PATRICK ONCKELINX: 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.
PATRICK ONCKELINX
Largest movements
- Receivables within one year +€65,201
up €65,201 (+37.4%), from €174,558 to €239,759
of which Other amounts receivable: +€32,777
- Cash +€21,546
up €21,546 (+5.9%), from €367,599 to €389,145
mainly Trade debts (+€120,444) and Depreciation (+€11,707)
- Trade debts +€120,444
up €120,444 (+86.9%), from €138,641 to €259,085
- Debts after one year -€26,277
down €26,277 (-45.7%), from €57,563 to €31,285
- Tax, wage and social debts -€23,112
down €23,112 (-40.2%), from €57,472 to €34,360
of which Taxes: -€22,112
- Gross operating margin -€212,104
down €212,104 (-90.5%), from €234,364 to €22,260
- Taxes -€46,738
down €46,738 (-85.8%), from €54,504 to €7,767
- Write-downs -€42,902
no longer reported in 2025 (was €42,902)
- Financial income +€6,607
up €6,607 (+81.0%), from €8,159 to €14,766
of which Financial income: +€11,607
- Financial charges -€5,454
down €5,454 (-67.9%), from €8,030 to €2,576
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.
Cash bridge derived
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 | €988,281 | €1,067,322 | +€79,040 | +8.0% |
| Fixed assets | 21/28 | €138,942 | €133,038 | -€5,904 | -4.2% |
| Tangible fixed assets | 22/27 | €138,942 | €133,038 | -€5,904 | -4.2% |
| Land and buildings | 22 | €107,642 | €109,745 | +€2,103 | +2.0% |
| Plant, machinery and equipment | 23 | €605 | €298 | -€307 | -50.7% |
| Furniture and vehicles | 24 | €30,695 | €22,995 | -€7,700 | -25.1% |
| Current assets | 29/58 | €849,340 | €934,284 | +€84,944 | +10.0% |
| Amounts receivable within one year | 40/41 | €174,558 | €239,759 | +€65,201 | +37.4% |
| Trade receivables | 40 | €174,447 | €206,872 | +€32,425 | +18.6% |
| Other amounts receivable | 41 | €111 | €32,887 | +€32,777 | +29648.6% |
| Current investments | 50/53 | €300,000 | €300,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €367,599 | €389,145 | +€21,546 | +5.9% |
| Deferred charges and accrued income | 490/1 | €7,183 | €5,379 | -€1,803 | -25.1% |
| Total equity and liabilities | 10/49 | €988,281 | €1,067,322 | +€79,040 | +8.0% |
| Equity | 10/15 | €556,837 | €564,841 | +€8,004 | +1.4% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €529,804 | €537,808 | +€8,004 | +1.5% |
| Distributable reserves | 133 | €529,804 | €537,808 | +€8,004 | +1.5% |
| Profit (loss) carried forward | 14 | €2,033 | €2,033 | = | 0.0% |
| Amounts payable | 17/49 | €431,444 | €502,481 | +€71,036 | +16.5% |
| Amounts payable after more than one year | 17 | €57,563 | €31,285 | -€26,277 | -45.7% |
| Financial debts | 170/4 | €57,563 | €31,285 | -€26,277 | -45.7% |
| Amounts payable within one year | 42/48 | €371,075 | €469,917 | +€98,843 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €25,528 | €32,605 | +€7,077 | +27.7% |
| Financial debts | 43 | €5,115 | - | -€5,115 | |
| Credit institutions | 430/8 | €5,115 | - | -€5,115 | |
| Trade debts | 44 | €138,641 | €259,085 | +€120,444 | +86.9% |
| Suppliers | 440/4 | €138,641 | €259,085 | +€120,444 | +86.9% |
| Advances received on contracts in progress | 46 | €1,973 | €1,973 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €57,472 | €34,360 | -€23,112 | -40.2% |
| Taxes | 450/3 | €56,472 | €34,360 | -€22,112 | -39.2% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €142,346 | €141,893 | -€452 | -0.3% |
| Accrued charges and deferred income | 492/3 | €2,807 | €1,278 | -€1,529 | -54.5% |
| Non-recurring operating income | 76A | - | €5,803 | +€5,803 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,558 | €11,707 | -€851 | -6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €42,902 | - | -€42,902 | |
| Other operating charges | 640/8 | €7,686 | €6,973 | -€714 | -9.3% |
| Gross operating margin | 9900 | €234,364 | €22,260 | -€212,104 | -90.5% |
| Operating profit (loss) | 9901 | €171,218 | €3,581 | -€167,637 | -97.9% |
| Financial income | 75/76B | €8,159 | €14,766 | +€6,607 | +81.0% |
| Recurring financial income | 75 | €3,159 | €14,766 | +€11,607 | +367.4% |
| Non-recurring financial income | 76B | €5,000 | - | -€5,000 | |
| Financial charges | 65/66B | €8,030 | €2,576 | -€5,454 | -67.9% |
| Recurring financial charges | 65 | €8,030 | €2,576 | -€5,454 | -67.9% |
| Profit (loss) for the period before taxes | 9903 | €171,346 | €15,771 | -€155,576 | -90.8% |
| Income taxes | 67/77 | €54,504 | €7,767 | -€46,738 | -85.8% |
| Profit (loss) for the period | 9904 | €116,842 | €8,004 | -€108,838 | -93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €116,842 | €8,004 | -€108,838 | -93.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.