MAILBOX: 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.
MAILBOX
Largest movements
- Receivables within one year +€34,704
up €34,704 (+26.6%), from €130,482 to €165,186
of which Other amounts receivable: +€44,902
- Cash +€33,229
up €33,229 (+11.0%), from €303,377 to €336,607
mainly Net result for the year (+€103,372) and Depreciation (+€31,026)
- Reserves +€34,000
up €34,000 (+11.9%), from €286,874 to €320,874
- Other debts +€21,850
up €21,850 (+50.0%), from €43,700 to €65,550
- Current portion of long-term debt +€6,299
up €6,299 (+73.0%), from €8,631 to €14,930
- Tax, wage and social debts +€6,208
up €6,208 (+9.2%), from €67,307 to €73,516
of which Taxes: +€9,278
- Debts after one year +€6,154
up €6,154 (+42.5%), from €14,465 to €20,619
- Gross operating margin +€53,153
up €53,153 (+17.0%), from €312,422 to €365,575
- Taxes +€17,236
up €17,236 (+59.9%), from €28,777 to €46,013
- Other operating charges -€5,074
down €5,074 (-61.3%), from €8,273 to €3,199
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 | €493,269 | €567,731 | +€74,462 | +15.1% |
| Fixed assets | 21/28 | €56,112 | €58,015 | +€1,903 | +3.4% |
| Tangible fixed assets | 22/27 | €50,529 | €52,432 | +€1,903 | +3.8% |
| Plant, machinery and equipment | 23 | - | €2,917 | +€2,917 | |
| Furniture and vehicles | 24 | €49,476 | €48,598 | -€878 | -1.8% |
| Other tangible fixed assets | 26 | €1,053 | €917 | -€135 | -12.9% |
| Financial fixed assets | 28 | €5,583 | €5,583 | = | 0.0% |
| Current assets | 29/58 | €437,157 | €509,716 | +€72,559 | +16.6% |
| Amounts receivable within one year | 40/41 | €130,482 | €165,186 | +€34,704 | +26.6% |
| Trade receivables | 40 | €122,434 | €112,235 | -€10,199 | -8.3% |
| Other amounts receivable | 41 | €8,048 | €52,950 | +€44,902 | +557.9% |
| Cash at bank and in hand | 54/58 | €303,377 | €336,607 | +€33,229 | +11.0% |
| Deferred charges and accrued income | 490/1 | €3,298 | €7,924 | +€4,626 | +140.3% |
| Total equity and liabilities | 10/49 | €493,269 | €567,731 | +€74,462 | +15.1% |
| Equity | 10/15 | €322,546 | €356,918 | +€34,372 | +10.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €286,874 | €320,874 | +€34,000 | +11.9% |
| Distributable reserves | 133 | €286,874 | €320,874 | +€34,000 | +11.9% |
| Profit (loss) carried forward | 14 | €17,122 | €17,494 | +€372 | +2.2% |
| Provisions and deferred taxes | 16 | €17,005 | €17,005 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €17,005 | €17,005 | = | 0.0% |
| Pensions and similar obligations | 160 | €17,005 | €17,005 | = | 0.0% |
| Amounts payable | 17/49 | €153,718 | €193,808 | +€40,090 | +26.1% |
| Amounts payable after more than one year | 17 | €14,465 | €20,619 | +€6,154 | +42.5% |
| Financial debts | 170/4 | €14,465 | €20,619 | +€6,154 | +42.5% |
| Amounts payable within one year | 42/48 | €139,253 | €173,189 | +€33,936 | +24.4% |
| Current portion of amounts payable after more than one year | 42 | €8,631 | €14,930 | +€6,299 | +73.0% |
| Trade debts | 44 | €19,615 | €19,193 | -€421 | -2.1% |
| Suppliers | 440/4 | €19,615 | €19,193 | -€421 | -2.1% |
| Taxes, remuneration and social security | 45 | €67,307 | €73,516 | +€6,208 | +9.2% |
| Taxes | 450/3 | €26,534 | €35,812 | +€9,278 | +35.0% |
| Remuneration and social security | 454/9 | €40,773 | €37,703 | -€3,070 | -7.5% |
| Other amounts payable | 47/48 | €43,700 | €65,550 | +€21,850 | +50.0% |
| Remuneration, social security and pensions | 62 | €178,603 | €180,466 | +€1,863 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,016 | €31,026 | +€1,011 | +3.4% |
| Other operating charges | 640/8 | €8,273 | €3,199 | -€5,074 | -61.3% |
| Gross operating margin | 9900 | €312,422 | €365,575 | +€53,153 | +17.0% |
| Operating profit (loss) | 9901 | €95,530 | €150,883 | +€55,353 | +57.9% |
| Financial income | 75/76B | €3,167 | €5 | -€3,163 | -99.9% |
| Recurring financial income | 75 | €3,167 | €5 | -€3,163 | -99.9% |
| Financial charges | 65/66B | €862 | €1,503 | +€641 | +74.3% |
| Recurring financial charges | 65 | €862 | €1,503 | +€641 | +74.3% |
| Profit (loss) for the period before taxes | 9903 | €97,835 | €149,385 | +€51,550 | +52.7% |
| Income taxes | 67/77 | €28,777 | €46,013 | +€17,236 | +59.9% |
| Profit (loss) for the period | 9904 | €69,059 | €103,372 | +€34,314 | +49.7% |
| Profit (loss) for the period to be appropriated | 9905 | €69,059 | €103,372 | +€34,314 | +49.7% |
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 10 October 2026 via checked.be.