ORGANIC: 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
ORGANIC
NACE 77.392, Rental and leasing activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€203
2024 · €193,191-€192,988
Equity
€636,213
2024 · €636,010+€203
Cash
€13,194
2024 · €3,806+€9,388
Balance sheet total
€3.3m
2024 · €4.0m-€749,149
Largest movements
Assets
- Receivables within one year -€1.1m
down €1.1m (-50.3%), from €2.3m to €1.1m
of which Trade receivables: -€1.3m
- Stocks and contracts +€630,922
up €630,922 (+249.5%), from €252,897 to €883,819
- Tangible fixed assets -€241,387
down €241,387 (-18.1%), from €1.3m to €1.1m
of which Plant, machinery and equipment: -€145,892
Equity and liabilities
- Trade debts -€746,687
down €746,687 (-40.0%), from €1.9m to €1.1m
- Current portion of long-term debt -€114,328
down €114,328 (-16.6%), from €690,686 to €576,358
- Debts after one year +€89,398
up €89,398 (+19.1%), from €469,258 to €558,656
Income statement
- Depreciation +€114,043
up €114,043 (+38.0%), from €300,334 to €414,377
- Gross operating margin -€98,454
down €98,454 (-6.0%), from €1.6m to €1.5m
- Staff costs -€68,046
down €68,046 (-7.3%), from €928,731 to €860,685
- Taxes -€66,460
down €66,460 (-79.7%), from €83,423 to €16,963
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
€193,191
Gross operating margin
-€98,454
Staff costs
+€68,046
Depreciation
-€114,043
Other operating charges
+€5,964
Other operating items
-€123,674
Financial income
+€7,953
Financial charges
-€5,240
Taxes
+€66,460
Result 2025
€203
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
+€170,858
Investment
-€136,541
Financing
-€24,930
Cash 2024
€3,806
From operations (derived)
+€170,858
Net result for the year
+€203
Depreciation
+€414,377
Stocks and contracts
-€630,922
Receivables within one year
+€1.1m
Deferred charges and accrued income
-€24,599
Trade debts
-€746,687
Tax, wage and social debts
+€2,561
Other debts
+€14,812
Accrued charges and deferred income
+€4,893
Investment (derived)
-€136,541
Investment in fixed assets (net)
-€136,541
Financing
-€24,930
Debts after one year
+€89,398
Current portion of long-term debt
-€114,328
Cash 2025
€13,194
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,044,527 | €3,295,377 | -€749,149 | -18.5% |
| Fixed assets | 21/28 | €1,516,343 | €1,238,507 | -€277,836 | -18.3% |
| Intangible fixed assets | 21 | €164,540 | €128,090 | -€36,449 | -22.2% |
| Tangible fixed assets | 22/27 | €1,330,179 | €1,088,792 | -€241,387 | -18.1% |
| Land and buildings | 22 | €118,734 | €99,589 | -€19,145 | -16.1% |
| Plant, machinery and equipment | 23 | €1,008,922 | €863,029 | -€145,892 | -14.5% |
| Furniture and vehicles | 24 | €17,492 | €16,668 | -€824 | -4.7% |
| Leasing and similar rights | 25 | €185,030 | €109,506 | -€75,524 | -40.8% |
| Financial fixed assets | 28 | €21,625 | €21,625 | = | 0.0% |
| Current assets | 29/58 | €2,528,183 | €2,056,870 | -€471,313 | -18.6% |
| Stocks and contracts in progress | 3 | €252,897 | €883,819 | +€630,922 | +249.5% |
| Stocks | 30/36 | €252,897 | €883,819 | +€630,922 | +249.5% |
| Amounts receivable within one year | 40/41 | €2,258,293 | €1,122,072 | -€1.1m | -50.3% |
| Trade receivables | 40 | €1,856,849 | €562,411 | -€1.3m | -69.7% |
| Other amounts receivable | 41 | €401,444 | €559,661 | +€158,217 | +39.4% |
| Cash at bank and in hand | 54/58 | €3,806 | €13,194 | +€9,388 | +246.7% |
| Deferred charges and accrued income | 490/1 | €13,188 | €37,786 | +€24,599 | +186.5% |
| Total equity and liabilities | 10/49 | €4,044,527 | €3,295,377 | -€749,149 | -18.5% |
| Equity | 10/15 | €636,010 | €636,213 | +€203 | 0.0% |
| Contributions | 10/11 | €240,000 | €240,000 | = | 0.0% |
| Capital | 10 | €240,000 | €240,000 | = | 0.0% |
| Issued capital | 100 | €240,000 | €240,000 | = | 0.0% |
| Reserves | 13 | €84,000 | €84,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,000 | €24,000 | = | 0.0% |
| Legal reserve | 130 | €24,000 | €24,000 | = | 0.0% |
| Distributable reserves | 133 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €312,010 | €312,213 | +€203 | +0.1% |
| Amounts payable | 17/49 | €3,408,516 | €2,659,164 | -€749,352 | -22.0% |
| Amounts payable after more than one year | 17 | €469,258 | €558,656 | +€89,398 | +19.1% |
| Financial debts | 170/4 | €469,258 | €558,656 | +€89,398 | +19.1% |
| Amounts payable within one year | 42/48 | €2,901,440 | €2,057,798 | -€843,642 | -29.1% |
| Current portion of amounts payable after more than one year | 42 | €690,686 | €576,358 | -€114,328 | -16.6% |
| Trade debts | 44 | €1,868,665 | €1,121,978 | -€746,687 | -40.0% |
| Suppliers | 440/4 | €1,868,665 | €1,121,978 | -€746,687 | -40.0% |
| Taxes, remuneration and social security | 45 | €256,901 | €259,462 | +€2,561 | +1.0% |
| Taxes | 450/3 | €169,649 | €136,405 | -€33,244 | -19.6% |
| Remuneration and social security | 454/9 | €87,252 | €123,057 | +€35,805 | +41.0% |
| Other amounts payable | 47/48 | €85,188 | €100,000 | +€14,812 | +17.4% |
| Accrued charges and deferred income | 492/3 | €37,818 | €42,711 | +€4,893 | +12.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €928,731 | €860,685 | -€68,046 | -7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €300,334 | €414,377 | +€114,043 | +38.0% |
| Other operating charges | 640/8 | €28,067 | €22,103 | -€5,964 | -21.2% |
| Non-recurring operating charges | 66A | €14,185 | €137,859 | +€123,674 | +871.9% |
| Gross operating margin | 9900 | €1,644,335 | €1,545,881 | -€98,454 | -6.0% |
| Operating profit (loss) | 9901 | €373,019 | €110,857 | -€262,161 | -70.3% |
| Financial income | 75/76B | €3,686 | €11,639 | +€7,953 | +215.8% |
| Recurring financial income | 75 | €3,686 | €11,639 | +€7,953 | +215.8% |
| Financial charges | 65/66B | €100,091 | €105,331 | +€5,240 | +5.2% |
| Recurring financial charges | 65 | €100,091 | €105,331 | +€5,240 | +5.2% |
| Profit (loss) for the period before taxes | 9903 | €276,614 | €17,165 | -€259,448 | -93.8% |
| Income taxes | 67/77 | €83,423 | €16,963 | -€66,460 | -79.7% |
| Profit (loss) for the period | 9904 | €193,191 | €203 | -€192,988 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €193,191 | €203 | -€192,988 | -99.9% |
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 1 October 2026 via checked.be.