ONLINE ED: 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.
ONLINE ED
Largest movements
- Receivables within one year +€8,757
up €8,757 (+25.3%), from €34,563 to €43,320
of which Trade receivables: +€5,480
- Tangible fixed assets -€3,964
down €3,964 (-5.2%), from €75,584 to €71,621
of which Land and buildings: -€3,183
- Cash +€3,928
up €3,928 (+93.7%), from €4,194 to €8,122
mainly Trade debts (+€16,780) and Depreciation (+€12,907)
- Intangible fixed assets -€2,445
down €2,445 (-30.1%), from €8,115 to €5,670
- Deferred charges and accrued income +€1,370
up €1,370 (+20.3%), from €6,762 to €8,132
- Trade debts +€16,780
up €16,780 (+128%), from €13,123 to €29,903
- Reserves +€7,697
up €7,697 (+1,072%), from €718 to €8,415
- Debts after one year -€6,883
down €6,883 (-18.5%), from €37,233 to €30,350
- Other debts -€4,731
down €4,731 (-13.9%), from €34,112 to €29,381
- Accrued charges and deferred income -€3,988
down €3,988 (-81.6%), from €4,888 to €900
- Financial charges -€5,147
down €5,147 (-68.8%), from €7,480 to €2,333
- Gross operating margin +€2,408
up €2,408 (+2.8%), from €86,977 to €89,385
- Financial income +€2,387
up €2,387 (+408%), from €585 to €2,971
- Taxes +€1,676
up €1,676 (+625%), from €268 to €1,943
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 | €129,219 | €136,865 | +€7,646 | +5.9% |
| Fixed assets | 21/28 | €83,700 | €77,290 | -€6,409 | -7.7% |
| Intangible fixed assets | 21 | €8,115 | €5,670 | -€2,445 | -30.1% |
| Tangible fixed assets | 22/27 | €75,584 | €71,621 | -€3,964 | -5.2% |
| Land and buildings | 22 | €71,748 | €68,564 | -€3,183 | -4.4% |
| Plant, machinery and equipment | 23 | €802 | €1,596 | +€794 | +99.0% |
| Furniture and vehicles | 24 | €3,035 | €1,460 | -€1,574 | -51.9% |
| Current assets | 29/58 | €45,520 | €59,574 | +€14,055 | +30.9% |
| Amounts receivable within one year | 40/41 | €34,563 | €43,320 | +€8,757 | +25.3% |
| Trade receivables | 40 | €12,490 | €17,971 | +€5,480 | +43.9% |
| Other amounts receivable | 41 | €22,073 | €25,349 | +€3,277 | +14.8% |
| Cash at bank and in hand | 54/58 | €4,194 | €8,122 | +€3,928 | +93.7% |
| Deferred charges and accrued income | 490/1 | €6,762 | €8,132 | +€1,370 | +20.3% |
| Total equity and liabilities | 10/49 | €129,219 | €136,865 | +€7,646 | +5.9% |
| Equity | 10/15 | €19,268 | €26,965 | +€7,697 | +39.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €718 | €8,415 | +€7,697 | +1,072% |
| Distributable reserves | 133 | €718 | €8,415 | +€7,697 | +1,072% |
| Amounts payable | 17/49 | €109,951 | €109,900 | -€51 | 0.0% |
| Amounts payable after more than one year | 17 | €37,233 | €30,350 | -€6,883 | -18.5% |
| Financial debts | 170/4 | €37,233 | €30,350 | -€6,883 | -18.5% |
| Amounts payable within one year | 42/48 | €67,830 | €78,650 | +€10,820 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €6,735 | €6,883 | +€148 | +2.2% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €13,123 | €29,903 | +€16,780 | +128% |
| Suppliers | 440/4 | €13,123 | €29,903 | +€16,780 | +128% |
| Taxes, remuneration and social security | 45 | €13,859 | €12,483 | -€1,377 | -9.9% |
| Taxes | 450/3 | €6,897 | €3,079 | -€3,818 | -55.4% |
| Remuneration and social security | 454/9 | €6,962 | €9,403 | +€2,441 | +35.1% |
| Other amounts payable | 47/48 | €34,112 | €29,381 | -€4,731 | -13.9% |
| Accrued charges and deferred income | 492/3 | €4,888 | €900 | -€3,988 | -81.6% |
| Remuneration, social security and pensions | 62 | €65,833 | €65,380 | -€453 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,161 | €12,907 | +€746 | +6.1% |
| Other operating charges | 640/8 | €1,736 | €2,096 | +€360 | +20.7% |
| Gross operating margin | 9900 | €86,977 | €89,385 | +€2,408 | +2.8% |
| Operating profit (loss) | 9901 | €7,248 | €9,002 | +€1,755 | +24.2% |
| Financial income | 75/76B | €585 | €2,971 | +€2,387 | +408% |
| Recurring financial income | 75 | €585 | €2,971 | +€2,387 | +408% |
| Financial charges | 65/66B | €7,480 | €2,333 | -€5,147 | -68.8% |
| Recurring financial charges | 65 | €7,480 | €2,333 | -€5,147 | -68.8% |
| Profit (loss) for the period before taxes | 9903 | €352 | €9,640 | +€9,288 | +2,638% |
| Income taxes | 67/77 | €268 | €1,943 | +€1,676 | +625% |
| Profit (loss) for the period | 9904 | €84 | €7,697 | +€7,613 | +9,048% |
| Profit (loss) for the period to be appropriated | 9905 | €84 | €7,697 | +€7,613 | +9,048% |
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 20 October 2026 via checked.be.