PRODUCTIE2+: 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.
PRODUCTIE2+
Largest movements
- Receivables within one year +€1.1m
up €1.1m (+242%), from €456,196 to €1.6m
of which Trade receivables: +€574,584
- Tangible fixed assets -€428,632
down €428,632 (-9.9%), from €4.3m to €3.9m
of which Leasing and similar rights: -€343,231
- Stocks and contracts -€235,190
down €235,190 (-16.3%), from €1.4m to €1.2m
- Cash -€102,359
down €102,359 (-30.8%), from €332,168 to €229,810
mainly Receivables within one year (-€1.1m) and Debts after one year (-€364,144)
- Debts after one year -€364,144
down €364,144 (-14.3%), from €2.6m to €2.2m
- Other debts +€273,516
up €273,516 (+51.9%), from €526,931 to €800,447
- Short-term financial debts +€243,039
up €243,039 (+44.2%), from €550,000 to €793,039
- Accrued charges and deferred income +€102,648
up €102,648 (+1,083%), from €9,480 to €112,129
- Trade debts +€86,589
up €86,589 (+7.5%), from €1.2m to €1.2m
- Gross operating margin +€474,511
up €474,511 (+37.3%), from €1.3m to €1.7m
- Staff costs +€318,672
up €318,672 (+46.1%), from €690,576 to €1.0m
- Depreciation +€114,981
up €114,981 (+31.2%), from €368,342 to €483,322
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,594,655 | €6,934,032 | +€339,377 | +5.1% |
| Fixed assets | 21/28 | €4,333,943 | €3,904,314 | -€429,628 | -9.9% |
| Intangible fixed assets | 21 | €4,822 | €3,825 | -€997 | -20.7% |
| Tangible fixed assets | 22/27 | €4,329,121 | €3,900,489 | -€428,632 | -9.9% |
| Plant, machinery and equipment | 23 | €219,192 | €174,354 | -€44,838 | -20.5% |
| Furniture and vehicles | 24 | €4,733 | €3,418 | -€1,315 | -27.8% |
| Leasing and similar rights | 25 | €3,536,673 | €3,193,442 | -€343,231 | -9.7% |
| Other tangible fixed assets | 26 | €568,523 | €529,275 | -€39,248 | -6.9% |
| Current assets | 29/58 | €2,260,712 | €3,029,717 | +€769,005 | +34.0% |
| Stocks and contracts in progress | 3 | €1,445,936 | €1,210,747 | -€235,190 | -16.3% |
| Stocks | 30/36 | €1,445,936 | €1,210,747 | -€235,190 | -16.3% |
| Amounts receivable within one year | 40/41 | €456,196 | €1,560,003 | +€1.1m | +242% |
| Trade receivables | 40 | €367,867 | €942,451 | +€574,584 | +156% |
| Other amounts receivable | 41 | €88,329 | €617,552 | +€529,223 | +599% |
| Cash at bank and in hand | 54/58 | €332,168 | €229,810 | -€102,359 | -30.8% |
| Deferred charges and accrued income | 490/1 | €26,412 | €29,158 | +€2,747 | +10.4% |
| Total equity and liabilities | 10/49 | €6,594,655 | €6,934,032 | +€339,377 | +5.1% |
| Equity | 10/15 | €1,299,150 | €1,301,593 | +€2,444 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,258,612 | €1,261,056 | +€2,444 | +0.2% |
| Distributable reserves | 133 | €1,258,612 | €1,261,056 | +€2,444 | +0.2% |
| Investment grants | 15 | €21,938 | €21,938 | = | 0.0% |
| Amounts payable | 17/49 | €5,295,506 | €5,632,439 | +€336,933 | +6.4% |
| Amounts payable after more than one year | 17 | €2,554,274 | €2,190,130 | -€364,144 | -14.3% |
| Financial debts | 170/4 | €2,554,274 | €2,190,130 | -€364,144 | -14.3% |
| Amounts payable within one year | 42/48 | €2,731,751 | €3,330,180 | +€598,428 | +21.9% |
| Current portion of amounts payable after more than one year | 42 | €431,135 | €374,001 | -€57,134 | -13.3% |
| Financial debts | 43 | €550,000 | €793,039 | +€243,039 | +44.2% |
| Credit institutions | 430/8 | €550,000 | €793,039 | +€243,039 | +44.2% |
| Trade debts | 44 | €1,155,237 | €1,241,826 | +€86,589 | +7.5% |
| Suppliers | 440/4 | €1,155,237 | €1,241,826 | +€86,589 | +7.5% |
| Taxes, remuneration and social security | 45 | €68,448 | €120,866 | +€52,419 | +76.6% |
| Taxes | 450/3 | - | €17,562 | +€17,562 | |
| Remuneration and social security | 454/9 | €68,448 | €103,304 | +€34,857 | +50.9% |
| Other amounts payable | 47/48 | €526,931 | €800,447 | +€273,516 | +51.9% |
| Accrued charges and deferred income | 492/3 | €9,480 | €112,129 | +€102,648 | +1,083% |
| Non-recurring operating income | 76A | €322 | - | -€322 | |
| Remuneration, social security and pensions | 62 | €690,576 | €1,009,248 | +€318,672 | +46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €368,342 | €483,322 | +€114,981 | +31.2% |
| Other operating charges | 640/8 | €10,031 | €19,674 | +€9,642 | +96.1% |
| Non-recurring operating charges | 66A | €160,313 | €935 | -€159,378 | -99.4% |
| Gross operating margin | 9900 | €1,270,778 | €1,745,289 | +€474,511 | +37.3% |
| Operating profit (loss) | 9901 | €41,518 | €232,111 | +€190,593 | +459% |
| Financial charges | 65/66B | €62,990 | €73,859 | +€10,869 | +17.3% |
| Recurring financial charges | 65 | €62,990 | €73,859 | +€10,869 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | -€21,473 | €158,252 | +€179,724 | |
| Income taxes | 67/77 | €1 | €10,808 | +€10,807 | +1,228,069% |
| Profit (loss) for the period | 9904 | -€21,473 | €147,444 | +€168,917 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21,473 | €147,444 | +€168,917 |
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 30 October 2026 via checked.be.