Pillar: 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.
Pillar
Largest movements
- Receivables within one year -€113,777
down €113,777 (-59.9%), from €189,826 to €76,050
of which Other amounts receivable: -€67,678
- Receivables after one year +€110,744
new in 2025: €110,744
- Tangible fixed assets -€12,628
down €12,628 (-30.6%), from €41,262 to €28,634
of which Leasing and similar rights: -€9,378
- Cash -€3,102
down €3,102 (-99.7%), from €3,112 to €10
mainly Receivables after one year (-€110,744) and Advances received (-€26,976)
- Profit (loss) carried forward +€39,878
up €39,878 (+108.0%), from €36,916 to €76,794
- Advances received -€26,976
down €26,976 (-69.6%), from €38,739 to €11,763
- Accrued charges and deferred income -€22,789
down €22,789 (-94.3%), from €24,154 to €1,365
- Tax, wage and social debts +€7,669
up €7,669 (+43.0%), from €17,835 to €25,504
- Trade debts -€6,584
down €6,584 (-10.7%), from €61,741 to €55,158
of which Bills of exchange payable: -€6,712
- Gross operating margin +€18,271
up €18,271 (+32.8%), from €55,683 to €73,953
- Taxes -€5,506
down €5,506 (-31.0%), from €17,739 to €12,233
- Financial charges -€3,141
down €3,141 (-49.0%), from €6,405 to €3,265
- Other operating charges -€2,041
down €2,041 (-16.6%), from €12,262 to €10,221
- Financial income +€1,419
up €1,419 (+40.7%), from €3,484 to €4,903
of which Financial income: +€1,436
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 | €235,803 | €216,378 | -€19,425 | -8.2% |
| Fixed assets | 21/28 | €41,262 | €28,634 | -€12,628 | -30.6% |
| Tangible fixed assets | 22/27 | €41,262 | €28,634 | -€12,628 | -30.6% |
| Plant, machinery and equipment | 23 | €266 | €429 | +€164 | +61.6% |
| Furniture and vehicles | 24 | €5,385 | €1,972 | -€3,413 | -63.4% |
| Leasing and similar rights | 25 | €35,611 | €26,233 | -€9,378 | -26.3% |
| Current assets | 29/58 | €194,541 | €187,744 | -€6,797 | -3.5% |
| Amounts receivable after more than one year | 29 | - | €110,744 | +€110,744 | |
| Other amounts receivable | 291 | - | €110,744 | +€110,744 | |
| Amounts receivable within one year | 40/41 | €189,826 | €76,050 | -€113,777 | -59.9% |
| Trade receivables | 40 | €112,319 | €66,220 | -€46,099 | -41.0% |
| Other amounts receivable | 41 | €77,507 | €9,829 | -€67,678 | -87.3% |
| Cash at bank and in hand | 54/58 | €3,112 | €10 | -€3,102 | -99.7% |
| Deferred charges and accrued income | 490/1 | €1,602 | €939 | -€662 | -41.4% |
| Total equity and liabilities | 10/49 | €235,803 | €216,378 | -€19,425 | -8.2% |
| Equity | 10/15 | €53,386 | €93,264 | +€39,878 | +74.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €13,970 | €13,970 | = | 0.0% |
| Distributable reserves | 133 | €13,970 | €13,970 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,916 | €76,794 | +€39,878 | +108.0% |
| Amounts payable | 17/49 | €182,417 | €123,114 | -€59,303 | -32.5% |
| Amounts payable after more than one year | 17 | €29,324 | €24,186 | -€5,138 | -17.5% |
| Financial debts | 170/4 | €29,324 | €24,186 | -€5,138 | -17.5% |
| Amounts payable within one year | 42/48 | €128,939 | €97,563 | -€31,376 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | €10,623 | €5,138 | -€5,486 | -51.6% |
| Trade debts | 44 | €61,741 | €55,158 | -€6,584 | -10.7% |
| Suppliers | 440/4 | €55,030 | €55,158 | +€128 | +0.2% |
| Bills of exchange payable | 441 | €6,712 | - | -€6,712 | |
| Advances received on contracts in progress | 46 | €38,739 | €11,763 | -€26,976 | -69.6% |
| Taxes, remuneration and social security | 45 | €17,835 | €25,504 | +€7,669 | +43.0% |
| Taxes | 450/3 | €17,835 | €25,504 | +€7,669 | +43.0% |
| Accrued charges and deferred income | 492/3 | €24,154 | €1,365 | -€22,789 | -94.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,448 | €13,260 | -€188 | -1.4% |
| Other operating charges | 640/8 | €12,262 | €10,221 | -€2,041 | -16.6% |
| Gross operating margin | 9900 | €55,683 | €73,953 | +€18,271 | +32.8% |
| Operating profit (loss) | 9901 | €29,973 | €50,473 | +€20,500 | +68.4% |
| Financial income | 75/76B | €3,484 | €4,903 | +€1,419 | +40.7% |
| Recurring financial income | 75 | €3,467 | €4,903 | +€1,436 | +41.4% |
| Non-recurring financial income | 76B | €17 | - | -€17 | |
| Financial charges | 65/66B | €6,405 | €3,265 | -€3,141 | -49.0% |
| Recurring financial charges | 65 | €6,405 | €3,265 | -€3,141 | -49.0% |
| Profit (loss) for the period before taxes | 9903 | €27,052 | €52,111 | +€25,059 | +92.6% |
| Income taxes | 67/77 | €17,739 | €12,233 | -€5,506 | -31.0% |
| Profit (loss) for the period | 9904 | €9,313 | €39,878 | +€30,565 | +328.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,313 | €39,878 | +€30,565 | +328.2% |
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 12 October 2026 via checked.be.