P.V.: 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.
P.V.
Largest movements
- Tangible fixed assets +€81,725
up €81,725 (+36.3%), from €224,855 to €306,580
of which Plant, machinery and equipment: +€51,128
- Receivables within one year -€7,231
down €7,231 (-5.9%), from €121,781 to €114,550
of which Trade receivables: -€9,152
- Cash -€4,551
down €4,551 (-50.1%), from €9,091 to €4,539
mainly Investment in fixed assets (net) (-€104,805) and Net result for the year (-€6,240)
- Debts after one year +€62,627
up €62,627 (+46.1%), from €135,880 to €198,507
- Current portion of long-term debt +€10,140
up €10,140 (+199.2%), from €5,089 to €15,230
- Profit (loss) carried forward -€6,240
down €6,240 (-4.4%), from €141,601 to €135,361
- Gross operating margin +€10,639
up €10,639 (+51.3%), from €20,725 to €31,365
- Depreciation +€8,473
up €8,473 (+58.0%), from €14,607 to €23,080
- Financial charges +€2,861
up €2,861 (+35.0%), from €8,164 to €11,026
- Taxes -€2,468
down €2,468 (-92.6%), from €2,664 to €196
- Other operating charges -€425
down €425 (-11.2%), from €3,781 to €3,356
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €358,714 | €431,607 | +€72,893 | +20.3% |
| Fixed assets | 21/28 | €224,865 | €306,590 | +€81,725 | +36.3% |
| Tangible fixed assets | 22/27 | €224,855 | €306,580 | +€81,725 | +36.3% |
| Land and buildings | 22 | €187,593 | €219,824 | +€32,231 | +17.2% |
| Plant, machinery and equipment | 23 | €35,050 | €86,178 | +€51,128 | +145.9% |
| Furniture and vehicles | 24 | €2,212 | €578 | -€1,633 | -73.8% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €133,849 | €125,017 | -€8,832 | -6.6% |
| Amounts receivable within one year | 40/41 | €121,781 | €114,550 | -€7,231 | -5.9% |
| Trade receivables | 40 | €27,914 | €18,761 | -€9,152 | -32.8% |
| Other amounts receivable | 41 | €93,868 | €95,789 | +€1,921 | +2.0% |
| Cash at bank and in hand | 54/58 | €9,091 | €4,539 | -€4,551 | -50.1% |
| Deferred charges and accrued income | 490/1 | €2,977 | €5,927 | +€2,950 | +99.1% |
| Total equity and liabilities | 10/49 | €358,714 | €431,607 | +€72,893 | +20.3% |
| Equity | 10/15 | €209,407 | €203,167 | -€6,240 | -3.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Share premium | 1100/10 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €49,214 | €49,214 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €47,231 | €47,231 | = | 0.0% |
| Distributable reserves | 133 | €124 | €124 | = | 0.0% |
| Profit (loss) carried forward | 14 | €141,601 | €135,361 | -€6,240 | -4.4% |
| Provisions and deferred taxes | 16 | €798 | €798 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €798 | €798 | = | 0.0% |
| Other liabilities and charges | 164/5 | €798 | €798 | = | 0.0% |
| Amounts payable | 17/49 | €148,509 | €227,642 | +€79,133 | +53.3% |
| Amounts payable after more than one year | 17 | €135,880 | €198,507 | +€62,627 | +46.1% |
| Financial debts | 170/4 | €135,880 | €198,507 | +€62,627 | +46.1% |
| Amounts payable within one year | 42/48 | €12,482 | €29,135 | +€16,653 | +133.4% |
| Current portion of amounts payable after more than one year | 42 | €5,089 | €15,230 | +€10,140 | +199.2% |
| Financial debts | 43 | €53 | - | -€53 | |
| Credit institutions | 430/8 | €53 | - | -€53 | |
| Trade debts | 44 | €7,109 | €10,756 | +€3,647 | +51.3% |
| Suppliers | 440/4 | €7,109 | €10,756 | +€3,647 | +51.3% |
| Taxes, remuneration and social security | 45 | €231 | €3,149 | +€2,918 | +1263.3% |
| Taxes | 450/3 | €231 | €3,149 | +€2,918 | +1263.3% |
| Accrued charges and deferred income | 492/3 | €147 | - | -€147 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,607 | €23,080 | +€8,473 | +58.0% |
| Other operating charges | 640/8 | €3,781 | €3,356 | -€425 | -11.2% |
| Gross operating margin | 9900 | €20,725 | €31,365 | +€10,639 | +51.3% |
| Operating profit (loss) | 9901 | €2,337 | €4,929 | +€2,592 | +110.9% |
| Financial income | 75/76B | €1 | €53 | +€52 | +5034.0% |
| Recurring financial income | 75 | €1 | €53 | +€52 | +5034.0% |
| Financial charges | 65/66B | €8,164 | €11,026 | +€2,861 | +35.0% |
| Recurring financial charges | 65 | €8,164 | €11,026 | +€2,861 | +35.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,826 | -€6,044 | -€218 | -3.7% |
| Income taxes | 67/77 | €2,664 | €196 | -€2,468 | -92.6% |
| Profit (loss) for the period | 9904 | -€8,490 | -€6,240 | +€2,250 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,490 | -€6,240 | +€2,250 | +26.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.