MANAGEMENT ET CONSEIL: what changed
MANAGEMENT ET CONSEIL
Largest movements
- Stocks and contracts -€24,313
down €24,313 (-17.9%), from €136,050 to €111,738
- Tangible fixed assets -€2,736
down €2,736 (-7.0%), from €38,921 to €36,185
of which Furniture and vehicles: -€2,164
- Profit (loss) carried forward -€31,616
down €31,616 (-43.5%), from €72,693 to €41,077
- Other debts +€8,538
up €8,538 (+21.2%), from €40,184 to €48,721
- Tax, wage and social debts -€4,978
down €4,978 (-64.6%), from €7,704 to €2,726
- Trade debts +€2,871
up €2,871 (+72.4%), from €3,966 to €6,837
- Other operating charges +€24,728
up €24,728 (+719%), from €3,438 to €28,166
- Taxes +€18,528
up €18,528, from -€18,133 to €395
- Gross operating margin -€4,721
down €4,721 (-99.2%), from €4,757 to €36
- Financial charges -€1,209
down €1,209 (-77.3%), from €1,565 to €356
- Depreciation -€279
down €279 (-9.3%), from €3,016 to €2,736
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 | €260,348 | €234,885 | -€25,463 | -9.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €38,921 | €36,185 | -€2,736 | -7.0% |
| Tangible fixed assets | 22/27 | €38,921 | €36,185 | -€2,736 | -7.0% |
| Plant, machinery and equipment | 23 | €728 | €486 | -€243 | -33.3% |
| Furniture and vehicles | 24 | €2,540 | €376 | -€2,164 | -85.2% |
| Other tangible fixed assets | 26 | €35,653 | €35,323 | -€330 | -0.9% |
| Current assets | 29/58 | €221,427 | €198,701 | -€22,726 | -10.3% |
| Stocks and contracts in progress | 3 | €136,050 | €111,738 | -€24,313 | -17.9% |
| Stocks | 30/36 | €136,050 | €111,738 | -€24,313 | -17.9% |
| Amounts receivable within one year | 40/41 | €60,127 | €59,882 | -€246 | -0.4% |
| Trade receivables | 40 | €4,497 | €4,000 | -€497 | -11.0% |
| Other amounts receivable | 41 | €55,631 | €55,882 | +€251 | +0.5% |
| Cash at bank and in hand | 54/58 | €21,697 | €23,924 | +€2,227 | +10.3% |
| Deferred charges and accrued income | 490/1 | €3,553 | €3,158 | -€395 | -11.1% |
| Total equity and liabilities | 10/49 | €260,348 | €234,885 | -€25,463 | -9.8% |
| Equity | 10/15 | €208,026 | €176,409 | -€31,616 | -15.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €114,872 | €114,872 | = | 0.0% |
| Distributable reserves | 133 | €114,872 | €114,872 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,693 | €41,077 | -€31,616 | -43.5% |
| Amounts payable | 17/49 | €52,322 | €58,476 | +€6,154 | +11.8% |
| Amounts payable within one year | 42/48 | €51,854 | €58,285 | +€6,431 | +12.4% |
| Trade debts | 44 | €3,966 | €6,837 | +€2,871 | +72.4% |
| Suppliers | 440/4 | €3,966 | €6,837 | +€2,871 | +72.4% |
| Taxes, remuneration and social security | 45 | €7,704 | €2,726 | -€4,978 | -64.6% |
| Taxes | 450/3 | €7,704 | €2,726 | -€4,978 | -64.6% |
| Other amounts payable | 47/48 | €40,184 | €48,721 | +€8,538 | +21.2% |
| Accrued charges and deferred income | 492/3 | €469 | €192 | -€277 | -59.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,016 | €2,736 | -€279 | -9.3% |
| Other operating charges | 640/8 | €3,438 | €28,166 | +€24,728 | +719% |
| Gross operating margin | 9900 | €4,757 | €36 | -€4,721 | -99.2% |
| Operating profit (loss) | 9901 | -€1,696 | -€30,866 | -€29,170 | -1,720% |
| Financial charges | 65/66B | €1,565 | €356 | -€1,209 | -77.3% |
| Recurring financial charges | 65 | €1,565 | €356 | -€1,209 | -77.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,261 | -€31,222 | -€27,961 | -857% |
| Income taxes | 67/77 | -€18,133 | €395 | +€18,528 | |
| Profit (loss) for the period | 9904 | €14,872 | -€31,616 | -€46,489 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,872 | -€31,616 | -€46,489 |
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.