PROFIL: what changed
Two fiscal 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.
PROFIL
Largest movements
- Receivables within one year -€13,814
down €13,814 (-30.2%), from €45,817 to €32,003
of which Trade receivables: -€16,614
- Tangible fixed assets +€5,145
up €5,145 (+33.7%), from €15,287 to €20,432
of which Plant, machinery and equipment: +€4,394
- Cash +€3,015
up €3,015 (+2.0%), from €151,137 to €154,152
mainly Net result for the year (+€54,400) and Receivables within one year (+€13,814)
- Reserves +€23,000
up €23,000 (+600.5%), from €3,830 to €26,830
of which Distributable reserves: +€23,000
- Other debts -€17,100
down €17,100 (-31.4%), from €54,386 to €37,286
- Tax, wage and social debts -€15,063
down €15,063 (-59.8%), from €25,207 to €10,144
- Current portion of long-term debt +€6,005
new in 2025: €6,005
- Trade debts -€3,896
down €3,896 (-47.3%), from €8,242 to €4,347
- Gross operating margin -€20,781
down €20,781 (-18.2%), from €113,882 to €93,100
- Financial charges +€11,644
up €11,644 (+3601.5%), from €323 to €11,967
- Other operating charges -€10,062
down €10,062 (-99.4%), from €10,125 to €63
- Taxes -€4,426
down €4,426 (-16.4%), from €27,001 to €22,575
- Depreciation +€1,359
up €1,359 (+41.1%), from €3,306 to €4,665
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 | €212,241 | €206,587 | -€5,655 | -2.7% |
| Fixed assets | 21/28 | €15,287 | €20,432 | +€5,145 | +33.7% |
| Tangible fixed assets | 22/27 | €15,287 | €20,432 | +€5,145 | +33.7% |
| Land and buildings | 22 | - | €4,000 | +€4,000 | |
| Plant, machinery and equipment | 23 | €2,243 | €6,637 | +€4,394 | +195.9% |
| Furniture and vehicles | 24 | €10,268 | €8,812 | -€1,456 | -14.2% |
| Other tangible fixed assets | 26 | €2,776 | €983 | -€1,793 | -64.6% |
| Current assets | 29/58 | €196,954 | €186,155 | -€10,799 | -5.5% |
| Amounts receivable within one year | 40/41 | €45,817 | €32,003 | -€13,814 | -30.2% |
| Trade receivables | 40 | €39,516 | €22,901 | -€16,614 | -42.0% |
| Other amounts receivable | 41 | €6,301 | €9,102 | +€2,800 | +44.4% |
| Cash at bank and in hand | 54/58 | €151,137 | €154,152 | +€3,015 | +2.0% |
| Total equity and liabilities | 10/49 | €212,241 | €206,587 | -€5,655 | -2.7% |
| Equity | 10/15 | €124,405 | €148,805 | +€24,400 | +19.6% |
| Contributions | 10/11 | €1,487 | €1,487 | = | 0.0% |
| Outside capital | 11 | €1,487 | €1,487 | = | 0.0% |
| Other | 1109/19 | €1,487 | €1,487 | = | 0.0% |
| Reserves | 13 | €3,830 | €26,830 | +€23,000 | +600.5% |
| Non-distributable reserves | 130/1 | €390 | €390 | = | 0.0% |
| Reserves not available under the articles | 1311 | €390 | €390 | = | 0.0% |
| Tax-exempt reserves | 132 | €440 | €440 | = | 0.0% |
| Distributable reserves | 133 | €3,000 | €26,000 | +€23,000 | +766.7% |
| Profit (loss) carried forward | 14 | €119,088 | €120,487 | +€1,400 | +1.2% |
| Amounts payable | 17/49 | €87,836 | €57,782 | -€30,054 | -34.2% |
| Amounts payable within one year | 42/48 | €87,836 | €57,782 | -€30,054 | -34.2% |
| Current portion of amounts payable after more than one year | 42 | - | €6,005 | +€6,005 | |
| Trade debts | 44 | €8,242 | €4,347 | -€3,896 | -47.3% |
| Suppliers | 440/4 | €8,242 | €4,347 | -€3,896 | -47.3% |
| Taxes, remuneration and social security | 45 | €25,207 | €10,144 | -€15,063 | -59.8% |
| Taxes | 450/3 | €25,207 | €10,144 | -€15,063 | -59.8% |
| Other amounts payable | 47/48 | €54,386 | €37,286 | -€17,100 | -31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,306 | €4,665 | +€1,359 | +41.1% |
| Other operating charges | 640/8 | €10,125 | €63 | -€10,062 | -99.4% |
| Gross operating margin | 9900 | €113,882 | €93,100 | -€20,781 | -18.2% |
| Operating profit (loss) | 9901 | €100,451 | €88,372 | -€12,079 | -12.0% |
| Financial income | 75/76B | €279 | €570 | +€291 | +104.3% |
| Recurring financial income | 75 | €279 | €570 | +€291 | +104.3% |
| Financial charges | 65/66B | €323 | €11,967 | +€11,644 | +3601.5% |
| Recurring financial charges | 65 | €323 | €11,967 | +€11,644 | +3601.5% |
| Profit (loss) for the period before taxes | 9903 | €100,406 | €76,975 | -€23,432 | -23.3% |
| Income taxes | 67/77 | €27,001 | €22,575 | -€4,426 | -16.4% |
| Profit (loss) for the period | 9904 | €73,405 | €54,400 | -€19,006 | -25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,405 | €54,400 | -€19,006 | -25.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.