P en L: 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.
P en L
Largest movements
- Cash -€26,682
down €26,682 (-18.5%), from €144,022 to €117,340
mainly Accrued charges and deferred income (-€62,505) and Receivables within one year (-€11,010)
- Receivables within one year +€11,010
up €11,010 (+4.7%), from €232,414 to €243,425
of which Trade receivables: +€10,459
- Deferred charges and accrued income +€5,119
up €5,119 (+934%), from €548 to €5,667
- Accrued charges and deferred income -€62,505
down €62,505 (-99.0%), from €63,105 to €600
- Reserves +€20,899
up €20,899 (+32.9%), from €63,591 to €84,489
of which Distributable reserves: +€20,899
- Trade debts +€19,127
up €19,127 (+48.6%), from €39,315 to €58,441
- Current portion of long-term debt +€11,912
up €11,912 (+673%), from €1,770 to €13,682
- Other debts +€6,329
up €6,329 (+95.8%), from €6,609 to €12,938
- Gross operating margin +€21,599
up €21,599 (+115%), from €18,762 to €40,361
- Taxes +€6,739
up €6,739 (+143%), from €4,713 to €11,452
- Financial charges -€3,891
down €3,891 (-83.9%), from €4,636 to €745
- Other operating charges +€2,224
up €2,224 (+245%), from €909 to €3,133
- Financial income -€1,927
down €1,927 (-72.7%), from €2,650 to €723
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 | €386,136 | €374,594 | -€11,542 | -3.0% |
| Fixed assets | 21/28 | €9,152 | €8,162 | -€990 | -10.8% |
| Tangible fixed assets | 22/27 | €9,152 | €8,162 | -€990 | -10.8% |
| Plant, machinery and equipment | 23 | €4,554 | €2,625 | -€1,928 | -42.3% |
| Furniture and vehicles | 24 | €4,599 | €5,537 | +€938 | +20.4% |
| Current assets | 29/58 | €376,984 | €366,432 | -€10,552 | -2.8% |
| Amounts receivable within one year | 40/41 | €232,414 | €243,425 | +€11,010 | +4.7% |
| Trade receivables | 40 | €229,913 | €240,371 | +€10,459 | +4.5% |
| Other amounts receivable | 41 | €2,502 | €3,053 | +€552 | +22.1% |
| Cash at bank and in hand | 54/58 | €144,022 | €117,340 | -€26,682 | -18.5% |
| Deferred charges and accrued income | 490/1 | €548 | €5,667 | +€5,119 | +934% |
| Total equity and liabilities | 10/49 | €386,136 | €374,594 | -€11,542 | -3.0% |
| Equity | 10/15 | €158,166 | €177,247 | +€19,081 | +12.1% |
| Contributions | 10/11 | €62,599 | €62,599 | = | 0.0% |
| Capital | 10 | €62,599 | €62,599 | = | 0.0% |
| Issued capital | 100 | €62,599 | €62,599 | = | 0.0% |
| Reserves | 13 | €63,591 | €84,489 | +€20,899 | +32.9% |
| Non-distributable reserves | 130/1 | €6,260 | €6,260 | = | 0.0% |
| Legal reserve | 130 | €6,260 | €6,260 | = | 0.0% |
| Distributable reserves | 133 | €57,331 | €78,230 | +€20,899 | +36.5% |
| Profit (loss) carried forward | 14 | €31,976 | €30,159 | -€1,817 | -5.7% |
| Amounts payable | 17/49 | €227,971 | €197,347 | -€30,624 | -13.4% |
| Amounts payable after more than one year | 17 | €101,075 | €100,000 | -€1,075 | -1.1% |
| Financial debts | 170/4 | €101,075 | €100,000 | -€1,075 | -1.1% |
| Amounts payable within one year | 42/48 | €63,790 | €96,747 | +€32,957 | +51.7% |
| Current portion of amounts payable after more than one year | 42 | €1,770 | €13,682 | +€11,912 | +673% |
| Trade debts | 44 | €39,315 | €58,441 | +€19,127 | +48.6% |
| Suppliers | 440/4 | €39,315 | €58,441 | +€19,127 | +48.6% |
| Taxes, remuneration and social security | 45 | €16,097 | €11,685 | -€4,411 | -27.4% |
| Taxes | 450/3 | €14,097 | €11,685 | -€2,411 | -17.1% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €6,609 | €12,938 | +€6,329 | +95.8% |
| Accrued charges and deferred income | 492/3 | €63,105 | €600 | -€62,505 | -99.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,318 | €4,855 | -€1,463 | -23.2% |
| Other operating charges | 640/8 | €909 | €3,133 | +€2,224 | +245% |
| Gross operating margin | 9900 | €18,762 | €40,361 | +€21,599 | +115% |
| Operating profit (loss) | 9901 | €11,535 | €32,373 | +€20,838 | +181% |
| Financial income | 75/76B | €2,650 | €723 | -€1,927 | -72.7% |
| Recurring financial income | 75 | €2,650 | €723 | -€1,927 | -72.7% |
| Financial charges | 65/66B | €4,636 | €745 | -€3,891 | -83.9% |
| Recurring financial charges | 65 | €4,636 | €745 | -€3,891 | -83.9% |
| Profit (loss) for the period before taxes | 9903 | €9,549 | €32,351 | +€22,802 | +239% |
| Income taxes | 67/77 | €4,713 | €11,452 | +€6,739 | +143% |
| Profit (loss) for the period | 9904 | €4,836 | €20,900 | +€16,063 | +332% |
| Profit (loss) for the period to be appropriated | 9905 | €4,836 | €20,900 | +€16,063 | +332% |
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 21 October 2026 via checked.be.