NEW BOX: 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.
NEW BOX
Largest movements
- Receivables within one year -€63,531
down €63,531 (-31.9%), from €198,935 to €135,404
of which Other amounts receivable: -€33,530
- Cash +€24,324
up €24,324 (+1504.8%), from €1,616 to €25,941
mainly Receivables within one year (+€63,531) and Net result for the year (+€20,189)
- Stocks and contracts -€9,533
down €9,533 (-8.6%), from €111,102 to €101,569
- Reserves -€30,000
down €30,000 (-18.6%), from €160,972 to €130,972
of which Distributable reserves: -€30,000
- Short-term financial debts -€15,478
no longer reported in 2025 (was €15,478)
- Trade debts -€8,024
down €8,024 (-10.5%), from €76,090 to €68,066
- Gross operating margin -€12,632
down €12,632 (-21.8%), from €58,068 to €45,436
- Depreciation -€4,452
down €4,452 (-39.4%), from €11,293 to €6,840
- Taxes -€2,338
down €2,338 (-25.1%), from €9,303 to €6,965
- Financial income -€1,967
down €1,967 (-25.4%), from €7,738 to €5,772
- Financial charges -€1,953
down €1,953 (-41.3%), from €4,727 to €2,774
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 | €370,791 | €319,158 | -€51,634 | -13.9% |
| Fixed assets | 21/28 | €55,057 | €52,967 | -€2,090 | -3.8% |
| Tangible fixed assets | 22/27 | €54,708 | €52,617 | -€2,090 | -3.8% |
| Land and buildings | 22 | €45,860 | €43,257 | -€2,603 | -5.7% |
| Furniture and vehicles | 24 | €3,212 | - | -€3,212 | |
| Other tangible fixed assets | 26 | €5,636 | €9,360 | +€3,724 | +66.1% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €315,734 | €266,191 | -€49,543 | -15.7% |
| Stocks and contracts in progress | 3 | €111,102 | €101,569 | -€9,533 | -8.6% |
| Stocks | 30/36 | €111,102 | €101,569 | -€9,533 | -8.6% |
| Amounts receivable within one year | 40/41 | €198,935 | €135,404 | -€63,531 | -31.9% |
| Trade receivables | 40 | €87,539 | €57,538 | -€30,001 | -34.3% |
| Other amounts receivable | 41 | €111,396 | €77,866 | -€33,530 | -30.1% |
| Cash at bank and in hand | 54/58 | €1,616 | €25,941 | +€24,324 | +1504.8% |
| Deferred charges and accrued income | 490/1 | €4,081 | €3,278 | -€803 | -19.7% |
| Total equity and liabilities | 10/49 | €370,791 | €319,158 | -€51,634 | -13.9% |
| Equity | 10/15 | €219,660 | €189,849 | -€29,811 | -13.6% |
| Contributions | 10/11 | €12,403 | €12,403 | = | 0.0% |
| Reserves | 13 | €160,972 | €130,972 | -€30,000 | -18.6% |
| Non-distributable reserves | 130/1 | €5,972 | €5,972 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,972 | €5,972 | = | 0.0% |
| Distributable reserves | 133 | €155,000 | €125,000 | -€30,000 | -19.4% |
| Profit (loss) carried forward | 14 | €46,286 | €46,474 | +€189 | +0.4% |
| Amounts payable | 17/49 | €151,131 | €129,309 | -€21,822 | -14.4% |
| Amounts payable within one year | 42/48 | €148,855 | €126,582 | -€22,273 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €563 | - | -€563 | |
| Financial debts | 43 | €15,478 | - | -€15,478 | |
| Credit institutions | 430/8 | €15,478 | - | -€15,478 | |
| Trade debts | 44 | €76,090 | €68,066 | -€8,024 | -10.5% |
| Suppliers | 440/4 | €76,090 | €68,066 | -€8,024 | -10.5% |
| Taxes, remuneration and social security | 45 | €6,723 | €8,516 | +€1,792 | +26.7% |
| Taxes | 450/3 | €6,723 | €8,516 | +€1,792 | +26.7% |
| Other amounts payable | 47/48 | €50,000 | €50,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,276 | €2,727 | +€451 | +19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,293 | €6,840 | -€4,452 | -39.4% |
| Other operating charges | 640/8 | €13,090 | €14,440 | +€1,350 | +10.3% |
| Gross operating margin | 9900 | €58,068 | €45,436 | -€12,632 | -21.8% |
| Operating profit (loss) | 9901 | €33,686 | €24,156 | -€9,530 | -28.3% |
| Financial income | 75/76B | €7,738 | €5,772 | -€1,967 | -25.4% |
| Recurring financial income | 75 | €7,738 | €5,772 | -€1,967 | -25.4% |
| Financial charges | 65/66B | €4,727 | €2,774 | -€1,953 | -41.3% |
| Recurring financial charges | 65 | €4,727 | €2,774 | -€1,953 | -41.3% |
| Profit (loss) for the period before taxes | 9903 | €36,698 | €27,154 | -€9,544 | -26.0% |
| Income taxes | 67/77 | €9,303 | €6,965 | -€2,338 | -25.1% |
| Profit (loss) for the period | 9904 | €27,394 | €20,189 | -€7,206 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,394 | €20,189 | -€7,206 | -26.3% |
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 5 October 2026 via checked.be.