INSIGHT OUTSIDE: 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.
INSIGHT OUTSIDE
Largest movements
- Receivables within one year +€125,590
up €125,590 (+162%), from €77,460 to €203,050
of which Trade receivables: +€128,476
- Cash -€41,048
down €41,048 (-84.6%), from €48,499 to €7,451
mainly Receivables within one year (-€125,590) and Debts after one year (-€60,543)
- Tangible fixed assets -€39,507
down €39,507 (-8.3%), from €476,356 to €436,849
of which Land and buildings: -€24,418
- Debts after one year -€60,543
down €60,543 (-15.4%), from €393,765 to €333,222
- Tax, wage and social debts +€41,825
up €41,825 (+83.6%), from €50,027 to €91,853
of which Taxes: +€28,130
- Reserves +€39,489
up €39,489 (+77.9%), from €50,666 to €90,154
of which Distributable reserves: +€39,489
- Trade debts +€17,270
up €17,270 (+99.5%), from €17,349 to €34,619
- Profit (loss) carried forward +€9,609
up €9,609, from -€9,609 to €0
- Gross operating margin +€82,615
up €82,615 (+28.7%), from €288,037 to €370,652
- Taxes +€22,367
up €22,367 (+473%), from €4,729 to €27,096
- Staff costs +€17,205
up €17,205 (+8.4%), from €203,872 to €221,077
- Other operating charges -€15,215
down €15,215 (-72.0%), from €21,128 to €5,913
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 | €602,315 | €651,583 | +€49,267 | +8.2% |
| Fixed assets | 21/28 | €476,356 | €436,849 | -€39,507 | -8.3% |
| Tangible fixed assets | 22/27 | €476,356 | €436,849 | -€39,507 | -8.3% |
| Land and buildings | 22 | €393,995 | €369,577 | -€24,418 | -6.2% |
| Plant, machinery and equipment | 23 | €24,359 | €27,351 | +€2,992 | +12.3% |
| Furniture and vehicles | 24 | €58,002 | €39,920 | -€18,082 | -31.2% |
| Current assets | 29/58 | €125,959 | €214,734 | +€88,775 | +70.5% |
| Amounts receivable within one year | 40/41 | €77,460 | €203,050 | +€125,590 | +162% |
| Trade receivables | 40 | €69,303 | €197,779 | +€128,476 | +185% |
| Other amounts receivable | 41 | €8,157 | €5,271 | -€2,885 | -35.4% |
| Cash at bank and in hand | 54/58 | €48,499 | €7,451 | -€41,048 | -84.6% |
| Deferred charges and accrued income | 490/1 | €0 | €4,233 | +€4,233 | |
| Total equity and liabilities | 10/49 | €602,315 | €651,583 | +€49,267 | +8.2% |
| Equity | 10/15 | €53,457 | €102,554 | +€49,098 | +91.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €50,666 | €90,154 | +€39,489 | +77.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €48,806 | €88,294 | +€39,489 | +80.9% |
| Profit (loss) carried forward | 14 | -€9,609 | €0 | +€9,609 | |
| Amounts payable | 17/49 | €548,859 | €549,028 | +€170 | 0.0% |
| Amounts payable after more than one year | 17 | €393,765 | €333,222 | -€60,543 | -15.4% |
| Financial debts | 170/4 | €393,765 | €333,222 | -€60,543 | -15.4% |
| Amounts payable within one year | 42/48 | €155,094 | €215,674 | +€60,580 | +39.1% |
| Current portion of amounts payable after more than one year | 42 | €62,154 | €63,877 | +€1,723 | +2.8% |
| Trade debts | 44 | €17,349 | €34,619 | +€17,270 | +99.5% |
| Suppliers | 440/4 | €17,349 | €34,619 | +€17,270 | +99.5% |
| Taxes, remuneration and social security | 45 | €50,027 | €91,853 | +€41,825 | +83.6% |
| Taxes | 450/3 | €10,711 | €38,841 | +€28,130 | +263% |
| Remuneration and social security | 454/9 | €39,316 | €53,012 | +€13,696 | +34.8% |
| Other amounts payable | 47/48 | €25,564 | €25,326 | -€238 | -0.9% |
| Accrued charges and deferred income | 492/3 | - | €132 | +€132 | |
| Remuneration, social security and pensions | 62 | €203,872 | €221,077 | +€17,205 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,748 | €56,849 | +€3,100 | +5.8% |
| Other operating charges | 640/8 | €21,128 | €5,913 | -€15,215 | -72.0% |
| Non-recurring operating charges | 66A | €3,387 | €0 | -€3,387 | -100% |
| Gross operating margin | 9900 | €288,037 | €370,652 | +€82,615 | +28.7% |
| Operating profit (loss) | 9901 | €5,902 | €86,813 | +€80,911 | +1,371% |
| Financial income | 75/76B | €4 | €212 | +€209 | +5,501% |
| Recurring financial income | 75 | €4 | €212 | +€209 | +5,501% |
| Financial charges | 65/66B | €11,964 | €10,832 | -€1,132 | -9.5% |
| Recurring financial charges | 65 | €11,964 | €10,832 | -€1,132 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,058 | €76,194 | +€82,252 | |
| Income taxes | 67/77 | €4,729 | €27,096 | +€22,367 | +473% |
| Profit (loss) for the period | 9904 | -€10,787 | €49,098 | +€59,885 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,787 | €49,098 | +€59,885 |
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 15 October 2026 via checked.be.