M14: what changed
M14
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Tax, wage and social debts -€22,917
down €22,917 (-75.9%), from €30,193 to €7,276
of which Remuneration and social security: -€22,801
- Profit (loss) carried forward +€20,151
up €20,151 (+114%), from €17,666 to €37,817
- Other debts +€5,416
up €5,416 (+8.4%), from €64,315 to €69,731
- Short-term financial debts -€3,476
no longer reported in 2025 (was €3,476)
- Turnover +€234,731
up €234,731 (+35.3%), from €664,162 to €898,893
- Purchases and services +€227,477
up €227,477 (+36.5%), from €623,595 to €851,072
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €115,650 | €115,824 | +€174 | +0.2% |
| Current assets | 29/58 | €115,650 | €115,824 | +€174 | +0.2% |
| Stocks and contracts in progress | 3 | €115,650 | €115,759 | +€109 | +0.1% |
| Stocks | 30/36 | €115,650 | €115,759 | +€109 | +0.1% |
| Cash at bank and in hand | 54/58 | - | €65 | +€65 | |
| Total equity and liabilities | 10/49 | €115,650 | €115,824 | +€174 | +0.2% |
| Equity | 10/15 | €17,666 | €38,817 | +€21,151 | +120% |
| Contributions | 10/11 | - | €1,000 | +€1,000 | |
| Profit (loss) carried forward | 14 | €17,666 | €37,817 | +€20,151 | +114% |
| Amounts payable | 17/49 | €97,984 | €77,007 | -€20,977 | -21.4% |
| Amounts payable within one year | 42/48 | €97,984 | €77,007 | -€20,977 | -21.4% |
| Financial debts | 43 | €3,476 | - | -€3,476 | |
| Credit institutions | 430/8 | €3,476 | - | -€3,476 | |
| Taxes, remuneration and social security | 45 | €30,193 | €7,276 | -€22,917 | -75.9% |
| Taxes | 450/3 | €7,393 | €7,276 | -€116 | -1.6% |
| Remuneration and social security | 454/9 | €22,801 | - | -€22,801 | |
| Other amounts payable | 47/48 | €64,315 | €69,731 | +€5,416 | +8.4% |
| Turnover | 70 | €664,162 | €898,893 | +€234,731 | +35.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €623,595 | €851,072 | +€227,477 | +36.5% |
| Remuneration, social security and pensions | 62 | €22,801 | €28,739 | +€5,938 | +26.0% |
| Other operating charges | 640/8 | €0 | €239 | +€238 | +794,967% |
| Gross operating margin | 9900 | €40,566 | €47,821 | +€7,254 | +17.9% |
| Operating profit (loss) | 9901 | €17,766 | €18,843 | +€1,078 | +6.1% |
| Financial charges | 65/66B | €100 | €192 | +€92 | +92.0% |
| Recurring financial charges | 65 | €100 | €192 | +€92 | +92.0% |
| Profit (loss) for the period before taxes | 9903 | €17,666 | €18,651 | +€986 | +5.6% |
| Profit (loss) for the period | 9904 | €17,666 | €18,651 | +€986 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,666 | €18,651 | +€986 | +5.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.