INTERNATIONAL TRADE DEVELOPMENT: 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 TRADE DEVELOPMENT
Largest movements
- Cash +€97,707
up €97,707 (+36.3%), from €269,245 to €366,952
mainly Net result for the year (+€244,593) and Trade debts (+€8,929)
- Receivables within one year +€69,611
up €69,611 (+6.4%), from €1.1m to €1.2m
of which Other amounts receivable: +€45,444
- Profit (loss) carried forward +€244,593
up €244,593 (+15.0%), from €1.6m to €1.9m
- Tax, wage and social debts -€83,474
down €83,474 (-79.0%), from €105,727 to €22,253
of which Taxes: -€73,380
- Gross operating margin -€110,619
down €110,619 (-19.0%), from €581,201 to €470,582
- Taxes -€31,937
down €31,937 (-27.5%), from €116,008 to €84,070
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 | €2,106,681 | €2,277,107 | +€170,426 | +8.1% |
| Fixed assets | 21/28 | €8,133 | €7,808 | -€325 | -4.0% |
| Tangible fixed assets | 22/27 | €1,516 | €1,191 | -€325 | -21.4% |
| Land and buildings | 22 | €1,516 | €1,191 | -€325 | -21.4% |
| Financial fixed assets | 28 | €6,617 | €6,617 | = | 0.0% |
| Current assets | 29/58 | €2,098,548 | €2,269,299 | +€170,751 | +8.1% |
| Stocks and contracts in progress | 3 | €438,382 | €439,329 | +€947 | +0.2% |
| Stocks | 30/36 | €438,382 | €439,329 | +€947 | +0.2% |
| Amounts receivable within one year | 40/41 | €1,093,364 | €1,162,975 | +€69,611 | +6.4% |
| Trade receivables | 40 | €93,959 | €118,125 | +€24,166 | +25.7% |
| Other amounts receivable | 41 | €999,405 | €1,044,850 | +€45,444 | +4.5% |
| Current investments | 50/53 | €249,418 | €249,418 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €269,245 | €366,952 | +€97,707 | +36.3% |
| Deferred charges and accrued income | 490/1 | €48,139 | €50,625 | +€2,485 | +5.2% |
| Total equity and liabilities | 10/49 | €2,106,681 | €2,277,107 | +€170,426 | +8.1% |
| Equity | 10/15 | €1,940,422 | €2,185,015 | +€244,593 | +12.6% |
| Contributions | 10/11 | €223,104 | €223,104 | = | 0.0% |
| Reserves | 13 | €90,729 | €90,729 | = | 0.0% |
| Distributable reserves | 133 | €90,729 | €90,729 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,626,589 | €1,871,182 | +€244,593 | +15.0% |
| Amounts payable | 17/49 | €166,259 | €92,092 | -€74,167 | -44.6% |
| Amounts payable within one year | 42/48 | €166,259 | €91,704 | -€74,555 | -44.8% |
| Trade debts | 44 | €60,355 | €69,285 | +€8,929 | +14.8% |
| Suppliers | 440/4 | €60,355 | €69,285 | +€8,929 | +14.8% |
| Taxes, remuneration and social security | 45 | €105,727 | €22,253 | -€83,474 | -79.0% |
| Taxes | 450/3 | €95,552 | €22,173 | -€73,380 | -76.8% |
| Remuneration and social security | 454/9 | €10,174 | €80 | -€10,095 | -99.2% |
| Other amounts payable | 47/48 | €177 | €167 | -€10 | -5.6% |
| Accrued charges and deferred income | 492/3 | €0 | €388 | +€388 | |
| Non-recurring operating income | 76A | €834 | €28 | -€806 | -96.7% |
| Remuneration, social security and pensions | 62 | €173,724 | €178,178 | +€4,455 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,741 | €325 | -€5,416 | -94.3% |
| Other operating charges | 640/8 | €10,237 | €10,288 | +€51 | +0.5% |
| Gross operating margin | 9900 | €581,201 | €470,582 | -€110,619 | -19.0% |
| Operating profit (loss) | 9901 | €391,500 | €281,792 | -€109,709 | -28.0% |
| Financial income | 75/76B | €48,886 | €51,470 | +€2,584 | +5.3% |
| Recurring financial income | 75 | €48,886 | €51,470 | +€2,584 | +5.3% |
| Financial charges | 65/66B | €3,423 | €4,599 | +€1,175 | +34.3% |
| Recurring financial charges | 65 | €3,423 | €4,599 | +€1,175 | +34.3% |
| Profit (loss) for the period before taxes | 9903 | €436,963 | €328,663 | -€108,300 | -24.8% |
| Income taxes | 67/77 | €116,008 | €84,070 | -€31,937 | -27.5% |
| Profit (loss) for the period | 9904 | €320,955 | €244,593 | -€76,362 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €320,955 | €244,593 | -€76,362 | -23.8% |
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 17 October 2026 via checked.be.