MARKTZICHT: 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.
MARKTZICHT
Largest movements
- Receivables after one year -€47,749
no longer reported in 2025 (was €47,749)
- Receivables within one year +€38,891
up €38,891 (+32.8%), from €118,701 to €157,593
of which Trade receivables: +€20,175
- Cash +€25,828
up €25,828 (+21.2%), from €121,663 to €147,490
mainly Receivables after one year (+€47,749) and Net result for the year (+€41,118)
- Tangible fixed assets -€19,991
down €19,991 (-41.3%), from €48,362 to €28,372
of which Other tangible fixed assets: -€15,333
- Stocks and contracts -€10,444
down €10,444 (-15.6%), from €66,867 to €56,423
- Trade debts -€38,044
down €38,044 (-24.1%), from €157,704 to €119,660
- Other debts +€33,549
up €33,549 (+87.0%), from €38,543 to €72,092
- Reserves +€21,118
up €21,118 (+40.0%), from €52,771 to €73,889
- Tax, wage and social debts -€18,168
down €18,168 (-14.9%), from €121,989 to €103,821
of which Taxes: -€12,357
- Current portion of long-term debt -€15,839
no longer reported in 2025 (was €15,839)
- Staff costs -€27,067
down €27,067 (-4.9%), from €547,641 to €520,575
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 | €406,992 | €395,800 | -€11,192 | -2.7% |
| Fixed assets | 21/28 | €48,362 | €28,372 | -€19,991 | -41.3% |
| Tangible fixed assets | 22/27 | €48,362 | €28,372 | -€19,991 | -41.3% |
| Plant, machinery and equipment | 23 | €7,940 | €5,233 | -€2,707 | -34.1% |
| Furniture and vehicles | 24 | €4,680 | €2,730 | -€1,950 | -41.7% |
| Other tangible fixed assets | 26 | €35,742 | €20,409 | -€15,333 | -42.9% |
| Current assets | 29/58 | €358,629 | €367,428 | +€8,799 | +2.5% |
| Amounts receivable after more than one year | 29 | €47,749 | - | -€47,749 | |
| Other amounts receivable | 291 | €47,749 | - | -€47,749 | |
| Stocks and contracts in progress | 3 | €66,867 | €56,423 | -€10,444 | -15.6% |
| Stocks | 30/36 | €66,867 | €56,423 | -€10,444 | -15.6% |
| Amounts receivable within one year | 40/41 | €118,701 | €157,593 | +€38,891 | +32.8% |
| Trade receivables | 40 | €19,780 | €39,954 | +€20,175 | +102.0% |
| Other amounts receivable | 41 | €98,922 | €117,638 | +€18,717 | +18.9% |
| Cash at bank and in hand | 54/58 | €121,663 | €147,490 | +€25,828 | +21.2% |
| Deferred charges and accrued income | 490/1 | €3,648 | €5,921 | +€2,273 | +62.3% |
| Total equity and liabilities | 10/49 | €406,992 | €395,800 | -€11,192 | -2.7% |
| Equity | 10/15 | €71,371 | €92,489 | +€21,118 | +29.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €52,771 | €73,889 | +€21,118 | +40.0% |
| Distributable reserves | 133 | €52,771 | €73,889 | +€21,118 | +40.0% |
| Amounts payable | 17/49 | €335,620 | €303,310 | -€32,310 | -9.6% |
| Amounts payable within one year | 42/48 | €334,074 | €295,573 | -€38,501 | -11.5% |
| Current portion of amounts payable after more than one year | 42 | €15,839 | - | -€15,839 | |
| Trade debts | 44 | €157,704 | €119,660 | -€38,044 | -24.1% |
| Suppliers | 440/4 | €157,704 | €119,660 | -€38,044 | -24.1% |
| Taxes, remuneration and social security | 45 | €121,989 | €103,821 | -€18,168 | -14.9% |
| Taxes | 450/3 | €20,259 | €7,902 | -€12,357 | -61.0% |
| Remuneration and social security | 454/9 | €101,730 | €95,918 | -€5,811 | -5.7% |
| Other amounts payable | 47/48 | €38,543 | €72,092 | +€33,549 | +87.0% |
| Accrued charges and deferred income | 492/3 | €1,546 | €7,737 | +€6,191 | +400.5% |
| Remuneration, social security and pensions | 62 | €547,641 | €520,575 | -€27,067 | -4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,006 | €21,078 | +€72 | +0.3% |
| Other operating charges | 640/8 | €2,495 | €8,352 | +€5,858 | +234.8% |
| Gross operating margin | 9900 | €599,571 | €598,688 | -€883 | -0.1% |
| Operating profit (loss) | 9901 | €28,429 | €48,683 | +€20,255 | +71.2% |
| Financial income | 75/76B | €941 | €366 | -€575 | -61.1% |
| Recurring financial income | 75 | €941 | €366 | -€575 | -61.1% |
| Financial charges | 65/66B | €8,657 | €7,482 | -€1,176 | -13.6% |
| Recurring financial charges | 65 | €8,657 | €7,482 | -€1,176 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €20,712 | €41,567 | +€20,855 | +100.7% |
| Income taxes | 67/77 | €0 | €449 | +€449 | +4492900.0% |
| Profit (loss) for the period | 9904 | €20,712 | €41,118 | +€20,406 | +98.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,712 | €41,118 | +€20,406 | +98.5% |
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 9 October 2026 via checked.be.