JUST LEVELS HIGHER: 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.
JUST LEVELS HIGHER
Largest movements
- Receivables within one year -€99,519
down €99,519 (-62.4%), from €159,525 to €60,006
of which Other amounts receivable: -€74,608
- Stocks and contracts +€27,150
up €27,150 (+111%), from €24,500 to €51,650
- Cash -€16,039
down €16,039 (-12.7%), from €126,085 to €110,047
mainly Other debts (-€98,988) and Contributions, distributions and other (-€50,000)
- Tangible fixed assets -€15,138
down €15,138 (-3.7%), from €404,111 to €388,973
of which Other tangible fixed assets: -€13,028
- Current investments +€12,000
up €12,000 (+75.5%), from €15,904 to €27,904
- Other debts -€98,988
down €98,988 (-93.0%), from €106,488 to €7,500
- Profit (loss) carried forward +€53,550
up €53,550 (+38.8%), from €137,849 to €191,398
- Debts after one year -€36,944
down €36,944 (-13.9%), from €265,296 to €228,352
- Tax, wage and social debts +€18,251
up €18,251 (+34.1%), from €53,544 to €71,795
- Current portion of long-term debt -€12,832
down €12,832 (-25.8%), from €49,776 to €36,944
- Gross operating margin -€8,441
down €8,441 (-4.2%), from €202,584 to €194,143
- Depreciation +€7,329
up €7,329 (+20.4%), from €35,957 to €43,286
- Other operating charges -€5,901
down €5,901 (-54.4%), from €10,842 to €4,941
- Taxes -€4,206
down €4,206 (-10.5%), from €39,897 to €35,691
- Financial charges -€2,684
down €2,684 (-27.1%), from €9,903 to €7,219
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €779,510 | €692,840 | -€86,670 | -11.1% |
| Fixed assets | 21/28 | €404,111 | €388,973 | -€15,138 | -3.7% |
| Tangible fixed assets | 22/27 | €404,111 | €388,973 | -€15,138 | -3.7% |
| Land and buildings | 22 | €239,792 | €229,650 | -€10,142 | -4.2% |
| Furniture and vehicles | 24 | €56,115 | €43,147 | -€12,968 | -23.1% |
| Other tangible fixed assets | 26 | €65,754 | €52,726 | -€13,028 | -19.8% |
| Assets under construction and advance payments | 27 | €42,450 | €63,450 | +€21,000 | +49.5% |
| Current assets | 29/58 | €375,400 | €303,867 | -€71,533 | -19.1% |
| Stocks and contracts in progress | 3 | €24,500 | €51,650 | +€27,150 | +111% |
| Stocks | 30/36 | €24,500 | €51,650 | +€27,150 | +111% |
| Amounts receivable within one year | 40/41 | €159,525 | €60,006 | -€99,519 | -62.4% |
| Trade receivables | 40 | €52,411 | €27,500 | -€24,911 | -47.5% |
| Other amounts receivable | 41 | €107,114 | €32,506 | -€74,608 | -69.7% |
| Current investments | 50/53 | €15,904 | €27,904 | +€12,000 | +75.5% |
| Cash at bank and in hand | 54/58 | €126,085 | €110,047 | -€16,039 | -12.7% |
| Deferred charges and accrued income | 490/1 | €49,386 | €54,261 | +€4,875 | +9.9% |
| Total equity and liabilities | 10/49 | €779,510 | €692,840 | -€86,670 | -11.1% |
| Equity | 10/15 | €241,549 | €295,098 | +€53,550 | +22.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €97,500 | €97,500 | = | 0.0% |
| Distributable reserves | 133 | €97,500 | €97,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,849 | €191,398 | +€53,550 | +38.8% |
| Amounts payable | 17/49 | €537,962 | €397,741 | -€140,220 | -26.1% |
| Amounts payable after more than one year | 17 | €265,296 | €228,352 | -€36,944 | -13.9% |
| Financial debts | 170/4 | €265,296 | €228,352 | -€36,944 | -13.9% |
| Amounts payable within one year | 42/48 | €272,666 | €169,389 | -€103,276 | -37.9% |
| Current portion of amounts payable after more than one year | 42 | €49,776 | €36,944 | -€12,832 | -25.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €62,858 | €53,151 | -€9,707 | -15.4% |
| Suppliers | 440/4 | €62,858 | €53,151 | -€9,707 | -15.4% |
| Taxes, remuneration and social security | 45 | €53,544 | €71,795 | +€18,251 | +34.1% |
| Taxes | 450/3 | €53,544 | €71,795 | +€18,251 | +34.1% |
| Other amounts payable | 47/48 | €106,488 | €7,500 | -€98,988 | -93.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,957 | €43,286 | +€7,329 | +20.4% |
| Other operating charges | 640/8 | €10,842 | €4,941 | -€5,901 | -54.4% |
| Gross operating margin | 9900 | €202,584 | €194,143 | -€8,441 | -4.2% |
| Operating profit (loss) | 9901 | €155,785 | €145,916 | -€9,869 | -6.3% |
| Financial income | 75/76B | €1,314 | €544 | -€770 | -58.6% |
| Recurring financial income | 75 | €1,314 | €544 | -€770 | -58.6% |
| Financial charges | 65/66B | €9,903 | €7,219 | -€2,684 | -27.1% |
| Recurring financial charges | 65 | €9,903 | €7,219 | -€2,684 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €147,196 | €139,241 | -€7,955 | -5.4% |
| Income taxes | 67/77 | €39,897 | €35,691 | -€4,206 | -10.5% |
| Profit (loss) for the period | 9904 | €107,299 | €103,550 | -€3,749 | -3.5% |
| Transfer from tax-exempt reserves | 789 | €0 | €50,000 | +€50,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €107,299 | €153,550 | +€46,251 | +43.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.