La chaloupe d'or: 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.
La chaloupe d'or
Largest movements
- Receivables within one year +€438,931
up €438,931 (+84.3%), from €520,490 to €959,421
of which Other amounts receivable: +€390,283
- Cash -€233,214
down €233,214 (-53.0%), from €440,142 to €206,928
mainly Trade debts (-€835,288) and Receivables within one year (-€438,931)
- Trade debts -€835,288
down €835,288 (-76.4%), from €1.1m to €258,629
- Other debts +€652,865
up €652,865 (+2,225%), from €29,346 to €682,211
- Profit (loss) carried forward +€371,748
up €371,748, from -€327,670 to €44,078
- Tax, wage and social debts +€43,497
up €43,497 (+23.8%), from €182,940 to €226,436
of which Remuneration and social security: +€31,883
- Accrued charges and deferred income -€13,448
down €13,448 (-93.7%), from €14,354 to €906
- Gross operating margin +€635,283
up €635,283 (+58.2%), from €1.1m to €1.7m
- Staff costs +€241,639
up €241,639 (+22.4%), from €1.1m to €1.3m
- Financial income +€21,214
up €21,214 (+23,119%), from €92 to €21,306
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 | €1,005,976 | €1,220,621 | +€214,645 | +21.3% |
| Fixed assets | 21/28 | €8,601 | €5,875 | -€2,727 | -31.7% |
| Tangible fixed assets | 22/27 | €8,601 | €5,875 | -€2,727 | -31.7% |
| Plant, machinery and equipment | 23 | €2,434 | €1,107 | -€1,328 | -54.5% |
| Furniture and vehicles | 24 | €6,167 | €4,768 | -€1,399 | -22.7% |
| Current assets | 29/58 | €997,374 | €1,214,746 | +€217,372 | +21.8% |
| Stocks and contracts in progress | 3 | €31,646 | €42,157 | +€10,511 | +33.2% |
| Stocks | 30/36 | €31,646 | €42,157 | +€10,511 | +33.2% |
| Amounts receivable within one year | 40/41 | €520,490 | €959,421 | +€438,931 | +84.3% |
| Trade receivables | 40 | €114,910 | €163,558 | +€48,648 | +42.3% |
| Other amounts receivable | 41 | €405,580 | €795,863 | +€390,283 | +96.2% |
| Cash at bank and in hand | 54/58 | €440,142 | €206,928 | -€233,214 | -53.0% |
| Deferred charges and accrued income | 490/1 | €5,097 | €6,240 | +€1,144 | +22.4% |
| Total equity and liabilities | 10/49 | €1,005,976 | €1,220,621 | +€214,645 | +21.3% |
| Equity | 10/15 | -€319,610 | €52,138 | +€371,748 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€327,670 | €44,078 | +€371,748 | |
| Amounts payable | 17/49 | €1,325,586 | €1,168,483 | -€157,104 | -11.9% |
| Amounts payable within one year | 42/48 | €1,311,232 | €1,167,577 | -€143,656 | -11.0% |
| Trade debts | 44 | €1,093,917 | €258,629 | -€835,288 | -76.4% |
| Suppliers | 440/4 | €1,093,917 | €258,629 | -€835,288 | -76.4% |
| Advances received on contracts in progress | 46 | €5,030 | €300 | -€4,730 | -94.0% |
| Taxes, remuneration and social security | 45 | €182,940 | €226,436 | +€43,497 | +23.8% |
| Taxes | 450/3 | €43,446 | €55,059 | +€11,613 | +26.7% |
| Remuneration and social security | 454/9 | €139,494 | €171,377 | +€31,883 | +22.9% |
| Other amounts payable | 47/48 | €29,346 | €682,211 | +€652,865 | +2,225% |
| Accrued charges and deferred income | 492/3 | €14,354 | €906 | -€13,448 | -93.7% |
| Non-recurring operating income | 76A | - | €80 | +€80 | |
| Remuneration, social security and pensions | 62 | €1,078,952 | €1,320,592 | +€241,639 | +22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,098 | €2,727 | +€629 | +30.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€13,367 | -€3,277 | +€10,090 | +75.5% |
| Other operating charges | 640/8 | €5,198 | €10,202 | +€5,004 | +96.3% |
| Gross operating margin | 9900 | €1,091,279 | €1,726,563 | +€635,283 | +58.2% |
| Operating profit (loss) | 9901 | €18,398 | €396,320 | +€377,922 | +2,054% |
| Financial income | 75/76B | €92 | €21,306 | +€21,214 | +23,119% |
| Recurring financial income | 75 | €92 | €21,306 | +€21,214 | +23,119% |
| Financial charges | 65/66B | €35,802 | €45,877 | +€10,075 | +28.1% |
| Recurring financial charges | 65 | €35,802 | €45,877 | +€10,075 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | -€17,313 | €371,748 | +€389,061 | |
| Profit (loss) for the period | 9904 | -€17,313 | €371,748 | +€389,061 | |
| Transfer from tax-exempt reserves | 789 | €145,960 | €0 | -€145,960 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €128,647 | €371,748 | +€243,101 | +189% |
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 1 November 2026 via checked.be.