Profiel: 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.
Profiel
Largest movements
- Stocks and contracts -€72,405
down €72,405 (-9.0%), from €807,405 to €735,000
- Tangible fixed assets -€51,090
down €51,090 (-31.4%), from €162,887 to €111,797
of which Other tangible fixed assets: -€57,993
- Receivables within one year -€47,292
down €47,292 (-34.2%), from €138,175 to €90,883
of which Trade receivables: -€44,244
- Cash -€32,277
down €32,277 (-10.7%), from €302,585 to €270,308
mainly Trade debts (-€125,386) and Current portion of long-term debt (-€29,990)
- Trade debts -€125,386
down €125,386 (-27.1%), from €462,153 to €336,767
- Current portion of long-term debt -€29,990
down €29,990 (-50.0%), from €59,952 to €29,962
- Reserves -€29,609
down €29,609 (-8.2%), from €361,600 to €331,990
of which Distributable reserves: -€29,609
- Debts after one year -€27,220
down €27,220 (-39.5%), from €68,832 to €41,612
- Gross operating margin -€33,899
down €33,899 (-12.0%), from €281,570 to €247,671
- Financial charges -€4,683
down €4,683 (-15.7%), from €29,786 to €25,103
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 | €1,470,167 | €1,261,037 | -€209,130 | -14.2% |
| Fixed assets | 21/28 | €192,647 | €141,557 | -€51,090 | -26.5% |
| Tangible fixed assets | 22/27 | €162,887 | €111,797 | -€51,090 | -31.4% |
| Plant, machinery and equipment | 23 | €4,690 | €2,592 | -€2,098 | -44.7% |
| Furniture and vehicles | 24 | €1,063 | €10,064 | +€9,001 | +846.5% |
| Other tangible fixed assets | 26 | €157,134 | €99,141 | -€57,993 | -36.9% |
| Financial fixed assets | 28 | €29,760 | €29,760 | = | 0.0% |
| Current assets | 29/58 | €1,277,520 | €1,119,481 | -€158,040 | -12.4% |
| Stocks and contracts in progress | 3 | €807,405 | €735,000 | -€72,405 | -9.0% |
| Stocks | 30/36 | €807,405 | €735,000 | -€72,405 | -9.0% |
| Amounts receivable within one year | 40/41 | €138,175 | €90,883 | -€47,292 | -34.2% |
| Trade receivables | 40 | €115,364 | €71,121 | -€44,244 | -38.4% |
| Other amounts receivable | 41 | €22,810 | €19,762 | -€3,048 | -13.4% |
| Cash at bank and in hand | 54/58 | €302,585 | €270,308 | -€32,277 | -10.7% |
| Deferred charges and accrued income | 490/1 | €29,356 | €23,289 | -€6,067 | -20.7% |
| Total equity and liabilities | 10/49 | €1,470,167 | €1,261,037 | -€209,130 | -14.2% |
| Equity | 10/15 | €498,994 | €469,385 | -€29,609 | -5.9% |
| Contributions | 10/11 | €137,395 | €137,395 | = | 0.0% |
| Reserves | 13 | €361,600 | €331,990 | -€29,609 | -8.2% |
| Non-distributable reserves | 130/1 | €14,359 | €14,359 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,359 | €14,359 | = | 0.0% |
| Distributable reserves | 133 | €347,240 | €317,631 | -€29,609 | -8.5% |
| Amounts payable | 17/49 | €971,173 | €791,652 | -€179,521 | -18.5% |
| Amounts payable after more than one year | 17 | €68,832 | €41,612 | -€27,220 | -39.5% |
| Financial debts | 170/4 | €68,832 | €41,612 | -€27,220 | -39.5% |
| Amounts payable within one year | 42/48 | €876,606 | €734,914 | -€141,692 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €59,952 | €29,962 | -€29,990 | -50.0% |
| Financial debts | 43 | €295,000 | €295,000 | = | 0.0% |
| Credit institutions | 430/8 | €295,000 | €295,000 | = | 0.0% |
| Trade debts | 44 | €462,153 | €336,767 | -€125,386 | -27.1% |
| Suppliers | 440/4 | €462,153 | €336,767 | -€125,386 | -27.1% |
| Taxes, remuneration and social security | 45 | €59,140 | €70,469 | +€11,329 | +19.2% |
| Taxes | 450/3 | €50,290 | €60,558 | +€10,268 | +20.4% |
| Remuneration and social security | 454/9 | €8,849 | €9,911 | +€1,062 | +12.0% |
| Other amounts payable | 47/48 | €361 | €2,716 | +€2,355 | +651.8% |
| Accrued charges and deferred income | 492/3 | €25,735 | €15,126 | -€10,609 | -41.2% |
| Remuneration, social security and pensions | 62 | €49,466 | €50,436 | +€969 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,912 | €64,049 | +€137 | +0.2% |
| Other operating charges | 640/8 | €135,451 | €138,241 | +€2,791 | +2.1% |
| Gross operating margin | 9900 | €281,570 | €247,671 | -€33,899 | -12.0% |
| Operating profit (loss) | 9901 | €32,742 | -€5,055 | -€37,796 | |
| Financial income | 75/76B | €73 | €1,037 | +€964 | +1325.7% |
| Recurring financial income | 75 | €73 | €1,037 | +€964 | +1325.7% |
| Financial charges | 65/66B | €29,786 | €25,103 | -€4,683 | -15.7% |
| Recurring financial charges | 65 | €29,786 | €25,103 | -€4,683 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €3,029 | -€29,120 | -€32,149 | |
| Income taxes | 67/77 | €1,398 | €489 | -€909 | -65.0% |
| Profit (loss) for the period | 9904 | €1,631 | -€29,609 | -€31,240 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,631 | -€29,609 | -€31,240 |
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 9 October 2026 via checked.be.