MANAGEMENT et PEOPLE DEVELOPMENT: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
MANAGEMENT et PEOPLE DEVELOPMENT
Largest movements
- Receivables within one year +€29,116
up €29,116 (+16.5%), from €175,989 to €205,105
of which Other amounts receivable: +€19,877
- Cash -€28,463
down €28,463 (-23.1%), from €123,057 to €94,593
mainly Net result for the year (-€59,188) and Receivables within one year (-€29,116)
- Deferred charges and accrued income +€7,391
up €7,391 (+108%), from €6,842 to €14,233
- Trade debts +€73,705
up €73,705 (+661%), from €11,152 to €84,856
- Profit (loss) carried forward -€59,188
down €59,188 (-13.7%), from €432,049 to €372,861
- Debts after one year -€11,077
down €11,077 (-34.1%), from €32,460 to €21,383
- Tax, wage and social debts +€9,017
up €9,017 (+244%), from €3,692 to €12,709
- Other debts -€8,300
down €8,300 (-80.9%), from €10,254 to €1,954
- Gross operating margin -€72,342
down €72,342, from €46,870 to -€25,472
- Write-downs -€19,620
down €19,620 (-95.6%), from €20,518 to €899
- Taxes -€12,028
down €12,028 (-98.7%), from €12,187 to €159
- Depreciation +€5,228
up €5,228 (+22.0%), from €23,806 to €29,034
- Financial charges +€847
up €847 (+41.5%), from €2,042 to €2,890
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 | €563,603 | €568,155 | +€4,552 | +0.8% |
| Fixed assets | 21/28 | €236,920 | €233,348 | -€3,573 | -1.5% |
| Tangible fixed assets | 22/27 | €236,760 | €233,187 | -€3,573 | -1.5% |
| Land and buildings | 22 | €864 | €864 | = | 0.0% |
| Furniture and vehicles | 24 | €86,385 | €65,181 | -€21,204 | -24.5% |
| Other tangible fixed assets | 26 | €149,511 | €167,142 | +€17,631 | +11.8% |
| Financial fixed assets | 28 | €161 | €161 | = | 0.0% |
| Current assets | 29/58 | €326,683 | €334,807 | +€8,125 | +2.5% |
| Amounts receivable within one year | 40/41 | €175,989 | €205,105 | +€29,116 | +16.5% |
| Trade receivables | 40 | €162,129 | €171,368 | +€9,239 | +5.7% |
| Other amounts receivable | 41 | €13,860 | €33,737 | +€19,877 | +143% |
| Current investments | 50/53 | €20,795 | €20,876 | +€81 | +0.4% |
| Cash at bank and in hand | 54/58 | €123,057 | €94,593 | -€28,463 | -23.1% |
| Deferred charges and accrued income | 490/1 | €6,842 | €14,233 | +€7,391 | +108% |
| Total equity and liabilities | 10/49 | €563,603 | €568,155 | +€4,552 | +0.8% |
| Equity | 10/15 | €495,365 | €436,176 | -€59,188 | -11.9% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €57,110 | €57,110 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €38,360 | €38,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €432,049 | €372,861 | -€59,188 | -13.7% |
| Amounts payable | 17/49 | €68,239 | €131,979 | +€63,740 | +93.4% |
| Amounts payable after more than one year | 17 | €32,460 | €21,383 | -€11,077 | -34.1% |
| Financial debts | 170/4 | €32,460 | €21,383 | -€11,077 | -34.1% |
| Amounts payable within one year | 42/48 | €35,779 | €110,596 | +€74,817 | +209% |
| Current portion of amounts payable after more than one year | 42 | €10,681 | €11,077 | +€395 | +3.7% |
| Trade debts | 44 | €11,152 | €84,856 | +€73,705 | +661% |
| Suppliers | 440/4 | €11,152 | €84,856 | +€73,705 | +661% |
| Taxes, remuneration and social security | 45 | €3,692 | €12,709 | +€9,017 | +244% |
| Taxes | 450/3 | €3,692 | €12,709 | +€9,017 | +244% |
| Other amounts payable | 47/48 | €10,254 | €1,954 | -€8,300 | -80.9% |
| Non-recurring operating income | 76A | €6,500 | - | -€6,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,806 | €29,034 | +€5,228 | +22.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €20,518 | €899 | -€19,620 | -95.6% |
| Other operating charges | 640/8 | €1,262 | €877 | -€385 | -30.5% |
| Non-recurring operating charges | 66A | €2,063 | - | -€2,063 | |
| Gross operating margin | 9900 | €46,870 | -€25,472 | -€72,342 | |
| Operating profit (loss) | 9901 | -€779 | -€56,282 | -€55,503 | -7,128% |
| Financial income | 75/76B | €169 | €142 | -€27 | -15.9% |
| Recurring financial income | 75 | €169 | €142 | -€27 | -15.9% |
| Financial charges | 65/66B | €2,042 | €2,890 | +€847 | +41.5% |
| Recurring financial charges | 65 | €2,042 | €2,890 | +€847 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | -€2,652 | -€59,029 | -€56,377 | -2,126% |
| Income taxes | 67/77 | €12,187 | €159 | -€12,028 | -98.7% |
| Profit (loss) for the period | 9904 | -€14,839 | -€59,188 | -€44,349 | -299% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,839 | -€59,188 | -€44,349 | -299% |
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 1 November 2026 via checked.be.