OPTION: what changed
Two fiscal 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.
What changed
OPTION
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€4.6m
2024 · -€7.0m+€2.4m
Equity
€1.4m
2024 · €2.3m-€922,002
Cash
€24,034
2024 · €12,784+€11,250
Balance sheet total
€9.3m
2024 · €14.3m-€5.0m
Largest movements
Assets
- Receivables within one year -€3.7m
down €3.7m (-77.2%), from €4.7m to €1.1m
of which Other amounts receivable: -€1.8m
- Financial fixed assets -€1.3m
down €1.3m (-15.1%), from €8.5m to €7.2m
of which Affiliated companies: -€1.9m
Equity and liabilities
- Contributions -€13.9m
down €13.9m (-72.3%), from €19.2m to €5.3m
of which Capital: -€12.1m
- Profit (loss) carried forward +€13.1m
up €13.1m (+73.8%), from -€17.7m to -€4.6m
- Debts after one year -€2.0m
down €2.0m (-55.8%), from €3.5m to €1.6m
of which Financial debts: -€1.7m
- Short-term financial debts -€1.2m
down €1.2m (-82.2%), from €1.5m to €266,536
of which Credit institutions: -€1.5m
- Trade debts -€1.2m
down €1.2m (-40.4%), from €3.0m to €1.8m
Income statement
- Financial charges -€1.3m
down €1.3m (-21.5%), from €6.2m to €4.8m
of which Non-recurring financial charges: -€1.3m
- Financial income +€1.3m
up €1.3m (+690.6%), from €190,441 to €1.5m
of which Non-recurring financial income: +€1.4m
- Turnover -€813,190
down €813,190 (-18.1%), from €4.5m to €3.7m
- Goods and materials -€715,410
down €715,410 (-35.8%), from €2.0m to €1.3m
of which Purchases: -€917,820
- Other operating income -€413,024
down €413,024 (-61.7%), from €669,932 to €256,908
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.
Result 2024
-€7.0m
Turnover
-€813,190
Other operating income
-€413,024
Goods and materials
+€715,410
Services and other goods
-€38,591
Staff costs
+€20,318
Depreciation
+€38,614
Write-downs
+€66,875
Provisions
+€15,705
Other operating charges
+€3,794
Other operating items
+€117,205
Financial income
+€1.3m
Financial charges
+€1.3m
Taxes
+€2,873
Result 2025
-€4.6m
Cash bridge derived
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.
From operations
-€1.9m
Investment
+€1.0m
Financing
+€854,843
Cash 2024
€12,784
From operations (derived)
-€1.9m
Net result for the year
-€4.6m
Depreciation
+€286,809
Stocks and contracts
+€82,214
Receivables within one year
+€3.7m
Deferred charges and accrued income
-€36,811
Provisions
+€10,458
Trade debts
-€1.2m
Tax, wage and social debts
-€64,700
Advances received
-€16,833
Other debts
-€95,917
Accrued charges and deferred income
+€152,689
Investment (derived)
+€1.0m
Investment in fixed assets (net)
+€1.0m
Financing
+€854,843
Debts after one year
-€2.0m
Current portion of long-term debt
+€342,363
Short-term financial debts
-€1.2m
Contributions, distributions and other
+€3.7m
Cash 2025
€24,034
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €14,337,250 | €9,328,284 | -€5.0m | -34.9% |
| Fixed assets | 21/28 | €9,195,752 | €7,874,319 | -€1.3m | -14.4% |
| Intangible fixed assets | 21 | €640,214 | €620,522 | -€19,692 | -3.1% |
| Tangible fixed assets | 22/27 | €55,329 | €39,618 | -€15,710 | -28.4% |
| Plant, machinery and equipment | 23 | €5,566 | €4,352 | -€1,214 | -21.8% |
| Other tangible fixed assets | 26 | €49,762 | €35,267 | -€14,496 | -29.1% |
| Financial fixed assets | 28 | €8,500,209 | €7,214,179 | -€1.3m | -15.1% |
| Affiliated companies | 280/1 | €8,457,997 | €6,536,000 | -€1.9m | -22.7% |
| Participating interests | 280 | €8,457,997 | €6,536,000 | -€1.9m | -22.7% |
| Companies linked by participating interests | 282/3 | €1 | €632,129 | +€632,128 | +63212800.0% |
| Participating interests | 282 | €1 | €632,129 | +€632,128 | +63212800.0% |
| Other financial fixed assets | 284/8 | €42,211 | €46,050 | +€3,839 | +9.1% |
| Amounts receivable and cash guarantees | 285/8 | €42,211 | €46,050 | +€3,839 | +9.1% |
| Current assets | 29/58 | €5,141,499 | €1,453,965 | -€3.7m | -71.7% |
| Stocks and contracts in progress | 3 | €349,034 | €266,820 | -€82,214 | -23.6% |
| Stocks | 30/36 | €349,034 | €266,820 | -€82,214 | -23.6% |
| Raw materials and consumables | 30/31 | €182,844 | €196,762 | +€13,918 | +7.6% |
| Work in progress | 32 | €145,563 | €59,930 | -€85,633 | -58.8% |
| Finished goods | 33 | €20,627 | €10,128 | -€10,499 | -50.9% |
| Amounts receivable within one year | 40/41 | €4,733,316 | €1,079,935 | -€3.7m | -77.2% |
| Trade receivables | 40 | €2,746,317 | €941,778 | -€1.8m | -65.7% |
| Other amounts receivable | 41 | €1,986,999 | €138,157 | -€1.8m | -93.0% |
| Cash at bank and in hand | 54/58 | €12,784 | €24,034 | +€11,250 | +88.0% |
| Deferred charges and accrued income | 490/1 | €46,365 | €83,177 | +€36,811 | +79.4% |
| Total equity and liabilities | 10/49 | €14,337,250 | €9,328,284 | -€5.0m | -34.9% |
| Equity | 10/15 | €2,305,196 | €1,383,194 | -€922,002 | -40.0% |
| Contributions | 10/11 | €19,231,526 | €5,318,287 | -€13.9m | -72.3% |
| Capital | 10 | €14,090,156 | €1,950,216 | -€12.1m | -86.2% |
| Issued capital | 100 | €14,090,156 | €1,950,216 | -€12.1m | -86.2% |
| Outside capital | 11 | €5,141,371 | €3,368,071 | -€1.8m | -34.5% |
| Share premium | 1100/10 | €5,141,371 | €3,368,071 | -€1.8m | -34.5% |
| Reserves | 13 | €611,607 | €611,607 | = | 0.0% |
| Non-distributable reserves | 130/1 | €611,607 | €611,607 | = | 0.0% |
| Legal reserve | 130 | €611,607 | €611,607 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,697,239 | -€4,632,478 | +€13.1m | +73.8% |
| Investment grants | 15 | €159,302 | €85,778 | -€73,524 | -46.2% |
| Provisions and deferred taxes | 16 | €206,890 | €217,348 | +€10,458 | +5.1% |
| Provisions for liabilities and charges | 160/5 | €206,890 | €217,348 | +€10,458 | +5.1% |
| Pensions and similar obligations | 160 | €179,164 | €187,902 | +€8,738 | +4.9% |
| Other liabilities and charges | 164/5 | €27,726 | €29,446 | +€1,720 | +6.2% |
| Amounts payable | 17/49 | €11,825,165 | €7,727,742 | -€4.1m | -34.7% |
| Amounts payable after more than one year | 17 | €3,522,473 | €1,557,941 | -€2.0m | -55.8% |
| Financial debts | 170/4 | €2,750,000 | €1,055,252 | -€1.7m | -61.6% |
| Other loans | 174 | €2,750,000 | €1,055,252 | -€1.7m | -61.6% |
| Trade debts | 175 | €745,123 | €502,689 | -€242,434 | -32.5% |
| Suppliers | 1750 | €745,123 | €502,689 | -€242,434 | -32.5% |
| Other amounts payable | 178/9 | €27,350 | - | -€27,350 | |
| Amounts payable within one year | 42/48 | €8,183,785 | €5,898,206 | -€2.3m | -27.9% |
| Current portion of amounts payable after more than one year | 42 | €443,203 | €785,566 | +€342,363 | +77.2% |
| Financial debts | 43 | €1,500,000 | €266,536 | -€1.2m | -82.2% |
| Credit institutions | 430/8 | €1,500,000 | - | -€1.5m | |
| Other loans | 439 | - | €266,536 | +€266,536 | |
| Trade debts | 44 | €3,011,859 | €1,794,830 | -€1.2m | -40.4% |
| Suppliers | 440/4 | €3,011,859 | €1,794,830 | -€1.2m | -40.4% |
| Advances received on contracts in progress | 46 | €19,233 | €2,400 | -€16,833 | -87.5% |
| Taxes, remuneration and social security | 45 | €721,652 | €656,953 | -€64,700 | -9.0% |
| Taxes | 450/3 | €302,446 | €126,124 | -€176,322 | -58.3% |
| Remuneration and social security | 454/9 | €419,206 | €530,828 | +€111,622 | +26.6% |
| Other amounts payable | 47/48 | €2,487,838 | €2,391,922 | -€95,917 | -3.9% |
| Accrued charges and deferred income | 492/3 | €118,907 | €271,595 | +€152,689 | +128.4% |
| Operating income | 70/76A | €5,209,937 | €4,100,929 | -€1.1m | -21.3% |
| Turnover | 70 | €4,501,935 | €3,688,746 | -€813,190 | -18.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€91,205 | -€96,132 | -€4,927 | -5.4% |
| Own construction capitalised | 72 | €129,275 | €251,407 | +€122,132 | +94.5% |
| Other operating income | 74 | €669,932 | €256,908 | -€413,024 | -61.7% |
| Operating charges | 60/66A | €6,212,128 | €5,390,003 | -€822,125 | -13.2% |
| Goods for resale, raw materials and consumables | 60 | €1,999,226 | €1,283,817 | -€715,410 | -35.8% |
| Purchases | 600/8 | €2,044,152 | €1,126,331 | -€917,820 | -44.9% |
| Change in stocks: decrease (increase) | 609 | -€44,925 | €157,485 | +€202,410 | |
| Services and other goods | 61 | €2,231,016 | €2,269,608 | +€38,591 | +1.7% |
| Remuneration, social security and pensions | 62 | €1,713,490 | €1,693,172 | -€20,318 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €325,424 | €286,809 | -€38,614 | -11.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€94,111 | -€160,986 | -€66,875 | -71.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €26,163 | €10,458 | -€15,705 | -60.0% |
| Other operating charges | 640/8 | €10,920 | €7,125 | -€3,794 | -34.7% |
| Operating profit (loss) | 9901 | -€1,002,191 | -€1,289,074 | -€286,883 | -28.6% |
| Financial income | 75/76B | €190,441 | €1,505,574 | +€1.3m | +690.6% |
| Recurring financial income | 75 | €170,902 | €130,646 | -€40,257 | -23.6% |
| Income from current assets | 751 | €85,034 | €104 | -€84,930 | -99.9% |
| Other financial income | 752/9 | €85,868 | €130,542 | +€44,673 | +52.0% |
| Non-recurring financial income | 76B | €19,539 | €1,374,928 | +€1.4m | +6937.0% |
| Financial charges | 65/66B | €6,174,285 | €4,848,876 | -€1.3m | -21.5% |
| Recurring financial charges | 65 | €626,285 | €559,674 | -€66,611 | -10.6% |
| Debt charges | 650 | €607,099 | €534,878 | -€72,222 | -11.9% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €2,263 | +€2,263 | |
| Other financial charges | 652/9 | €19,186 | €22,533 | +€3,348 | +17.4% |
| Non-recurring financial charges | 66B | €5,548,000 | €4,289,202 | -€1.3m | -22.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,986,035 | -€4,632,377 | +€2.4m | +33.7% |
| Income taxes | 67/77 | €2,974 | €101 | -€2,873 | -96.6% |
| Taxes | 670/3 | €2,974 | €101 | -€2,873 | -96.6% |
| Profit (loss) for the period | 9904 | -€6,989,009 | -€4,632,478 | +€2.4m | +33.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,989,009 | -€4,632,478 | +€2.4m | +33.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.