NEW TUBE: 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 TUBE
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€80,089
up €80,089 (+333%), from €24,027 to €104,116
mainly Current investments (+€100,000) and Accrued charges and deferred income (+€55,550)
- Receivables within one year +€56,747
up €56,747 (+13.8%), from €409,825 to €466,572
of which Other amounts receivable: +€86,606
- Deferred charges and accrued income +€41,723
up €41,723 (+428%), from €9,741 to €51,464
- Intangible fixed assets +€22,972
new in 2025: €22,972
- Accrued charges and deferred income +€55,550
up €55,550 (+13,156%), from €422 to €55,972
- Short-term financial debts +€35,116
new in 2025: €35,116
- Debts after one year +€16,088
new in 2025: €16,088
- Trade debts -€14,123
down €14,123 (-4.9%), from €287,181 to €273,058
- Tax, wage and social debts +€7,830
up €7,830 (+24.6%), from €31,795 to €39,625
of which Remuneration and social security: +€6,102
- Staff costs +€66,677
up €66,677 (+18.8%), from €354,504 to €421,181
- Gross operating margin -€28,710
down €28,710 (-5.8%), from €495,335 to €466,625
- Taxes -€21,784
down €21,784 (-72.0%), from €30,256 to €8,472
- Write-downs -€7,234
no longer reported in 2025 (was €7,234)
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 | €679,269 | €779,876 | +€100,607 | +14.8% |
| Fixed assets | 21/28 | €78,133 | €97,776 | +€19,644 | +25.1% |
| Intangible fixed assets | 21 | - | €22,972 | +€22,972 | |
| Tangible fixed assets | 22/27 | €71,331 | €68,003 | -€3,328 | -4.7% |
| Plant, machinery and equipment | 23 | €29,781 | €39,466 | +€9,684 | +32.5% |
| Furniture and vehicles | 24 | €22,031 | €13,622 | -€8,409 | -38.2% |
| Other tangible fixed assets | 26 | €19,519 | €14,915 | -€4,603 | -23.6% |
| Financial fixed assets | 28 | €6,801 | €6,801 | = | 0.0% |
| Current assets | 29/58 | €601,137 | €682,100 | +€80,963 | +13.5% |
| Stocks and contracts in progress | 3 | €57,544 | €59,947 | +€2,404 | +4.2% |
| Stocks | 30/36 | €57,544 | €59,947 | +€2,404 | +4.2% |
| Amounts receivable within one year | 40/41 | €409,825 | €466,572 | +€56,747 | +13.8% |
| Trade receivables | 40 | €384,653 | €354,795 | -€29,859 | -7.8% |
| Other amounts receivable | 41 | €25,172 | €111,778 | +€86,606 | +344% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €24,027 | €104,116 | +€80,089 | +333% |
| Deferred charges and accrued income | 490/1 | €9,741 | €51,464 | +€41,723 | +428% |
| Total equity and liabilities | 10/49 | €679,269 | €779,876 | +€100,607 | +14.8% |
| Equity | 10/15 | €354,751 | €349,073 | -€5,678 | -1.6% |
| Contributions | 10/11 | €9,608 | €9,608 | = | 0.0% |
| Reserves | 13 | €19,478 | €19,478 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €728 | €728 | = | 0.0% |
| Profit (loss) carried forward | 14 | €325,665 | €319,987 | -€5,678 | -1.7% |
| Amounts payable | 17/49 | €324,518 | €430,803 | +€106,285 | +32.8% |
| Amounts payable after more than one year | 17 | - | €16,088 | +€16,088 | |
| Financial debts | 170/4 | - | €16,088 | +€16,088 | |
| Amounts payable within one year | 42/48 | €324,096 | €358,743 | +€34,648 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €5,120 | €10,945 | +€5,825 | +114% |
| Financial debts | 43 | - | €35,116 | +€35,116 | |
| Credit institutions | 430/8 | - | €35,116 | +€35,116 | |
| Trade debts | 44 | €287,181 | €273,058 | -€14,123 | -4.9% |
| Suppliers | 440/4 | €287,181 | €273,058 | -€14,123 | -4.9% |
| Taxes, remuneration and social security | 45 | €31,795 | €39,625 | +€7,830 | +24.6% |
| Taxes | 450/3 | €2,619 | €4,348 | +€1,728 | +66.0% |
| Remuneration and social security | 454/9 | €29,175 | €35,277 | +€6,102 | +20.9% |
| Accrued charges and deferred income | 492/3 | €422 | €55,972 | +€55,550 | +13,156% |
| Remuneration, social security and pensions | 62 | €354,504 | €421,181 | +€66,677 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,160 | €37,251 | -€909 | -2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,234 | - | -€7,234 | |
| Other operating charges | 640/8 | €1,971 | €3,788 | +€1,817 | +92.2% |
| Gross operating margin | 9900 | €495,335 | €466,625 | -€28,710 | -5.8% |
| Operating profit (loss) | 9901 | €93,466 | €4,405 | -€89,061 | -95.3% |
| Financial income | 75/76B | €2,246 | €543 | -€1,703 | -75.8% |
| Recurring financial income | 75 | €2,246 | €543 | -€1,703 | -75.8% |
| Financial charges | 65/66B | €1,781 | €2,155 | +€374 | +21.0% |
| Recurring financial charges | 65 | €1,781 | €2,155 | +€374 | +21.0% |
| Profit (loss) for the period before taxes | 9903 | €93,931 | €2,793 | -€91,138 | -97.0% |
| Income taxes | 67/77 | €30,256 | €8,472 | -€21,784 | -72.0% |
| Profit (loss) for the period | 9904 | €63,675 | -€5,678 | -€69,354 | |
| Profit (loss) for the period to be appropriated | 9905 | €63,675 | -€5,678 | -€69,354 |
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 29 October 2026 via checked.be.