International Development & Sales: 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.
International Development & Sales
Largest movements
- Receivables within one year +€42,792
up €42,792 (+35.6%), from €120,280 to €163,072
of which Other amounts receivable: +€28,683
- Cash +€22,650
up €22,650 (+585%), from €3,869 to €26,518
mainly Net result for the year (+€67,525) and Other debts (+€67,525)
- Tangible fixed assets +€6,678
up €6,678 (+46.1%), from €14,472 to €21,150
of which Other tangible fixed assets: +€14,839
- Other debts +€67,525
new in 2025: €67,525
- Tax, wage and social debts +€22,858
up €22,858 (+55.3%), from €41,345 to €64,203
- Current portion of long-term debt -€7,763
down €7,763 (-63.1%), from €12,307 to €4,544
- Trade debts -€5,568
down €5,568 (-51.1%), from €10,904 to €5,336
- Debts after one year -€4,544
down €4,544 (-50.9%), from €8,928 to €4,384
- Gross operating margin +€12,024
up €12,024 (+12.9%), from €93,561 to €105,585
- Financial charges +€2,345
up €2,345 (+118%), from €1,996 to €4,341
- Other operating charges -€2,200
down €2,200 (-56.0%), from €3,929 to €1,728
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 | €140,475 | €212,984 | +€72,508 | +51.6% |
| Fixed assets | 21/28 | €14,472 | €21,150 | +€6,678 | +46.1% |
| Tangible fixed assets | 22/27 | €14,472 | €21,150 | +€6,678 | +46.1% |
| Plant, machinery and equipment | 23 | €4,091 | €2,832 | -€1,259 | -30.8% |
| Furniture and vehicles | 24 | €10,381 | €3,479 | -€6,902 | -66.5% |
| Other tangible fixed assets | 26 | - | €14,839 | +€14,839 | |
| Current assets | 29/58 | €126,004 | €191,834 | +€65,830 | +52.2% |
| Amounts receivable within one year | 40/41 | €120,280 | €163,072 | +€42,792 | +35.6% |
| Trade receivables | 40 | €9,437 | €23,546 | +€14,110 | +150% |
| Other amounts receivable | 41 | €110,843 | €139,526 | +€28,683 | +25.9% |
| Cash at bank and in hand | 54/58 | €3,869 | €26,518 | +€22,650 | +585% |
| Deferred charges and accrued income | 490/1 | €1,855 | €2,243 | +€388 | +20.9% |
| Total equity and liabilities | 10/49 | €140,475 | €212,984 | +€72,508 | +51.6% |
| Equity | 10/15 | €66,991 | €66,991 | = | 0.0% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Reserves | 13 | €57,691 | €57,691 | = | 0.0% |
| Distributable reserves | 133 | €57,691 | €57,691 | = | 0.0% |
| Amounts payable | 17/49 | €73,484 | €145,993 | +€72,508 | +98.7% |
| Amounts payable after more than one year | 17 | €8,928 | €4,384 | -€4,544 | -50.9% |
| Financial debts | 170/4 | €8,928 | €4,384 | -€4,544 | -50.9% |
| Amounts payable within one year | 42/48 | €64,556 | €141,608 | +€77,052 | +119% |
| Current portion of amounts payable after more than one year | 42 | €12,307 | €4,544 | -€7,763 | -63.1% |
| Trade debts | 44 | €10,904 | €5,336 | -€5,568 | -51.1% |
| Suppliers | 440/4 | €10,904 | €5,336 | -€5,568 | -51.1% |
| Taxes, remuneration and social security | 45 | €41,345 | €64,203 | +€22,858 | +55.3% |
| Taxes | 450/3 | €41,345 | €64,203 | +€22,858 | +55.3% |
| Other amounts payable | 47/48 | - | €67,525 | +€67,525 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,025 | €10,609 | +€584 | +5.8% |
| Other operating charges | 640/8 | €3,929 | €1,728 | -€2,200 | -56.0% |
| Gross operating margin | 9900 | €93,561 | €105,585 | +€12,024 | +12.9% |
| Operating profit (loss) | 9901 | €79,608 | €93,248 | +€13,640 | +17.1% |
| Financial income | 75/76B | €6,501 | €6,583 | +€82 | +1.3% |
| Recurring financial income | 75 | €6,501 | €6,583 | +€82 | +1.3% |
| Financial charges | 65/66B | €1,996 | €4,341 | +€2,345 | +118% |
| Recurring financial charges | 65 | €1,996 | €4,341 | +€2,345 | +118% |
| Profit (loss) for the period before taxes | 9903 | €84,113 | €95,490 | +€11,377 | +13.5% |
| Income taxes | 67/77 | €26,934 | €27,965 | +€1,031 | +3.8% |
| Profit (loss) for the period | 9904 | €57,179 | €67,525 | +€10,346 | +18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €57,179 | €67,525 | +€10,346 | +18.1% |
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 27 October 2026 via checked.be.