NA: 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.
NA
Largest movements
- Receivables within one year +€25,573
up €25,573 (+33.0%), from €77,577 to €103,150
of which Other amounts receivable: +€18,924
- Cash -€6,871
down €6,871 (-43.2%), from €15,897 to €9,026
mainly Receivables within one year (-€25,573) and Trade debts (-€9,191)
- Tangible fixed assets -€2,947
down €2,947 (-11.3%), from €26,145 to €23,198
of which Other tangible fixed assets: -€2,509
- Deferred charges and accrued income +€2,366
up €2,366 (+614.0%), from €385 to €2,751
- Tax, wage and social debts +€19,427
up €19,427 (+1125.2%), from €1,726 to €21,153
- Trade debts -€9,191
down €9,191 (-100.0%), from €9,191 to €0
- Profit (loss) carried forward +€7,749
up €7,749 (+40.5%), from -€19,113 to -€11,363
- Debts after one year -€6,133
down €6,133 (-8.9%), from €69,043 to €62,910
- Current portion of long-term debt +€3,695
new in 2025: €3,695
- Gross operating margin +€35,462
up €35,462, from -€14,742 to €20,720
- Financial charges +€7,801
up €7,801 (+792.9%), from €984 to €8,785
- Financial income -€372
down €372 (-96.6%), from €385 to €13
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 | €120,004 | €138,125 | +€18,121 | +15.1% |
| Fixed assets | 21/28 | €26,145 | €23,198 | -€2,947 | -11.3% |
| Tangible fixed assets | 22/27 | €26,145 | €23,198 | -€2,947 | -11.3% |
| Plant, machinery and equipment | 23 | €5,440 | €4,515 | -€926 | -17.0% |
| Furniture and vehicles | 24 | - | €489 | +€489 | |
| Other tangible fixed assets | 26 | €20,705 | €18,195 | -€2,509 | -12.1% |
| Current assets | 29/58 | €93,859 | €114,927 | +€21,068 | +22.4% |
| Amounts receivable within one year | 40/41 | €77,577 | €103,150 | +€25,573 | +33.0% |
| Trade receivables | 40 | €65,248 | €71,897 | +€6,649 | +10.2% |
| Other amounts receivable | 41 | €12,329 | €31,253 | +€18,924 | +153.5% |
| Cash at bank and in hand | 54/58 | €15,897 | €9,026 | -€6,871 | -43.2% |
| Deferred charges and accrued income | 490/1 | €385 | €2,751 | +€2,366 | +614.0% |
| Total equity and liabilities | 10/49 | €120,004 | €138,125 | +€18,121 | +15.1% |
| Equity | 10/15 | -€11,613 | -€3,863 | +€7,749 | +66.7% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,113 | -€11,363 | +€7,749 | +40.5% |
| Amounts payable | 17/49 | €131,616 | €141,988 | +€10,372 | +7.9% |
| Amounts payable after more than one year | 17 | €69,043 | €62,910 | -€6,133 | -8.9% |
| Financial debts | 170/4 | €69,043 | €62,910 | -€6,133 | -8.9% |
| Amounts payable within one year | 42/48 | €62,574 | €79,078 | +€16,505 | +26.4% |
| Current portion of amounts payable after more than one year | 42 | - | €3,695 | +€3,695 | |
| Trade debts | 44 | €9,191 | €0 | -€9,191 | -100.0% |
| Suppliers | 440/4 | €9,191 | €0 | -€9,191 | -100.0% |
| Advances received on contracts in progress | 46 | €50,157 | €50,157 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,726 | €21,153 | +€19,427 | +1125.2% |
| Taxes | 450/3 | €1,726 | €21,153 | +€19,427 | +1125.2% |
| Other amounts payable | 47/48 | €1,500 | €4,073 | +€2,573 | +171.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,366 | €3,513 | +€147 | +4.4% |
| Other operating charges | 640/8 | €407 | €521 | +€114 | +28.0% |
| Gross operating margin | 9900 | -€14,742 | €20,720 | +€35,462 | |
| Operating profit (loss) | 9901 | -€18,514 | €16,687 | +€35,201 | |
| Financial income | 75/76B | €385 | €13 | -€372 | -96.6% |
| Recurring financial income | 75 | €385 | €13 | -€372 | -96.6% |
| Financial charges | 65/66B | €984 | €8,785 | +€7,801 | +792.9% |
| Recurring financial charges | 65 | €984 | €8,785 | +€7,801 | +792.9% |
| Profit (loss) for the period before taxes | 9903 | -€19,113 | €7,915 | +€27,027 | |
| Income taxes | 67/77 | - | €165 | +€165 | |
| Profit (loss) for the period | 9904 | -€19,113 | €7,749 | +€26,862 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,113 | €7,749 | +€26,862 |
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 4 October 2026 via checked.be.