M. TECHNIQUE: 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.
M. TECHNIQUE
Largest movements
- Receivables within one year +€254,524
up €254,524 (+102.7%), from €247,938 to €502,462
of which Trade receivables: +€248,027
- Cash -€103,817
no longer reported in 2025 (was €103,817)
mainly Receivables within one year (-€254,524) and Contributions, distributions and other (-€148,738)
- Tangible fixed assets +€11,525
up €11,525 (+153.8%), from €7,492 to €19,017
of which Furniture and vehicles: +€11,720
- Other debts +€123,070
up €123,070 (+66.8%), from €184,147 to €307,218
- Tax, wage and social debts +€47,434
up €47,434 (+89.2%), from €53,162 to €100,596
of which Taxes: +€48,258
- Trade debts -€9,557
down €9,557 (-8.8%), from €108,781 to €99,224
- Gross operating margin -€31,399
down €31,399 (-11.8%), from €266,133 to €234,734
- Staff costs -€28,555
down €28,555 (-55.8%), from €51,151 to €22,596
- Taxes -€6,350
down €6,350 (-11.7%), from €54,253 to €47,903
- Depreciation +€3,126
up €3,126 (+67.7%), from €4,620 to €7,747
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 | €366,550 | €528,781 | +€162,232 | +44.3% |
| Fixed assets | 21/28 | €14,795 | €26,320 | +€11,525 | +77.9% |
| Tangible fixed assets | 22/27 | €7,492 | €19,017 | +€11,525 | +153.8% |
| Plant, machinery and equipment | 23 | €392 | €198 | -€195 | -49.6% |
| Furniture and vehicles | 24 | €7,100 | €18,819 | +€11,720 | +165.1% |
| Financial fixed assets | 28 | €7,303 | €7,303 | = | 0.0% |
| Current assets | 29/58 | €351,755 | €502,462 | +€150,707 | +42.8% |
| Amounts receivable within one year | 40/41 | €247,938 | €502,462 | +€254,524 | +102.7% |
| Trade receivables | 40 | €215,437 | €463,464 | +€248,027 | +115.1% |
| Other amounts receivable | 41 | €32,501 | €38,998 | +€6,497 | +20.0% |
| Cash at bank and in hand | 54/58 | €103,817 | - | -€103,817 | |
| Total equity and liabilities | 10/49 | €366,550 | €528,781 | +€162,232 | +44.3% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| 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% |
| Amounts payable | 17/49 | €346,090 | €508,321 | +€162,232 | +46.9% |
| Amounts payable within one year | 42/48 | €346,090 | €508,321 | +€162,232 | +46.9% |
| Financial debts | 43 | - | €1,284 | +€1,284 | |
| Credit institutions | 430/8 | - | €1,284 | +€1,284 | |
| Trade debts | 44 | €108,781 | €99,224 | -€9,557 | -8.8% |
| Suppliers | 440/4 | €108,781 | €99,224 | -€9,557 | -8.8% |
| Taxes, remuneration and social security | 45 | €53,162 | €100,596 | +€47,434 | +89.2% |
| Taxes | 450/3 | €48,972 | €97,229 | +€48,258 | +98.5% |
| Remuneration and social security | 454/9 | €4,190 | €3,366 | -€823 | -19.7% |
| Other amounts payable | 47/48 | €184,147 | €307,218 | +€123,070 | +66.8% |
| Remuneration, social security and pensions | 62 | €51,151 | €22,596 | -€28,555 | -55.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,620 | €7,747 | +€3,126 | +67.7% |
| Other operating charges | 640/8 | €4,454 | €3,238 | -€1,216 | -27.3% |
| Gross operating margin | 9900 | €266,133 | €234,734 | -€31,399 | -11.8% |
| Operating profit (loss) | 9901 | €205,907 | €201,153 | -€4,754 | -2.3% |
| Financial charges | 65/66B | €4,038 | €4,512 | +€475 | +11.8% |
| Recurring financial charges | 65 | €4,038 | €4,512 | +€475 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €201,870 | €196,641 | -€5,229 | -2.6% |
| Income taxes | 67/77 | €54,253 | €47,903 | -€6,350 | -11.7% |
| Profit (loss) for the period | 9904 | €147,616 | €148,738 | +€1,122 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €147,616 | €148,738 | +€1,122 | +0.8% |
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 6 October 2026 via checked.be.