PLAN²: 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.
PLAN²
Largest movements
- Receivables within one year -€37,934
down €37,934 (-11.9%), from €319,535 to €281,601
of which Trade receivables: -€42,923
- Cash -€30,402
down €30,402 (-61.0%), from €49,828 to €19,425
mainly Other debts (-€115,660) and Investment in fixed assets (net) (-€91,586)
- Tangible fixed assets +€10,773
up €10,773 (+2.9%), from €368,013 to €378,785
of which Leasing and similar rights: +€40,156
- Deferred charges and accrued income +€9,122
up €9,122 (+67.9%), from €13,436 to €22,558
- Other debts -€115,660
down €115,660 (-92.5%), from €125,028 to €9,368
- Debts after one year +€56,175
up €56,175 (+32.6%), from €172,098 to €228,273
- Reserves -€44,228
down €44,228 (-12.5%), from €352,896 to €308,668
- Trade debts +€40,615
up €40,615 (+182.1%), from €22,301 to €62,916
- Tax, wage and social debts +€23,200
up €23,200 (+26.4%), from €87,914 to €111,114
of which Taxes: +€17,916
- Gross operating margin -€105,426
down €105,426 (-16.4%), from €644,454 to €539,027
- Staff costs +€40,809
up €40,809 (+10.6%), from €386,481 to €427,290
- Depreciation +€21,560
up €21,560 (+34.4%), from €62,752 to €84,312
- Taxes -€11,116
down €11,116 (-56.7%), from €19,597 to €8,481
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 | €900,739 | €848,799 | -€51,941 | -5.8% |
| Fixed assets | 21/28 | €517,940 | €525,214 | +€7,274 | +1.4% |
| Intangible fixed assets | 21 | €19,703 | €16,204 | -€3,499 | -17.8% |
| Tangible fixed assets | 22/27 | €368,013 | €378,785 | +€10,773 | +2.9% |
| Plant, machinery and equipment | 23 | €216,395 | €190,496 | -€25,899 | -12.0% |
| Furniture and vehicles | 24 | €31,440 | €23,585 | -€7,855 | -25.0% |
| Leasing and similar rights | 25 | €115,538 | €155,695 | +€40,156 | +34.8% |
| Other tangible fixed assets | 26 | €4,639 | €9,010 | +€4,370 | +94.2% |
| Financial fixed assets | 28 | €130,225 | €130,225 | = | 0.0% |
| Current assets | 29/58 | €382,799 | €323,585 | -€59,214 | -15.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €319,535 | €281,601 | -€37,934 | -11.9% |
| Trade receivables | 40 | €280,706 | €237,783 | -€42,923 | -15.3% |
| Other amounts receivable | 41 | €38,829 | €43,818 | +€4,989 | +12.8% |
| Cash at bank and in hand | 54/58 | €49,828 | €19,425 | -€30,402 | -61.0% |
| Deferred charges and accrued income | 490/1 | €13,436 | €22,558 | +€9,122 | +67.9% |
| Total equity and liabilities | 10/49 | €900,739 | €848,799 | -€51,941 | -5.8% |
| Equity | 10/15 | €395,100 | €352,885 | -€42,215 | -10.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €352,896 | €308,668 | -€44,228 | -12.5% |
| Distributable reserves | 133 | €352,896 | €308,668 | -€44,228 | -12.5% |
| Profit (loss) carried forward | 14 | €36,004 | €38,017 | +€2,014 | +5.6% |
| Amounts payable | 17/49 | €505,639 | €495,913 | -€9,726 | -1.9% |
| Amounts payable after more than one year | 17 | €172,098 | €228,273 | +€56,175 | +32.6% |
| Financial debts | 170/4 | €172,098 | €228,273 | +€56,175 | +32.6% |
| Amounts payable within one year | 42/48 | €319,849 | €267,448 | -€52,400 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €84,606 | €84,050 | -€555 | -0.7% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €22,301 | €62,916 | +€40,615 | +182.1% |
| Suppliers | 440/4 | €22,301 | €62,916 | +€40,615 | +182.1% |
| Taxes, remuneration and social security | 45 | €87,914 | €111,114 | +€23,200 | +26.4% |
| Taxes | 450/3 | €25,787 | €43,704 | +€17,916 | +69.5% |
| Remuneration and social security | 454/9 | €62,127 | €67,411 | +€5,284 | +8.5% |
| Other amounts payable | 47/48 | €125,028 | €9,368 | -€115,660 | -92.5% |
| Accrued charges and deferred income | 492/3 | €13,692 | €192 | -€13,500 | -98.6% |
| Non-recurring operating income | 76A | €0 | €14,992 | +€14,992 | |
| Remuneration, social security and pensions | 62 | €386,481 | €427,290 | +€40,809 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,752 | €84,312 | +€21,560 | +34.4% |
| Other operating charges | 640/8 | €2,746 | €4,172 | +€1,426 | +51.9% |
| Non-recurring operating charges | 66A | €0 | €3,957 | +€3,957 | |
| Gross operating margin | 9900 | €644,454 | €539,027 | -€105,426 | -16.4% |
| Operating profit (loss) | 9901 | €192,475 | €19,297 | -€173,178 | -90.0% |
| Financial income | 75/76B | €486 | €6,450 | +€5,965 | +1228.1% |
| Recurring financial income | 75 | €486 | €6,450 | +€5,965 | +1228.1% |
| Financial charges | 65/66B | €17,167 | €15,253 | -€1,914 | -11.1% |
| Recurring financial charges | 65 | €17,167 | €15,253 | -€1,914 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €175,794 | €10,494 | -€165,299 | -94.0% |
| Income taxes | 67/77 | €19,597 | €8,481 | -€11,116 | -56.7% |
| Profit (loss) for the period | 9904 | €156,197 | €2,014 | -€154,183 | -98.7% |
| Profit (loss) for the period to be appropriated | 9905 | €156,197 | €2,014 | -€154,183 | -98.7% |
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 9 October 2026 via checked.be.