LOCAL KNOWLEDGE: 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.
LOCAL KNOWLEDGE
Largest movements
- Receivables within one year -€30,672
down €30,672 (-12.4%), from €248,329 to €217,657
of which Trade receivables: -€25,504
- Cash +€21,807
up €21,807 (+458.3%), from €4,758 to €26,565
mainly Receivables within one year (+€30,672) and Net result for the year (+€16,218)
- Deferred charges and accrued income +€2,944
up €2,944 (+290.2%), from €1,015 to €3,959
- Reserves -€4,818
down €4,818 (-2.8%), from €171,130 to €166,312
- Trade debts -€4,309
down €4,309 (-24.8%), from €17,347 to €13,039
- Other debts +€3,759
up €3,759 (+17.9%), from €21,024 to €24,783
- Profit (loss) carried forward -€3,747
no longer reported in 2025 (was €3,747)
- Staff costs +€38,581
up €38,581 (+20.3%), from €189,621 to €228,202
- Gross operating margin +€37,812
up €37,812 (+17.3%), from €219,019 to €256,831
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 | €256,711 | €249,852 | -€6,858 | -2.7% |
| Fixed assets | 21/28 | €2,609 | €1,672 | -€937 | -35.9% |
| Tangible fixed assets | 22/27 | €2,609 | €1,572 | -€1,037 | -39.8% |
| Plant, machinery and equipment | 23 | €1,065 | €801 | -€264 | -24.8% |
| Furniture and vehicles | 24 | €1,544 | €771 | -€773 | -50.1% |
| Financial fixed assets | 28 | - | €100 | +€100 | |
| Current assets | 29/58 | €254,101 | €248,180 | -€5,921 | -2.3% |
| Amounts receivable within one year | 40/41 | €248,329 | €217,657 | -€30,672 | -12.4% |
| Trade receivables | 40 | €46,037 | €20,532 | -€25,504 | -55.4% |
| Other amounts receivable | 41 | €202,292 | €197,124 | -€5,167 | -2.6% |
| Cash at bank and in hand | 54/58 | €4,758 | €26,565 | +€21,807 | +458.3% |
| Deferred charges and accrued income | 490/1 | €1,015 | €3,959 | +€2,944 | +290.2% |
| Total equity and liabilities | 10/49 | €256,711 | €249,852 | -€6,858 | -2.7% |
| Equity | 10/15 | €175,377 | €166,812 | -€8,565 | -4.9% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €171,130 | €166,312 | -€4,818 | -2.8% |
| Distributable reserves | 133 | €171,130 | €166,312 | -€4,818 | -2.8% |
| Profit (loss) carried forward | 14 | €3,747 | - | -€3,747 | |
| Amounts payable | 17/49 | €81,333 | €83,040 | +€1,707 | +2.1% |
| Amounts payable within one year | 42/48 | €81,333 | €82,922 | +€1,589 | +2.0% |
| Trade debts | 44 | €17,347 | €13,039 | -€4,309 | -24.8% |
| Suppliers | 440/4 | €17,347 | €13,039 | -€4,309 | -24.8% |
| Taxes, remuneration and social security | 45 | €42,962 | €45,101 | +€2,139 | +5.0% |
| Taxes | 450/3 | €25,080 | €19,893 | -€5,187 | -20.7% |
| Remuneration and social security | 454/9 | €17,883 | €25,208 | +€7,326 | +41.0% |
| Other amounts payable | 47/48 | €21,024 | €24,783 | +€3,759 | +17.9% |
| Accrued charges and deferred income | 492/3 | - | €118 | +€118 | |
| Remuneration, social security and pensions | 62 | €189,621 | €228,202 | +€38,581 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €893 | €1,037 | +€144 | +16.2% |
| Other operating charges | 640/8 | €1,451 | €866 | -€585 | -40.3% |
| Gross operating margin | 9900 | €219,019 | €256,831 | +€37,812 | +17.3% |
| Operating profit (loss) | 9901 | €27,054 | €26,726 | -€328 | -1.2% |
| Financial income | 75/76B | €2,350 | €1,073 | -€1,276 | -54.3% |
| Recurring financial income | 75 | €2,350 | €1,073 | -€1,276 | -54.3% |
| Financial charges | 65/66B | €1,966 | €2,089 | +€124 | +6.3% |
| Recurring financial charges | 65 | €1,966 | €2,089 | +€124 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €27,437 | €25,710 | -€1,728 | -6.3% |
| Income taxes | 67/77 | €9,265 | €9,492 | +€227 | +2.4% |
| Profit (loss) for the period | 9904 | €18,172 | €16,218 | -€1,954 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,172 | €16,218 | -€1,954 | -10.8% |
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 8 October 2026 via checked.be.