Pain perdu: 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.
Pain perdu
Largest movements
- Cash +€28,995
up €28,995 (+44.1%), from €65,709 to €94,704
mainly Net result for the year (+€75,216) and Other debts (+€22,734)
- Receivables within one year -€8,740
down €8,740 (-13.7%), from €63,944 to €55,204
of which Other amounts receivable: -€12,171
- Tangible fixed assets -€6,174
down €6,174 (-25.8%), from €23,936 to €17,762
of which Furniture and vehicles: -€4,161
- Stocks and contracts +€2,055
up €2,055 (+15.5%), from €13,218 to €15,273
- Other debts +€22,734
up €22,734 (+58.0%), from €39,182 to €61,916
- Trade debts -€21,260
down €21,260 (-28.4%), from €74,905 to €53,645
- Profit (loss) carried forward +€15,216
up €15,216, from -€14,998 to €218
- Gross operating margin +€63,029
up €63,029 (+12.2%), from €518,052 to €581,081
- Staff costs -€47,470
down €47,470 (-9.4%), from €506,716 to €459,246
- Taxes +€28,247
up €28,247 (+2,298%), from €1,229 to €29,476
- Depreciation -€9,425
down €9,425 (-56.2%), from €16,765 to €7,340
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 | €189,456 | €204,625 | +€15,170 | +8.0% |
| Fixed assets | 21/28 | €41,672 | €35,498 | -€6,174 | -14.8% |
| Tangible fixed assets | 22/27 | €23,936 | €17,762 | -€6,174 | -25.8% |
| Land and buildings | 22 | €13,714 | €12,109 | -€1,605 | -11.7% |
| Plant, machinery and equipment | 23 | €2,975 | €2,568 | -€407 | -13.7% |
| Furniture and vehicles | 24 | €7,246 | €3,085 | -€4,161 | -57.4% |
| Financial fixed assets | 28 | €17,736 | €17,736 | = | 0.0% |
| Current assets | 29/58 | €147,783 | €169,127 | +€21,343 | +14.4% |
| Stocks and contracts in progress | 3 | €13,218 | €15,273 | +€2,055 | +15.5% |
| Stocks | 30/36 | €13,218 | €15,273 | +€2,055 | +15.5% |
| Amounts receivable within one year | 40/41 | €63,944 | €55,204 | -€8,740 | -13.7% |
| Trade receivables | 40 | €12,951 | €16,382 | +€3,431 | +26.5% |
| Other amounts receivable | 41 | €50,993 | €38,822 | -€12,171 | -23.9% |
| Cash at bank and in hand | 54/58 | €65,709 | €94,704 | +€28,995 | +44.1% |
| Deferred charges and accrued income | 490/1 | €4,913 | €3,946 | -€966 | -19.7% |
| Total equity and liabilities | 10/49 | €189,456 | €204,625 | +€15,170 | +8.0% |
| Equity | 10/15 | €7,625 | €22,841 | +€15,216 | +200% |
| Contributions | 10/11 | €22,623 | €22,623 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,998 | €218 | +€15,216 | |
| Amounts payable | 17/49 | €181,831 | €181,784 | -€47 | 0.0% |
| Amounts payable within one year | 42/48 | €181,731 | €181,684 | -€47 | 0.0% |
| Trade debts | 44 | €74,905 | €53,645 | -€21,260 | -28.4% |
| Suppliers | 440/4 | €74,905 | €53,645 | -€21,260 | -28.4% |
| Taxes, remuneration and social security | 45 | €67,644 | €66,123 | -€1,521 | -2.2% |
| Taxes | 450/3 | €28,730 | €32,775 | +€4,044 | +14.1% |
| Remuneration and social security | 454/9 | €38,914 | €33,349 | -€5,565 | -14.3% |
| Other amounts payable | 47/48 | €39,182 | €61,916 | +€22,734 | +58.0% |
| Accrued charges and deferred income | 492/3 | €100 | €100 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €506,716 | €459,246 | -€47,470 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,765 | €7,340 | -€9,425 | -56.2% |
| Other operating charges | 640/8 | €5,225 | €3,116 | -€2,109 | -40.4% |
| Non-recurring operating charges | 66A | - | €5,910 | +€5,910 | |
| Gross operating margin | 9900 | €518,052 | €581,081 | +€63,029 | +12.2% |
| Operating profit (loss) | 9901 | -€10,654 | €105,469 | +€116,123 | |
| Financial income | 75/76B | €2,685 | €611 | -€2,074 | -77.2% |
| Recurring financial income | 75 | €2,685 | €611 | -€2,074 | -77.2% |
| Financial charges | 65/66B | €6,242 | €1,388 | -€4,855 | -77.8% |
| Recurring financial charges | 65 | €6,242 | €1,388 | -€4,855 | -77.8% |
| Profit (loss) for the period before taxes | 9903 | -€14,211 | €104,692 | +€118,904 | |
| Income taxes | 67/77 | €1,229 | €29,476 | +€28,247 | +2,298% |
| Profit (loss) for the period | 9904 | -€15,440 | €75,216 | +€90,657 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,440 | €75,216 | +€90,657 |
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 30 October 2026 via checked.be.