PRODUCTION: 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.
PRODUCTION
Largest movements
- Cash +€488,752
up €488,752 (+3595.6%), from €13,593 to €502,345
mainly Net result for the year (+€355,136) and Receivables within one year (+€184,798)
- Receivables within one year -€184,798
down €184,798 (-72.1%), from €256,242 to €71,444
of which Other amounts receivable: -€130,709
- Tangible fixed assets -€26,731
no longer reported in 2025 (was €26,731)
of which Land and buildings: -€23,295
- Deferred charges and accrued income -€11,182
no longer reported in 2025 (was €11,182)
- Reserves +€355,136
up €355,136 (+530.3%), from €66,974 to €422,110
of which Distributable reserves: +€355,136
- Trade debts -€55,900
down €55,900 (-47.1%), from €118,670 to €62,770
- Current portion of long-term debt -€35,572
no longer reported in 2025 (was €35,572)
- Gross operating margin +€493,974
up €493,974 (+247.9%), from €199,290 to €693,264
- Taxes +€89,800
up €89,800, from -€3,876 to €85,925
- Staff costs -€41,952
down €41,952 (-15.0%), from €279,859 to €237,907
- Depreciation -€8,030
no longer reported in 2025 (was €8,030)
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 | €315,786 | €579,319 | +€263,532 | +83.5% |
| Fixed assets | 21/28 | €34,770 | €5,530 | -€29,240 | -84.1% |
| Intangible fixed assets | 21 | €4,422 | - | -€4,422 | |
| Tangible fixed assets | 22/27 | €26,731 | - | -€26,731 | |
| Land and buildings | 22 | €23,295 | - | -€23,295 | |
| Furniture and vehicles | 24 | €3,435 | - | -€3,435 | |
| Financial fixed assets | 28 | €3,617 | €5,530 | +€1,913 | +52.9% |
| Current assets | 29/58 | €281,017 | €573,789 | +€292,772 | +104.2% |
| Amounts receivable within one year | 40/41 | €256,242 | €71,444 | -€184,798 | -72.1% |
| Trade receivables | 40 | €111,458 | €57,368 | -€54,090 | -48.5% |
| Other amounts receivable | 41 | €144,784 | €14,075 | -€130,709 | -90.3% |
| Cash at bank and in hand | 54/58 | €13,593 | €502,345 | +€488,752 | +3595.6% |
| Deferred charges and accrued income | 490/1 | €11,182 | - | -€11,182 | |
| Total equity and liabilities | 10/49 | €315,786 | €579,319 | +€263,532 | +83.5% |
| Equity | 10/15 | €135,145 | €490,281 | +€355,136 | +262.8% |
| Contributions | 10/11 | €68,171 | €68,171 | = | 0.0% |
| Capital | 10 | €68,171 | €68,171 | = | 0.0% |
| Issued capital | 100 | €68,171 | €68,171 | = | 0.0% |
| Reserves | 13 | €66,974 | €422,110 | +€355,136 | +530.3% |
| Non-distributable reserves | 130/1 | €6,817 | €6,817 | = | 0.0% |
| Legal reserve | 130 | €6,817 | €6,817 | = | 0.0% |
| Distributable reserves | 133 | €60,157 | €415,293 | +€355,136 | +590.3% |
| Amounts payable | 17/49 | €180,642 | €89,038 | -€91,604 | -50.7% |
| Amounts payable within one year | 42/48 | €180,642 | €88,710 | -€91,931 | -50.9% |
| Current portion of amounts payable after more than one year | 42 | €35,572 | - | -€35,572 | |
| Trade debts | 44 | €118,670 | €62,770 | -€55,900 | -47.1% |
| Suppliers | 440/4 | €118,670 | €62,770 | -€55,900 | -47.1% |
| Taxes, remuneration and social security | 45 | €26,400 | €25,940 | -€460 | -1.7% |
| Taxes | 450/3 | €762 | €1,450 | +€687 | +90.2% |
| Remuneration and social security | 454/9 | €25,638 | €24,490 | -€1,147 | -4.5% |
| Accrued charges and deferred income | 492/3 | - | €327 | +€327 | |
| Non-recurring operating income | 76A | €133 | €515,575 | +€515,442 | +387084.7% |
| Remuneration, social security and pensions | 62 | €279,859 | €237,907 | -€41,952 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,030 | - | -€8,030 | |
| Other operating charges | 640/8 | €13,287 | €11,032 | -€2,256 | -17.0% |
| Gross operating margin | 9900 | €199,290 | €693,264 | +€493,974 | +247.9% |
| Operating profit (loss) | 9901 | -€101,886 | €444,326 | +€546,212 | |
| Financial income | 75/76B | €105 | €5,790 | +€5,685 | +5390.4% |
| Recurring financial income | 75 | €105 | €5,790 | +€5,685 | +5390.4% |
| Financial charges | 65/66B | €9,556 | €9,055 | -€501 | -5.2% |
| Recurring financial charges | 65 | €9,556 | €9,055 | -€501 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | -€111,337 | €441,061 | +€552,398 | |
| Income taxes | 67/77 | -€3,876 | €85,925 | +€89,800 | |
| Profit (loss) for the period | 9904 | -€107,461 | €355,136 | +€462,598 | |
| Profit (loss) for the period to be appropriated | 9905 | -€107,461 | €355,136 | +€462,598 |
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 12 October 2026 via checked.be.