PREMIUM VO: 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.
PREMIUM VO
Largest movements
- Stocks and contracts -€1.0m
down €1.0m (-72.4%), from €1.4m to €399,415
of which Stocks: -€960,356
- Receivables within one year -€194,299
down €194,299 (-26.3%), from €738,895 to €544,597
of which Trade receivables: -€720,954
- Deferred charges and accrued income +€31,702
new in 2025: €31,702
- Tangible fixed assets -€26,007
down €26,007 (-94.6%), from €27,498 to €1,491
of which Furniture and vehicles: -€26,007
- Other debts -€1.2m
down €1.2m (-100%), from €1.2m to €0
- Accrued charges and deferred income -€160,000
down €160,000 (-100%), from €160,000 to €0
- Tax, wage and social debts +€151,511
up €151,511 (+42.8%), from €354,153 to €505,664
of which Taxes: +€110,783
- Profit (loss) carried forward +€150,046
up €150,046 (+19.0%), from -€788,987 to -€638,941
- Trade debts -€116,457
down €116,457 (-50.9%), from €228,738 to €112,281
- Staff costs -€152,931
down €152,931 (-15.9%), from €964,468 to €811,537
- Gross operating margin -€72,377
down €72,377 (-6.8%), from €1.1m to €991,988
- Write-downs -€71,063
down €71,063 (-510%), from -€13,937 to -€85,000
- Depreciation -€27,445
down €27,445 (-86.5%), from €31,728 to €4,283
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.
Derived cash bridge
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 | €2,224,645 | €997,604 | -€1.2m | -55.2% |
| Fixed assets | 21/28 | €36,765 | €21,890 | -€14,875 | -40.5% |
| Intangible fixed assets | 21 | €9,267 | €20,399 | +€11,132 | +120% |
| Tangible fixed assets | 22/27 | €27,498 | €1,491 | -€26,007 | -94.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €27,498 | €1,491 | -€26,007 | -94.6% |
| Other tangible fixed assets | 26 | €0 | €0 | = | 0.0% |
| Current assets | 29/58 | €2,187,880 | €975,713 | -€1.2m | -55.4% |
| Stocks and contracts in progress | 3 | €1,448,759 | €399,415 | -€1.0m | -72.4% |
| Stocks | 30/36 | €1,359,772 | €399,415 | -€960,356 | -70.6% |
| Contracts in progress | 37 | €88,987 | €0 | -€88,987 | -100% |
| Amounts receivable within one year | 40/41 | €738,895 | €544,597 | -€194,299 | -26.3% |
| Trade receivables | 40 | €738,895 | €17,942 | -€720,954 | -97.6% |
| Other amounts receivable | 41 | - | €526,655 | +€526,655 | |
| Cash at bank and in hand | 54/58 | €225 | €0 | -€225 | -100% |
| Deferred charges and accrued income | 490/1 | - | €31,702 | +€31,702 | |
| Total equity and liabilities | 10/49 | €2,224,645 | €997,604 | -€1.2m | -55.2% |
| Equity | 10/15 | €229,614 | €379,659 | +€150,046 | +65.3% |
| Contributions | 10/11 | €1,018,600 | €1,018,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€788,987 | -€638,941 | +€150,046 | +19.0% |
| Provisions and deferred taxes | 16 | €10,600 | €0 | -€10,600 | -100% |
| Provisions for liabilities and charges | 160/5 | €10,600 | €0 | -€10,600 | -100% |
| Other liabilities and charges | 164/5 | €10,600 | €0 | -€10,600 | -100% |
| Amounts payable | 17/49 | €1,984,431 | €617,944 | -€1.4m | -68.9% |
| Amounts payable within one year | 42/48 | €1,824,431 | €617,944 | -€1.2m | -66.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €228,738 | €112,281 | -€116,457 | -50.9% |
| Suppliers | 440/4 | €228,738 | €112,281 | -€116,457 | -50.9% |
| Advances received on contracts in progress | 46 | €18,750 | €0 | -€18,750 | -100% |
| Taxes, remuneration and social security | 45 | €354,153 | €505,664 | +€151,511 | +42.8% |
| Taxes | 450/3 | €229,561 | €340,344 | +€110,783 | +48.3% |
| Remuneration and social security | 454/9 | €124,592 | €165,320 | +€40,728 | +32.7% |
| Other amounts payable | 47/48 | €1,222,791 | €0 | -€1.2m | -100% |
| Accrued charges and deferred income | 492/3 | €160,000 | €0 | -€160,000 | -100% |
| Non-recurring operating income | 76A | €1,616 | €723 | -€894 | -55.3% |
| Remuneration, social security and pensions | 62 | €964,468 | €811,537 | -€152,931 | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,728 | €4,283 | -€27,445 | -86.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€13,937 | -€85,000 | -€71,063 | -510% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,086 | -€10,600 | -€7,514 | -244% |
| Other operating charges | 640/8 | €15,615 | €21,540 | +€5,925 | +37.9% |
| Gross operating margin | 9900 | €1,064,365 | €991,988 | -€72,377 | -6.8% |
| Operating profit (loss) | 9901 | €69,577 | €250,229 | +€180,651 | +260% |
| Financial income | 75/76B | €3,609 | €614 | -€2,995 | -83.0% |
| Recurring financial income | 75 | €3,609 | €614 | -€2,995 | -83.0% |
| Financial charges | 65/66B | €108,508 | €98,686 | -€9,822 | -9.1% |
| Recurring financial charges | 65 | €108,508 | €98,686 | -€9,822 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | -€35,322 | €152,156 | +€187,478 | |
| Income taxes | 67/77 | €2,674 | €2,111 | -€563 | -21.1% |
| Profit (loss) for the period | 9904 | -€37,996 | €150,046 | +€188,042 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,996 | €150,046 | +€188,042 |
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 18 October 2026 via checked.be.