Link: 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.
Link
Largest movements
- Tangible fixed assets +€250,015
up €250,015 (+24704.8%), from €1,012 to €251,027
of which Land and buildings: +€250,485
- Cash -€37,812
down €37,812 (-57.7%), from €65,509 to €27,697
mainly Investment in fixed assets (net) (-€253,319) and Stocks and contracts (-€24,891)
- Stocks and contracts +€24,891
up €24,891 (+52.0%), from €47,898 to €72,789
- Receivables within one year -€14,557
down €14,557 (-67.7%), from €21,509 to €6,952
of which Trade receivables: -€14,156
- Debts after one year +€210,824
new in 2025: €210,824
- Tax, wage and social debts -€13,432
down €13,432 (-36.9%), from €36,357 to €22,925
of which Taxes: -€12,907
- Current portion of long-term debt +€10,695
new in 2025: €10,695
- Profit (loss) carried forward +€7,920
up €7,920 (+11.8%), from €67,242 to €75,161
- Accrued charges and deferred income +€4,907
new in 2025: €4,907
- Turnover +€115,524
up €115,524 (+29.3%), from €394,113 to €509,636
- Purchases and services +€101,556
up €101,556 (+28.4%), from €357,236 to €458,792
- Gross operating margin +€14,069
up €14,069 (+38.1%), from €36,935 to €51,005
- Staff costs +€11,064
up €11,064 (+126.3%), from €8,760 to €19,824
- Other operating charges +€10,909
up €10,909 (+283.3%), from €3,851 to €14,760
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 | €141,328 | €363,866 | +€222,537 | +157.5% |
| Fixed assets | 21/28 | €6,412 | €256,427 | +€250,015 | +3899.2% |
| Tangible fixed assets | 22/27 | €1,012 | €251,027 | +€250,015 | +24704.8% |
| Land and buildings | 22 | - | €250,485 | +€250,485 | |
| Plant, machinery and equipment | 23 | €320 | €61 | -€259 | -81.0% |
| Furniture and vehicles | 24 | €692 | €481 | -€211 | -30.5% |
| Financial fixed assets | 28 | €5,400 | €5,400 | = | 0.0% |
| Current assets | 29/58 | €134,916 | €107,439 | -€27,478 | -20.4% |
| Stocks and contracts in progress | 3 | €47,898 | €72,789 | +€24,891 | +52.0% |
| Stocks | 30/36 | €47,898 | €72,789 | +€24,891 | +52.0% |
| Amounts receivable within one year | 40/41 | €21,509 | €6,952 | -€14,557 | -67.7% |
| Trade receivables | 40 | €21,108 | €6,952 | -€14,156 | -67.1% |
| Other amounts receivable | 41 | €401 | - | -€401 | |
| Cash at bank and in hand | 54/58 | €65,509 | €27,697 | -€37,812 | -57.7% |
| Total equity and liabilities | 10/49 | €141,328 | €363,866 | +€222,537 | +157.5% |
| Equity | 10/15 | €74,742 | €82,661 | +€7,920 | +10.6% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,242 | €75,161 | +€7,920 | +11.8% |
| Amounts payable | 17/49 | €66,587 | €281,204 | +€214,618 | +322.3% |
| Amounts payable after more than one year | 17 | - | €210,824 | +€210,824 | |
| Financial debts | 170/4 | - | €210,824 | +€210,824 | |
| Amounts payable within one year | 42/48 | €66,587 | €65,473 | -€1,114 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | - | €10,695 | +€10,695 | |
| Trade debts | 44 | €14,678 | €18,153 | +€3,475 | +23.7% |
| Suppliers | 440/4 | €14,678 | €18,153 | +€3,475 | +23.7% |
| Advances received on contracts in progress | 46 | €12,700 | €13,700 | +€1,000 | +7.9% |
| Taxes, remuneration and social security | 45 | €36,357 | €22,925 | -€13,432 | -36.9% |
| Taxes | 450/3 | €35,491 | €22,584 | -€12,907 | -36.4% |
| Remuneration and social security | 454/9 | €866 | €341 | -€525 | -60.7% |
| Other amounts payable | 47/48 | €2,852 | - | -€2,852 | |
| Accrued charges and deferred income | 492/3 | - | €4,907 | +€4,907 | |
| Turnover | 70 | €394,113 | €509,636 | +€115,524 | +29.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €357,236 | €458,792 | +€101,556 | +28.4% |
| Remuneration, social security and pensions | 62 | €8,760 | €19,824 | +€11,064 | +126.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €470 | €3,304 | +€2,834 | +603.1% |
| Other operating charges | 640/8 | €3,851 | €14,760 | +€10,909 | +283.3% |
| Gross operating margin | 9900 | €36,935 | €51,005 | +€14,069 | +38.1% |
| Operating profit (loss) | 9901 | €23,854 | €13,116 | -€10,738 | -45.0% |
| Financial income | 75/76B | €192 | €1,304 | +€1,112 | +579.8% |
| Recurring financial income | 75 | €192 | €1,304 | +€1,112 | +579.8% |
| Financial charges | 65/66B | €291 | €3,512 | +€3,221 | +1105.1% |
| Recurring financial charges | 65 | €291 | €3,512 | +€3,221 | +1105.1% |
| Profit (loss) for the period before taxes | 9903 | €23,755 | €10,908 | -€12,847 | -54.1% |
| Income taxes | 67/77 | €6,396 | €2,988 | -€3,408 | -53.3% |
| Profit (loss) for the period | 9904 | €17,358 | €7,920 | -€9,438 | -54.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,358 | €7,920 | -€9,438 | -54.4% |
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 30 September 2026 via checked.be.