Les 3 T: 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.
Les 3 T
Largest movements
- Receivables within one year +€68,451
up €68,451 (+31.6%), from €216,423 to €284,873
of which Other amounts receivable: +€74,000
- Tangible fixed assets -€13,524
down €13,524 (-34.2%), from €39,522 to €25,998
of which Plant, machinery and equipment: -€9,731
- Cash +€7,792
up €7,792 (+11.4%), from €68,588 to €76,380
mainly Net result for the year (+€63,098) and Depreciation (+€13,524)
- Stocks and contracts +€5,157
up €5,157 (+9.2%), from €55,957 to €61,114
- Profit (loss) carried forward +€63,098
up €63,098 (+57.0%), from €110,713 to €173,811
- Tax, wage and social debts +€10,761
up €10,761 (+28.0%), from €38,492 to €49,253
of which Taxes: +€11,777
- Debts after one year -€8,143
down €8,143 (-40.0%), from €20,374 to €12,232
- Gross operating margin +€31,767
up €31,767 (+14.6%), from €218,209 to €249,976
- Taxes +€11,515
up €11,515 (+94.2%), from €12,219 to €23,735
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 | €380,490 | €448,366 | +€67,876 | +17.8% |
| Fixed assets | 21/28 | €39,522 | €25,998 | -€13,524 | -34.2% |
| Tangible fixed assets | 22/27 | €39,522 | €25,998 | -€13,524 | -34.2% |
| Land and buildings | 22 | €7,585 | €3,793 | -€3,793 | -50.0% |
| Plant, machinery and equipment | 23 | €31,937 | €22,206 | -€9,731 | -30.5% |
| Current assets | 29/58 | €340,968 | €422,368 | +€81,400 | +23.9% |
| Stocks and contracts in progress | 3 | €55,957 | €61,114 | +€5,157 | +9.2% |
| Stocks | 30/36 | €55,957 | €61,114 | +€5,157 | +9.2% |
| Amounts receivable within one year | 40/41 | €216,423 | €284,873 | +€68,451 | +31.6% |
| Trade receivables | 40 | €6,123 | €573 | -€5,549 | -90.6% |
| Other amounts receivable | 41 | €210,300 | €284,300 | +€74,000 | +35.2% |
| Cash at bank and in hand | 54/58 | €68,588 | €76,380 | +€7,792 | +11.4% |
| Total equity and liabilities | 10/49 | €380,490 | €448,366 | +€67,876 | +17.8% |
| Equity | 10/15 | €131,173 | €194,271 | +€63,098 | +48.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,713 | €173,811 | +€63,098 | +57.0% |
| Amounts payable | 17/49 | €249,317 | €254,095 | +€4,778 | +1.9% |
| Amounts payable after more than one year | 17 | €20,374 | €12,232 | -€8,143 | -40.0% |
| Financial debts | 170/4 | €20,374 | €12,232 | -€8,143 | -40.0% |
| Amounts payable within one year | 42/48 | €228,943 | €241,864 | +€12,921 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €7,759 | €8,143 | +€384 | +5.0% |
| Trade debts | 44 | €180,198 | €181,727 | +€1,529 | +0.8% |
| Suppliers | 440/4 | €180,198 | €181,727 | +€1,529 | +0.8% |
| Taxes, remuneration and social security | 45 | €38,492 | €49,253 | +€10,761 | +28.0% |
| Taxes | 450/3 | €14,547 | €26,324 | +€11,777 | +81.0% |
| Remuneration and social security | 454/9 | €23,945 | €22,929 | -€1,016 | -4.2% |
| Other amounts payable | 47/48 | €2,495 | €2,741 | +€247 | +9.9% |
| Remuneration, social security and pensions | 62 | €137,980 | €139,359 | +€1,379 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,560 | €13,524 | -€36 | -0.3% |
| Other operating charges | 640/8 | €5,861 | €6,890 | +€1,028 | +17.5% |
| Gross operating margin | 9900 | €218,209 | €249,976 | +€31,767 | +14.6% |
| Operating profit (loss) | 9901 | €60,807 | €90,203 | +€29,396 | +48.3% |
| Financial income | 75/76B | €66 | €3 | -€63 | -96.1% |
| Recurring financial income | 75 | €66 | €3 | -€63 | -96.1% |
| Financial charges | 65/66B | €2,551 | €3,373 | +€822 | +32.2% |
| Recurring financial charges | 65 | €2,551 | €3,373 | +€822 | +32.2% |
| Profit (loss) for the period before taxes | 9903 | €58,321 | €86,833 | +€28,512 | +48.9% |
| Income taxes | 67/77 | €12,219 | €23,735 | +€11,515 | +94.2% |
| Profit (loss) for the period | 9904 | €46,102 | €63,098 | +€16,996 | +36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €46,102 | €63,098 | +€16,996 | +36.9% |
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 17 October 2026 via checked.be.