IN SIGHT OUT: 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.
IN SIGHT OUT
Largest movements
- Tangible fixed assets -€38,351
down €38,351 (-11.6%), from €330,074 to €291,723
of which Land and buildings: -€31,741
- Stocks and contracts +€15,610
up €15,610 (+79.9%), from €19,540 to €35,150
of which Contracts in progress: +€15,500
- Receivables within one year +€14,514
up €14,514 (+20.7%), from €69,960 to €84,474
of which Other amounts receivable: +€15,354
- Cash +€6,953
up €6,953 (+24.2%), from €28,777 to €35,730
mainly Trade debts (+€44,689) and Depreciation (+€40,319)
- Trade debts +€44,689
up €44,689 (+134%), from €33,372 to €78,061
- Other debts -€29,287
down €29,287 (-50.4%), from €58,076 to €28,789
- Debts after one year -€24,552
down €24,552 (-18.3%), from €134,513 to €109,961
- Profit (loss) carried forward +€5,395
up €5,395 (+5.3%), from €101,191 to €106,586
- Gross operating margin -€49,181
down €49,181 (-29.7%), from €165,390 to €116,209
- Staff costs -€23,078
down €23,078 (-28.5%), from €80,905 to €57,827
- Taxes -€5,750
down €5,750 (-77.1%), from €7,456 to €1,706
- Financial charges +€1,826
up €1,826 (+35.1%), from €5,202 to €7,028
of which Non-recurring financial charges: +€2,188
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 | €448,351 | €447,077 | -€1,274 | -0.3% |
| Fixed assets | 21/28 | €330,074 | €291,723 | -€38,351 | -11.6% |
| Tangible fixed assets | 22/27 | €330,074 | €291,723 | -€38,351 | -11.6% |
| Land and buildings | 22 | €306,127 | €274,386 | -€31,741 | -10.4% |
| Plant, machinery and equipment | 23 | €4,911 | €4,081 | -€830 | -16.9% |
| Furniture and vehicles | 24 | €19,036 | €13,256 | -€5,780 | -30.4% |
| Current assets | 29/58 | €118,277 | €155,354 | +€37,077 | +31.3% |
| Stocks and contracts in progress | 3 | €19,540 | €35,150 | +€15,610 | +79.9% |
| Stocks | 30/36 | €2,090 | €2,200 | +€110 | +5.3% |
| Contracts in progress | 37 | €17,450 | €32,950 | +€15,500 | +88.8% |
| Amounts receivable within one year | 40/41 | €69,960 | €84,474 | +€14,514 | +20.7% |
| Trade receivables | 40 | €17,541 | €16,701 | -€840 | -4.8% |
| Other amounts receivable | 41 | €52,419 | €67,773 | +€15,354 | +29.3% |
| Cash at bank and in hand | 54/58 | €28,777 | €35,730 | +€6,953 | +24.2% |
| Total equity and liabilities | 10/49 | €448,351 | €447,077 | -€1,274 | -0.3% |
| Equity | 10/15 | €188,870 | €194,265 | +€5,395 | +2.9% |
| Contributions | 10/11 | €84,300 | €84,300 | = | 0.0% |
| Reserves | 13 | €3,379 | €3,379 | = | 0.0% |
| Distributable reserves | 133 | €3,379 | €3,379 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,191 | €106,586 | +€5,395 | +5.3% |
| Amounts payable | 17/49 | €259,481 | €252,812 | -€6,669 | -2.6% |
| Amounts payable after more than one year | 17 | €134,513 | €109,961 | -€24,552 | -18.3% |
| Financial debts | 170/4 | €134,513 | €109,961 | -€24,552 | -18.3% |
| Amounts payable within one year | 42/48 | €124,968 | €142,851 | +€17,883 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €24,070 | €24,552 | +€482 | +2.0% |
| Trade debts | 44 | €33,372 | €78,061 | +€44,689 | +134% |
| Suppliers | 440/4 | €33,372 | €78,061 | +€44,689 | +134% |
| Taxes, remuneration and social security | 45 | €9,450 | €11,449 | +€1,999 | +21.2% |
| Taxes | 450/3 | €9,450 | €9,162 | -€288 | -3.0% |
| Remuneration and social security | 454/9 | €0 | €2,287 | +€2,287 | |
| Other amounts payable | 47/48 | €58,076 | €28,789 | -€29,287 | -50.4% |
| Remuneration, social security and pensions | 62 | €80,905 | €57,827 | -€23,078 | -28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,061 | €40,319 | -€742 | -1.8% |
| Other operating charges | 640/8 | €8,686 | €7,479 | -€1,207 | -13.9% |
| Gross operating margin | 9900 | €165,390 | €116,209 | -€49,181 | -29.7% |
| Operating profit (loss) | 9901 | €34,738 | €10,584 | -€24,154 | -69.5% |
| Financial income | 75/76B | €4,162 | €3,545 | -€617 | -14.8% |
| Recurring financial income | 75 | €4,162 | €3,545 | -€617 | -14.8% |
| Financial charges | 65/66B | €5,202 | €7,028 | +€1,826 | +35.1% |
| Recurring financial charges | 65 | €3,857 | €3,495 | -€362 | -9.4% |
| Non-recurring financial charges | 66B | €1,345 | €3,533 | +€2,188 | +163% |
| Profit (loss) for the period before taxes | 9903 | €33,698 | €7,101 | -€26,597 | -78.9% |
| Income taxes | 67/77 | €7,456 | €1,706 | -€5,750 | -77.1% |
| Profit (loss) for the period | 9904 | €26,242 | €5,395 | -€20,847 | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,242 | €5,395 | -€20,847 | -79.4% |
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 13 October 2026 via checked.be.