Open the fridge: 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.
Open the fridge
Largest movements
- Receivables within one year +€100,139
up €100,139 (+55.1%), from €181,788 to €281,927
of which Trade receivables: +€55,417
- Tangible fixed assets -€25,913
down €25,913 (-3.5%), from €745,765 to €719,852
of which Land and buildings: -€17,781
- Intangible fixed assets -€14,500
down €14,500 (-10.0%), from €144,958 to €130,458
- Trade debts +€134,784
up €134,784 (+31.7%), from €425,039 to €559,823
- Debts after one year -€69,510
down €69,510 (-10.3%), from €675,855 to €606,345
- Staff costs +€24,111
up €24,111 (+15.5%), from €155,185 to €179,296
- Gross operating margin +€21,270
up €21,270 (+8.7%), from €244,066 to €265,336
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 | €1,274,106 | €1,331,246 | +€57,140 | +4.5% |
| Formation expenses | 20 | €792 | €535 | -€257 | -32.4% |
| Fixed assets | 21/28 | €903,223 | €862,810 | -€40,413 | -4.5% |
| Intangible fixed assets | 21 | €144,958 | €130,458 | -€14,500 | -10.0% |
| Tangible fixed assets | 22/27 | €745,765 | €719,852 | -€25,913 | -3.5% |
| Land and buildings | 22 | €687,765 | €669,984 | -€17,781 | -2.6% |
| Plant, machinery and equipment | 23 | €58,000 | €49,868 | -€8,132 | -14.0% |
| Financial fixed assets | 28 | €12,500 | €12,500 | = | 0.0% |
| Current assets | 29/58 | €370,091 | €467,901 | +€97,810 | +26.4% |
| Amounts receivable within one year | 40/41 | €181,788 | €281,927 | +€100,139 | +55.1% |
| Trade receivables | 40 | €180,075 | €235,492 | +€55,417 | +30.8% |
| Other amounts receivable | 41 | €1,713 | €46,435 | +€44,722 | +2,611% |
| Cash at bank and in hand | 54/58 | €166,991 | €161,600 | -€5,391 | -3.2% |
| Deferred charges and accrued income | 490/1 | €21,312 | €24,374 | +€3,062 | +14.4% |
| Total equity and liabilities | 10/49 | €1,274,106 | €1,331,246 | +€57,140 | +4.5% |
| Equity | 10/15 | €78,617 | €78,652 | +€35 | 0.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,417 | €72,452 | +€35 | 0.0% |
| Amounts payable | 17/49 | €1,195,489 | €1,252,594 | +€57,105 | +4.8% |
| Amounts payable after more than one year | 17 | €675,855 | €606,345 | -€69,510 | -10.3% |
| Financial debts | 170/4 | €675,855 | €606,345 | -€69,510 | -10.3% |
| Amounts payable within one year | 42/48 | €519,634 | €646,249 | +€126,615 | +24.4% |
| Current portion of amounts payable after more than one year | 42 | €68,089 | €69,510 | +€1,421 | +2.1% |
| Trade debts | 44 | €425,039 | €559,823 | +€134,784 | +31.7% |
| Suppliers | 440/4 | €425,039 | €559,823 | +€134,784 | +31.7% |
| Taxes, remuneration and social security | 45 | €26,506 | €16,916 | -€9,590 | -36.2% |
| Taxes | 450/3 | €6,864 | - | -€6,864 | |
| Remuneration and social security | 454/9 | €19,642 | €16,916 | -€2,726 | -13.9% |
| Remuneration, social security and pensions | 62 | €155,185 | €179,296 | +€24,111 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,687 | €50,981 | -€706 | -1.4% |
| Other operating charges | 640/8 | €3,449 | €3,239 | -€210 | -6.1% |
| Gross operating margin | 9900 | €244,066 | €265,336 | +€21,270 | +8.7% |
| Operating profit (loss) | 9901 | €33,745 | €31,820 | -€1,925 | -5.7% |
| Financial income | 75/76B | €2,465 | €1,835 | -€630 | -25.6% |
| Recurring financial income | 75 | €2,465 | €1,835 | -€630 | -25.6% |
| Financial charges | 65/66B | €34,453 | €32,075 | -€2,378 | -6.9% |
| Recurring financial charges | 65 | €34,453 | €32,075 | -€2,378 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €1,757 | €1,580 | -€177 | -10.1% |
| Income taxes | 67/77 | €164 | €1,545 | +€1,381 | +842% |
| Profit (loss) for the period | 9904 | €1,593 | €35 | -€1,558 | -97.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,593 | €35 | -€1,558 | -97.8% |
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 27 October 2026 via checked.be.