HOME PERSPECTIVE: 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.
HOME PERSPECTIVE
Largest movements
- Receivables within one year -€390,495
down €390,495 (-46.1%), from €847,773 to €457,278
of which Trade receivables: -€467,656
- Cash +€246,616
up €246,616 (+561%), from €43,948 to €290,564
mainly Receivables within one year (+€390,495) and Depreciation (+€133,844)
- Stocks and contracts -€46,000
down €46,000 (-36.0%), from €127,938 to €81,938
- Short-term financial debts -€100,299
down €100,299 (-24.2%), from €415,299 to €315,000
- Trade debts +€81,096
up €81,096 (+28.7%), from €282,644 to €363,740
- Tax, wage and social debts -€66,882
down €66,882 (-65.0%), from €102,917 to €36,035
of which Remuneration and social security: -€51,980
- Debts after one year -€53,163
down €53,163 (-14.3%), from €372,603 to €319,440
- Accrued charges and deferred income -€22,023
down €22,023 (-23.9%), from €92,065 to €70,042
- Staff costs +€138,991
up €138,991 (+12.1%), from €1.1m to €1.3m
- Provisions +€58,500
no longer reported in 2025 (was -€58,500)
- Taxes -€53,497
down €53,497, from €50,000 to -€3,497
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 | €1,667,580 | €1,446,103 | -€221,477 | -13.3% |
| Fixed assets | 21/28 | €409,476 | €392,940 | -€16,536 | -4.0% |
| Tangible fixed assets | 22/27 | €408,871 | €392,335 | -€16,536 | -4.0% |
| Furniture and vehicles | 24 | €37,166 | €38,086 | +€919 | +2.5% |
| Leasing and similar rights | 25 | €317,176 | €234,007 | -€83,169 | -26.2% |
| Other tangible fixed assets | 26 | €54,529 | €120,242 | +€65,714 | +121% |
| Financial fixed assets | 28 | €605 | €605 | = | 0.0% |
| Current assets | 29/58 | €1,258,104 | €1,053,163 | -€204,941 | -16.3% |
| Stocks and contracts in progress | 3 | €127,938 | €81,938 | -€46,000 | -36.0% |
| Stocks | 30/36 | €127,938 | €81,938 | -€46,000 | -36.0% |
| Amounts receivable within one year | 40/41 | €847,773 | €457,278 | -€390,495 | -46.1% |
| Trade receivables | 40 | €724,245 | €256,590 | -€467,656 | -64.6% |
| Other amounts receivable | 41 | €123,528 | €200,689 | +€77,161 | +62.5% |
| Cash at bank and in hand | 54/58 | €43,948 | €290,564 | +€246,616 | +561% |
| Deferred charges and accrued income | 490/1 | €238,445 | €223,382 | -€15,063 | -6.3% |
| Total equity and liabilities | 10/49 | €1,667,580 | €1,446,103 | -€221,477 | -13.3% |
| Equity | 10/15 | €300,994 | €269,384 | -€31,610 | -10.5% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €22,750 | €4,000 | -€18,750 | -82.4% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €0 | -€18,750 | -100% |
| Profit (loss) carried forward | 14 | €238,244 | €225,384 | -€12,860 | -5.4% |
| Amounts payable | 17/49 | €1,366,586 | €1,176,719 | -€189,866 | -13.9% |
| Amounts payable after more than one year | 17 | €372,603 | €319,440 | -€53,163 | -14.3% |
| Financial debts | 170/4 | €372,603 | €319,440 | -€53,163 | -14.3% |
| Amounts payable within one year | 42/48 | €901,918 | €787,237 | -€114,681 | -12.7% |
| Current portion of amounts payable after more than one year | 42 | €89,922 | €72,440 | -€17,483 | -19.4% |
| Financial debts | 43 | €415,299 | €315,000 | -€100,299 | -24.2% |
| Credit institutions | 430/8 | €415,299 | €315,000 | -€100,299 | -24.2% |
| Trade debts | 44 | €282,644 | €363,740 | +€81,096 | +28.7% |
| Suppliers | 440/4 | €282,644 | €363,740 | +€81,096 | +28.7% |
| Taxes, remuneration and social security | 45 | €102,917 | €36,035 | -€66,882 | -65.0% |
| Taxes | 450/3 | €15,000 | €98 | -€14,902 | -99.3% |
| Remuneration and social security | 454/9 | €87,917 | €35,937 | -€51,980 | -59.1% |
| Other amounts payable | 47/48 | €11,135 | €22 | -€11,113 | -99.8% |
| Accrued charges and deferred income | 492/3 | €92,065 | €70,042 | -€22,023 | -23.9% |
| Remuneration, social security and pensions | 62 | €1,146,367 | €1,285,358 | +€138,991 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,037 | €133,844 | +€12,807 | +10.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€58,500 | - | +€58,500 | |
| Other operating charges | 640/8 | €7,613 | €13,775 | +€6,162 | +80.9% |
| Gross operating margin | 9900 | €1,408,181 | €1,418,125 | +€9,944 | +0.7% |
| Operating profit (loss) | 9901 | €191,664 | -€14,851 | -€206,515 | |
| Financial income | 75/76B | €5,386 | €966 | -€4,420 | -82.1% |
| Recurring financial income | 75 | €5,386 | €966 | -€4,420 | -82.1% |
| Financial charges | 65/66B | €21,084 | €21,222 | +€138 | +0.7% |
| Recurring financial charges | 65 | €21,084 | €21,222 | +€138 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €175,966 | -€35,107 | -€211,073 | |
| Income taxes | 67/77 | €50,000 | -€3,497 | -€53,497 | |
| Profit (loss) for the period | 9904 | €125,966 | -€31,610 | -€157,577 | |
| Transfer from tax-exempt reserves | 789 | - | €18,750 | +€18,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €125,966 | -€12,860 | -€138,827 |
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 14 October 2026 via checked.be.