Justified: 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.
Justified
Largest movements
- Cash +€126,291
up €126,291 (+70.2%), from €179,886 to €306,177
mainly Depreciation (+€252,696) and Net result for the year (+€131,929)
- Receivables within one year -€58,850
down €58,850 (-24.3%), from €242,427 to €183,576
of which Trade receivables: -€39,839
- Intangible fixed assets +€35,854
up €35,854 (+9.4%), from €382,340 to €418,194
- Reserves +€131,929
up €131,929 (+43.5%), from €303,331 to €435,259
of which Distributable reserves: +€131,929
- Tax, wage and social debts +€118,032
up €118,032 (+138%), from €85,616 to €203,648
of which Taxes: +€68,606
- Debts after one year -€50,808
down €50,808 (-27.0%), from €188,308 to €137,500
- Trade debts -€50,309
down €50,309 (-32.5%), from €154,807 to €104,499
- Current portion of long-term debt -€49,992
down €49,992 (-49.6%), from €100,800 to €50,808
- Gross operating margin +€413,587
up €413,587 (+57.2%), from €723,143 to €1.1m
- Staff costs +€196,457
up €196,457 (+39.9%), from €492,745 to €689,202
- Taxes +€48,978
up €48,978 (+1,545%), from €3,170 to €52,149
- Depreciation +€39,369
up €39,369 (+18.5%), from €213,327 to €252,696
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 | €851,461 | €950,314 | +€98,852 | +11.6% |
| Fixed assets | 21/28 | €411,424 | €445,018 | +€33,595 | +8.2% |
| Intangible fixed assets | 21 | €382,340 | €418,194 | +€35,854 | +9.4% |
| Tangible fixed assets | 22/27 | €12,584 | €10,324 | -€2,260 | -18.0% |
| Plant, machinery and equipment | 23 | €2,945 | €1,880 | -€1,064 | -36.1% |
| Furniture and vehicles | 24 | €9,639 | €5,713 | -€3,926 | -40.7% |
| Other tangible fixed assets | 26 | - | €2,731 | +€2,731 | |
| Financial fixed assets | 28 | €16,500 | €16,500 | = | 0.0% |
| Current assets | 29/58 | €440,038 | €505,295 | +€65,258 | +14.8% |
| Amounts receivable within one year | 40/41 | €242,427 | €183,576 | -€58,850 | -24.3% |
| Trade receivables | 40 | €194,592 | €154,753 | -€39,839 | -20.5% |
| Other amounts receivable | 41 | €47,835 | €28,824 | -€19,011 | -39.7% |
| Cash at bank and in hand | 54/58 | €179,886 | €306,177 | +€126,291 | +70.2% |
| Deferred charges and accrued income | 490/1 | €17,725 | €15,542 | -€2,183 | -12.3% |
| Total equity and liabilities | 10/49 | €851,461 | €950,314 | +€98,852 | +11.6% |
| Equity | 10/15 | €321,931 | €453,859 | +€131,929 | +41.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €303,331 | €435,259 | +€131,929 | +43.5% |
| Non-distributable reserves | 130/1 | €992 | €992 | = | 0.0% |
| Reserves not available under the articles | 1311 | €992 | €992 | = | 0.0% |
| Distributable reserves | 133 | €302,339 | €434,268 | +€131,929 | +43.6% |
| Amounts payable | 17/49 | €529,531 | €496,454 | -€33,076 | -6.2% |
| Amounts payable after more than one year | 17 | €188,308 | €137,500 | -€50,808 | -27.0% |
| Financial debts | 170/4 | €188,308 | €137,500 | -€50,808 | -27.0% |
| Amounts payable within one year | 42/48 | €341,223 | €358,954 | +€17,732 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €100,800 | €50,808 | -€49,992 | -49.6% |
| Trade debts | 44 | €154,807 | €104,499 | -€50,309 | -32.5% |
| Suppliers | 440/4 | €154,807 | €104,499 | -€50,309 | -32.5% |
| Taxes, remuneration and social security | 45 | €85,616 | €203,648 | +€118,032 | +138% |
| Taxes | 450/3 | €28,477 | €97,083 | +€68,606 | +241% |
| Remuneration and social security | 454/9 | €57,139 | €106,565 | +€49,426 | +86.5% |
| Remuneration, social security and pensions | 62 | €492,745 | €689,202 | +€196,457 | +39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213,327 | €252,696 | +€39,369 | +18.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,586 | - | -€3,586 | |
| Other operating charges | 640/8 | €2,215 | €3,869 | +€1,654 | +74.7% |
| Gross operating margin | 9900 | €723,143 | €1,136,729 | +€413,587 | +57.2% |
| Operating profit (loss) | 9901 | €11,269 | €190,962 | +€179,692 | +1,595% |
| Financial income | 75/76B | €115 | €1,008 | +€893 | +777% |
| Recurring financial income | 75 | €115 | €1,008 | +€893 | +777% |
| Financial charges | 65/66B | €7,052 | €7,892 | +€840 | +11.9% |
| Recurring financial charges | 65 | €7,052 | €7,892 | +€840 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €4,332 | €184,077 | +€179,745 | +4,149% |
| Income taxes | 67/77 | €3,170 | €52,149 | +€48,978 | +1,545% |
| Profit (loss) for the period | 9904 | €1,162 | €131,929 | +€130,767 | +11,253% |
| Profit (loss) for the period to be appropriated | 9905 | €1,162 | €131,929 | +€130,767 | +11,253% |
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 15 October 2026 via checked.be.