Labels & Things: 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.
Labels & Things
Largest movements
- Receivables within one year +€320,936
up €320,936 (+68.8%), from €466,721 to €787,657
of which Trade receivables: +€330,251
- Tangible fixed assets -€57,383
down €57,383 (-26.0%), from €220,343 to €162,960
of which Land and buildings: -€30,284
- Stocks and contracts +€50,709
up €50,709 (+48.4%), from €104,757 to €155,466
- Cash -€37,667
down €37,667 (-63.0%), from €59,752 to €22,085
mainly Receivables within one year (-€320,936) and Stocks and contracts (-€50,709)
- Financial fixed assets +€24,877
up €24,877 (+59.2%), from €41,991 to €66,868
- Trade debts +€142,960
up €142,960 (+21.6%), from €660,950 to €803,911
- Advances received +€85,225
up €85,225 (+224.3%), from €37,996 to €123,221
- Debts after one year -€49,849
down €49,849 (-30.7%), from €162,188 to €112,339
- Profit (loss) carried forward +€47,279
up €47,279 (+29.9%), from -€158,232 to -€110,953
- Tax, wage and social debts +€39,380
up €39,380 (+42.1%), from €93,581 to €132,961
of which Taxes: +€26,574
- Gross operating margin +€121,519
up €121,519 (+12.4%), from €982,658 to €1.1m
- Other operating charges -€84,084
down €84,084 (-86.3%), from €97,408 to €13,323
- Staff costs +€55,347
up €55,347 (+6.6%), from €843,761 to €899,108
- Write-downs +€54,617
up €54,617, from -€47,626 to €6,991
- Financial charges +€25,543
up €25,543 (+47.3%), from €54,038 to €79,582
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 | €1,128,559 | €1,395,757 | +€267,198 | +23.7% |
| Fixed assets | 21/28 | €386,672 | €337,476 | -€49,196 | -12.7% |
| Intangible fixed assets | 21 | €124,338 | €107,648 | -€16,690 | -13.4% |
| Tangible fixed assets | 22/27 | €220,343 | €162,960 | -€57,383 | -26.0% |
| Land and buildings | 22 | €101,638 | €71,354 | -€30,284 | -29.8% |
| Plant, machinery and equipment | 23 | €37,968 | €32,179 | -€5,788 | -15.2% |
| Furniture and vehicles | 24 | €80,737 | €59,426 | -€21,311 | -26.4% |
| Financial fixed assets | 28 | €41,991 | €66,868 | +€24,877 | +59.2% |
| Current assets | 29/58 | €741,887 | €1,058,281 | +€316,395 | +42.6% |
| Stocks and contracts in progress | 3 | €104,757 | €155,466 | +€50,709 | +48.4% |
| Stocks | 30/36 | €104,757 | €155,466 | +€50,709 | +48.4% |
| Amounts receivable within one year | 40/41 | €466,721 | €787,657 | +€320,936 | +68.8% |
| Trade receivables | 40 | €379,735 | €709,986 | +€330,251 | +87.0% |
| Other amounts receivable | 41 | €86,986 | €77,671 | -€9,315 | -10.7% |
| Cash at bank and in hand | 54/58 | €59,752 | €22,085 | -€37,667 | -63.0% |
| Deferred charges and accrued income | 490/1 | €110,657 | €93,074 | -€17,584 | -15.9% |
| Total equity and liabilities | 10/49 | €1,128,559 | €1,395,757 | +€267,198 | +23.7% |
| Equity | 10/15 | €109,828 | €157,107 | +€47,279 | +43.0% |
| Contributions | 10/11 | €268,060 | €268,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€158,232 | -€110,953 | +€47,279 | +29.9% |
| Amounts payable | 17/49 | €1,018,731 | €1,238,650 | +€219,919 | +21.6% |
| Amounts payable after more than one year | 17 | €162,188 | €112,339 | -€49,849 | -30.7% |
| Financial debts | 170/4 | €162,188 | €112,339 | -€49,849 | -30.7% |
| Amounts payable within one year | 42/48 | €840,712 | €1,109,941 | +€269,229 | +32.0% |
| Current portion of amounts payable after more than one year | 42 | €47,592 | €49,849 | +€2,257 | +4.7% |
| Trade debts | 44 | €660,950 | €803,911 | +€142,960 | +21.6% |
| Suppliers | 440/4 | €660,950 | €803,911 | +€142,960 | +21.6% |
| Advances received on contracts in progress | 46 | €37,996 | €123,221 | +€85,225 | +224.3% |
| Taxes, remuneration and social security | 45 | €93,581 | €132,961 | +€39,380 | +42.1% |
| Taxes | 450/3 | €10,226 | €36,800 | +€26,574 | +259.9% |
| Remuneration and social security | 454/9 | €83,355 | €96,161 | +€12,806 | +15.4% |
| Other amounts payable | 47/48 | €592 | - | -€592 | |
| Accrued charges and deferred income | 492/3 | €15,831 | €16,371 | +€539 | +3.4% |
| Non-recurring operating income | 76A | €17,494 | €26,031 | +€8,537 | +48.8% |
| Remuneration, social security and pensions | 62 | €843,761 | €899,108 | +€55,347 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,529 | €87,022 | -€7,507 | -7.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€47,626 | €6,991 | +€54,617 | |
| Other operating charges | 640/8 | €97,408 | €13,323 | -€84,084 | -86.3% |
| Gross operating margin | 9900 | €982,658 | €1,104,177 | +€121,519 | +12.4% |
| Operating profit (loss) | 9901 | -€5,414 | €97,733 | +€103,147 | |
| Financial income | 75/76B | €80,100 | €64,913 | -€15,187 | -19.0% |
| Recurring financial income | 75 | €80,100 | €64,913 | -€15,187 | -19.0% |
| Financial charges | 65/66B | €54,038 | €79,582 | +€25,543 | +47.3% |
| Recurring financial charges | 65 | €54,038 | €79,582 | +€25,543 | +47.3% |
| Profit (loss) for the period before taxes | 9903 | €20,647 | €83,064 | +€62,417 | +302.3% |
| Income taxes | 67/77 | €13,017 | €35,785 | +€22,768 | +174.9% |
| Profit (loss) for the period | 9904 | €7,631 | €47,279 | +€39,649 | +519.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,631 | €47,279 | +€39,649 | +519.6% |
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 6 October 2026 via checked.be.