LA SIGNALISATION: 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 SIGNALISATION
Largest movements
- Tangible fixed assets +€27,942
up €27,942 (+50.8%), from €54,950 to €82,892
of which Furniture and vehicles: +€30,404
- Cash +€21,635
up €21,635 (+51.2%), from €42,258 to €63,893
mainly Depreciation (+€29,765) and Other debts (+€25,497)
- Stocks and contracts -€7,289
down €7,289 (-13.3%), from €54,915 to €47,626
- Other debts +€25,497
up €25,497 (+87.3%), from €29,196 to €54,692
- Debts after one year +€18,308
up €18,308 (+80.3%), from €22,787 to €41,095
- Trade debts -€9,613
down €9,613 (-16.3%), from €58,968 to €49,355
- Current portion of long-term debt +€5,490
up €5,490 (+52.8%), from €10,399 to €15,889
- Gross operating margin +€31,650
up €31,650 (+23.7%), from €133,647 to €165,297
- Depreciation +€15,862
up €15,862 (+114%), from €13,904 to €29,765
- Staff costs +€3,746
up €3,746 (+3.9%), from €96,588 to €100,334
- Taxes +€2,018
up €2,018 (+104%), from €1,943 to €3,961
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 | €208,934 | €250,147 | +€41,213 | +19.7% |
| Fixed assets | 21/28 | €55,088 | €82,942 | +€27,853 | +50.6% |
| Intangible fixed assets | 21 | €88 | €0 | -€88 | -100% |
| Tangible fixed assets | 22/27 | €54,950 | €82,892 | +€27,942 | +50.8% |
| Plant, machinery and equipment | 23 | €7,925 | €5,633 | -€2,292 | -28.9% |
| Furniture and vehicles | 24 | €46,796 | €77,200 | +€30,404 | +65.0% |
| Other tangible fixed assets | 26 | €229 | €59 | -€170 | -74.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €153,845 | €167,205 | +€13,360 | +8.7% |
| Stocks and contracts in progress | 3 | €54,915 | €47,626 | -€7,289 | -13.3% |
| Stocks | 30/36 | €54,915 | €47,626 | -€7,289 | -13.3% |
| Amounts receivable within one year | 40/41 | €51,736 | €51,334 | -€403 | -0.8% |
| Trade receivables | 40 | €51,736 | €51,248 | -€489 | -0.9% |
| Other amounts receivable | 41 | €0 | €86 | +€86 | |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €42,258 | €63,893 | +€21,635 | +51.2% |
| Deferred charges and accrued income | 490/1 | €4,935 | €4,352 | -€583 | -11.8% |
| Total equity and liabilities | 10/49 | €208,934 | €250,147 | +€41,213 | +19.7% |
| Equity | 10/15 | €48,031 | €48,064 | +€34 | +0.1% |
| Contributions | 10/11 | €18,220 | €18,220 | = | 0.0% |
| Reserves | 13 | €29,750 | €29,750 | = | 0.0% |
| Distributable reserves | 133 | €29,750 | €29,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60 | €94 | +€34 | +55.7% |
| Amounts payable | 17/49 | €160,903 | €202,083 | +€41,180 | +25.6% |
| Amounts payable after more than one year | 17 | €22,787 | €41,095 | +€18,308 | +80.3% |
| Financial debts | 170/4 | €22,787 | €41,095 | +€18,308 | +80.3% |
| Amounts payable within one year | 42/48 | €138,116 | €160,988 | +€22,871 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €10,399 | €15,889 | +€5,490 | +52.8% |
| Trade debts | 44 | €58,968 | €49,355 | -€9,613 | -16.3% |
| Suppliers | 440/4 | €58,968 | €49,355 | -€9,613 | -16.3% |
| Taxes, remuneration and social security | 45 | €39,553 | €41,051 | +€1,498 | +3.8% |
| Taxes | 450/3 | €27,450 | €27,104 | -€346 | -1.3% |
| Remuneration and social security | 454/9 | €12,103 | €13,947 | +€1,844 | +15.2% |
| Other amounts payable | 47/48 | €29,196 | €54,692 | +€25,497 | +87.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €96,588 | €100,334 | +€3,746 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,904 | €29,765 | +€15,862 | +114% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€267 | €725 | +€991 | |
| Other operating charges | 640/8 | €4,464 | €4,546 | +€83 | +1.9% |
| Non-recurring operating charges | 66A | - | €1,710 | +€1,710 | |
| Gross operating margin | 9900 | €133,647 | €165,297 | +€31,650 | +23.7% |
| Operating profit (loss) | 9901 | €18,959 | €28,217 | +€9,258 | +48.8% |
| Financial income | 75/76B | €62 | €76 | +€15 | +23.5% |
| Recurring financial income | 75 | €62 | €76 | +€15 | +23.5% |
| Financial charges | 65/66B | €2,146 | €3,298 | +€1,152 | +53.7% |
| Recurring financial charges | 65 | €2,146 | €3,298 | +€1,152 | +53.7% |
| Profit (loss) for the period before taxes | 9903 | €16,875 | €24,995 | +€8,120 | +48.1% |
| Income taxes | 67/77 | €1,943 | €3,961 | +€2,018 | +104% |
| Profit (loss) for the period | 9904 | €14,932 | €21,034 | +€6,102 | +40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,932 | €21,034 | +€6,102 | +40.9% |
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 29 October 2026 via checked.be.