LENDERS: 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.
LENDERS
Largest movements
- Tangible fixed assets +€99,761
up €99,761 (+312%), from €32,026 to €131,787
of which Leasing and similar rights: +€96,378
- Receivables within one year +€77,673
up €77,673 (+698%), from €11,124 to €88,797
of which Trade receivables: +€75,707
- Cash -€12,480
down €12,480 (-100%), from €12,480 to €0
mainly Investment in fixed assets (net) (-€109,814) and Receivables within one year (-€77,673)
- Stocks and contracts +€8,000
new in 2024: €8,000
- Deferred charges and accrued income -€3,256
down €3,256 (-94.5%), from €3,444 to €188
- Debts after one year +€67,429
up €67,429 (+417%), from €16,181 to €83,611
- Trade debts +€46,025
up €46,025 (+401%), from €11,469 to €57,493
- Other debts +€31,397
new in 2024: €31,397
- Short-term financial debts +€17,507
new in 2024: €17,507
- Current portion of long-term debt +€11,843
up €11,843 (+136%), from €8,714 to €20,558
- Gross operating margin -€24,851
down €24,851 (-73.5%), from €33,791 to €8,940
- Taxes -€5,082
down €5,082 (-97.3%), from €5,224 to €143
- Other operating charges -€999
down €999 (-29.7%), from €3,361 to €2,362
- Financial income -€868
down €868 (-93.6%), from €928 to €60
- Depreciation -€616
down €616 (-5.8%), from €10,669 to €10,053
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,074 | €228,772 | +€169,698 | +287% |
| Fixed assets | 21/28 | €32,026 | €131,787 | +€99,761 | +312% |
| Tangible fixed assets | 22/27 | €32,026 | €131,787 | +€99,761 | +312% |
| Plant, machinery and equipment | 23 | - | €3,943 | +€3,943 | |
| Furniture and vehicles | 24 | €1,612 | €1,052 | -€560 | -34.7% |
| Leasing and similar rights | 25 | €30,413 | €126,791 | +€96,378 | +317% |
| Current assets | 29/58 | €27,048 | €96,985 | +€69,937 | +259% |
| Stocks and contracts in progress | 3 | - | €8,000 | +€8,000 | |
| Stocks | 30/36 | - | €8,000 | +€8,000 | |
| Amounts receivable within one year | 40/41 | €11,124 | €88,797 | +€77,673 | +698% |
| Trade receivables | 40 | €2,750 | €78,457 | +€75,707 | +2,753% |
| Other amounts receivable | 41 | €8,374 | €10,340 | +€1,966 | +23.5% |
| Cash at bank and in hand | 54/58 | €12,480 | €0 | -€12,480 | -100% |
| Deferred charges and accrued income | 490/1 | €3,444 | €188 | -€3,256 | -94.5% |
| Total equity and liabilities | 10/49 | €59,074 | €228,772 | +€169,698 | +287% |
| Equity | 10/15 | €15,485 | €9,435 | -€6,050 | -39.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €12,985 | €12,985 | = | 0.0% |
| Distributable reserves | 133 | €12,985 | €12,985 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,050 | -€6,050 | |
| Amounts payable | 17/49 | €43,589 | €219,337 | +€175,748 | +403% |
| Amounts payable after more than one year | 17 | €16,181 | €83,611 | +€67,429 | +417% |
| Financial debts | 170/4 | €16,181 | €83,611 | +€67,429 | +417% |
| Amounts payable within one year | 42/48 | €27,407 | €135,726 | +€108,319 | +395% |
| Current portion of amounts payable after more than one year | 42 | €8,714 | €20,558 | +€11,843 | +136% |
| Financial debts | 43 | - | €17,507 | +€17,507 | |
| Credit institutions | 430/8 | - | €17,507 | +€17,507 | |
| Trade debts | 44 | €11,469 | €57,493 | +€46,025 | +401% |
| Suppliers | 440/4 | €11,469 | €57,493 | +€46,025 | +401% |
| Taxes, remuneration and social security | 45 | €7,224 | €8,771 | +€1,547 | +21.4% |
| Taxes | 450/3 | €5,224 | €6,324 | +€1,099 | +21.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,448 | +€448 | +22.4% |
| Other amounts payable | 47/48 | - | €31,397 | +€31,397 | |
| Non-recurring operating income | 76A | €6,940 | €0 | -€6,940 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,669 | €10,053 | -€616 | -5.8% |
| Other operating charges | 640/8 | €3,361 | €2,362 | -€999 | -29.7% |
| Gross operating margin | 9900 | €33,791 | €8,940 | -€24,851 | -73.5% |
| Operating profit (loss) | 9901 | €19,761 | -€3,476 | -€23,236 | |
| Financial income | 75/76B | €928 | €60 | -€868 | -93.6% |
| Recurring financial income | 75 | €928 | €60 | -€868 | -93.6% |
| Financial charges | 65/66B | €2,479 | €2,491 | +€12 | +0.5% |
| Recurring financial charges | 65 | €2,479 | €2,491 | +€12 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €18,210 | -€5,907 | -€24,117 | |
| Income taxes | 67/77 | €5,224 | €143 | -€5,082 | -97.3% |
| Profit (loss) for the period | 9904 | €12,985 | -€6,050 | -€19,035 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,985 | -€6,050 | -€19,035 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.