NO DISTANCE: 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.
NO DISTANCE
Largest movements
- Deferred charges and accrued income +€144,482
up €144,482 (+94.6%), from €152,686 to €297,168
- Cash +€70,272
up €70,272 (+16.4%), from €428,059 to €498,332
mainly Trade debts (+€73,038) and Advances received (+€59,184)
- Receivables within one year -€17,961
down €17,961 (-9.9%), from €181,978 to €164,016
of which Trade receivables: -€16,233
- Trade debts +€73,038
up €73,038 (+150%), from €48,766 to €121,804
- Advances received +€59,184
up €59,184 (+14.3%), from €412,506 to €471,690
- Accrued charges and deferred income +€42,509
up €42,509 (+212%), from €20,031 to €62,540
- Reserves +€20,524
up €20,524 (+7.3%), from €281,792 to €302,316
of which Distributable reserves: +€20,524
- Gross operating margin +€6,029
up €6,029 (+4.9%), from €122,951 to €128,980
- Staff costs +€4,796
up €4,796 (+10.8%), from €44,480 to €49,276
- Depreciation +€2,245
up €2,245 (+20.8%), from €10,814 to €13,059
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 | €858,973 | €1,048,287 | +€189,314 | +22.0% |
| Fixed assets | 21/28 | €83,250 | €75,770 | -€7,479 | -9.0% |
| Tangible fixed assets | 22/27 | €52,583 | €43,853 | -€8,729 | -16.6% |
| Land and buildings | 22 | €43,288 | €35,584 | -€7,704 | -17.8% |
| Plant, machinery and equipment | 23 | €2,502 | €4,113 | +€1,611 | +64.4% |
| Furniture and vehicles | 24 | €6,793 | €4,156 | -€2,636 | -38.8% |
| Financial fixed assets | 28 | €30,667 | €31,917 | +€1,250 | +4.1% |
| Current assets | 29/58 | €775,723 | €972,516 | +€196,793 | +25.4% |
| Amounts receivable within one year | 40/41 | €181,978 | €164,016 | -€17,961 | -9.9% |
| Trade receivables | 40 | €173,757 | €157,524 | -€16,233 | -9.3% |
| Other amounts receivable | 41 | €8,220 | €6,492 | -€1,728 | -21.0% |
| Current investments | 50/53 | €13,000 | €13,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €428,059 | €498,332 | +€70,272 | +16.4% |
| Deferred charges and accrued income | 490/1 | €152,686 | €297,168 | +€144,482 | +94.6% |
| Total equity and liabilities | 10/49 | €858,973 | €1,048,287 | +€189,314 | +22.0% |
| Equity | 10/15 | €315,792 | €336,316 | +€20,524 | +6.5% |
| Contributions | 10/11 | €34,000 | €34,000 | = | 0.0% |
| Reserves | 13 | €281,792 | €302,316 | +€20,524 | +7.3% |
| Non-distributable reserves | 130/1 | €3,400 | €3,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,400 | €3,400 | = | 0.0% |
| Distributable reserves | 133 | €278,392 | €298,916 | +€20,524 | +7.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €543,181 | €711,970 | +€168,789 | +31.1% |
| Amounts payable within one year | 42/48 | €523,150 | €649,430 | +€126,281 | +24.1% |
| Trade debts | 44 | €48,766 | €121,804 | +€73,038 | +150% |
| Suppliers | 440/4 | €48,766 | €121,804 | +€73,038 | +150% |
| Advances received on contracts in progress | 46 | €412,506 | €471,690 | +€59,184 | +14.3% |
| Taxes, remuneration and social security | 45 | €24,649 | €17,126 | -€7,523 | -30.5% |
| Taxes | 450/3 | €14,210 | €9,953 | -€4,256 | -30.0% |
| Remuneration and social security | 454/9 | €10,439 | €7,172 | -€3,267 | -31.3% |
| Other amounts payable | 47/48 | €37,228 | €38,810 | +€1,582 | +4.2% |
| Accrued charges and deferred income | 492/3 | €20,031 | €62,540 | +€42,509 | +212% |
| Remuneration, social security and pensions | 62 | €44,480 | €49,276 | +€4,796 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,814 | €13,059 | +€2,245 | +20.8% |
| Other operating charges | 640/8 | €2,222 | €2,656 | +€434 | +19.5% |
| Gross operating margin | 9900 | €122,951 | €128,980 | +€6,029 | +4.9% |
| Operating profit (loss) | 9901 | €65,435 | €63,989 | -€1,446 | -2.2% |
| Financial income | 75/76B | €67 | €802 | +€734 | +1,088% |
| Recurring financial income | 75 | €67 | €802 | +€734 | +1,088% |
| Financial charges | 65/66B | €8,267 | €8,203 | -€64 | -0.8% |
| Recurring financial charges | 65 | €8,267 | €8,203 | -€64 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €57,236 | €56,587 | -€649 | -1.1% |
| Income taxes | 67/77 | €16,668 | €16,063 | -€606 | -3.6% |
| Profit (loss) for the period | 9904 | €40,567 | €40,524 | -€43 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,567 | €40,524 | -€43 | -0.1% |
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 25 October 2026 via checked.be.