NEXT CHAPTER: 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.
NEXT CHAPTER
Largest movements
- Cash +€92,045
up €92,045 (+165%), from €55,919 to €147,964
mainly Net result for the year (+€85,738) and Receivables within one year (+€59,926)
- Receivables within one year -€59,926
down €59,926 (-11.4%), from €524,185 to €464,260
of which Trade receivables: -€99,492
- Tangible fixed assets -€12,461
down €12,461 (-90.7%), from €13,742 to €1,281
- Profit (loss) carried forward +€85,738
up €85,738 (+34.2%), from €250,725 to €336,463
- Trade debts -€19,899
down €19,899 (-7.1%), from €278,888 to €258,989
- Accrued charges and deferred income -€15,281
down €15,281 (-87.5%), from €17,461 to €2,180
- Other debts -€10,019
down €10,019 (-91.0%), from €11,016 to €997
- Tax, wage and social debts -€9,717
down €9,717 (-16.9%), from €57,638 to €47,921
of which Taxes: -€13,189
- Staff costs +€18,235
up €18,235 (+9.4%), from €194,859 to €213,094
- Gross operating margin +€14,236
up €14,236 (+4.2%), from €339,023 to €353,259
- Taxes -€4,313
down €4,313 (-11.5%), from €37,599 to €33,286
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 | €631,814 | €655,642 | +€23,827 | +3.8% |
| Fixed assets | 21/28 | €45,606 | €37,129 | -€8,477 | -18.6% |
| Intangible fixed assets | 21 | €5,214 | €9,198 | +€3,984 | +76.4% |
| Tangible fixed assets | 22/27 | €13,742 | €1,281 | -€12,461 | -90.7% |
| Plant, machinery and equipment | 23 | €1,785 | €956 | -€829 | -46.5% |
| Furniture and vehicles | 24 | €6,548 | €326 | -€6,223 | -95.0% |
| Other tangible fixed assets | 26 | €5,409 | €0 | -€5,409 | -100% |
| Financial fixed assets | 28 | €26,650 | €26,650 | = | 0.0% |
| Current assets | 29/58 | €586,208 | €618,513 | +€32,304 | +5.5% |
| Amounts receivable within one year | 40/41 | €524,185 | €464,260 | -€59,926 | -11.4% |
| Trade receivables | 40 | €506,111 | €406,619 | -€99,492 | -19.7% |
| Other amounts receivable | 41 | €18,074 | €57,640 | +€39,566 | +219% |
| Cash at bank and in hand | 54/58 | €55,919 | €147,964 | +€92,045 | +165% |
| Deferred charges and accrued income | 490/1 | €6,104 | €6,289 | +€185 | +3.0% |
| Total equity and liabilities | 10/49 | €631,814 | €655,642 | +€23,827 | +3.8% |
| Equity | 10/15 | €256,725 | €342,463 | +€85,738 | +33.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €250,725 | €336,463 | +€85,738 | +34.2% |
| Amounts payable | 17/49 | €375,089 | €313,178 | -€61,911 | -16.5% |
| Amounts payable within one year | 42/48 | €357,628 | €310,998 | -€46,629 | -13.0% |
| Financial debts | 43 | €10,086 | €3,092 | -€6,994 | -69.3% |
| Credit institutions | 430/8 | €10,086 | €3,092 | -€6,994 | -69.3% |
| Trade debts | 44 | €278,888 | €258,989 | -€19,899 | -7.1% |
| Suppliers | 440/4 | €278,888 | €258,989 | -€19,899 | -7.1% |
| Taxes, remuneration and social security | 45 | €57,638 | €47,921 | -€9,717 | -16.9% |
| Taxes | 450/3 | €25,312 | €12,122 | -€13,189 | -52.1% |
| Remuneration and social security | 454/9 | €32,326 | €35,799 | +€3,473 | +10.7% |
| Other amounts payable | 47/48 | €11,016 | €997 | -€10,019 | -91.0% |
| Accrued charges and deferred income | 492/3 | €17,461 | €2,180 | -€15,281 | -87.5% |
| Non-recurring operating income | 76A | €2,130 | €796 | -€1,334 | -62.6% |
| Remuneration, social security and pensions | 62 | €194,859 | €213,094 | +€18,235 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,264 | €4,419 | -€845 | -16.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €13,364 | €14,782 | +€1,418 | +10.6% |
| Non-recurring operating charges | 66A | €4,454 | €0 | -€4,454 | -100% |
| Gross operating margin | 9900 | €339,023 | €353,259 | +€14,236 | +4.2% |
| Operating profit (loss) | 9901 | €121,083 | €120,964 | -€119 | -0.1% |
| Financial income | 75/76B | €485 | €1,816 | +€1,331 | +274% |
| Recurring financial income | 75 | €485 | €1,816 | +€1,331 | +274% |
| Financial charges | 65/66B | €3,542 | €3,757 | +€215 | +6.1% |
| Recurring financial charges | 65 | €3,542 | €3,757 | +€215 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €118,027 | €119,024 | +€997 | +0.8% |
| Income taxes | 67/77 | €37,599 | €33,286 | -€4,313 | -11.5% |
| Profit (loss) for the period | 9904 | €80,428 | €85,738 | +€5,310 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €80,428 | €85,738 | +€5,310 | +6.6% |
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 27 October 2026 via checked.be.