Outline Events: 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.
Outline Events
Largest movements
- Tangible fixed assets -€36,596
down €36,596 (-27.7%), from €132,113 to €95,517
of which Plant, machinery and equipment: -€35,453
- Receivables within one year -€25,326
down €25,326 (-18.9%), from €133,736 to €108,411
of which Trade receivables: -€35,150
- Cash +€18,282
up €18,282 (+37.5%), from €48,696 to €66,978
mainly Net result for the year (+€40,817) and Depreciation (+€36,596)
- Deferred charges and accrued income -€8,761
down €8,761 (-75.2%), from €11,643 to €2,882
- Trade debts -€41,129
down €41,129 (-87.9%), from €46,789 to €5,660
- Reserves +€40,817
up €40,817 (+24.2%), from €168,840 to €209,657
- Accrued charges and deferred income -€38,387
down €38,387 (-96.0%), from €40,000 to €1,613
- Debts after one year -€16,463
down €16,463 (-45.2%), from €36,428 to €19,965
- Gross operating margin -€13,816
down €13,816 (-12.1%), from €114,571 to €100,755
- Depreciation +€7,097
up €7,097 (+24.1%), from €29,499 to €36,596
- Taxes -€3,714
down €3,714 (-26.1%), from €14,247 to €10,533
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 | €326,189 | €273,788 | -€52,401 | -16.1% |
| Fixed assets | 21/28 | €132,113 | €95,517 | -€36,596 | -27.7% |
| Tangible fixed assets | 22/27 | €132,113 | €95,517 | -€36,596 | -27.7% |
| Plant, machinery and equipment | 23 | €129,363 | €93,909 | -€35,453 | -27.4% |
| Furniture and vehicles | 24 | €2,751 | €1,608 | -€1,143 | -41.5% |
| Current assets | 29/58 | €194,075 | €178,270 | -€15,805 | -8.1% |
| Amounts receivable within one year | 40/41 | €133,736 | €108,411 | -€25,326 | -18.9% |
| Trade receivables | 40 | €76,823 | €41,673 | -€35,150 | -45.8% |
| Other amounts receivable | 41 | €56,913 | €66,738 | +€9,824 | +17.3% |
| Cash at bank and in hand | 54/58 | €48,696 | €66,978 | +€18,282 | +37.5% |
| Deferred charges and accrued income | 490/1 | €11,643 | €2,882 | -€8,761 | -75.2% |
| Total equity and liabilities | 10/49 | €326,189 | €273,788 | -€52,401 | -16.1% |
| Equity | 10/15 | €172,840 | €213,657 | +€40,817 | +23.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €168,840 | €209,657 | +€40,817 | +24.2% |
| Distributable reserves | 133 | €168,840 | €209,657 | +€40,817 | +24.2% |
| Amounts payable | 17/49 | €153,348 | €60,130 | -€93,218 | -60.8% |
| Amounts payable after more than one year | 17 | €36,428 | €19,965 | -€16,463 | -45.2% |
| Financial debts | 170/4 | €36,428 | €19,965 | -€16,463 | -45.2% |
| Amounts payable within one year | 42/48 | €76,920 | €38,552 | -€38,368 | -49.9% |
| Current portion of amounts payable after more than one year | 42 | €15,885 | €16,463 | +€578 | +3.6% |
| Trade debts | 44 | €46,789 | €5,660 | -€41,129 | -87.9% |
| Suppliers | 440/4 | €46,789 | €5,660 | -€41,129 | -87.9% |
| Taxes, remuneration and social security | 45 | €14,247 | €16,430 | +€2,183 | +15.3% |
| Taxes | 450/3 | €14,247 | €16,269 | +€2,022 | +14.2% |
| Remuneration and social security | 454/9 | - | €161 | +€161 | |
| Accrued charges and deferred income | 492/3 | €40,000 | €1,613 | -€38,387 | -96.0% |
| Remuneration, social security and pensions | 62 | €11,280 | €10,503 | -€776 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,499 | €36,596 | +€7,097 | +24.1% |
| Other operating charges | 640/8 | €452 | €379 | -€73 | -16.1% |
| Gross operating margin | 9900 | €114,571 | €100,755 | -€13,816 | -12.1% |
| Operating profit (loss) | 9901 | €73,340 | €53,276 | -€20,064 | -27.4% |
| Financial income | 75/76B | €30 | - | -€30 | |
| Recurring financial income | 75 | €30 | - | -€30 | |
| Financial charges | 65/66B | €2,446 | €1,927 | -€519 | -21.2% |
| Recurring financial charges | 65 | €2,446 | €1,927 | -€519 | -21.2% |
| Profit (loss) for the period before taxes | 9903 | €70,925 | €51,350 | -€19,575 | -27.6% |
| Income taxes | 67/77 | €14,247 | €10,533 | -€3,714 | -26.1% |
| Profit (loss) for the period | 9904 | €56,678 | €40,817 | -€15,862 | -28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €56,678 | €40,817 | -€15,862 | -28.0% |
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 19 October 2026 via checked.be.