PLACE B: 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.
PLACE B
Largest movements
- Cash -€150,471
down €150,471 (-39.0%), from €385,862 to €235,392
mainly Receivables after one year (-€120,000) and Tax, wage and social debts (-€54,972)
- Receivables after one year +€120,000
new in 2025: €120,000
- Stocks and contracts -€45,019
down €45,019 (-31.1%), from €144,767 to €99,748
- Receivables within one year +€19,835
up €19,835 (+165.3%), from €11,999 to €31,835
of which Other amounts receivable: +€24,802
- Tax, wage and social debts -€54,972
down €54,972 (-57.5%), from €95,657 to €40,685
of which Taxes: -€54,980
- Reserves +€53,500
up €53,500 (+42.7%), from €125,360 to €178,860
of which Distributable reserves: +€53,500
- Profit (loss) carried forward -€39,756
down €39,756 (-15.1%), from €263,280 to €223,524
- Trade debts -€15,661
down €15,661 (-93.1%), from €16,819 to €1,158
- Gross operating margin -€167,681
down €167,681 (-71.0%), from €236,247 to €68,566
- Taxes -€51,052
down €51,052 (-83.3%), from €61,282 to €10,229
- Depreciation -€3,243
down €3,243 (-64.4%), from €5,037 to €1,793
- Financial charges -€2,735
down €2,735 (-37.0%), from €7,388 to €4,653
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 | €559,965 | €503,077 | -€56,889 | -10.2% |
| Fixed assets | 21/28 | €9,346 | €7,553 | -€1,793 | -19.2% |
| Tangible fixed assets | 22/27 | €8,362 | €6,569 | -€1,793 | -21.4% |
| Plant, machinery and equipment | 23 | €6,066 | €5,292 | -€775 | -12.8% |
| Furniture and vehicles | 24 | €2,296 | €1,277 | -€1,019 | -44.4% |
| Financial fixed assets | 28 | €984 | €984 | = | 0.0% |
| Current assets | 29/58 | €550,619 | €495,524 | -€55,095 | -10.0% |
| Amounts receivable after more than one year | 29 | - | €120,000 | +€120,000 | |
| Other amounts receivable | 291 | - | €120,000 | +€120,000 | |
| Stocks and contracts in progress | 3 | €144,767 | €99,748 | -€45,019 | -31.1% |
| Stocks | 30/36 | €144,767 | €99,748 | -€45,019 | -31.1% |
| Amounts receivable within one year | 40/41 | €11,999 | €31,835 | +€19,835 | +165.3% |
| Trade receivables | 40 | €5,095 | €128 | -€4,967 | -97.5% |
| Other amounts receivable | 41 | €6,904 | €31,706 | +€24,802 | +359.2% |
| Cash at bank and in hand | 54/58 | €385,862 | €235,392 | -€150,471 | -39.0% |
| Deferred charges and accrued income | 490/1 | €7,990 | €8,549 | +€559 | +7.0% |
| Total equity and liabilities | 10/49 | €559,965 | €503,077 | -€56,889 | -10.2% |
| Equity | 10/15 | €407,240 | €420,984 | +€13,744 | +3.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €125,360 | €178,860 | +€53,500 | +42.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €123,500 | €177,000 | +€53,500 | +43.3% |
| Profit (loss) carried forward | 14 | €263,280 | €223,524 | -€39,756 | -15.1% |
| Amounts payable | 17/49 | €152,726 | €82,093 | -€70,633 | -46.2% |
| Amounts payable within one year | 42/48 | €152,476 | €81,843 | -€70,633 | -46.3% |
| Trade debts | 44 | €16,819 | €1,158 | -€15,661 | -93.1% |
| Suppliers | 440/4 | €16,819 | €1,158 | -€15,661 | -93.1% |
| Taxes, remuneration and social security | 45 | €95,657 | €40,685 | -€54,972 | -57.5% |
| Taxes | 450/3 | €94,246 | €39,266 | -€54,980 | -58.3% |
| Remuneration and social security | 454/9 | €1,411 | €1,418 | +€8 | +0.5% |
| Other amounts payable | 47/48 | €40,000 | €40,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,037 | €1,793 | -€3,243 | -64.4% |
| Other operating charges | 640/8 | €1,649 | €1,020 | -€629 | -38.2% |
| Gross operating margin | 9900 | €236,247 | €68,566 | -€167,681 | -71.0% |
| Operating profit (loss) | 9901 | €229,562 | €65,753 | -€163,809 | -71.4% |
| Financial income | 75/76B | €3,040 | €2,873 | -€167 | -5.5% |
| Recurring financial income | 75 | €3,040 | €2,873 | -€167 | -5.5% |
| Financial charges | 65/66B | €7,388 | €4,653 | -€2,735 | -37.0% |
| Recurring financial charges | 65 | €7,388 | €4,653 | -€2,735 | -37.0% |
| Profit (loss) for the period before taxes | 9903 | €225,214 | €63,974 | -€161,240 | -71.6% |
| Income taxes | 67/77 | €61,282 | €10,229 | -€51,052 | -83.3% |
| Profit (loss) for the period | 9904 | €163,932 | €53,744 | -€110,188 | -67.2% |
| Profit (loss) for the period to be appropriated | 9905 | €163,932 | €53,744 | -€110,188 | -67.2% |
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 5 October 2026 via checked.be.