IN CONCRETO: 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
IN CONCRETO
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€355,496
2024 · €4.5m-€4.2m
Equity
€14.2m
2024 · €13.9m+€236,977
Cash
€487,799
2024 · €1.0m-€535,587
Balance sheet total
€14.6m
2024 · €14.4m+€289,962
Largest movements
Assets
- Current investments +€827,349
up €827,349 (+8.3%), from €10.0m to €10.8m
- Cash -€535,587
down €535,587 (-52.3%), from €1.0m to €487,799
mainly Current investments (-€827,349) and Contributions, distributions and other (-€118,519)
Equity and liabilities
- Profit (loss) carried forward +€267,296
new in 2025: €267,296
Income statement
- Financial income -€4.8m
down €4.8m (-94.9%), from €5.1m to €260,818
- Taxes -€353,870
down €353,870 (-77.4%), from €457,292 to €103,422
- Gross operating margin +€335,940
up €335,940, from -€16,838 to €319,102
- Financial charges +€28,825
up €28,825 (+236%), from €12,237 to €41,062
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
€4.5m
Gross operating margin
+€335,940
Depreciation
-€748
Other operating charges
-€1,451
Financial income
-€4.8m
Financial charges
-€28,825
Taxes
+€353,870
Result 2025
€355,496
raises the resultlowers the result
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.
From operations
+€410,281
Investment
-€827,349
Financing
-€118,519
Cash 2024
€1.0m
From operations (derived)
+€410,281
Net result for the year
+€355,496
Depreciation
+€65,584
Receivables within one year
-€71,592
Deferred charges and accrued income
+€7,807
Trade debts
-€11,316
Tax, wage and social debts
+€3,354
Other debts
+€40,926
Accrued charges and deferred income
+€20,021
Investment (derived)
-€827,349
Current investments
-€827,349
Financing
-€118,519
Contributions, distributions and other
-€118,519
Cash 2025
€487,799
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,353,941 | €14,643,903 | +€289,962 | +2.0% |
| Fixed assets | 21/28 | €2,299,753 | €2,234,169 | -€65,584 | -2.9% |
| Tangible fixed assets | 22/27 | €1,329,833 | €1,264,249 | -€65,584 | -4.9% |
| Land and buildings | 22 | €1,275,666 | €1,231,745 | -€43,921 | -3.4% |
| Plant, machinery and equipment | 23 | €2,566 | €2,273 | -€293 | -11.4% |
| Furniture and vehicles | 24 | €48,138 | €27,348 | -€20,790 | -43.2% |
| Other tangible fixed assets | 26 | €3,464 | €2,882 | -€582 | -16.8% |
| Financial fixed assets | 28 | €969,920 | €969,920 | = | 0.0% |
| Current assets | 29/58 | €12,054,187 | €12,409,734 | +€355,547 | +2.9% |
| Amounts receivable after more than one year | 29 | €1,000,000 | €1,000,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,666 | €82,257 | +€71,592 | +671% |
| Trade receivables | 40 | €9,540 | - | -€9,540 | |
| Other amounts receivable | 41 | €1,126 | €82,257 | +€81,132 | +7,208% |
| Current investments | 50/53 | €10,008,862 | €10,836,210 | +€827,349 | +8.3% |
| Cash at bank and in hand | 54/58 | €1,023,386 | €487,799 | -€535,587 | -52.3% |
| Deferred charges and accrued income | 490/1 | €11,275 | €3,468 | -€7,807 | -69.2% |
| Total equity and liabilities | 10/49 | €14,353,941 | €14,643,903 | +€289,962 | +2.0% |
| Equity | 10/15 | €13,929,722 | €14,166,699 | +€236,977 | +1.7% |
| Contributions | 10/11 | €5,016,000 | €5,016,000 | = | 0.0% |
| Reserves | 13 | €8,913,722 | €8,883,403 | -€30,319 | -0.3% |
| Tax-exempt reserves | 132 | €90,515 | €174,715 | +€84,200 | +93.0% |
| Distributable reserves | 133 | €8,823,207 | €8,708,688 | -€114,519 | -1.3% |
| Profit (loss) carried forward | 14 | - | €267,296 | +€267,296 | |
| Amounts payable | 17/49 | €424,218 | €477,204 | +€52,985 | +12.5% |
| Amounts payable within one year | 42/48 | €423,260 | €456,225 | +€32,964 | +7.8% |
| Trade debts | 44 | €14,122 | €2,806 | -€11,316 | -80.1% |
| Suppliers | 440/4 | €14,122 | €2,806 | -€11,316 | -80.1% |
| Taxes, remuneration and social security | 45 | €408,187 | €411,541 | +€3,354 | +0.8% |
| Taxes | 450/3 | €408,187 | €411,541 | +€3,354 | +0.8% |
| Other amounts payable | 47/48 | €951 | €41,877 | +€40,926 | +4,302% |
| Accrued charges and deferred income | 492/3 | €958 | €20,979 | +€20,021 | +2,090% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,836 | €65,584 | +€748 | +1.2% |
| Other operating charges | 640/8 | €12,905 | €14,355 | +€1,451 | +11.2% |
| Gross operating margin | 9900 | -€16,838 | €319,102 | +€335,940 | |
| Operating profit (loss) | 9901 | -€94,579 | €239,162 | +€333,741 | |
| Financial income | 75/76B | €5,109,607 | €260,818 | -€4.8m | -94.9% |
| Recurring financial income | 75 | €5,109,607 | €260,818 | -€4.8m | -94.9% |
| Financial charges | 65/66B | €12,237 | €41,062 | +€28,825 | +236% |
| Recurring financial charges | 65 | €12,237 | €41,062 | +€28,825 | +236% |
| Profit (loss) for the period before taxes | 9903 | €5,002,792 | €458,918 | -€4.5m | -90.8% |
| Income taxes | 67/77 | €457,292 | €103,422 | -€353,870 | -77.4% |
| Profit (loss) for the period | 9904 | €4,545,500 | €355,496 | -€4.2m | -92.2% |
| Transfer to tax-exempt reserves | 689 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,545,500 | €271,296 | -€4.3m | -94.0% |
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 23 October 2026 via checked.be.