PLUS/PLUS: 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.
PLUS/PLUS
Largest movements
- Receivables within one year +€797,078
up €797,078 (+85.9%), from €927,755 to €1.7m
of which Other amounts receivable: +€822,078
- Stocks and contracts +€373,137
up €373,137 (+11.8%), from €3.2m to €3.5m
- Short-term financial debts +€1.1m
up €1.1m (+70.3%), from €1.5m to €2.6m
- Other debts +€285,638
up €285,638 (+10.9%), from €2.6m to €2.9m
- Profit (loss) carried forward -€216,459
down €216,459 (-109.5%), from -€197,654 to -€414,114
- Financial charges +€93,442
up €93,442 (+93.6%), from €99,875 to €193,316
- Gross operating margin -€75,851
down €75,851, from €68,863 to -€6,988
- Other operating charges -€5,349
down €5,349 (-61.7%), from €8,675 to €3,327
- Financial income -€1,048
down €1,048 (-6.9%), from €15,094 to €14,046
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 | €4,342,908 | €5,460,511 | +€1.1m | +25.7% |
| Fixed assets | 21/28 | €193,400 | €172,108 | -€21,292 | -11.0% |
| Tangible fixed assets | 22/27 | €193,400 | €172,108 | -€21,292 | -11.0% |
| Land and buildings | 22 | €116,268 | €109,319 | -€6,949 | -6.0% |
| Furniture and vehicles | 24 | €1,187 | €585 | -€602 | -50.7% |
| Other tangible fixed assets | 26 | €75,945 | €62,204 | -€13,742 | -18.1% |
| Current assets | 29/58 | €4,149,507 | €5,288,403 | +€1.1m | +27.4% |
| Stocks and contracts in progress | 3 | €3,152,192 | €3,525,329 | +€373,137 | +11.8% |
| Stocks | 30/36 | €3,152,192 | €3,525,329 | +€373,137 | +11.8% |
| Amounts receivable within one year | 40/41 | €927,755 | €1,724,833 | +€797,078 | +85.9% |
| Trade receivables | 40 | €25,000 | €0 | -€25,000 | -100.0% |
| Other amounts receivable | 41 | €902,755 | €1,724,833 | +€822,078 | +91.1% |
| Cash at bank and in hand | 54/58 | €66,431 | €37,615 | -€28,816 | -43.4% |
| Deferred charges and accrued income | 490/1 | €3,129 | €626 | -€2,503 | -80.0% |
| Total equity and liabilities | 10/49 | €4,342,908 | €5,460,511 | +€1.1m | +25.7% |
| Equity | 10/15 | -€113,005 | -€329,464 | -€216,459 | -191.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €66,049 | €66,049 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €64,189 | €64,189 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€197,654 | -€414,114 | -€216,459 | -109.5% |
| Amounts payable | 17/49 | €4,455,913 | €5,789,975 | +€1.3m | +29.9% |
| Amounts payable within one year | 42/48 | €4,213,956 | €5,530,489 | +€1.3m | +31.2% |
| Financial debts | 43 | €1,518,730 | €2,587,000 | +€1.1m | +70.3% |
| Credit institutions | 430/8 | €1,518,730 | €2,587,000 | +€1.1m | +70.3% |
| Trade debts | 44 | €75,591 | €40,038 | -€35,553 | -47.0% |
| Suppliers | 440/4 | €75,591 | €40,038 | -€35,553 | -47.0% |
| Taxes, remuneration and social security | 45 | €1,945 | €123 | -€1,822 | -93.7% |
| Taxes | 450/3 | €1,945 | €123 | -€1,822 | -93.7% |
| Other amounts payable | 47/48 | €2,617,690 | €2,903,328 | +€285,638 | +10.9% |
| Accrued charges and deferred income | 492/3 | €241,957 | €259,487 | +€17,530 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,257 | €26,874 | -€383 | -1.4% |
| Other operating charges | 640/8 | €8,675 | €3,327 | -€5,349 | -61.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €68,863 | -€6,988 | -€75,851 | |
| Operating profit (loss) | 9901 | €32,931 | -€37,189 | -€70,119 | |
| Financial income | 75/76B | €15,094 | €14,046 | -€1,048 | -6.9% |
| Recurring financial income | 75 | €15,094 | €14,046 | -€1,048 | -6.9% |
| Financial charges | 65/66B | €99,875 | €193,316 | +€93,442 | +93.6% |
| Recurring financial charges | 65 | €99,875 | €193,316 | +€93,442 | +93.6% |
| Profit (loss) for the period before taxes | 9903 | -€51,850 | -€216,459 | -€164,609 | -317.5% |
| Profit (loss) for the period | 9904 | -€51,850 | -€216,459 | -€164,609 | -317.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,850 | -€216,459 | -€164,609 | -317.5% |
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.