La commandine: 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.
La commandine
Largest movements
- Cash -€18,448
down €18,448 (-54.2%), from €34,048 to €15,600
mainly Net result for the year (-€39,076) and Receivables within one year (-€6,611)
- Tangible fixed assets -€8,930
down €8,930 (-12.9%), from €69,322 to €60,392
of which Plant, machinery and equipment: -€8,841
- Receivables within one year +€6,611
up €6,611 (+54.1%), from €12,225 to €18,837
of which Other amounts receivable: +€3,740
- Intangible fixed assets -€4,751
down €4,751 (-14.7%), from €32,407 to €27,655
- Stocks and contracts +€4,535
up €4,535 (+69.3%), from €6,548 to €11,083
- Profit (loss) carried forward -€39,076
down €39,076 (-157.2%), from -€24,851 to -€63,927
- Trade debts +€27,106
up €27,106 (+331.4%), from €8,178 to €35,285
- Tax, wage and social debts -€4,082
down €4,082 (-11.8%), from €34,572 to €30,490
of which Taxes: -€7,416
- Investment grants -€2,857
down €2,857 (-80.9%), from €3,533 to €676
- Other debts +€2,741
up €2,741 (+1.9%), from €141,049 to €143,790
- Gross operating margin -€35,271
down €35,271 (-11.7%), from €302,430 to €267,159
- Staff costs +€11,719
up €11,719 (+4.5%), from €258,266 to €269,985
- Other operating charges +€8,186
up €8,186 (+130.1%), from €6,291 to €14,476
- Financial charges +€4,520
up €4,520 (+198.0%), from €2,283 to €6,804
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 | €168,681 | €152,513 | -€16,168 | -9.6% |
| Fixed assets | 21/28 | €112,937 | €101,356 | -€11,581 | -10.3% |
| Intangible fixed assets | 21 | €32,407 | €27,655 | -€4,751 | -14.7% |
| Tangible fixed assets | 22/27 | €69,322 | €60,392 | -€8,930 | -12.9% |
| Plant, machinery and equipment | 23 | €62,170 | €53,330 | -€8,841 | -14.2% |
| Furniture and vehicles | 24 | €7,152 | €7,062 | -€89 | -1.2% |
| Financial fixed assets | 28 | €11,208 | €13,308 | +€2,100 | +18.7% |
| Current assets | 29/58 | €55,744 | €51,157 | -€4,587 | -8.2% |
| Stocks and contracts in progress | 3 | €6,548 | €11,083 | +€4,535 | +69.3% |
| Stocks | 30/36 | €6,548 | €11,083 | +€4,535 | +69.3% |
| Amounts receivable within one year | 40/41 | €12,225 | €18,837 | +€6,611 | +54.1% |
| Trade receivables | 40 | €11,086 | €13,957 | +€2,871 | +25.9% |
| Other amounts receivable | 41 | €1,139 | €4,879 | +€3,740 | +328.4% |
| Cash at bank and in hand | 54/58 | €34,048 | €15,600 | -€18,448 | -54.2% |
| Deferred charges and accrued income | 490/1 | €2,922 | €5,637 | +€2,715 | +92.9% |
| Total equity and liabilities | 10/49 | €168,681 | €152,513 | -€16,168 | -9.6% |
| Equity | 10/15 | -€15,118 | -€57,051 | -€41,933 | -277.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,851 | -€63,927 | -€39,076 | -157.2% |
| Investment grants | 15 | €3,533 | €676 | -€2,857 | -80.9% |
| Amounts payable | 17/49 | €183,799 | €209,564 | +€25,765 | +14.0% |
| Amounts payable within one year | 42/48 | €183,799 | €209,564 | +€25,765 | +14.0% |
| Trade debts | 44 | €8,178 | €35,285 | +€27,106 | +331.4% |
| Suppliers | 440/4 | €8,178 | €35,285 | +€27,106 | +331.4% |
| Taxes, remuneration and social security | 45 | €34,572 | €30,490 | -€4,082 | -11.8% |
| Taxes | 450/3 | €7,567 | €151 | -€7,416 | -98.0% |
| Remuneration and social security | 454/9 | €27,005 | €30,339 | +€3,334 | +12.3% |
| Other amounts payable | 47/48 | €141,049 | €143,790 | +€2,741 | +1.9% |
| Remuneration, social security and pensions | 62 | €258,266 | €269,985 | +€11,719 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,324 | €17,230 | +€1,905 | +12.4% |
| Other operating charges | 640/8 | €6,291 | €14,476 | +€8,186 | +130.1% |
| Non-recurring operating charges | 66A | - | €628 | +€628 | |
| Gross operating margin | 9900 | €302,430 | €267,159 | -€35,271 | -11.7% |
| Operating profit (loss) | 9901 | €22,550 | -€35,159 | -€57,709 | |
| Financial income | 75/76B | €1,269 | €2,887 | +€1,618 | +127.5% |
| Recurring financial income | 75 | €1,269 | €2,887 | +€1,618 | +127.5% |
| Financial charges | 65/66B | €2,283 | €6,804 | +€4,520 | +198.0% |
| Recurring financial charges | 65 | €2,283 | €6,804 | +€4,520 | +198.0% |
| Profit (loss) for the period before taxes | 9903 | €21,536 | -€39,076 | -€60,612 | |
| Profit (loss) for the period | 9904 | €21,536 | -€39,076 | -€60,612 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,536 | -€39,076 | -€60,612 |
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 1 October 2026 via checked.be.