Paradoxbrussels: 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.
Paradoxbrussels
Largest movements
- Receivables within one year +€132,704
up €132,704 (+50.6%), from €262,374 to €395,078
of which Trade receivables: +€140,641
- Stocks and contracts -€49,739
down €49,739 (-52.0%), from €95,650 to €45,911
- Cash +€6,414
up €6,414 (+64.4%), from €9,956 to €16,370
mainly Trade debts (+€189,241) and Other debts (+€82,301)
- Trade debts +€189,241
up €189,241 (+65.3%), from €289,692 to €478,933
- Profit (loss) carried forward -€189,144
down €189,144, from €55,373 to -€133,770
- Other debts +€82,301
up €82,301 (+3,282%), from €2,508 to €84,809
- Tax, wage and social debts +€15,283
up €15,283 (+177%), from €8,649 to €23,932
of which Taxes: +€15,100
- Current portion of long-term debt -€7,089
down €7,089 (-53.3%), from €13,305 to €6,216
- Gross operating margin -€231,876
down €231,876, from €90,771 to -€141,106
- Staff costs -€11,199
down €11,199 (-22.9%), from €48,928 to €37,729
- Taxes -€7,257
no longer reported in 2025 (was €7,257)
- Financial charges +€1,628
up €1,628 (+49.6%), from €3,280 to €4,908
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 | €388,613 | €472,990 | +€84,378 | +21.7% |
| Fixed assets | 21/28 | €20,632 | €15,630 | -€5,002 | -24.2% |
| Intangible fixed assets | 21 | €9,567 | €6,167 | -€3,400 | -35.5% |
| Tangible fixed assets | 22/27 | €11,066 | €9,464 | -€1,602 | -14.5% |
| Furniture and vehicles | 24 | €289 | - | -€289 | |
| Other tangible fixed assets | 26 | €10,777 | €9,464 | -€1,313 | -12.2% |
| Current assets | 29/58 | €367,980 | €457,360 | +€89,380 | +24.3% |
| Stocks and contracts in progress | 3 | €95,650 | €45,911 | -€49,739 | -52.0% |
| Stocks | 30/36 | €95,650 | €45,911 | -€49,739 | -52.0% |
| Amounts receivable within one year | 40/41 | €262,374 | €395,078 | +€132,704 | +50.6% |
| Trade receivables | 40 | €252,641 | €393,282 | +€140,641 | +55.7% |
| Other amounts receivable | 41 | €9,733 | €1,796 | -€7,937 | -81.5% |
| Cash at bank and in hand | 54/58 | €9,956 | €16,370 | +€6,414 | +64.4% |
| Total equity and liabilities | 10/49 | €388,613 | €472,990 | +€84,378 | +21.7% |
| Equity | 10/15 | €59,373 | -€129,770 | -€189,144 | |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,373 | -€133,770 | -€189,144 | |
| Amounts payable | 17/49 | €329,239 | €602,761 | +€273,521 | +83.1% |
| Amounts payable after more than one year | 17 | €15,086 | €8,870 | -€6,216 | -41.2% |
| Financial debts | 170/4 | €15,086 | €8,870 | -€6,216 | -41.2% |
| Amounts payable within one year | 42/48 | €314,153 | €593,890 | +€279,737 | +89.0% |
| Current portion of amounts payable after more than one year | 42 | €13,305 | €6,216 | -€7,089 | -53.3% |
| Trade debts | 44 | €289,692 | €478,933 | +€189,241 | +65.3% |
| Suppliers | 440/4 | €289,692 | €478,933 | +€189,241 | +65.3% |
| Taxes, remuneration and social security | 45 | €8,649 | €23,932 | +€15,283 | +177% |
| Taxes | 450/3 | €7,257 | €22,358 | +€15,100 | +208% |
| Remuneration and social security | 454/9 | €1,391 | €1,574 | +€183 | +13.1% |
| Other amounts payable | 47/48 | €2,508 | €84,809 | +€82,301 | +3,282% |
| Remuneration, social security and pensions | 62 | €48,928 | €37,729 | -€11,199 | -22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,030 | €5,002 | -€28 | -0.5% |
| Other operating charges | 640/8 | €1,005 | €400 | -€605 | -60.2% |
| Gross operating margin | 9900 | €90,771 | -€141,106 | -€231,876 | |
| Operating profit (loss) | 9901 | €35,808 | -€184,236 | -€220,044 | |
| Financial charges | 65/66B | €3,280 | €4,908 | +€1,628 | +49.6% |
| Recurring financial charges | 65 | €3,280 | €4,908 | +€1,628 | +49.6% |
| Profit (loss) for the period before taxes | 9903 | €32,528 | -€189,144 | -€221,672 | |
| Income taxes | 67/77 | €7,257 | - | -€7,257 | |
| Profit (loss) for the period | 9904 | €25,271 | -€189,144 | -€214,414 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,271 | -€189,144 | -€214,414 |
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 24 October 2026 via checked.be.