LEFT OR RIGHT DESIGN: 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.
LEFT OR RIGHT DESIGN
Largest movements
- Tangible fixed assets +€38,445
up €38,445 (+20.3%), from €189,607 to €228,052
of which Leasing and similar rights: +€35,171
- Receivables within one year +€9,200
up €9,200 (+54.1%), from €16,993 to €26,194
of which Trade receivables: +€12,357
- Deferred charges and accrued income -€8,292
down €8,292 (-71.2%), from €11,654 to €3,362
- Trade debts +€17,527
up €17,527 (+502%), from €3,490 to €21,017
- Current portion of long-term debt +€9,084
up €9,084 (+66.5%), from €13,658 to €22,741
- Debts after one year +€7,707
up €7,707 (+5.3%), from €144,539 to €152,247
- Reserves +€2,937
up €2,937 (+6.3%), from €46,797 to €49,733
- Gross operating margin +€9,506
up €9,506 (+46.1%), from €20,642 to €30,148
- Depreciation +€5,398
up €5,398 (+37.3%), from €14,453 to €19,851
- Taxes +€777
up €777 (+634%), from €123 to €900
- Financial charges +€733
up €733 (+17.1%), from €4,281 to €5,013
- Financial income -€343
down €343 (-71.4%), from €481 to €138
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 | €233,476 | €269,913 | +€36,438 | +15.6% |
| Fixed assets | 21/28 | €189,607 | €228,052 | +€38,445 | +20.3% |
| Tangible fixed assets | 22/27 | €189,607 | €228,052 | +€38,445 | +20.3% |
| Land and buildings | 22 | €148,066 | €141,105 | -€6,960 | -4.7% |
| Plant, machinery and equipment | 23 | €33,259 | €27,100 | -€6,159 | -18.5% |
| Furniture and vehicles | 24 | €8,282 | €24,675 | +€16,393 | +198% |
| Leasing and similar rights | 25 | - | €35,171 | +€35,171 | |
| Current assets | 29/58 | €43,869 | €41,861 | -€2,007 | -4.6% |
| Stocks and contracts in progress | 3 | €2,310 | €1,814 | -€497 | -21.5% |
| Stocks | 30/36 | €2,310 | €1,814 | -€497 | -21.5% |
| Amounts receivable within one year | 40/41 | €16,993 | €26,194 | +€9,200 | +54.1% |
| Trade receivables | 40 | €12,486 | €24,844 | +€12,357 | +99.0% |
| Other amounts receivable | 41 | €4,507 | €1,350 | -€3,157 | -70.0% |
| Cash at bank and in hand | 54/58 | €12,911 | €10,492 | -€2,419 | -18.7% |
| Deferred charges and accrued income | 490/1 | €11,654 | €3,362 | -€8,292 | -71.2% |
| Total equity and liabilities | 10/49 | €233,476 | €269,913 | +€36,438 | +15.6% |
| Equity | 10/15 | €65,397 | €68,333 | +€2,937 | +4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €46,797 | €49,733 | +€2,937 | +6.3% |
| Distributable reserves | 133 | €46,797 | €49,733 | +€2,937 | +6.3% |
| Amounts payable | 17/49 | €168,079 | €201,580 | +€33,501 | +19.9% |
| Amounts payable after more than one year | 17 | €144,539 | €152,247 | +€7,707 | +5.3% |
| Financial debts | 170/4 | €144,539 | €152,247 | +€7,707 | +5.3% |
| Amounts payable within one year | 42/48 | €23,242 | €48,834 | +€25,592 | +110% |
| Current portion of amounts payable after more than one year | 42 | €13,658 | €22,741 | +€9,084 | +66.5% |
| Trade debts | 44 | €3,490 | €21,017 | +€17,527 | +502% |
| Suppliers | 440/4 | €3,490 | €21,017 | +€17,527 | +502% |
| Taxes, remuneration and social security | 45 | €5,455 | €3,121 | -€2,334 | -42.8% |
| Taxes | 450/3 | €5,455 | €3,121 | -€2,334 | -42.8% |
| Other amounts payable | 47/48 | €639 | €1,954 | +€1,315 | +206% |
| Accrued charges and deferred income | 492/3 | €297 | €499 | +€202 | +68.0% |
| Non-recurring operating income | 76A | - | €4,500 | +€4,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,453 | €19,851 | +€5,398 | +37.3% |
| Other operating charges | 640/8 | €1,539 | €1,585 | +€46 | +3.0% |
| Gross operating margin | 9900 | €20,642 | €30,148 | +€9,506 | +46.1% |
| Operating profit (loss) | 9901 | €4,650 | €8,712 | +€4,062 | +87.4% |
| Financial income | 75/76B | €481 | €138 | -€343 | -71.4% |
| Recurring financial income | 75 | €481 | €138 | -€343 | -71.4% |
| Financial charges | 65/66B | €4,281 | €5,013 | +€733 | +17.1% |
| Recurring financial charges | 65 | €4,281 | €5,013 | +€733 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | €850 | €3,837 | +€2,986 | +351% |
| Income taxes | 67/77 | €123 | €900 | +€777 | +634% |
| Profit (loss) for the period | 9904 | €727 | €2,937 | +€2,209 | +304% |
| Profit (loss) for the period to be appropriated | 9905 | €727 | €2,937 | +€2,209 | +304% |
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 18 October 2026 via checked.be.