NEW CHECK POINT: what changed
NEW CHECK POINT
Largest movements
- Cash -€98,391
down €98,391 (-46.4%), from €211,839 to €113,449
mainly Debts after one year (-€121,966) and Current portion of long-term debt (-€52,677)
- Receivables within one year -€79,795
down €79,795 (-95.5%), from €83,522 to €3,727
of which Other amounts receivable: -€46,643
- Tangible fixed assets -€73,750
down €73,750 (-24.5%), from €301,071 to €227,321
of which Plant, machinery and equipment: -€73,524
- Intangible fixed assets +€22,370
up €22,370 (+864%), from €2,590 to €24,960
- Debts after one year -€121,966
down €121,966 (-19.2%), from €633,592 to €511,627
of which Other amounts payable: -€113,328
- Current portion of long-term debt -€52,677
down €52,677 (-64.2%), from €82,088 to €29,411
- Reserves -€51,997
down €51,997 (-27.7%), from €187,966 to €135,968
of which Distributable reserves: -€51,997
- Trade debts +€23,826
up €23,826 (+40.6%), from €58,660 to €82,486
- Tax, wage and social debts -€13,794
down €13,794 (-19.3%), from €71,537 to €57,743
of which Remuneration and social security: -€7,389
- Staff costs -€31,813
down €31,813 (-11.8%), from €268,832 to €237,019
- Write-downs +€18,426
up €18,426, from -€5,919 to €12,508
- Financial charges +€17,307
up €17,307 (+109%), from €15,821 to €33,128
- Gross operating margin -€11,450
down €11,450 (-3.8%), from €303,653 to €292,203
- Depreciation -€6,781
down €6,781 (-7.9%), from €86,122 to €79,341
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,138,056 | €924,393 | -€213,663 | -18.8% |
| Fixed assets | 21/28 | €313,661 | €262,281 | -€51,380 | -16.4% |
| Intangible fixed assets | 21 | €2,590 | €24,960 | +€22,370 | +864% |
| Tangible fixed assets | 22/27 | €301,071 | €227,321 | -€73,750 | -24.5% |
| Plant, machinery and equipment | 23 | €296,987 | €223,463 | -€73,524 | -24.8% |
| Furniture and vehicles | 24 | €4,084 | €3,859 | -€226 | -5.5% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €824,395 | €662,112 | -€162,283 | -19.7% |
| Stocks and contracts in progress | 3 | €527,398 | €535,029 | +€7,631 | +1.4% |
| Stocks | 30/36 | €527,398 | €535,029 | +€7,631 | +1.4% |
| Amounts receivable within one year | 40/41 | €83,522 | €3,727 | -€79,795 | -95.5% |
| Trade receivables | 40 | €36,009 | €2,857 | -€33,152 | -92.1% |
| Other amounts receivable | 41 | €47,513 | €869 | -€46,643 | -98.2% |
| Cash at bank and in hand | 54/58 | €211,839 | €113,449 | -€98,391 | -46.4% |
| Deferred charges and accrued income | 490/1 | €1,636 | €9,908 | +€8,272 | +506% |
| Total equity and liabilities | 10/49 | €1,138,056 | €924,393 | -€213,663 | -18.8% |
| Equity | 10/15 | €286,142 | €234,144 | -€51,997 | -18.2% |
| Contributions | 10/11 | €98,176 | €98,176 | = | 0.0% |
| Capital | 10 | €98,176 | €98,176 | = | 0.0% |
| Issued capital | 100 | €98,176 | €98,176 | = | 0.0% |
| Reserves | 13 | €187,966 | €135,968 | -€51,997 | -27.7% |
| Non-distributable reserves | 130/1 | €29,528 | €29,528 | = | 0.0% |
| Legal reserve | 130 | €9,818 | €9,818 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,710 | €19,710 | = | 0.0% |
| Distributable reserves | 133 | €158,438 | €106,440 | -€51,997 | -32.8% |
| Amounts payable | 17/49 | €851,915 | €690,248 | -€161,666 | -19.0% |
| Amounts payable after more than one year | 17 | €633,592 | €511,627 | -€121,966 | -19.2% |
| Financial debts | 170/4 | €270,264 | €261,627 | -€8,637 | -3.2% |
| Other amounts payable | 178/9 | €363,328 | €250,000 | -€113,328 | -31.2% |
| Amounts payable within one year | 42/48 | €216,322 | €176,622 | -€39,701 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €82,088 | €29,411 | -€52,677 | -64.2% |
| Trade debts | 44 | €58,660 | €82,486 | +€23,826 | +40.6% |
| Suppliers | 440/4 | €58,660 | €82,486 | +€23,826 | +40.6% |
| Taxes, remuneration and social security | 45 | €71,537 | €57,743 | -€13,794 | -19.3% |
| Taxes | 450/3 | €41,385 | €34,980 | -€6,405 | -15.5% |
| Remuneration and social security | 454/9 | €30,152 | €22,763 | -€7,389 | -24.5% |
| Other amounts payable | 47/48 | €4,037 | €6,982 | +€2,944 | +72.9% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Non-recurring operating income | 76A | €8,145 | €83 | -€8,062 | -99.0% |
| Remuneration, social security and pensions | 62 | €268,832 | €237,019 | -€31,813 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,122 | €79,341 | -€6,781 | -7.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,919 | €12,508 | +€18,426 | |
| Other operating charges | 640/8 | €3,649 | €2,734 | -€915 | -25.1% |
| Gross operating margin | 9900 | €303,653 | €292,203 | -€11,450 | -3.8% |
| Operating profit (loss) | 9901 | -€49,030 | -€39,398 | +€9,632 | +19.6% |
| Financial income | 75/76B | €24,908 | €21,058 | -€3,851 | -15.5% |
| Recurring financial income | 75 | €24,908 | €21,058 | -€3,851 | -15.5% |
| Financial charges | 65/66B | €15,821 | €33,128 | +€17,307 | +109% |
| Recurring financial charges | 65 | €15,821 | €33,128 | +€17,307 | +109% |
| Profit (loss) for the period before taxes | 9903 | -€39,943 | -€51,469 | -€11,526 | -28.9% |
| Income taxes | 67/77 | €523 | €528 | +€5 | +1.0% |
| Profit (loss) for the period | 9904 | -€40,466 | -€51,997 | -€11,531 | -28.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,466 | -€51,997 | -€11,531 | -28.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.