Multi-Post: 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.
Multi-Post
Largest movements
- Receivables within one year -€706,660
down €706,660 (-47.2%), from €1.5m to €791,538
of which Trade receivables: -€471,142
- Cash +€439,193
up €439,193 (+320.4%), from €137,096 to €576,289
mainly Receivables within one year (+€706,660) and Net result for the year (+€85,126)
- Stocks and contracts -€43,754
down €43,754 (-84.4%), from €51,847 to €8,093
- Advances received -€237,960
down €237,960 (-66.0%), from €360,460 to €122,500
- Trade debts -€146,953
down €146,953 (-52.0%), from €282,639 to €135,686
- Profit (loss) carried forward +€85,126
up €85,126 (+27.1%), from -€313,627 to -€228,501
- Write-downs -€40,045
down €40,045 (-70.3%), from €56,966 to €16,921
- Financial income -€22,376
down €22,376 (-99.3%), from €22,545 to €169
- Staff costs +€9,306
up €9,306 (+6.6%), from €141,170 to €150,476
- Depreciation +€3,692
up €3,692 (+65.1%), from €5,668 to €9,360
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 | €1,821,282 | €1,514,089 | -€307,193 | -16.9% |
| Fixed assets | 21/28 | €44,361 | €37,591 | -€6,770 | -15.3% |
| Intangible fixed assets | 21 | €411 | €141 | -€270 | -65.7% |
| Tangible fixed assets | 22/27 | €26,729 | €20,229 | -€6,500 | -24.3% |
| Plant, machinery and equipment | 23 | €18,171 | €14,631 | -€3,540 | -19.5% |
| Furniture and vehicles | 24 | €6,059 | €4,560 | -€1,499 | -24.7% |
| Other tangible fixed assets | 26 | €2,499 | €1,038 | -€1,461 | -58.5% |
| Financial fixed assets | 28 | €17,221 | €17,221 | = | 0.0% |
| Current assets | 29/58 | €1,776,921 | €1,476,498 | -€300,423 | -16.9% |
| Stocks and contracts in progress | 3 | €51,847 | €8,093 | -€43,754 | -84.4% |
| Stocks | 30/36 | €51,847 | €8,093 | -€43,754 | -84.4% |
| Amounts receivable within one year | 40/41 | €1,498,198 | €791,538 | -€706,660 | -47.2% |
| Trade receivables | 40 | €1,124,559 | €653,417 | -€471,142 | -41.9% |
| Other amounts receivable | 41 | €373,639 | €138,121 | -€235,518 | -63.0% |
| Cash at bank and in hand | 54/58 | €137,096 | €576,289 | +€439,193 | +320.4% |
| Deferred charges and accrued income | 490/1 | €89,780 | €100,578 | +€10,798 | +12.0% |
| Total equity and liabilities | 10/49 | €1,821,282 | €1,514,089 | -€307,193 | -16.9% |
| Equity | 10/15 | €623,895 | €709,021 | +€85,126 | +13.6% |
| Contributions | 10/11 | €936,102 | €936,102 | = | 0.0% |
| Capital | 10 | €936,102 | €936,102 | = | 0.0% |
| Issued capital | 100 | €936,102 | €936,102 | = | 0.0% |
| Reserves | 13 | €1,420 | €1,420 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,420 | €1,420 | = | 0.0% |
| Legal reserve | 130 | €1,420 | €1,420 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€313,627 | -€228,501 | +€85,126 | +27.1% |
| Amounts payable | 17/49 | €1,197,387 | €805,068 | -€392,319 | -32.8% |
| Amounts payable within one year | 42/48 | €739,543 | €342,844 | -€396,699 | -53.6% |
| Trade debts | 44 | €282,639 | €135,686 | -€146,953 | -52.0% |
| Suppliers | 440/4 | €282,639 | €135,686 | -€146,953 | -52.0% |
| Advances received on contracts in progress | 46 | €360,460 | €122,500 | -€237,960 | -66.0% |
| Taxes, remuneration and social security | 45 | €93,193 | €81,407 | -€11,786 | -12.6% |
| Taxes | 450/3 | €73,671 | €60,785 | -€12,886 | -17.5% |
| Remuneration and social security | 454/9 | €19,522 | €20,622 | +€1,100 | +5.6% |
| Other amounts payable | 47/48 | €3,251 | €3,251 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €457,844 | €462,223 | +€4,380 | +1.0% |
| Remuneration, social security and pensions | 62 | €141,170 | €150,476 | +€9,306 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,668 | €9,360 | +€3,692 | +65.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €56,966 | €16,921 | -€40,045 | -70.3% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €296,871 | €298,611 | +€1,741 | +0.6% |
| Operating profit (loss) | 9901 | €92,099 | €120,856 | +€28,757 | +31.2% |
| Financial income | 75/76B | €22,545 | €169 | -€22,376 | -99.3% |
| Recurring financial income | 75 | €22,545 | €169 | -€22,376 | -99.3% |
| Financial charges | 65/66B | €1,704 | €2,080 | +€376 | +22.1% |
| Recurring financial charges | 65 | €1,704 | €2,080 | +€376 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €112,940 | €118,944 | +€6,004 | +5.3% |
| Income taxes | 67/77 | €32,152 | €33,818 | +€1,666 | +5.2% |
| Profit (loss) for the period | 9904 | €80,788 | €85,126 | +€4,338 | +5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €80,788 | €85,126 | +€4,338 | +5.4% |
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 30 September 2026 via checked.be.