PERSPECTIVE INTERNATIONAL: 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.
PERSPECTIVE INTERNATIONAL
Largest movements
- Stocks and contracts -€39,030
down €39,030 (-9.3%), from €417,540 to €378,510
- Receivables within one year -€23,683
down €23,683 (-5.5%), from €428,157 to €404,474
- Tangible fixed assets -€19,313
down €19,313 (-29.8%), from €64,872 to €45,559
- Debts after one year -€34,167
down €34,167 (-73.2%), from €46,667 to €12,500
of which Other amounts payable: -€30,000
- Tax, wage and social debts -€19,287
down €19,287 (-18.5%), from €104,069 to €84,782
of which Taxes: -€14,012
- Short-term financial debts -€16,834
down €16,834 (-11.4%), from €147,099 to €130,265
- Trade debts -€14,478
down €14,478 (-6.8%), from €213,558 to €199,080
- Profit (loss) carried forward +€11,251
up €11,251 (+4.2%), from €264,857 to €276,109
- Gross operating margin -€16,487
down €16,487 (-9.8%), from €167,392 to €150,905
- Staff costs -€11,539
down €11,539 (-12.0%), from €96,297 to €84,758
- Taxes -€3,556
down €3,556 (-26.7%), from €13,324 to €9,768
- Other operating charges +€3,270
up €3,270 (+336.1%), from €973 to €4,243
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 | €1,091,447 | €1,007,185 | -€84,262 | -7.7% |
| Fixed assets | 21/28 | €66,112 | €46,799 | -€19,313 | -29.2% |
| Tangible fixed assets | 22/27 | €64,872 | €45,559 | -€19,313 | -29.8% |
| Plant, machinery and equipment | 23 | €31,209 | €25,319 | -€5,891 | -18.9% |
| Furniture and vehicles | 24 | €24,524 | €15,003 | -€9,521 | -38.8% |
| Other tangible fixed assets | 26 | €9,139 | €5,238 | -€3,901 | -42.7% |
| Financial fixed assets | 28 | €1,239 | €1,239 | = | 0.0% |
| Current assets | 29/58 | €1,025,336 | €960,387 | -€64,949 | -6.3% |
| Stocks and contracts in progress | 3 | €417,540 | €378,510 | -€39,030 | -9.3% |
| Stocks | 30/36 | €417,540 | €378,510 | -€39,030 | -9.3% |
| Amounts receivable within one year | 40/41 | €428,157 | €404,474 | -€23,683 | -5.5% |
| Trade receivables | 40 | €428,157 | €404,474 | -€23,683 | -5.5% |
| Current investments | 50/53 | €176,967 | €176,967 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,352 | €164 | -€2,188 | -93.0% |
| Deferred charges and accrued income | 490/1 | €320 | €272 | -€48 | -14.9% |
| Total equity and liabilities | 10/49 | €1,091,447 | €1,007,185 | -€84,262 | -7.7% |
| Equity | 10/15 | €544,081 | €555,332 | +€11,251 | +2.1% |
| Contributions | 10/11 | €92,960 | €92,960 | = | 0.0% |
| Reserves | 13 | €186,263 | €186,263 | = | 0.0% |
| Non-distributable reserves | 130/1 | €186,263 | €186,263 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,296 | €9,296 | = | 0.0% |
| Own shares acquired | 1312 | €176,967 | €176,967 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264,857 | €276,109 | +€11,251 | +4.2% |
| Amounts payable | 17/49 | €547,367 | €451,853 | -€95,514 | -17.4% |
| Amounts payable after more than one year | 17 | €46,667 | €12,500 | -€34,167 | -73.2% |
| Financial debts | 170/4 | €16,667 | €12,500 | -€4,167 | -25.0% |
| Other amounts payable | 178/9 | €30,000 | - | -€30,000 | |
| Amounts payable within one year | 42/48 | €500,700 | €439,353 | -€61,347 | -12.3% |
| Current portion of amounts payable after more than one year | 42 | €7,798 | - | -€7,798 | |
| Financial debts | 43 | €147,099 | €130,265 | -€16,834 | -11.4% |
| Credit institutions | 430/8 | €147,099 | €130,265 | -€16,834 | -11.4% |
| Trade debts | 44 | €213,558 | €199,080 | -€14,478 | -6.8% |
| Suppliers | 440/4 | €213,558 | €199,080 | -€14,478 | -6.8% |
| Taxes, remuneration and social security | 45 | €104,069 | €84,782 | -€19,287 | -18.5% |
| Taxes | 450/3 | €84,230 | €70,218 | -€14,012 | -16.6% |
| Remuneration and social security | 454/9 | €19,839 | €14,564 | -€5,275 | -26.6% |
| Other amounts payable | 47/48 | €28,177 | €25,227 | -€2,950 | -10.5% |
| Remuneration, social security and pensions | 62 | €96,297 | €84,758 | -€11,539 | -12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,152 | €19,313 | +€161 | +0.8% |
| Other operating charges | 640/8 | €973 | €4,243 | +€3,270 | +336.1% |
| Gross operating margin | 9900 | €167,392 | €150,905 | -€16,487 | -9.8% |
| Operating profit (loss) | 9901 | €50,970 | €42,591 | -€8,379 | -16.4% |
| Financial income | 75/76B | €111 | €237 | +€126 | +113.5% |
| Recurring financial income | 75 | €111 | €237 | +€126 | +113.5% |
| Financial charges | 65/66B | €21,621 | €21,809 | +€188 | +0.9% |
| Recurring financial charges | 65 | €21,621 | €21,809 | +€188 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €29,461 | €21,020 | -€8,441 | -28.7% |
| Income taxes | 67/77 | €13,324 | €9,768 | -€3,556 | -26.7% |
| Profit (loss) for the period | 9904 | €16,137 | €11,251 | -€4,885 | -30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,137 | €11,251 | -€4,885 | -30.3% |
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 4 October 2026 via checked.be.