LET'S DO IT: 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.
LET'S DO IT
Largest movements
- Receivables within one year +€435,469
up €435,469 (+29.1%), from €1.5m to €1.9m
of which Trade receivables: +€408,506
- Stocks and contracts +€355,579
up €355,579 (+61.9%), from €574,233 to €929,812
- Cash +€73,298
up €73,298 (+38.9%), from €188,232 to €261,530
mainly Trade debts (+€853,859) and Net result for the year (+€237,503)
- Tangible fixed assets +€39,660
up €39,660 (+24.1%), from €164,841 to €204,501
of which Plant, machinery and equipment: +€29,928
- Intangible fixed assets +€36,575
up €36,575 (+81.8%), from €44,699 to €81,274
- Trade debts +€853,859
up €853,859 (+125%), from €684,074 to €1.5m
- Reserves +€157,875
up €157,875 (+8,488%), from €1,860 to €159,735
of which Tax-exempt reserves: +€157,875
- Short-term financial debts -€138,175
down €138,175 (-44.1%), from €313,175 to €175,000
- Tax, wage and social debts -€121,364
down €121,364 (-39.0%), from €310,974 to €189,610
of which Taxes: -€158,220
- Other debts +€97,799
up €97,799 (+2,482%), from €3,940 to €101,739
- Turnover +€7.9m
new in 2025: €7.9m
- Purchases and services +€5.9m
new in 2025: €5.9m
- Gross operating margin +€772,466
up €772,466 (+65.4%), from €1.2m to €2.0m
- Staff costs +€584,614
up €584,614 (+73.6%), from €794,630 to €1.4m
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 | €2,511,872 | €3,422,106 | +€910,234 | +36.2% |
| Fixed assets | 21/28 | €210,140 | €286,375 | +€76,235 | +36.3% |
| Intangible fixed assets | 21 | €44,699 | €81,274 | +€36,575 | +81.8% |
| Tangible fixed assets | 22/27 | €164,841 | €204,501 | +€39,660 | +24.1% |
| Plant, machinery and equipment | 23 | €10,682 | €40,610 | +€29,928 | +280% |
| Furniture and vehicles | 24 | €132,775 | €127,869 | -€4,906 | -3.7% |
| Other tangible fixed assets | 26 | €21,384 | €36,022 | +€14,638 | +68.5% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €2,301,732 | €3,135,731 | +€833,999 | +36.2% |
| Stocks and contracts in progress | 3 | €574,233 | €929,812 | +€355,579 | +61.9% |
| Stocks | 30/36 | €574,233 | €929,812 | +€355,579 | +61.9% |
| Amounts receivable within one year | 40/41 | €1,493,974 | €1,929,443 | +€435,469 | +29.1% |
| Trade receivables | 40 | €1,479,142 | €1,887,648 | +€408,506 | +27.6% |
| Other amounts receivable | 41 | €14,832 | €41,796 | +€26,964 | +182% |
| Cash at bank and in hand | 54/58 | €188,232 | €261,530 | +€73,298 | +38.9% |
| Deferred charges and accrued income | 490/1 | €45,293 | €14,945 | -€30,348 | -67.0% |
| Total equity and liabilities | 10/49 | €2,511,872 | €3,422,106 | +€910,234 | +36.2% |
| Equity | 10/15 | €532,218 | €739,721 | +€207,503 | +39.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €159,735 | +€157,875 | +8,488% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €157,875 | +€157,875 | |
| Profit (loss) carried forward | 14 | €511,758 | €561,386 | +€49,628 | +9.7% |
| Amounts payable | 17/49 | €1,979,655 | €2,682,385 | +€702,730 | +35.5% |
| Amounts payable after more than one year | 17 | €473,897 | €432,491 | -€41,406 | -8.7% |
| Financial debts | 170/4 | €473,897 | €432,491 | -€41,406 | -8.7% |
| Amounts payable within one year | 42/48 | €1,505,600 | €2,207,498 | +€701,898 | +46.6% |
| Current portion of amounts payable after more than one year | 42 | €193,437 | €203,217 | +€9,779 | +5.1% |
| Financial debts | 43 | €313,175 | €175,000 | -€138,175 | -44.1% |
| Credit institutions | 430/8 | €313,175 | €175,000 | -€138,175 | -44.1% |
| Trade debts | 44 | €684,074 | €1,537,933 | +€853,859 | +125% |
| Suppliers | 440/4 | €684,074 | €1,537,933 | +€853,859 | +125% |
| Taxes, remuneration and social security | 45 | €310,974 | €189,610 | -€121,364 | -39.0% |
| Taxes | 450/3 | €197,521 | €39,302 | -€158,220 | -80.1% |
| Remuneration and social security | 454/9 | €113,452 | €150,308 | +€36,856 | +32.5% |
| Other amounts payable | 47/48 | €3,940 | €101,739 | +€97,799 | +2,482% |
| Accrued charges and deferred income | 492/3 | €158 | €42,396 | +€42,238 | +26,736% |
| Turnover | 70 | - | €7,856,003 | +€7.9m | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €5,943,525 | +€5.9m | |
| Remuneration, social security and pensions | 62 | €794,630 | €1,379,243 | +€584,614 | +73.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,447 | €72,686 | +€29,238 | +67.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €24,351 | €0 | -€24,351 | -100% |
| Other operating charges | 640/8 | €23,335 | €23,683 | +€348 | +1.5% |
| Non-recurring operating charges | 66A | - | €21,221 | +€21,221 | |
| Gross operating margin | 9900 | €1,180,729 | €1,953,195 | +€772,466 | +65.4% |
| Operating profit (loss) | 9901 | €294,967 | €456,362 | +€161,395 | +54.7% |
| Financial income | 75/76B | €932 | €26,689 | +€25,756 | +2,762% |
| Recurring financial income | 75 | €932 | €26,689 | +€25,756 | +2,762% |
| Financial charges | 65/66B | €99,339 | €126,246 | +€26,907 | +27.1% |
| Recurring financial charges | 65 | €65,589 | €126,246 | +€60,657 | +92.5% |
| Non-recurring financial charges | 66B | €33,750 | €0 | -€33,750 | -100% |
| Profit (loss) for the period before taxes | 9903 | €196,560 | €356,805 | +€160,244 | +81.5% |
| Income taxes | 67/77 | €61,554 | €119,301 | +€57,748 | +93.8% |
| Profit (loss) for the period | 9904 | €135,007 | €237,503 | +€102,497 | +75.9% |
| Profit (loss) for the period to be appropriated | 9905 | €135,007 | €237,503 | +€102,497 | +75.9% |
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 18 October 2026 via checked.be.