O LINE: 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.
O LINE
Largest movements
- Receivables within one year -€47,276
down €47,276 (-47.1%), from €100,334 to €53,057
of which Trade receivables: -€55,522
- Tangible fixed assets -€31,037
down €31,037 (-8.0%), from €388,972 to €357,935
of which Land and buildings: -€18,451
- Cash +€9,236
up €9,236 (+12.2%), from €75,821 to €85,058
mainly Receivables within one year (+€47,276) and Depreciation (+€35,972)
- Advances received -€41,000
down €41,000 (-100%), from €41,000 to €0
- Debts after one year -€23,107
down €23,107 (-7.8%), from €295,803 to €272,696
of which Financial debts: -€23,107
- Trade debts -€17,770
down €17,770 (-34.6%), from €51,354 to €33,584
- Profit (loss) carried forward +€16,414
up €16,414 (+14.7%), from €111,937 to €128,351
- Current portion of long-term debt -€7,209
down €7,209 (-23.8%), from €30,316 to €23,107
- Staff costs -€40,410
down €40,410 (-66.7%), from €60,580 to €20,170
- Gross operating margin -€20,594
down €20,594 (-18.3%), from €112,686 to €92,092
- Taxes +€4,685
up €4,685 (+326%), from €1,438 to €6,123
- Other operating charges +€1,819
up €1,819 (+29.9%), from €6,084 to €7,903
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 | €575,530 | €501,272 | -€74,258 | -12.9% |
| Fixed assets | 21/28 | €389,289 | €358,132 | -€31,157 | -8.0% |
| Intangible fixed assets | 21 | €317 | €197 | -€120 | -37.9% |
| Tangible fixed assets | 22/27 | €388,972 | €357,935 | -€31,037 | -8.0% |
| Land and buildings | 22 | €322,923 | €304,472 | -€18,451 | -5.7% |
| Plant, machinery and equipment | 23 | €4,101 | €2,800 | -€1,301 | -31.7% |
| Furniture and vehicles | 24 | €9,215 | €9,230 | +€15 | +0.2% |
| Leasing and similar rights | 25 | €52,733 | €41,433 | -€11,300 | -21.4% |
| Current assets | 29/58 | €186,241 | €143,140 | -€43,101 | -23.1% |
| Stocks and contracts in progress | 3 | €3,242 | €1,582 | -€1,660 | -51.2% |
| Stocks | 30/36 | €3,242 | €1,582 | -€1,660 | -51.2% |
| Amounts receivable within one year | 40/41 | €100,334 | €53,057 | -€47,276 | -47.1% |
| Trade receivables | 40 | €88,115 | €32,594 | -€55,522 | -63.0% |
| Other amounts receivable | 41 | €12,218 | €20,464 | +€8,245 | +67.5% |
| Cash at bank and in hand | 54/58 | €75,821 | €85,058 | +€9,236 | +12.2% |
| Deferred charges and accrued income | 490/1 | €6,845 | €3,443 | -€3,402 | -49.7% |
| Total equity and liabilities | 10/49 | €575,530 | €501,272 | -€74,258 | -12.9% |
| Equity | 10/15 | €142,362 | €157,580 | +€15,218 | +10.7% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,937 | €128,351 | +€16,414 | +14.7% |
| Investment grants | 15 | €9,965 | €8,769 | -€1,196 | -12.0% |
| Amounts payable | 17/49 | €433,167 | €343,691 | -€89,476 | -20.7% |
| Amounts payable after more than one year | 17 | €295,803 | €272,696 | -€23,107 | -7.8% |
| Financial debts | 170/4 | €243,803 | €220,696 | -€23,107 | -9.5% |
| Other amounts payable | 178/9 | €52,000 | €52,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €137,216 | €70,996 | -€66,220 | -48.3% |
| Current portion of amounts payable after more than one year | 42 | €30,316 | €23,107 | -€7,209 | -23.8% |
| Financial debts | 43 | - | €1,368 | +€1,368 | |
| Credit institutions | 430/8 | - | €1,368 | +€1,368 | |
| Trade debts | 44 | €51,354 | €33,584 | -€17,770 | -34.6% |
| Suppliers | 440/4 | €51,354 | €33,584 | -€17,770 | -34.6% |
| Advances received on contracts in progress | 46 | €41,000 | €0 | -€41,000 | -100% |
| Taxes, remuneration and social security | 45 | €4,278 | €1,888 | -€2,390 | -55.9% |
| Taxes | 450/3 | €2,710 | €0 | -€2,710 | -100% |
| Remuneration and social security | 454/9 | €1,568 | €1,888 | +€320 | +20.4% |
| Other amounts payable | 47/48 | €10,268 | €11,049 | +€782 | +7.6% |
| Accrued charges and deferred income | 492/3 | €149 | €0 | -€149 | -100% |
| Non-recurring operating income | 76A | €1,000 | €0 | -€1,000 | -100% |
| Remuneration, social security and pensions | 62 | €60,580 | €20,170 | -€40,410 | -66.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,705 | €35,972 | +€266 | +0.7% |
| Other operating charges | 640/8 | €6,084 | €7,903 | +€1,819 | +29.9% |
| Gross operating margin | 9900 | €112,686 | €92,092 | -€20,594 | -18.3% |
| Operating profit (loss) | 9901 | €10,317 | €28,047 | +€17,731 | +172% |
| Financial income | 75/76B | €2,738 | €2,982 | +€244 | +8.9% |
| Recurring financial income | 75 | €2,738 | €2,982 | +€244 | +8.9% |
| Financial charges | 65/66B | €9,226 | €8,492 | -€734 | -8.0% |
| Recurring financial charges | 65 | €9,226 | €8,492 | -€734 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €3,829 | €22,537 | +€18,708 | +489% |
| Income taxes | 67/77 | €1,438 | €6,123 | +€4,685 | +326% |
| Profit (loss) for the period | 9904 | €2,391 | €16,414 | +€14,023 | +587% |
| Profit (loss) for the period to be appropriated | 9905 | €2,391 | €16,414 | +€14,023 | +587% |
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 17 October 2026 via checked.be.