage and social debts
-€5,286
Other debts
-€19,638
Accrued charges and deferred income
+€19,537
Investment (derived)
-€7,997
Investment in fixed assets (net)
-€7,997
Financing
-€21,269
Debts after one year
+€28,202
Current portion of long-term debt
+€60,529
Short-term financial debts
-€110,000
Cash 2025
€62,010
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,355,614 | €2,342,567 | -€13,047 | -0.6% |
| Fixed assets | 21/28 | €2,043,703 | €1,997,859 | -€45,844 | -2.2% |
| Tangible fixed assets | 22/27 | €2,043,703 | €1,997,359 | -€46,344 | -2.3% |
| Land and buildings | 22 | €2,032,029 | €1,990,387 | -€41,641 | -2.0% |
| Plant, machinery and equipment | 23 | €9,519 | €5,753 | -€3,766 | -39.6% |
| Furniture and vehicles | 24 | €1,143 | €672 | -€471 | -41.2% |
| Other tangible fixed assets | 26 | €1,012 | €546 | -€466 | -46.0% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €311,911 | €344,709 | +€32,797 | +10.5% |
| Stocks and contracts in progress | 3 | €258,935 | €273,477 | +€14,542 | +5.6% |
| Stocks | 30/36 | €258,935 | €273,477 | +€14,542 | +5.6% |
| Amounts receivable within one year | 40/41 | €3,163 | €7,938 | +€4,775 | +151.0% |
| Trade receivables | 40 | €3,163 | €1,938 | -€1,225 | -38.7% |
| Other amounts receivable | 41 | - | €6,000 | +€6,000 | |
| Cash at bank and in hand | 54/58 | €48,792 | €62,010 | +€13,218 | +27.1% |
| Deferred charges and accrued income | 490/1 | €1,021 | €1,283 | +€262 | +25.7% |
| Total equity and liabilities | 10/49 | €2,355,614 | €2,342,567 | -€13,047 | -0.6% |
| Equity | 10/15 | €128,509 | €129,882 | +€1,373 | +1.1% |
| Contributions | 10/11 | €48,600 | €48,600 | = | 0.0% |
| Reserves | 13 | €103,709 | €103,709 | = | 0.0% |
| Tax-exempt reserves | 132 | €199 | €199 | = | 0.0% |
| Distributable reserves | 133 | €103,511 | €103,511 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,801 | -€22,428 | +€1,373 | +5.8% |
| Amounts payable | 17/49 | €2,227,105 | €2,212,686 | -€14,420 | -0.6% |
| Amounts payable after more than one year | 17 | €1,372,755 | €1,400,957 | +€28,202 | +2.1% |
| Financial debts | 170/4 | €1,370,966 | €1,400,957 | +€29,991 | +2.2% |
| Other amounts payable | 178/9 | €1,789 | €0 | -€1,789 | -100.0% |
| Amounts payable within one year | 42/48 | €848,440 | €786,282 | -€62,158 | -7.3% |
| Current portion of amounts payable after more than one year | 42 | €17,331 | €77,861 | +€60,529 | +349.2% |
| Financial debts | 43 | €610,000 | €500,000 | -€110,000 | -18.0% |
| Credit institutions | 430/8 | €610,000 | €500,000 | -€110,000 | -18.0% |
| Trade debts | 44 | €5,790 | €17,837 | +€12,047 | +208.1% |
| Suppliers | 440/4 | €5,790 | €17,837 | +€12,047 | +208.1% |
| Advances received on contracts in progress | 46 | €200 | €390 | +€190 | +95.0% |
| Taxes, remuneration and social security | 45 | €14,897 | €9,610 | -€5,286 | -35.5% |
| Taxes | 450/3 | €14,897 | €9,610 | -€5,286 | -35.5% |
| Other amounts payable | 47/48 | €200,222 | €180,584 | -€19,638 | -9.8% |
| Accrued charges and deferred income | 492/3 | €5,910 | €25,447 | +€19,537 | +330.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,358 | €53,842 | -€23,516 | -30.4% |
| Other operating charges | 640/8 | €16,393 | €13,979 | -€2,414 | -14.7% |
| Gross operating margin | 9900 | €82,293 | €154,356 | +€72,063 | +87.6% |
| Operating profit (loss) | 9901 | -€11,459 | €86,535 | +€97,994 | |
| Financial income | 75/76B | €2,554 | €425 | -€2,129 | -83.4% |
| Recurring financial income | 75 | €2,554 | €425 | -€2,129 | -83.4% |
| Financial charges | 65/66B | €21,002 | €85,587 | +€64,585 | +307.5% |
| Recurring financial charges | 65 | €21,002 | €85,587 | +€64,585 | +307.5% |
| Profit (loss) for the period before taxes | 9903 | -€29,908 | €1,373 | +€31,281 | |
| Profit (loss) for the period | 9904 | -€29,908 | €1,373 | +€31,281 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,908 | €1,373 | +€31,281 |
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 9 October 2026 via checked.be.