PLAN 19: what changed
PLAN 19
Largest movements
- Receivables within one year -€37,227
down €37,227 (-58.3%), from €63,835 to €26,608
of which Trade receivables: -€57,848
- Cash +€36,677
up €36,677 (+34.0%), from €107,788 to €144,465
mainly Receivables within one year (+€37,227) and Net result for the year (+€32,900)
- Tangible fixed assets +€11,701
up €11,701 (+23.3%), from €50,131 to €61,833
of which Furniture and vehicles: +€7,494
- Reserves +€8,900
up €8,900 (+5.8%), from €154,173 to €163,073
of which Distributable reserves: +€8,900
- Debts after one year +€8,388
up €8,388 (+38.4%), from €21,846 to €30,234
- Tax, wage and social debts -€6,338
down €6,338 (-61.1%), from €10,378 to €4,040
- Current portion of long-term debt +€3,576
up €3,576 (+33.8%), from €10,582 to €14,159
- Gross operating margin -€35,997
down €35,997 (-36.2%), from €99,532 to €63,535
- Taxes -€12,732
down €12,732 (-60.8%), from €20,938 to €8,205
- Depreciation +€3,895
up €3,895 (+25.2%), from €15,437 to €19,332
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €228,163 | €241,163 | +€13,000 | +5.7% |
| Fixed assets | 21/28 | €50,131 | €61,833 | +€11,701 | +23.3% |
| Tangible fixed assets | 22/27 | €50,131 | €61,833 | +€11,701 | +23.3% |
| Plant, machinery and equipment | 23 | €3,799 | €8,006 | +€4,208 | +111% |
| Furniture and vehicles | 24 | €46,332 | €53,826 | +€7,494 | +16.2% |
| Current assets | 29/58 | €178,032 | €179,330 | +€1,298 | +0.7% |
| Stocks and contracts in progress | 3 | €2,991 | €3,683 | +€691 | +23.1% |
| Stocks | 30/36 | €2,991 | €3,683 | +€691 | +23.1% |
| Amounts receivable within one year | 40/41 | €63,835 | €26,608 | -€37,227 | -58.3% |
| Trade receivables | 40 | €62,615 | €4,766 | -€57,848 | -92.4% |
| Other amounts receivable | 41 | €1,220 | €21,842 | +€20,621 | +1,690% |
| Cash at bank and in hand | 54/58 | €107,788 | €144,465 | +€36,677 | +34.0% |
| Deferred charges and accrued income | 490/1 | €3,418 | €4,575 | +€1,157 | +33.8% |
| Total equity and liabilities | 10/49 | €228,163 | €241,163 | +€13,000 | +5.7% |
| Equity | 10/15 | €172,773 | €181,673 | +€8,900 | +5.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €154,173 | €163,073 | +€8,900 | +5.8% |
| Tax-exempt reserves | 132 | €9,854 | €9,854 | = | 0.0% |
| Distributable reserves | 133 | €144,319 | €153,219 | +€8,900 | +6.2% |
| Amounts payable | 17/49 | €55,390 | €59,490 | +€4,099 | +7.4% |
| Amounts payable after more than one year | 17 | €21,846 | €30,234 | +€8,388 | +38.4% |
| Financial debts | 170/4 | €21,846 | €30,234 | +€8,388 | +38.4% |
| Amounts payable within one year | 42/48 | €33,544 | €29,256 | -€4,288 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €10,582 | €14,159 | +€3,576 | +33.8% |
| Trade debts | 44 | €3,024 | €3,342 | +€317 | +10.5% |
| Suppliers | 440/4 | €3,024 | €3,342 | +€317 | +10.5% |
| Taxes, remuneration and social security | 45 | €10,378 | €4,040 | -€6,338 | -61.1% |
| Taxes | 450/3 | €10,378 | €4,040 | -€6,338 | -61.1% |
| Other amounts payable | 47/48 | €9,559 | €7,715 | -€1,844 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,437 | €19,332 | +€3,895 | +25.2% |
| Other operating charges | 640/8 | €1,008 | €506 | -€502 | -49.8% |
| Non-recurring operating charges | 66A | - | €860 | +€860 | |
| Gross operating margin | 9900 | €99,532 | €63,535 | -€35,997 | -36.2% |
| Operating profit (loss) | 9901 | €83,088 | €42,837 | -€40,250 | -48.4% |
| Financial income | 75/76B | €423 | €719 | +€296 | +69.9% |
| Recurring financial income | 75 | €423 | €719 | +€296 | +69.9% |
| Financial charges | 65/66B | €1,742 | €2,451 | +€708 | +40.7% |
| Recurring financial charges | 65 | €1,742 | €2,451 | +€708 | +40.7% |
| Profit (loss) for the period before taxes | 9903 | €81,769 | €41,105 | -€40,663 | -49.7% |
| Income taxes | 67/77 | €20,938 | €8,205 | -€12,732 | -60.8% |
| Profit (loss) for the period | 9904 | €60,831 | €32,900 | -€27,931 | -45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €60,831 | €32,900 | -€27,931 | -45.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.