NEW BS: 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.
NEW BS
Largest movements
- Stocks and contracts +€85,522
up €85,522 (+30.3%), from €282,051 to €367,572
- Cash -€33,921
down €33,921 (-50.2%), from €67,524 to €33,604
mainly Stocks and contracts (-€85,522) and Investment in fixed assets (net) (-€59,573)
- Receivables within one year +€11,273
up €11,273 (+38.3%), from €29,405 to €40,679
- Tax, wage and social debts +€23,246
up €23,246 (+34.7%), from €67,034 to €90,280
of which Taxes: +€16,906
- Trade debts +€15,553
up €15,553 (+11.5%), from €134,980 to €150,534
- Other debts +€11,929
up €11,929 (+22.2%), from €53,823 to €65,752
- Profit (loss) carried forward +€10,038
up €10,038 (+88.5%), from -€11,340 to -€1,301
- Debts after one year +€6,159
up €6,159 (+8.5%), from €72,304 to €78,464
- Gross operating margin +€85,197
up €85,197 (+40.2%), from €211,894 to €297,091
- Staff costs +€60,450
up €60,450 (+40.3%), from €150,011 to €210,461
- Depreciation +€7,076
up €7,076 (+14.3%), from €49,536 to €56,612
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 | €506,233 | €572,068 | +€65,835 | +13.0% |
| Fixed assets | 21/28 | €127,253 | €130,214 | +€2,961 | +2.3% |
| Intangible fixed assets | 21 | €1,614 | - | -€1,614 | |
| Tangible fixed assets | 22/27 | €125,639 | €130,214 | +€4,575 | +3.6% |
| Plant, machinery and equipment | 23 | €46,642 | €69,274 | +€22,632 | +48.5% |
| Furniture and vehicles | 24 | €78,997 | €60,939 | -€18,057 | -22.9% |
| Current assets | 29/58 | €378,980 | €441,855 | +€62,874 | +16.6% |
| Stocks and contracts in progress | 3 | €282,051 | €367,572 | +€85,522 | +30.3% |
| Stocks | 30/36 | €282,051 | €367,572 | +€85,522 | +30.3% |
| Amounts receivable within one year | 40/41 | €29,405 | €40,679 | +€11,273 | +38.3% |
| Trade receivables | 40 | €29,405 | €40,679 | +€11,273 | +38.3% |
| Cash at bank and in hand | 54/58 | €67,524 | €33,604 | -€33,921 | -50.2% |
| Total equity and liabilities | 10/49 | €506,233 | €572,068 | +€65,835 | +13.0% |
| Equity | 10/15 | €8,160 | €18,199 | +€10,038 | +123% |
| Contributions | 10/11 | €19,500 | €19,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,340 | -€1,301 | +€10,038 | +88.5% |
| Amounts payable | 17/49 | €498,073 | €553,870 | +€55,797 | +11.2% |
| Amounts payable after more than one year | 17 | €72,304 | €78,464 | +€6,159 | +8.5% |
| Financial debts | 170/4 | €72,304 | €78,464 | +€6,159 | +8.5% |
| Amounts payable within one year | 42/48 | €425,768 | €475,406 | +€49,638 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €44,931 | €43,841 | -€1,090 | -2.4% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €134,980 | €150,534 | +€15,553 | +11.5% |
| Suppliers | 440/4 | €134,980 | €150,534 | +€15,553 | +11.5% |
| Taxes, remuneration and social security | 45 | €67,034 | €90,280 | +€23,246 | +34.7% |
| Taxes | 450/3 | €45,968 | €62,873 | +€16,906 | +36.8% |
| Remuneration and social security | 454/9 | €21,066 | €27,407 | +€6,340 | +30.1% |
| Other amounts payable | 47/48 | €53,823 | €65,752 | +€11,929 | +22.2% |
| Remuneration, social security and pensions | 62 | €150,011 | €210,461 | +€60,450 | +40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,536 | €56,612 | +€7,076 | +14.3% |
| Other operating charges | 640/8 | €5,949 | €5,734 | -€215 | -3.6% |
| Gross operating margin | 9900 | €211,894 | €297,091 | +€85,197 | +40.2% |
| Operating profit (loss) | 9901 | €6,398 | €24,284 | +€17,886 | +280% |
| Financial charges | 65/66B | €10,649 | €13,368 | +€2,719 | +25.5% |
| Recurring financial charges | 65 | €10,649 | €13,368 | +€2,719 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | -€4,252 | €10,915 | +€15,167 | |
| Income taxes | 67/77 | €926 | €877 | -€49 | -5.3% |
| Profit (loss) for the period | 9904 | -€5,178 | €10,038 | +€15,216 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,178 | €10,038 | +€15,216 |
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 22 October 2026 via checked.be.