modus operandi: 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.
modus operandi
Largest movements
- Receivables within one year -€42,979
down €42,979 (-10.1%), from €426,750 to €383,771
of which Trade receivables: -€67,525
- Current investments +€6,091
up €6,091 (+20.0%), from €30,500 to €36,591
- Tax, wage and social debts +€48,611
up €48,611 (+16.2%), from €300,157 to €348,769
of which Taxes: +€42,207
- Profit (loss) carried forward -€40,744
down €40,744 (-228.6%), from -€17,823 to -€58,567
- Accrued charges and deferred income -€28,801
down €28,801 (-76.8%), from €37,519 to €8,718
- Short-term financial debts -€24,672
down €24,672 (-15.0%), from €163,994 to €139,322
- Other debts +€11,000
new in 2024: €11,000
- Staff costs +€133,382
up €133,382 (+5.3%), from €2.5m to €2.7m
- Taxes -€32,642
down €32,642 (-94.2%), from €34,642 to €2,000
- Gross operating margin -€31,378
down €31,378 (-1.2%), from €2.7m to €2.7m
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €547,648 | €511,241 | -€36,406 | -6.6% |
| Fixed assets | 21/28 | €20,529 | €19,597 | -€932 | -4.5% |
| Tangible fixed assets | 22/27 | €20,156 | €19,224 | -€932 | -4.6% |
| Furniture and vehicles | 24 | €20,156 | €19,224 | -€932 | -4.6% |
| Financial fixed assets | 28 | €373 | €373 | = | 0.0% |
| Current assets | 29/58 | €527,118 | €491,644 | -€35,474 | -6.7% |
| Amounts receivable within one year | 40/41 | €426,750 | €383,771 | -€42,979 | -10.1% |
| Trade receivables | 40 | €416,030 | €348,505 | -€67,525 | -16.2% |
| Other amounts receivable | 41 | €10,720 | €35,265 | +€24,546 | +229.0% |
| Current investments | 50/53 | €30,500 | €36,591 | +€6,091 | +20.0% |
| Cash at bank and in hand | 54/58 | €69,869 | €71,283 | +€1,414 | +2.0% |
| Total equity and liabilities | 10/49 | €547,648 | €511,241 | -€36,406 | -6.6% |
| Equity | 10/15 | €44,177 | €3,433 | -€40,744 | -92.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €42,000 | €42,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,823 | -€58,567 | -€40,744 | -228.6% |
| Amounts payable | 17/49 | €503,471 | €507,809 | +€4,337 | +0.9% |
| Amounts payable within one year | 42/48 | €465,952 | €499,090 | +€33,138 | +7.1% |
| Financial debts | 43 | €163,994 | €139,322 | -€24,672 | -15.0% |
| Credit institutions | 430/8 | €163,994 | €139,322 | -€24,672 | -15.0% |
| Trade debts | 44 | €1,801 | €0 | -€1,801 | -100.0% |
| Suppliers | 440/4 | €1,801 | €0 | -€1,801 | -100.0% |
| Taxes, remuneration and social security | 45 | €300,157 | €348,769 | +€48,611 | +16.2% |
| Taxes | 450/3 | €79,870 | €122,077 | +€42,207 | +52.8% |
| Remuneration and social security | 454/9 | €220,288 | €226,692 | +€6,404 | +2.9% |
| Other amounts payable | 47/48 | - | €11,000 | +€11,000 | |
| Accrued charges and deferred income | 492/3 | €37,519 | €8,718 | -€28,801 | -76.8% |
| Non-recurring operating income | 76A | - | €10,679 | +€10,679 | |
| Remuneration, social security and pensions | 62 | €2,532,229 | €2,665,611 | +€133,382 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,070 | €5,638 | +€1,568 | +38.5% |
| Other operating charges | 640/8 | €17,529 | €17,272 | -€257 | -1.5% |
| Non-recurring operating charges | 66A | €56,521 | €0 | -€56,521 | -100.0% |
| Gross operating margin | 9900 | €2,697,230 | €2,665,853 | -€31,378 | -1.2% |
| Operating profit (loss) | 9901 | €86,882 | -€22,667 | -€109,549 | |
| Financial charges | 65/66B | €7,191 | €16,076 | +€8,885 | +123.6% |
| Recurring financial charges | 65 | €7,191 | €16,076 | +€8,885 | +123.6% |
| Profit (loss) for the period before taxes | 9903 | €79,691 | -€38,744 | -€118,435 | |
| Income taxes | 67/77 | €34,642 | €2,000 | -€32,642 | -94.2% |
| Profit (loss) for the period | 9904 | €45,049 | -€40,744 | -€85,793 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,049 | -€40,744 | -€85,793 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.