MONITOR: 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.
MONITOR
Largest movements
- Cash -€48,498
down €48,498 (-22.7%), from €213,299 to €164,802
mainly Net result for the year (-€57,588) and Debts after one year (-€57,378)
- Tangible fixed assets -€41,165
down €41,165 (-9.7%), from €422,730 to €381,566
of which Land and buildings: -€27,620
- Receivables within one year -€17,340
down €17,340 (-4.8%), from €358,922 to €341,582
of which Other amounts receivable: -€11,261
- Debts after one year -€57,378
down €57,378 (-17.8%), from €322,207 to €264,830
- Profit (loss) carried forward -€56,715
new in 2025: -€56,715
- Trade debts +€22,245
up €22,245 (+17.3%), from €128,513 to €150,759
- Tax, wage and social debts -€19,270
down €19,270 (-18.3%), from €105,410 to €86,140
of which Taxes: -€11,699
- Gross operating margin -€71,900
down €71,900 (-9.8%), from €736,473 to €664,574
- Staff costs -€18,773
down €18,773 (-2.8%), from €666,378 to €647,605
- Taxes +€8,967
up €8,967 (+1234.4%), from €726 to €9,693
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 | €999,536 | €889,130 | -€110,405 | -11.0% |
| Fixed assets | 21/28 | €423,911 | €382,746 | -€41,165 | -9.7% |
| Tangible fixed assets | 22/27 | €422,730 | €381,566 | -€41,165 | -9.7% |
| Land and buildings | 22 | €369,771 | €342,151 | -€27,620 | -7.5% |
| Plant, machinery and equipment | 23 | €1,800 | €1,800 | = | 0.0% |
| Furniture and vehicles | 24 | €51,159 | €37,615 | -€13,545 | -26.5% |
| Financial fixed assets | 28 | €1,181 | €1,181 | = | 0.0% |
| Current assets | 29/58 | €575,625 | €506,384 | -€69,241 | -12.0% |
| Amounts receivable within one year | 40/41 | €358,922 | €341,582 | -€17,340 | -4.8% |
| Trade receivables | 40 | €337,599 | €331,520 | -€6,079 | -1.8% |
| Other amounts receivable | 41 | €21,323 | €10,063 | -€11,261 | -52.8% |
| Cash at bank and in hand | 54/58 | €213,299 | €164,802 | -€48,498 | -22.7% |
| Deferred charges and accrued income | 490/1 | €3,403 | - | -€3,403 | |
| Total equity and liabilities | 10/49 | €999,536 | €889,130 | -€110,405 | -11.0% |
| Equity | 10/15 | €263,812 | €206,224 | -€57,588 | -21.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €245,262 | €244,390 | -€872 | -0.4% |
| Non-distributable reserves | 130/1 | €10,855 | €10,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,855 | €10,855 | = | 0.0% |
| Distributable reserves | 133 | €234,407 | €233,535 | -€872 | -0.4% |
| Profit (loss) carried forward | 14 | - | -€56,715 | -€56,715 | |
| Amounts payable | 17/49 | €735,723 | €682,906 | -€52,817 | -7.2% |
| Amounts payable after more than one year | 17 | €322,207 | €264,830 | -€57,378 | -17.8% |
| Financial debts | 170/4 | €322,207 | €264,830 | -€57,378 | -17.8% |
| Amounts payable within one year | 42/48 | €413,516 | €418,076 | +€4,560 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €107,944 | €109,968 | +€2,024 | +1.9% |
| Trade debts | 44 | €128,513 | €150,759 | +€22,245 | +17.3% |
| Suppliers | 440/4 | €128,513 | €150,759 | +€22,245 | +17.3% |
| Taxes, remuneration and social security | 45 | €105,410 | €86,140 | -€19,270 | -18.3% |
| Taxes | 450/3 | €65,562 | €53,863 | -€11,699 | -17.8% |
| Remuneration and social security | 454/9 | €39,848 | €32,277 | -€7,571 | -19.0% |
| Other amounts payable | 47/48 | €71,649 | €71,210 | -€439 | -0.6% |
| Non-recurring operating income | 76A | - | €2,751 | +€2,751 | |
| Remuneration, social security and pensions | 62 | €666,378 | €647,605 | -€18,773 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,144 | €39,784 | -€7,360 | -15.6% |
| Other operating charges | 640/8 | €6,772 | €7,584 | +€813 | +12.0% |
| Non-recurring operating charges | 66A | - | €6,032 | +€6,032 | |
| Gross operating margin | 9900 | €736,473 | €664,574 | -€71,900 | -9.8% |
| Operating profit (loss) | 9901 | €16,180 | -€36,432 | -€52,611 | |
| Financial income | 75/76B | €1,019 | €2,000 | +€981 | +96.3% |
| Recurring financial income | 75 | €1,019 | €2,000 | +€981 | +96.3% |
| Financial charges | 65/66B | €14,802 | €13,463 | -€1,340 | -9.1% |
| Recurring financial charges | 65 | €14,802 | €13,463 | -€1,340 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €2,396 | -€47,895 | -€50,290 | |
| Income taxes | 67/77 | €726 | €9,693 | +€8,967 | +1234.4% |
| Profit (loss) for the period | 9904 | €1,669 | -€57,588 | -€59,257 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,669 | -€57,588 | -€59,257 |
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 12 October 2026 via checked.be.