MOVE ALL THE WAY: 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.
MOVE ALL THE WAY
Largest movements
- Cash -€134,071
down €134,071 (-70.9%), from €189,170 to €55,099
mainly Debts after one year (-€210,981) and Current investments (-€80,000)
- Current investments +€80,000
new in 2025: €80,000
- Intangible fixed assets -€35,305
down €35,305 (-25.6%), from €137,868 to €102,562
- Tangible fixed assets +€13,050
up €13,050 (+9.6%), from €135,412 to €148,462
of which Plant, machinery and equipment: +€14,615
- Stocks and contracts +€11,751
up €11,751 (+3.1%), from €376,015 to €387,766
- Debts after one year -€210,981
down €210,981 (-38.1%), from €553,998 to €343,017
- Reserves +€143,212
up €143,212 (+298%), from €48,109 to €191,322
- Staff costs -€120,182
down €120,182 (-22.7%), from €528,932 to €408,749
- Taxes +€12,293
up €12,293 (+59.9%), from €20,524 to €32,818
- Gross operating margin -€7,423
down €7,423 (-1.1%), from €667,139 to €659,716
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 | €1,034,127 | €966,488 | -€67,639 | -6.5% |
| Fixed assets | 21/28 | €273,280 | €254,625 | -€18,655 | -6.8% |
| Intangible fixed assets | 21 | €137,868 | €102,562 | -€35,305 | -25.6% |
| Tangible fixed assets | 22/27 | €135,412 | €148,462 | +€13,050 | +9.6% |
| Plant, machinery and equipment | 23 | €6,558 | €21,173 | +€14,615 | +223% |
| Furniture and vehicles | 24 | €128,855 | €122,263 | -€6,591 | -5.1% |
| Other tangible fixed assets | 26 | - | €5,026 | +€5,026 | |
| Financial fixed assets | 28 | - | €3,600 | +€3,600 | |
| Current assets | 29/58 | €760,847 | €711,863 | -€48,984 | -6.4% |
| Stocks and contracts in progress | 3 | €376,015 | €387,766 | +€11,751 | +3.1% |
| Stocks | 30/36 | €376,015 | €387,766 | +€11,751 | +3.1% |
| Amounts receivable within one year | 40/41 | €157,727 | €156,539 | -€1,189 | -0.8% |
| Trade receivables | 40 | €136,017 | €155,565 | +€19,548 | +14.4% |
| Other amounts receivable | 41 | €21,710 | €973 | -€20,737 | -95.5% |
| Current investments | 50/53 | - | €80,000 | +€80,000 | |
| Cash at bank and in hand | 54/58 | €189,170 | €55,099 | -€134,071 | -70.9% |
| Deferred charges and accrued income | 490/1 | €37,935 | €32,459 | -€5,476 | -14.4% |
| Total equity and liabilities | 10/49 | €1,034,127 | €966,488 | -€67,639 | -6.5% |
| Equity | 10/15 | €53,109 | €196,322 | +€143,212 | +270% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €48,109 | €191,322 | +€143,212 | +298% |
| Distributable reserves | 133 | €48,109 | €191,322 | +€143,212 | +298% |
| Amounts payable | 17/49 | €981,018 | €770,166 | -€210,851 | -21.5% |
| Amounts payable after more than one year | 17 | €553,998 | €343,017 | -€210,981 | -38.1% |
| Financial debts | 170/4 | €553,998 | €343,017 | -€210,981 | -38.1% |
| Amounts payable within one year | 42/48 | €380,163 | €376,907 | -€3,256 | -0.9% |
| Current portion of amounts payable after more than one year | 42 | €110,653 | €110,981 | +€328 | +0.3% |
| Financial debts | 43 | €20 | €20 | = | 0.0% |
| Credit institutions | 430/8 | €20 | €20 | = | 0.0% |
| Trade debts | 44 | €193,630 | €187,645 | -€5,985 | -3.1% |
| Suppliers | 440/4 | €193,630 | €187,645 | -€5,985 | -3.1% |
| Taxes, remuneration and social security | 45 | €75,860 | €78,194 | +€2,334 | +3.1% |
| Taxes | 450/3 | €20,524 | €24,576 | +€4,052 | +19.7% |
| Remuneration and social security | 454/9 | €55,336 | €53,618 | -€1,718 | -3.1% |
| Other amounts payable | 47/48 | - | €67 | +€67 | |
| Accrued charges and deferred income | 492/3 | €46,858 | €50,243 | +€3,385 | +7.2% |
| Remuneration, social security and pensions | 62 | €528,932 | €408,749 | -€120,182 | -22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,213 | €73,169 | +€2,956 | +4.2% |
| Other operating charges | 640/8 | €3,613 | €2,137 | -€1,477 | -40.9% |
| Gross operating margin | 9900 | €667,139 | €659,716 | -€7,423 | -1.1% |
| Operating profit (loss) | 9901 | €64,381 | €175,661 | +€111,281 | +173% |
| Financial income | 75/76B | €9,905 | €8,625 | -€1,280 | -12.9% |
| Recurring financial income | 75 | €9,905 | €8,625 | -€1,280 | -12.9% |
| Financial charges | 65/66B | €5,652 | €8,256 | +€2,604 | +46.1% |
| Recurring financial charges | 65 | €5,652 | €8,256 | +€2,604 | +46.1% |
| Profit (loss) for the period before taxes | 9903 | €68,634 | €176,030 | +€107,396 | +156% |
| Income taxes | 67/77 | €20,524 | €32,818 | +€12,293 | +59.9% |
| Profit (loss) for the period | 9904 | €48,109 | €143,212 | +€95,103 | +198% |
| Profit (loss) for the period to be appropriated | 9905 | €48,109 | €143,212 | +€95,103 | +198% |
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.