Nature et structure: 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.
Nature et structure
Largest movements
- Cash +€37,652
up €37,652 (+195%), from €19,330 to €56,982
mainly Depreciation (+€66,398) and Current portion of long-term debt (+€21,195)
- Tangible fixed assets +€18,714
up €18,714 (+11.7%), from €159,840 to €178,554
of which Plant, machinery and equipment: +€21,211
- Intangible fixed assets +€10,550
up €10,550 (+320%), from €3,300 to €13,850
- Receivables within one year +€3,834
up €3,834 (+11.7%), from €32,841 to €36,675
of which Other amounts receivable: +€7,796
- Current portion of long-term debt +€21,195
up €21,195 (+53.5%), from €39,584 to €60,779
- Debts after one year +€20,463
up €20,463 (+20.0%), from €102,334 to €122,797
- Trade debts +€19,536
up €19,536 (+152%), from €12,853 to €32,389
- Reserves +€19,000
up €19,000 (+47.5%), from €40,000 to €59,000
- Profit (loss) carried forward -€6,370
down €6,370 (-91.1%), from €6,995 to €624
- Gross operating margin +€53,107
up €53,107 (+39.3%), from €135,225 to €188,332
- Staff costs +€17,721
up €17,721 (+27.0%), from €65,550 to €83,271
- Other operating charges +€15,947
up €15,947 (+774%), from €2,061 to €18,009
- Depreciation +€9,489
up €9,489 (+16.7%), from €56,909 to €66,398
- Financial charges +€2,044
up €2,044 (+32.0%), from €6,387 to €8,430
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 | €222,646 | €292,099 | +€69,453 | +31.2% |
| Fixed assets | 21/28 | €163,240 | €192,504 | +€29,264 | +17.9% |
| Intangible fixed assets | 21 | €3,300 | €13,850 | +€10,550 | +320% |
| Tangible fixed assets | 22/27 | €159,840 | €178,554 | +€18,714 | +11.7% |
| Plant, machinery and equipment | 23 | €11,342 | €32,553 | +€21,211 | +187% |
| Furniture and vehicles | 24 | €29,683 | €18,322 | -€11,361 | -38.3% |
| Leasing and similar rights | 25 | €118,815 | €127,679 | +€8,864 | +7.5% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €59,406 | €99,595 | +€40,189 | +67.7% |
| Amounts receivable within one year | 40/41 | €32,841 | €36,675 | +€3,834 | +11.7% |
| Trade receivables | 40 | €25,956 | €21,994 | -€3,962 | -15.3% |
| Other amounts receivable | 41 | €6,885 | €14,681 | +€7,796 | +113% |
| Cash at bank and in hand | 54/58 | €19,330 | €56,982 | +€37,652 | +195% |
| Deferred charges and accrued income | 490/1 | €7,234 | €5,938 | -€1,297 | -17.9% |
| Total equity and liabilities | 10/49 | €222,646 | €292,099 | +€69,453 | +31.2% |
| Equity | 10/15 | €49,995 | €62,624 | +€12,630 | +25.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €40,000 | €59,000 | +€19,000 | +47.5% |
| Distributable reserves | 133 | €40,000 | €59,000 | +€19,000 | +47.5% |
| Profit (loss) carried forward | 14 | €6,995 | €624 | -€6,370 | -91.1% |
| Amounts payable | 17/49 | €172,651 | €229,475 | +€56,824 | +32.9% |
| Amounts payable after more than one year | 17 | €102,334 | €122,797 | +€20,463 | +20.0% |
| Financial debts | 170/4 | €102,334 | €122,797 | +€20,463 | +20.0% |
| Amounts payable within one year | 42/48 | €69,141 | €104,220 | +€35,079 | +50.7% |
| Current portion of amounts payable after more than one year | 42 | €39,584 | €60,779 | +€21,195 | +53.5% |
| Trade debts | 44 | €12,853 | €32,389 | +€19,536 | +152% |
| Suppliers | 440/4 | €12,853 | €32,389 | +€19,536 | +152% |
| Advances received on contracts in progress | 46 | €2,692 | - | -€2,692 | |
| Taxes, remuneration and social security | 45 | €14,012 | €10,578 | -€3,434 | -24.5% |
| Taxes | 450/3 | €5,619 | €4,480 | -€1,139 | -20.3% |
| Remuneration and social security | 454/9 | €8,393 | €6,098 | -€2,295 | -27.3% |
| Other amounts payable | 47/48 | - | €474 | +€474 | |
| Accrued charges and deferred income | 492/3 | €1,176 | €2,458 | +€1,282 | +109% |
| Remuneration, social security and pensions | 62 | €65,550 | €83,271 | +€17,721 | +27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,909 | €66,398 | +€9,489 | +16.7% |
| Other operating charges | 640/8 | €2,061 | €18,009 | +€15,947 | +774% |
| Non-recurring operating charges | 66A | €289 | - | -€289 | |
| Gross operating margin | 9900 | €135,225 | €188,332 | +€53,107 | +39.3% |
| Operating profit (loss) | 9901 | €10,416 | €20,655 | +€10,239 | +98.3% |
| Financial income | 75/76B | €809 | €461 | -€349 | -43.1% |
| Recurring financial income | 75 | €809 | €461 | -€349 | -43.1% |
| Financial charges | 65/66B | €6,387 | €8,430 | +€2,044 | +32.0% |
| Recurring financial charges | 65 | €6,387 | €8,430 | +€2,044 | +32.0% |
| Profit (loss) for the period before taxes | 9903 | €4,839 | €12,686 | +€7,847 | +162% |
| Income taxes | 67/77 | €59 | €56 | -€3 | -4.5% |
| Profit (loss) for the period | 9904 | €4,780 | €12,630 | +€7,850 | +164% |
| Profit (loss) for the period to be appropriated | 9905 | €4,780 | €12,630 | +€7,850 | +164% |
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 19 October 2026 via checked.be.