PRIVATE CONSULT: 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.
PRIVATE CONSULT
Largest movements
- Stocks and contracts -€48,519
down €48,519 (-12.5%), from €387,019 to €338,501
- Cash -€34,756
down €34,756 (-66.1%), from €52,554 to €17,798
mainly Net result for the year (-€110,794) and Investment in fixed assets (net) (-€47,952)
- Intangible fixed assets -€18,253
down €18,253 (-23.7%), from €76,873 to €58,620
- Financial fixed assets +€10,866
up €10,866 (+340%), from €3,194 to €14,060
- Profit (loss) carried forward -€110,794
down €110,794 (-64.9%), from €170,776 to €59,983
- Current portion of long-term debt +€25,336
up €25,336 (+62.4%), from €40,615 to €65,952
- Debts after one year -€15,952
down €15,952 (-16.5%), from €96,534 to €80,583
- Staff costs +€17,477
up €17,477 (+627%), from €2,786 to €20,262
- Depreciation +€7,623
up €7,623 (+15.3%), from €49,852 to €57,474
- Gross operating margin -€6,876
down €6,876 (-59.9%), from -€11,486 to -€18,361
- Financial charges +€4,123
up €4,123 (+36.4%), from €11,341 to €15,464
- Other operating charges +€231
up €231 (+3.5%), from €6,594 to €6,824
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 | €901,184 | €804,601 | -€96,583 | -10.7% |
| Fixed assets | 21/28 | €448,128 | €438,606 | -€9,522 | -2.1% |
| Intangible fixed assets | 21 | €76,873 | €58,620 | -€18,253 | -23.7% |
| Tangible fixed assets | 22/27 | €368,061 | €365,926 | -€2,134 | -0.6% |
| Land and buildings | 22 | €308,921 | €293,944 | -€14,977 | -4.8% |
| Plant, machinery and equipment | 23 | €20,392 | €9,860 | -€10,532 | -51.6% |
| Furniture and vehicles | 24 | €38,747 | €28,775 | -€9,972 | -25.7% |
| Other tangible fixed assets | 26 | - | €33,347 | +€33,347 | |
| Financial fixed assets | 28 | €3,194 | €14,060 | +€10,866 | +340% |
| Current assets | 29/58 | €453,056 | €365,995 | -€87,061 | -19.2% |
| Stocks and contracts in progress | 3 | €387,019 | €338,501 | -€48,519 | -12.5% |
| Stocks | 30/36 | €387,019 | €338,501 | -€48,519 | -12.5% |
| Amounts receivable within one year | 40/41 | €8,988 | €5,732 | -€3,255 | -36.2% |
| Trade receivables | 40 | €8,065 | €5,732 | -€2,333 | -28.9% |
| Other amounts receivable | 41 | €922 | - | -€922 | |
| Cash at bank and in hand | 54/58 | €52,554 | €17,798 | -€34,756 | -66.1% |
| Deferred charges and accrued income | 490/1 | €4,495 | €3,964 | -€531 | -11.8% |
| Total equity and liabilities | 10/49 | €901,184 | €804,601 | -€96,583 | -10.7% |
| Equity | 10/15 | €190,616 | €79,823 | -€110,794 | -58.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,240 | €1,240 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,240 | €1,240 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,240 | €1,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | €170,776 | €59,983 | -€110,794 | -64.9% |
| Amounts payable | 17/49 | €710,567 | €724,778 | +€14,211 | +2.0% |
| Amounts payable after more than one year | 17 | €96,534 | €80,583 | -€15,952 | -16.5% |
| Financial debts | 170/4 | €96,534 | €80,583 | -€15,952 | -16.5% |
| Amounts payable within one year | 42/48 | €614,033 | €643,650 | +€29,617 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €40,615 | €65,952 | +€25,336 | +62.4% |
| Financial debts | 43 | €100,000 | €103,704 | +€3,704 | +3.7% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Other loans | 439 | - | €3,704 | +€3,704 | |
| Trade debts | 44 | €8,733 | €8,050 | -€683 | -7.8% |
| Suppliers | 440/4 | €8,733 | €8,050 | -€683 | -7.8% |
| Taxes, remuneration and social security | 45 | €11,496 | €16,483 | +€4,987 | +43.4% |
| Taxes | 450/3 | €11,496 | €14,814 | +€3,319 | +28.9% |
| Remuneration and social security | 454/9 | - | €1,668 | +€1,668 | |
| Other amounts payable | 47/48 | €453,189 | €449,461 | -€3,728 | -0.8% |
| Accrued charges and deferred income | 492/3 | - | €545 | +€545 | |
| Remuneration, social security and pensions | 62 | €2,786 | €20,262 | +€17,477 | +627% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,852 | €57,474 | +€7,623 | +15.3% |
| Other operating charges | 640/8 | €6,594 | €6,824 | +€231 | +3.5% |
| Gross operating margin | 9900 | -€11,486 | -€18,361 | -€6,876 | -59.9% |
| Operating profit (loss) | 9901 | -€70,717 | -€102,922 | -€32,206 | -45.5% |
| Financial income | 75/76B | €7,956 | €7,876 | -€81 | -1.0% |
| Recurring financial income | 75 | €7,956 | €160 | -€7,796 | -98.0% |
| Non-recurring financial income | 76B | - | €7,716 | +€7,716 | |
| Financial charges | 65/66B | €11,341 | €15,464 | +€4,123 | +36.4% |
| Recurring financial charges | 65 | €11,341 | €15,464 | +€4,123 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | -€74,101 | -€110,511 | -€36,410 | -49.1% |
| Income taxes | 67/77 | €144 | €283 | +€139 | +95.9% |
| Profit (loss) for the period | 9904 | -€74,246 | -€110,794 | -€36,548 | -49.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€74,246 | -€110,794 | -€36,548 | -49.2% |
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 14 October 2026 via checked.be.