LISTAC: 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.
LISTAC
Largest movements
- Cash +€50,245
up €50,245 (+529%), from €9,497 to €59,742
mainly Receivables within one year (+€27,763) and Net result for the year (+€23,917)
- Receivables within one year -€27,763
down €27,763 (-28.0%), from €98,990 to €71,227
of which Trade receivables: -€26,267
- Reserves +€23,917
up €23,917 (+66.4%), from €36,014 to €59,931
- Trade debts +€19,379
up €19,379 (+155%), from €12,510 to €31,889
- Advances received -€9,000
down €9,000 (-64.3%), from €14,000 to €5,000
- Debts after one year -€7,496
down €7,496 (-36.7%), from €20,435 to €12,939
- Current portion of long-term debt -€4,687
down €4,687 (-38.5%), from €12,183 to €7,496
- Gross operating margin -€14,369
down €14,369 (-21.7%), from €66,191 to €51,822
- Taxes -€6,584
down €6,584 (-38.4%), from €17,168 to €10,583
- Depreciation -€3,465
down €3,465 (-30.5%), from €11,370 to €7,904
- Financial charges +€2,372
up €2,372 (+67.8%), from €3,501 to €5,874
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 | €161,451 | €183,991 | +€22,540 | +14.0% |
| Fixed assets | 21/28 | €39,285 | €37,996 | -€1,289 | -3.3% |
| Tangible fixed assets | 22/27 | €37,035 | €35,746 | -€1,289 | -3.5% |
| Plant, machinery and equipment | 23 | €33,820 | €31,358 | -€2,461 | -7.3% |
| Furniture and vehicles | 24 | €462 | €2,070 | +€1,608 | +348% |
| Leasing and similar rights | 25 | - | €2,318 | +€2,318 | |
| Other tangible fixed assets | 26 | €2,753 | - | -€2,753 | |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €122,166 | €145,995 | +€23,829 | +19.5% |
| Stocks and contracts in progress | 3 | €9,492 | €9,474 | -€18 | -0.2% |
| Stocks | 30/36 | €9,492 | €9,474 | -€18 | -0.2% |
| Amounts receivable within one year | 40/41 | €98,990 | €71,227 | -€27,763 | -28.0% |
| Trade receivables | 40 | €46,999 | €20,732 | -€26,267 | -55.9% |
| Other amounts receivable | 41 | €51,991 | €50,495 | -€1,496 | -2.9% |
| Cash at bank and in hand | 54/58 | €9,497 | €59,742 | +€50,245 | +529% |
| Deferred charges and accrued income | 490/1 | €4,188 | €5,552 | +€1,364 | +32.6% |
| Total equity and liabilities | 10/49 | €161,451 | €183,991 | +€22,540 | +14.0% |
| Equity | 10/15 | €81,194 | €105,111 | +€23,917 | +29.5% |
| Contributions | 10/11 | €14,149 | €14,149 | = | 0.0% |
| Reserves | 13 | €36,014 | €59,931 | +€23,917 | +66.4% |
| Distributable reserves | 133 | €36,014 | €59,931 | +€23,917 | +66.4% |
| Profit (loss) carried forward | 14 | €31,031 | €31,031 | = | 0.0% |
| Amounts payable | 17/49 | €80,257 | €78,880 | -€1,377 | -1.7% |
| Amounts payable after more than one year | 17 | €20,435 | €12,939 | -€7,496 | -36.7% |
| Financial debts | 170/4 | €20,435 | €12,939 | -€7,496 | -36.7% |
| Amounts payable within one year | 42/48 | €59,808 | €65,932 | +€6,124 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €12,183 | €7,496 | -€4,687 | -38.5% |
| Trade debts | 44 | €12,510 | €31,889 | +€19,379 | +155% |
| Suppliers | 440/4 | €12,510 | €31,889 | +€19,379 | +155% |
| Advances received on contracts in progress | 46 | €14,000 | €5,000 | -€9,000 | -64.3% |
| Taxes, remuneration and social security | 45 | €18,594 | €21,168 | +€2,574 | +13.8% |
| Taxes | 450/3 | €17,474 | €21,168 | +€3,694 | +21.1% |
| Remuneration and social security | 454/9 | €1,120 | - | -€1,120 | |
| Other amounts payable | 47/48 | €2,521 | €379 | -€2,142 | -85.0% |
| Accrued charges and deferred income | 492/3 | €14 | €9 | -€5 | -36.7% |
| Remuneration, social security and pensions | 62 | - | €605 | +€605 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,370 | €7,904 | -€3,465 | -30.5% |
| Other operating charges | 640/8 | €150 | €515 | +€365 | +243% |
| Non-recurring operating charges | 66A | - | €2,513 | +€2,513 | |
| Gross operating margin | 9900 | €66,191 | €51,822 | -€14,369 | -21.7% |
| Operating profit (loss) | 9901 | €54,671 | €40,286 | -€14,386 | -26.3% |
| Financial income | 75/76B | €137 | €89 | -€48 | -35.3% |
| Recurring financial income | 75 | €137 | €89 | -€48 | -35.3% |
| Financial charges | 65/66B | €3,501 | €5,874 | +€2,372 | +67.8% |
| Recurring financial charges | 65 | €3,501 | €5,874 | +€2,372 | +67.8% |
| Profit (loss) for the period before taxes | 9903 | €51,307 | €34,501 | -€16,806 | -32.8% |
| Income taxes | 67/77 | €17,168 | €10,583 | -€6,584 | -38.4% |
| Profit (loss) for the period | 9904 | €34,139 | €23,917 | -€10,222 | -29.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,139 | €23,917 | -€10,222 | -29.9% |
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 13 October 2026 via checked.be.