INTERNI EDITION: 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.
INTERNI EDITION
Largest movements
- Receivables within one year +€14,575
up €14,575 (+53.7%), from €27,141 to €41,717
of which Trade receivables: +€36,715
- Tangible fixed assets -€12,183
down €12,183 (-18.3%), from €66,429 to €54,246
of which Furniture and vehicles: -€13,725
- Stocks and contracts -€8,534
down €8,534 (-9.5%), from €90,148 to €81,614
- Deferred charges and accrued income +€7,468
up €7,468 (+520.7%), from €1,434 to €8,902
- Profit (loss) carried forward +€80,951
up €80,951 (+424.5%), from €19,071 to €100,022
- Advances received -€42,633
no longer reported in 2025 (was €42,633)
- Accrued charges and deferred income -€19,488
no longer reported in 2025 (was €19,488)
- Other debts -€19,253
down €19,253 (-51.3%), from €37,499 to €18,246
- Trade debts +€18,015
up €18,015 (+51.5%), from €34,963 to €52,978
- Staff costs -€81,275
down €81,275 (-36.6%), from €222,249 to €140,974
- Gross operating margin +€79,330
up €79,330 (+47.7%), from €166,349 to €245,680
- Taxes +€11,766
up €11,766, from -€7,387 to €4,379
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 | €303,710 | €302,377 | -€1,333 | -0.4% |
| Fixed assets | 21/28 | €66,429 | €54,246 | -€12,183 | -18.3% |
| Tangible fixed assets | 22/27 | €66,429 | €54,246 | -€12,183 | -18.3% |
| Land and buildings | 22 | €34,612 | €36,594 | +€1,982 | +5.7% |
| Plant, machinery and equipment | 23 | €1,634 | €1,195 | -€439 | -26.9% |
| Furniture and vehicles | 24 | €30,183 | €16,457 | -€13,725 | -45.5% |
| Current assets | 29/58 | €237,281 | €248,131 | +€10,850 | +4.6% |
| Stocks and contracts in progress | 3 | €90,148 | €81,614 | -€8,534 | -9.5% |
| Stocks | 30/36 | €90,148 | €81,614 | -€8,534 | -9.5% |
| Amounts receivable within one year | 40/41 | €27,141 | €41,717 | +€14,575 | +53.7% |
| Trade receivables | 40 | €2,782 | €39,498 | +€36,715 | +1319.5% |
| Other amounts receivable | 41 | €24,359 | €2,219 | -€22,140 | -90.9% |
| Current investments | 50/53 | €116,502 | €113,754 | -€2,748 | -2.4% |
| Cash at bank and in hand | 54/58 | €2,055 | €2,143 | +€88 | +4.3% |
| Deferred charges and accrued income | 490/1 | €1,434 | €8,902 | +€7,468 | +520.7% |
| Total equity and liabilities | 10/49 | €303,710 | €302,377 | -€1,333 | -0.4% |
| Equity | 10/15 | €129,071 | €210,022 | +€80,951 | +62.7% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,071 | €100,022 | +€80,951 | +424.5% |
| Amounts payable | 17/49 | €174,639 | €92,355 | -€82,283 | -47.1% |
| Amounts payable after more than one year | 17 | €7,938 | €3,128 | -€4,810 | -60.6% |
| Financial debts | 170/4 | €7,938 | €3,128 | -€4,810 | -60.6% |
| Amounts payable within one year | 42/48 | €147,212 | €89,227 | -€57,985 | -39.4% |
| Current portion of amounts payable after more than one year | 42 | €14,742 | €5,189 | -€9,553 | -64.8% |
| Financial debts | 43 | €1,712 | - | -€1,712 | |
| Credit institutions | 430/8 | €1,712 | - | -€1,712 | |
| Trade debts | 44 | €34,963 | €52,978 | +€18,015 | +51.5% |
| Suppliers | 440/4 | €34,963 | €52,978 | +€18,015 | +51.5% |
| Advances received on contracts in progress | 46 | €42,633 | - | -€42,633 | |
| Taxes, remuneration and social security | 45 | €15,664 | €12,814 | -€2,849 | -18.2% |
| Taxes | 450/3 | €2,293 | €4,230 | +€1,937 | +84.5% |
| Remuneration and social security | 454/9 | €13,371 | €8,585 | -€4,786 | -35.8% |
| Other amounts payable | 47/48 | €37,499 | €18,246 | -€19,253 | -51.3% |
| Accrued charges and deferred income | 492/3 | €19,488 | - | -€19,488 | |
| Non-recurring operating income | 76A | €79,333 | - | -€79,333 | |
| Remuneration, social security and pensions | 62 | €222,249 | €140,974 | -€81,275 | -36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,498 | €10,137 | -€360 | -3.4% |
| Other operating charges | 640/8 | €18,570 | €17,438 | -€1,131 | -6.1% |
| Non-recurring operating charges | 66A | - | €225 | +€225 | |
| Gross operating margin | 9900 | €166,349 | €245,680 | +€79,330 | +47.7% |
| Operating profit (loss) | 9901 | -€84,967 | €76,906 | +€161,872 | |
| Financial income | 75/76B | €8,017 | €10,284 | +€2,267 | +28.3% |
| Recurring financial income | 75 | €8,017 | €10,284 | +€2,267 | +28.3% |
| Financial charges | 65/66B | €2,528 | €1,859 | -€669 | -26.5% |
| Recurring financial charges | 65 | €2,528 | €1,859 | -€669 | -26.5% |
| Profit (loss) for the period before taxes | 9903 | -€79,478 | €85,330 | +€164,808 | |
| Income taxes | 67/77 | -€7,387 | €4,379 | +€11,766 | |
| Profit (loss) for the period | 9904 | -€72,091 | €80,951 | +€153,042 | |
| Profit (loss) for the period to be appropriated | 9905 | -€72,091 | €80,951 | +€153,042 |
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 29 September 2026 via checked.be.