Inside: what changed
Two fiscal 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.
Inside
Largest movements
- Cash -€294,995
down €294,995 (-73.9%), from €399,158 to €104,163
mainly Receivables within one year (-€248,882) and Advances received (-€179,000)
- Receivables within one year +€248,882
up €248,882 (+89.0%), from €279,775 to €528,657
of which Trade receivables: +€249,704
- Advances received -€179,000
down €179,000 (-63.5%), from €282,000 to €103,000
- Trade debts +€136,141
up €136,141 (+64.5%), from €210,993 to €347,134
- Profit (loss) carried forward -€26,795
down €26,795 (-13.3%), from -€200,751 to -€227,546
- Tax, wage and social debts +€26,541
up €26,541 (+51.9%), from €51,126 to €77,668
of which Remuneration and social security: +€17,483
- Write-downs -€190,804
down €190,804, from €88,202 to -€102,602
- Other operating charges +€112,204
up €112,204 (+540.8%), from €20,748 to €132,952
- Gross operating margin -€81,666
down €81,666 (-12.3%), from €663,771 to €582,104
- Staff costs +€31,803
up €31,803 (+6.0%), from €527,382 to €559,185
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €716,563 | €673,450 | -€43,113 | -6.0% |
| Fixed assets | 21/28 | €36,884 | €39,885 | +€3,000 | +8.1% |
| Intangible fixed assets | 21 | €8,679 | €7,143 | -€1,536 | -17.7% |
| Tangible fixed assets | 22/27 | €28,205 | €32,742 | +€4,536 | +16.1% |
| Furniture and vehicles | 24 | €26,793 | €32,742 | +€5,948 | +22.2% |
| Other tangible fixed assets | 26 | €1,412 | - | -€1,412 | |
| Current assets | 29/58 | €679,679 | €633,565 | -€46,113 | -6.8% |
| Amounts receivable within one year | 40/41 | €279,775 | €528,657 | +€248,882 | +89.0% |
| Trade receivables | 40 | €230,641 | €480,345 | +€249,704 | +108.3% |
| Other amounts receivable | 41 | €49,134 | €48,312 | -€822 | -1.7% |
| Cash at bank and in hand | 54/58 | €399,158 | €104,163 | -€294,995 | -73.9% |
| Deferred charges and accrued income | 490/1 | €746 | €746 | = | 0.0% |
| Total equity and liabilities | 10/49 | €716,563 | €673,450 | -€43,113 | -6.0% |
| Equity | 10/15 | €172,444 | €145,648 | -€26,795 | -15.5% |
| Contributions | 10/11 | €293,592 | €293,592 | = | 0.0% |
| Reserves | 13 | €79,602 | €79,602 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €40,243 | €40,243 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€200,751 | -€227,546 | -€26,795 | -13.3% |
| Amounts payable | 17/49 | €544,120 | €527,802 | -€16,318 | -3.0% |
| Amounts payable within one year | 42/48 | €544,120 | €527,802 | -€16,318 | -3.0% |
| Trade debts | 44 | €210,993 | €347,134 | +€136,141 | +64.5% |
| Suppliers | 440/4 | €210,993 | €347,134 | +€136,141 | +64.5% |
| Advances received on contracts in progress | 46 | €282,000 | €103,000 | -€179,000 | -63.5% |
| Taxes, remuneration and social security | 45 | €51,126 | €77,668 | +€26,541 | +51.9% |
| Taxes | 450/3 | - | €9,058 | +€9,058 | |
| Remuneration and social security | 454/9 | €51,126 | €68,610 | +€17,483 | +34.2% |
| Remuneration, social security and pensions | 62 | €527,382 | €559,185 | +€31,803 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,916 | €18,421 | -€1,495 | -7.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €88,202 | -€102,602 | -€190,804 | |
| Other operating charges | 640/8 | €20,748 | €132,952 | +€112,204 | +540.8% |
| Gross operating margin | 9900 | €663,771 | €582,104 | -€81,666 | -12.3% |
| Operating profit (loss) | 9901 | €7,522 | -€25,853 | -€33,375 | |
| Financial income | 75/76B | €61 | €2,694 | +€2,634 | +4336.7% |
| Recurring financial income | 75 | €61 | €2,694 | +€2,634 | +4336.7% |
| Financial charges | 65/66B | €4,487 | €3,637 | -€850 | -18.9% |
| Recurring financial charges | 65 | €4,487 | €3,637 | -€850 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €3,096 | -€26,795 | -€29,891 | |
| Income taxes | 67/77 | €1,515 | - | -€1,515 | |
| Profit (loss) for the period | 9904 | €1,581 | -€26,795 | -€28,376 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,581 | -€26,795 | -€28,376 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.