MANUFACTURING IMPROVEMENT LEVEL EXPERT: 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.
MANUFACTURING IMPROVEMENT LEVEL EXPERT
Largest movements
- Receivables within one year +€13,489
up €13,489 (+36.0%), from €37,445 to €50,934
of which Other amounts receivable: +€10,974
- Cash -€12,915
down €12,915 (-25.2%), from €51,280 to €38,365
mainly Net result for the year (-€18,540) and Receivables within one year (-€13,489)
- Tangible fixed assets -€12,062
down €12,062 (-50.4%), from €23,949 to €11,887
- Current investments -€9,925
down €9,925 (-12.4%), from €80,000 to €70,075
- Deferred charges and accrued income +€3,446
new in 2025: €3,446
- Profit (loss) carried forward -€18,540
down €18,540 (-28.6%), from €64,867 to €46,327
- Current portion of long-term debt +€3,646
up €3,646 (+72.9%), from €5,000 to €8,646
- Tax, wage and social debts -€2,771
down €2,771 (-99.0%), from €2,799 to €28
- Gross operating margin -€40,511
down €40,511, from €33,882 to -€6,630
- Taxes -€7,239
down €7,239 (-98.4%), from €7,354 to €115
- Depreciation -€4,093
down €4,093 (-25.3%), from €16,155 to €12,062
- Financial income -€542
down €542 (-22.2%), from €2,437 to €1,895
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.
Derived cash bridge
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 | €193,006 | €175,038 | -€17,967 | -9.3% |
| Fixed assets | 21/28 | €24,280 | €12,218 | -€12,062 | -49.7% |
| Tangible fixed assets | 22/27 | €23,949 | €11,887 | -€12,062 | -50.4% |
| Other tangible fixed assets | 26 | €23,949 | €11,887 | -€12,062 | -50.4% |
| Financial fixed assets | 28 | €332 | €332 | = | 0.0% |
| Current assets | 29/58 | €168,725 | €162,820 | -€5,905 | -3.5% |
| Amounts receivable within one year | 40/41 | €37,445 | €50,934 | +€13,489 | +36.0% |
| Trade receivables | 40 | €18,032 | €20,547 | +€2,515 | +13.9% |
| Other amounts receivable | 41 | €19,413 | €30,387 | +€10,974 | +56.5% |
| Current investments | 50/53 | €80,000 | €70,075 | -€9,925 | -12.4% |
| Cash at bank and in hand | 54/58 | €51,280 | €38,365 | -€12,915 | -25.2% |
| Deferred charges and accrued income | 490/1 | - | €3,446 | +€3,446 | |
| Total equity and liabilities | 10/49 | €193,006 | €175,038 | -€17,967 | -9.3% |
| Equity | 10/15 | €181,912 | €163,372 | -€18,540 | -10.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €98,445 | €98,445 | = | 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% |
| Distributable reserves | 133 | €96,585 | €96,585 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,867 | €46,327 | -€18,540 | -28.6% |
| Amounts payable | 17/49 | €11,094 | €11,667 | +€572 | +5.2% |
| Amounts payable within one year | 42/48 | €11,094 | €11,667 | +€572 | +5.2% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €8,646 | +€3,646 | +72.9% |
| Trade debts | 44 | €3,000 | €2,992 | -€8 | -0.3% |
| Suppliers | 440/4 | €3,000 | €2,992 | -€8 | -0.3% |
| Taxes, remuneration and social security | 45 | €2,799 | €28 | -€2,771 | -99.0% |
| Taxes | 450/3 | €2,799 | €28 | -€2,771 | -99.0% |
| Other amounts payable | 47/48 | €295 | - | -€295 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,155 | €12,062 | -€4,093 | -25.3% |
| Other operating charges | 640/8 | €1,490 | €1,442 | -€48 | -3.2% |
| Gross operating margin | 9900 | €33,882 | -€6,630 | -€40,511 | |
| Operating profit (loss) | 9901 | €16,236 | -€20,134 | -€36,370 | |
| Financial income | 75/76B | €2,437 | €1,895 | -€542 | -22.2% |
| Recurring financial income | 75 | €2,437 | €1,895 | -€542 | -22.2% |
| Financial charges | 65/66B | €335 | €187 | -€149 | -44.4% |
| Recurring financial charges | 65 | €335 | €187 | -€149 | -44.4% |
| Profit (loss) for the period before taxes | 9903 | €18,338 | -€18,425 | -€36,763 | |
| Income taxes | 67/77 | €7,354 | €115 | -€7,239 | -98.4% |
| Profit (loss) for the period | 9904 | €10,984 | -€18,540 | -€29,524 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,984 | -€18,540 | -€29,524 |
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 30 October 2026 via checked.be.