L'Object: 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.
L'Object
Largest movements
- Receivables within one year -€24,035
down €24,035 (-55.5%), from €43,281 to €19,246
of which Trade receivables: -€31,126
- Cash +€5,502
up €5,502 (+26.5%), from €20,770 to €26,272
mainly Receivables within one year (+€24,035) and Depreciation (+€8,368)
- Tangible fixed assets -€1,734
down €1,734 (-11.3%), from €15,369 to €13,635
of which Other tangible fixed assets: -€7,459
- Trade debts -€21,085
down €21,085 (-71.9%), from €29,332 to €8,247
- Reserves +€4,468
up €4,468 (+10.5%), from €42,687 to €47,156
- Short-term financial debts -€3,104
down €3,104 (-15.7%), from €19,779 to €16,675
- Other debts +€2,666
up €2,666 (+11.3%), from €23,681 to €26,347
- Gross operating margin +€16,434
up €16,434 (+36.8%), from €44,679 to €61,113
- Staff costs +€13,501
up €13,501 (+57.1%), from €23,654 to €37,155
- Depreciation +€909
up €909 (+12.2%), from €7,459 to €8,368
- Taxes -€712
down €712 (-19.2%), from €3,703 to €2,991
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 | €154,722 | €136,235 | -€18,487 | -11.9% |
| Fixed assets | 21/28 | €15,619 | €13,885 | -€1,734 | -11.1% |
| Tangible fixed assets | 22/27 | €15,369 | €13,635 | -€1,734 | -11.3% |
| Furniture and vehicles | 24 | - | €5,725 | +€5,725 | |
| Other tangible fixed assets | 26 | €15,369 | €7,910 | -€7,459 | -48.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €139,103 | €122,350 | -€16,753 | -12.0% |
| Stocks and contracts in progress | 3 | €73,893 | €75,387 | +€1,494 | +2.0% |
| Stocks | 30/36 | €73,893 | €75,387 | +€1,494 | +2.0% |
| Amounts receivable within one year | 40/41 | €43,281 | €19,246 | -€24,035 | -55.5% |
| Trade receivables | 40 | €31,126 | €0 | -€31,126 | -100% |
| Other amounts receivable | 41 | €12,155 | €19,246 | +€7,091 | +58.3% |
| Cash at bank and in hand | 54/58 | €20,770 | €26,272 | +€5,502 | +26.5% |
| Deferred charges and accrued income | 490/1 | €1,159 | €1,446 | +€286 | +24.7% |
| Total equity and liabilities | 10/49 | €154,722 | €136,235 | -€18,487 | -11.9% |
| Equity | 10/15 | €61,287 | €65,756 | +€4,468 | +7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €42,687 | €47,156 | +€4,468 | +10.5% |
| Distributable reserves | 133 | €42,687 | €47,156 | +€4,468 | +10.5% |
| Amounts payable | 17/49 | €93,435 | €70,480 | -€22,955 | -24.6% |
| Amounts payable within one year | 42/48 | €93,348 | €70,417 | -€22,931 | -24.6% |
| Financial debts | 43 | €19,779 | €16,675 | -€3,104 | -15.7% |
| Credit institutions | 430/8 | €19,779 | €16,675 | -€3,104 | -15.7% |
| Trade debts | 44 | €29,332 | €8,247 | -€21,085 | -71.9% |
| Suppliers | 440/4 | €29,332 | €8,247 | -€21,085 | -71.9% |
| Taxes, remuneration and social security | 45 | €20,556 | €19,149 | -€1,408 | -6.8% |
| Taxes | 450/3 | €18,717 | €15,934 | -€2,783 | -14.9% |
| Remuneration and social security | 454/9 | €1,839 | €3,214 | +€1,375 | +74.8% |
| Other amounts payable | 47/48 | €23,681 | €26,347 | +€2,666 | +11.3% |
| Accrued charges and deferred income | 492/3 | €86 | €63 | -€24 | -27.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €23,654 | €37,155 | +€13,501 | +57.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,459 | €8,368 | +€909 | +12.2% |
| Other operating charges | 640/8 | €3,229 | €3,532 | +€303 | +9.4% |
| Gross operating margin | 9900 | €44,679 | €61,113 | +€16,434 | +36.8% |
| Operating profit (loss) | 9901 | €10,337 | €12,057 | +€1,720 | +16.6% |
| Financial income | 75/76B | €88 | €0 | -€88 | -100% |
| Recurring financial income | 75 | €88 | €0 | -€88 | -100% |
| Financial charges | 65/66B | €4,033 | €4,598 | +€565 | +14.0% |
| Recurring financial charges | 65 | €4,033 | €4,598 | +€565 | +14.0% |
| Profit (loss) for the period before taxes | 9903 | €6,392 | €7,460 | +€1,067 | +16.7% |
| Income taxes | 67/77 | €3,703 | €2,991 | -€712 | -19.2% |
| Profit (loss) for the period | 9904 | €2,689 | €4,468 | +€1,779 | +66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,689 | €4,468 | +€1,779 | +66.2% |
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.