Power & Control: 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.
Power & Control
Largest movements
- Tangible fixed assets +€337,168
up €337,168 (+23.3%), from €1.4m to €1.8m
of which Land and buildings: +€332,235
- Cash -€115,216
down €115,216 (-27.9%), from €412,580 to €297,364
mainly Investment in fixed assets (net) (-€369,518) and Debts after one year (-€34,000)
- Receivables within one year -€75,239
down €75,239 (-27.3%), from €276,029 to €200,791
of which Other amounts receivable: -€42,670
- Reserves +€150,667
up €150,667 (+21.3%), from €706,779 to €857,446
of which Distributable reserves: +€150,667
- Debts after one year -€34,000
down €34,000 (-7.9%), from €427,833 to €393,833
- Tax, wage and social debts +€24,582
up €24,582 (+275.0%), from €8,939 to €33,520
of which Taxes: +€18,955
- Gross operating margin +€141,550
up €141,550 (+92.5%), from €152,968 to €294,518
- Taxes +€36,926
up €36,926 (+124.4%), from €29,675 to €66,602
- Staff costs +€23,824
up €23,824 (+455.9%), from €5,226 to €29,050
- Financial charges +€3,604
up €3,604 (+36.0%), from €10,019 to €13,623
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 | €2,230,646 | €2,379,803 | +€149,157 | +6.7% |
| Fixed assets | 21/28 | €1,445,680 | €1,782,848 | +€337,168 | +23.3% |
| Tangible fixed assets | 22/27 | €1,445,680 | €1,782,848 | +€337,168 | +23.3% |
| Land and buildings | 22 | €1,422,340 | €1,754,575 | +€332,235 | +23.4% |
| Plant, machinery and equipment | 23 | €19,913 | €12,364 | -€7,550 | -37.9% |
| Furniture and vehicles | 24 | €3,427 | €15,909 | +€12,482 | +364.2% |
| Current assets | 29/58 | €784,966 | €596,955 | -€188,010 | -24.0% |
| Stocks and contracts in progress | 3 | €93,200 | €92,805 | -€395 | -0.4% |
| Stocks | 30/36 | €93,200 | €92,805 | -€395 | -0.4% |
| Amounts receivable within one year | 40/41 | €276,029 | €200,791 | -€75,239 | -27.3% |
| Trade receivables | 40 | €228,724 | €196,155 | -€32,569 | -14.2% |
| Other amounts receivable | 41 | €47,306 | €4,636 | -€42,670 | -90.2% |
| Cash at bank and in hand | 54/58 | €412,580 | €297,364 | -€115,216 | -27.9% |
| Deferred charges and accrued income | 490/1 | €3,156 | €5,995 | +€2,839 | +90.0% |
| Total equity and liabilities | 10/49 | €2,230,646 | €2,379,803 | +€149,157 | +6.7% |
| Equity | 10/15 | €1,612,925 | €1,763,592 | +€150,667 | +9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €706,779 | €857,446 | +€150,667 | +21.3% |
| Non-distributable reserves | 130/1 | €2,120 | €2,120 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,120 | €2,120 | = | 0.0% |
| Distributable reserves | 133 | €704,660 | €855,326 | +€150,667 | +21.4% |
| Profit (loss) carried forward | 14 | €887,546 | €887,546 | = | 0.0% |
| Amounts payable | 17/49 | €617,720 | €616,211 | -€1,509 | -0.2% |
| Amounts payable after more than one year | 17 | €427,833 | €393,833 | -€34,000 | -7.9% |
| Financial debts | 170/4 | €427,833 | €393,833 | -€34,000 | -7.9% |
| Amounts payable within one year | 42/48 | €185,900 | €219,631 | +€33,732 | +18.1% |
| Current portion of amounts payable after more than one year | 42 | €34,000 | €37,903 | +€3,903 | +11.5% |
| Trade debts | 44 | €137,124 | €138,295 | +€1,172 | +0.9% |
| Suppliers | 440/4 | €137,124 | €138,295 | +€1,172 | +0.9% |
| Taxes, remuneration and social security | 45 | €8,939 | €33,520 | +€24,582 | +275.0% |
| Taxes | 450/3 | €8,939 | €27,894 | +€18,955 | +212.1% |
| Remuneration and social security | 454/9 | - | €5,626 | +€5,626 | |
| Other amounts payable | 47/48 | €5,837 | €9,913 | +€4,076 | +69.8% |
| Accrued charges and deferred income | 492/3 | €3,987 | €2,746 | -€1,241 | -31.1% |
| Remuneration, social security and pensions | 62 | €5,226 | €29,050 | +€23,824 | +455.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,832 | €32,350 | +€2,519 | +8.4% |
| Other operating charges | 640/8 | €4,627 | €4,149 | -€478 | -10.3% |
| Gross operating margin | 9900 | €152,968 | €294,518 | +€141,550 | +92.5% |
| Operating profit (loss) | 9901 | €113,283 | €228,968 | +€115,685 | +102.1% |
| Financial income | 75/76B | €2,071 | €1,923 | -€148 | -7.2% |
| Recurring financial income | 75 | €2,071 | €1,923 | -€148 | -7.2% |
| Financial charges | 65/66B | €10,019 | €13,623 | +€3,604 | +36.0% |
| Recurring financial charges | 65 | €10,019 | €13,623 | +€3,604 | +36.0% |
| Profit (loss) for the period before taxes | 9903 | €105,336 | €217,268 | +€111,933 | +106.3% |
| Income taxes | 67/77 | €29,675 | €66,602 | +€36,926 | +124.4% |
| Profit (loss) for the period | 9904 | €75,660 | €150,667 | +€75,006 | +99.1% |
| Profit (loss) for the period to be appropriated | 9905 | €75,660 | €150,667 | +€75,006 | +99.1% |
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 11 October 2026 via checked.be.