MODULE: what changed
Two fiscal 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.
MODULE
Largest movements
- Receivables within one year +€56,791
up €56,791 (+163.5%), from €34,725 to €91,517
of which Trade receivables: +€48,622
- Tangible fixed assets -€16,481
down €16,481 (-45.9%), from €35,884 to €19,403
of which Furniture and vehicles: -€16,438
- Cash +€11,467
up €11,467 (+44.6%), from €25,683 to €37,149
mainly Net result for the year (+€32,925) and Trade debts (+€17,555)
- Stocks and contracts -€10,616
down €10,616 (-8.2%), from €129,729 to €119,113
- Profit (loss) carried forward +€32,925
up €32,925 (+24.6%), from €133,878 to €166,803
- Trade debts +€17,555
up €17,555 (+55.1%), from €31,878 to €49,432
- Debts after one year -€10,320
down €10,320 (-74.4%), from €13,872 to €3,552
- Current portion of long-term debt -€3,092
down €3,092 (-23.1%), from €13,412 to €10,320
- Gross operating margin +€44,450
up €44,450 (+38.5%), from €115,497 to €159,947
- Staff costs +€38,344
up €38,344 (+61.0%), from €62,839 to €101,183
- Depreciation -€6,096
down €6,096 (-38.2%), from €15,949 to €9,854
- Taxes +€4,637
up €4,637 (+115.5%), from €4,014 to €8,651
- Financial charges -€1,719
down €1,719 (-46.1%), from €3,726 to €2,007
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 | €227,094 | €268,292 | +€41,197 | +18.1% |
| Fixed assets | 21/28 | €36,958 | €20,476 | -€16,481 | -44.6% |
| Tangible fixed assets | 22/27 | €35,884 | €19,403 | -€16,481 | -45.9% |
| Land and buildings | 22 | €7,441 | €6,295 | -€1,146 | -15.4% |
| Plant, machinery and equipment | 23 | €5,197 | €6,300 | +€1,103 | +21.2% |
| Furniture and vehicles | 24 | €23,246 | €6,807 | -€16,438 | -70.7% |
| Financial fixed assets | 28 | €1,074 | €1,074 | = | 0.0% |
| Current assets | 29/58 | €190,137 | €247,815 | +€57,679 | +30.3% |
| Stocks and contracts in progress | 3 | €129,729 | €119,113 | -€10,616 | -8.2% |
| Stocks | 30/36 | €129,729 | €119,113 | -€10,616 | -8.2% |
| Amounts receivable within one year | 40/41 | €34,725 | €91,517 | +€56,791 | +163.5% |
| Trade receivables | 40 | €21,492 | €70,114 | +€48,622 | +226.2% |
| Other amounts receivable | 41 | €13,233 | €21,403 | +€8,169 | +61.7% |
| Cash at bank and in hand | 54/58 | €25,683 | €37,149 | +€11,467 | +44.6% |
| Deferred charges and accrued income | 490/1 | - | €37 | +€37 | |
| Total equity and liabilities | 10/49 | €227,094 | €268,292 | +€41,197 | +18.1% |
| Equity | 10/15 | €161,146 | €194,071 | +€32,925 | +20.4% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €2,479 | €2,479 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | - | -€2,479 | |
| Reserves not available under the articles | 1311 | €2,479 | - | -€2,479 | |
| Distributable reserves | 133 | - | €2,479 | +€2,479 | |
| Profit (loss) carried forward | 14 | €133,878 | €166,803 | +€32,925 | +24.6% |
| Amounts payable | 17/49 | €65,948 | €74,220 | +€8,272 | +12.5% |
| Amounts payable after more than one year | 17 | €13,872 | €3,552 | -€10,320 | -74.4% |
| Financial debts | 170/4 | €13,872 | €3,552 | -€10,320 | -74.4% |
| Amounts payable within one year | 42/48 | €52,076 | €70,668 | +€18,592 | +35.7% |
| Current portion of amounts payable after more than one year | 42 | €13,412 | €10,320 | -€3,092 | -23.1% |
| Trade debts | 44 | €31,878 | €49,432 | +€17,555 | +55.1% |
| Suppliers | 440/4 | €31,878 | €49,432 | +€17,555 | +55.1% |
| Taxes, remuneration and social security | 45 | €4,642 | €6,791 | +€2,149 | +46.3% |
| Remuneration and social security | 454/9 | €4,642 | €6,791 | +€2,149 | +46.3% |
| Other amounts payable | 47/48 | €2,144 | €4,125 | +€1,981 | +92.4% |
| Remuneration, social security and pensions | 62 | €62,839 | €101,183 | +€38,344 | +61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,949 | €9,854 | -€6,096 | -38.2% |
| Other operating charges | 640/8 | €6,937 | €5,330 | -€1,608 | -23.2% |
| Gross operating margin | 9900 | €115,497 | €159,947 | +€44,450 | +38.5% |
| Operating profit (loss) | 9901 | €29,771 | €43,581 | +€13,809 | +46.4% |
| Financial income | 75/76B | €5 | €2 | -€3 | -54.6% |
| Recurring financial income | 75 | €5 | €2 | -€3 | -54.6% |
| Financial charges | 65/66B | €3,726 | €2,007 | -€1,719 | -46.1% |
| Recurring financial charges | 65 | €3,726 | €2,007 | -€1,719 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | €26,050 | €41,576 | +€15,526 | +59.6% |
| Income taxes | 67/77 | €4,014 | €8,651 | +€4,637 | +115.5% |
| Profit (loss) for the period | 9904 | €22,036 | €32,925 | +€10,889 | +49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,036 | €32,925 | +€10,889 | +49.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.