NL A 2.1.: 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.
NL A 2.1.
Largest movements
- Stocks and contracts -€2.5m
down €2.5m (-42.8%), from €5.8m to €3.3m
- Receivables within one year -€755,031
down €755,031 (-47.3%), from €1.6m to €841,126
- Cash -€484,329
down €484,329 (-85.6%), from €566,042 to €81,713
mainly Debts after one year (-€4.4m) and Trade debts (-€1.1m)
- Debts after one year -€4.4m
no longer reported in 2025 (was €4.4m)
- Short-term financial debts +€1.6m
new in 2025: €1.6m
- Trade debts -€1.1m
down €1.1m (-88.6%), from €1.2m to €141,785
- Reserves +€516,911
up €516,911 (+41.8%), from €1.2m to €1.8m
of which Distributable reserves: +€491,066
- Tax, wage and social debts -€257,091
down €257,091 (-26.3%), from €978,135 to €721,044
- Turnover -€3.6m
down €3.6m (-58.6%), from €6.2m to €2.6m
- Goods and materials -€2.8m
down €2.8m (-63.7%), from €4.4m to €1.6m
- Taxes -€275,000
down €275,000 (-59.3%), from €464,000 to €189,000
- Financial charges +€124,352
up €124,352 (+23,686%), from €525 to €124,877
- Services and other goods +€106,915
up €106,915 (+2,303%), from €4,642 to €111,557
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 | €7,921,360 | €4,215,437 | -€3.7m | -46.8% |
| Current assets | 29/58 | €7,921,360 | €4,215,437 | -€3.7m | -46.8% |
| Stocks and contracts in progress | 3 | €5,759,162 | €3,292,598 | -€2.5m | -42.8% |
| Stocks | 30/36 | €5,759,162 | €3,292,598 | -€2.5m | -42.8% |
| Property held for sale | 35 | €5,759,162 | €3,292,598 | -€2.5m | -42.8% |
| Amounts receivable within one year | 40/41 | €1,596,157 | €841,126 | -€755,031 | -47.3% |
| Trade receivables | 40 | €1,596,157 | €841,126 | -€755,031 | -47.3% |
| Cash at bank and in hand | 54/58 | €566,042 | €81,713 | -€484,329 | -85.6% |
| Total equity and liabilities | 10/49 | €7,921,360 | €4,215,437 | -€3.7m | -46.8% |
| Contributions | 10/11 | €816 | €816 | = | 0.0% |
| Capital | 10 | €816 | €816 | = | 0.0% |
| Issued capital | 100 | €816 | €816 | = | 0.0% |
| Reserves | 13 | €1,235,856 | €1,752,767 | +€516,911 | +41.8% |
| Non-distributable reserves | 130/1 | €61,793 | €87,638 | +€25,845 | +41.8% |
| Legal reserve | 130 | €61,793 | €87,638 | +€25,845 | +41.8% |
| Distributable reserves | 133 | €1,174,063 | €1,665,129 | +€491,066 | +41.8% |
| Amounts payable | 17/49 | €6,684,688 | €2,461,853 | -€4.2m | -63.2% |
| Amounts payable after more than one year | 17 | €4,433,707 | - | -€4.4m | |
| Financial debts | 170/4 | €4,433,707 | - | -€4.4m | |
| Credit institutions | 173 | €4,433,707 | - | -€4.4m | |
| Amounts payable within one year | 42/48 | €2,249,840 | €2,461,853 | +€212,013 | +9.4% |
| Financial debts | 43 | - | €1,570,504 | +€1.6m | |
| Credit institutions | 430/8 | - | €1,570,504 | +€1.6m | |
| Trade debts | 44 | €1,243,186 | €141,785 | -€1.1m | -88.6% |
| Suppliers | 440/4 | €1,243,186 | €141,785 | -€1.1m | -88.6% |
| Taxes, remuneration and social security | 45 | €978,135 | €721,044 | -€257,091 | -26.3% |
| Taxes | 450/3 | €978,135 | €721,044 | -€257,091 | -26.3% |
| Other amounts payable | 47/48 | €28,520 | €28,520 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,141 | - | -€1,141 | |
| Operating income | 70/76A | €6,161,294 | €2,550,857 | -€3.6m | -58.6% |
| Turnover | 70 | €6,161,294 | €2,550,857 | -€3.6m | -58.6% |
| Operating charges | 60/66A | €4,433,340 | €1,720,068 | -€2.7m | -61.2% |
| Goods for resale, raw materials and consumables | 60 | €4,428,648 | €1,608,484 | -€2.8m | -63.7% |
| Change in stocks: decrease (increase) | 609 | €2,361,280 | €1,513,720 | -€847,560 | -35.9% |
| Services and other goods | 61 | €4,642 | €111,557 | +€106,915 | +2,303% |
| Other operating charges | 640/8 | €50 | €27 | -€23 | -46.0% |
| Operating profit (loss) | 9901 | €1,727,954 | €830,789 | -€897,165 | -51.9% |
| Financial charges | 65/66B | €525 | €124,877 | +€124,352 | +23,686% |
| Recurring financial charges | 65 | €525 | €124,877 | +€124,352 | +23,686% |
| Debt charges | 650 | - | €124,362 | +€124,362 | |
| Other financial charges | 652/9 | €525 | €515 | -€10 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €1,727,429 | €705,912 | -€1.0m | -59.1% |
| Income taxes | 67/77 | €464,000 | €189,000 | -€275,000 | -59.3% |
| Taxes | 670/3 | €464,000 | €189,000 | -€275,000 | -59.3% |
| Profit (loss) for the period | 9904 | €1,263,429 | €516,912 | -€746,517 | -59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,263,429 | €516,912 | -€746,517 | -59.1% |
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 21 October 2026 via checked.be.