OLD-CONTINENT: 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.
OLD-CONTINENT
Largest movements
- Receivables within one year +€133,002
up €133,002 (+94.5%), from €140,725 to €273,727
of which Trade receivables: +€135,580
- Cash -€21,701
down €21,701 (-11.7%), from €185,522 to €163,821
mainly Receivables within one year (-€133,002) and Other debts (-€23,922)
- Reserves +€55,011
up €55,011 (+41.4%), from €132,846 to €187,857
of which Distributable reserves: +€55,011
- Trade debts +€45,679
up €45,679 (+379%), from €12,051 to €57,730
- Accrued charges and deferred income +€29,832
up €29,832 (+33.1%), from €90,197 to €120,029
- Other debts -€23,922
down €23,922 (-56.8%), from €42,104 to €18,182
- Tax, wage and social debts +€5,940
up €5,940 (+11.1%), from €53,681 to €59,621
of which Remuneration and social security: +€7,036
- Gross operating margin +€117,589
up €117,589 (+54.1%), from €217,236 to €334,825
- Staff costs +€37,337
up €37,337 (+19.7%), from €189,718 to €227,055
- Taxes +€21,877
up €21,877 (+289%), from €7,575 to €29,452
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 | €337,879 | €450,419 | +€112,540 | +33.3% |
| Fixed assets | 21/28 | €10,144 | €10,767 | +€623 | +6.1% |
| Tangible fixed assets | 22/27 | €7,769 | €8,392 | +€623 | +8.0% |
| Land and buildings | 22 | €4,556 | €3,679 | -€877 | -19.2% |
| Plant, machinery and equipment | 23 | €1,572 | €3,955 | +€2,383 | +152% |
| Furniture and vehicles | 24 | €1,641 | €758 | -€883 | -53.8% |
| Financial fixed assets | 28 | €2,375 | €2,375 | = | 0.0% |
| Current assets | 29/58 | €327,735 | €439,652 | +€111,917 | +34.1% |
| Amounts receivable within one year | 40/41 | €140,725 | €273,727 | +€133,002 | +94.5% |
| Trade receivables | 40 | €138,147 | €273,727 | +€135,580 | +98.1% |
| Other amounts receivable | 41 | €2,578 | - | -€2,578 | |
| Cash at bank and in hand | 54/58 | €185,522 | €163,821 | -€21,701 | -11.7% |
| Deferred charges and accrued income | 490/1 | €1,488 | €2,104 | +€616 | +41.4% |
| Total equity and liabilities | 10/49 | €337,879 | €450,419 | +€112,540 | +33.3% |
| Equity | 10/15 | €139,846 | €194,857 | +€55,011 | +39.3% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €132,846 | €187,857 | +€55,011 | +41.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €130,986 | €185,997 | +€55,011 | +42.0% |
| Amounts payable | 17/49 | €198,033 | €255,562 | +€57,529 | +29.1% |
| Amounts payable within one year | 42/48 | €107,836 | €135,533 | +€27,697 | +25.7% |
| Trade debts | 44 | €12,051 | €57,730 | +€45,679 | +379% |
| Suppliers | 440/4 | €12,051 | €57,730 | +€45,679 | +379% |
| Taxes, remuneration and social security | 45 | €53,681 | €59,621 | +€5,940 | +11.1% |
| Taxes | 450/3 | €9,509 | €8,413 | -€1,096 | -11.5% |
| Remuneration and social security | 454/9 | €44,172 | €51,208 | +€7,036 | +15.9% |
| Other amounts payable | 47/48 | €42,104 | €18,182 | -€23,922 | -56.8% |
| Accrued charges and deferred income | 492/3 | €90,197 | €120,029 | +€29,832 | +33.1% |
| Remuneration, social security and pensions | 62 | €189,718 | €227,055 | +€37,337 | +19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,069 | €2,847 | -€1,222 | -30.0% |
| Other operating charges | 640/8 | €1,513 | €996 | -€517 | -34.2% |
| Gross operating margin | 9900 | €217,236 | €334,825 | +€117,589 | +54.1% |
| Operating profit (loss) | 9901 | €21,936 | €103,927 | +€81,991 | +374% |
| Financial income | 75/76B | €1,086 | €497 | -€589 | -54.2% |
| Recurring financial income | 75 | €1,086 | €497 | -€589 | -54.2% |
| Financial charges | 65/66B | €2,520 | €2,561 | +€41 | +1.6% |
| Recurring financial charges | 65 | €2,520 | €2,561 | +€41 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €20,502 | €101,863 | +€81,361 | +397% |
| Income taxes | 67/77 | €7,575 | €29,452 | +€21,877 | +289% |
| Profit (loss) for the period | 9904 | €12,927 | €72,411 | +€59,484 | +460% |
| Profit (loss) for the period to be appropriated | 9905 | €12,927 | €72,411 | +€59,484 | +460% |
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 24 October 2026 via checked.be.