PROFIT MANAGEMENT: 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.
PROFIT MANAGEMENT
Largest movements
- Receivables within one year -€169,799
down €169,799 (-38.1%), from €445,790 to €275,991
of which Other amounts receivable: -€225,245
- Tangible fixed assets -€115,125
down €115,125 (-7.1%), from €1.6m to €1.5m
of which Furniture and vehicles: -€92,881
- Cash -€57,542
down €57,542 (-88.2%), from €65,229 to €7,686
mainly Other debts (-€173,750) and Debts after one year (-€106,783)
- Other debts -€173,750
down €173,750 (-40.2%), from €432,100 to €258,350
- Debts after one year -€106,783
down €106,783 (-9.3%), from €1.1m to €1.0m
- Short-term financial debts -€41,829
no longer reported in 2024 (was €41,829)
- Tax, wage and social debts -€37,236
down €37,236 (-54.0%), from €68,908 to €31,672
of which Taxes: -€45,827
- Gross operating margin -€217,730
down €217,730 (-56.3%), from €386,662 to €168,932
- Taxes -€36,536
down €36,536 (-71.3%), from €51,264 to €14,728
- Depreciation -€9,327
down €9,327 (-16.0%), from €58,235 to €48,908
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,974,255 | €2,621,234 | -€353,021 | -11.9% |
| Fixed assets | 21/28 | €2,278,208 | €2,161,420 | -€116,789 | -5.1% |
| Intangible fixed assets | 21 | €3,113 | €1,450 | -€1,664 | -53.4% |
| Tangible fixed assets | 22/27 | €1,614,783 | €1,499,658 | -€115,125 | -7.1% |
| Plant, machinery and equipment | 23 | €1,244 | €502 | -€742 | -59.6% |
| Furniture and vehicles | 24 | €92,881 | - | -€92,881 | |
| Other tangible fixed assets | 26 | €1,520,658 | €1,499,156 | -€21,502 | -1.4% |
| Financial fixed assets | 28 | €660,312 | €660,312 | = | 0.0% |
| Current assets | 29/58 | €696,047 | €459,814 | -€236,232 | -33.9% |
| Amounts receivable after more than one year | 29 | €160,000 | €160,000 | = | 0.0% |
| Other amounts receivable | 291 | €160,000 | €160,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €445,790 | €275,991 | -€169,799 | -38.1% |
| Trade receivables | 40 | €155,639 | €211,085 | +€55,446 | +35.6% |
| Other amounts receivable | 41 | €290,151 | €64,906 | -€225,245 | -77.6% |
| Cash at bank and in hand | 54/58 | €65,229 | €7,686 | -€57,542 | -88.2% |
| Deferred charges and accrued income | 490/1 | €25,028 | €16,138 | -€8,891 | -35.5% |
| Total equity and liabilities | 10/49 | €2,974,255 | €2,621,234 | -€353,021 | -11.9% |
| Equity | 10/15 | €1,146,418 | €1,150,416 | +€3,998 | +0.3% |
| Contributions | 10/11 | €61,975 | €61,975 | = | 0.0% |
| Capital | 10 | €61,975 | €61,975 | = | 0.0% |
| Issued capital | 100 | €61,975 | €61,975 | = | 0.0% |
| Reserves | 13 | €485,998 | €485,998 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,198 | €6,198 | = | 0.0% |
| Legal reserve | 130 | €6,198 | €6,198 | = | 0.0% |
| Distributable reserves | 133 | €479,800 | €479,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €598,445 | €602,443 | +€3,998 | +0.7% |
| Amounts payable | 17/49 | €1,827,837 | €1,470,818 | -€357,019 | -19.5% |
| Amounts payable after more than one year | 17 | €1,144,666 | €1,037,883 | -€106,783 | -9.3% |
| Financial debts | 170/4 | €1,144,666 | €1,037,883 | -€106,783 | -9.3% |
| Amounts payable within one year | 42/48 | €682,809 | €431,237 | -€251,572 | -36.8% |
| Current portion of amounts payable after more than one year | 42 | €117,183 | €126,783 | +€9,600 | +8.2% |
| Financial debts | 43 | €41,829 | - | -€41,829 | |
| Credit institutions | 430/8 | €41,829 | - | -€41,829 | |
| Trade debts | 44 | €22,790 | €14,433 | -€8,357 | -36.7% |
| Suppliers | 440/4 | €22,790 | €14,433 | -€8,357 | -36.7% |
| Taxes, remuneration and social security | 45 | €68,908 | €31,672 | -€37,236 | -54.0% |
| Taxes | 450/3 | €68,908 | €23,081 | -€45,827 | -66.5% |
| Remuneration and social security | 454/9 | - | €8,591 | +€8,591 | |
| Other amounts payable | 47/48 | €432,100 | €258,350 | -€173,750 | -40.2% |
| Accrued charges and deferred income | 492/3 | €362 | €1,697 | +€1,336 | +369% |
| Non-recurring operating income | 76A | €127,146 | €11,285 | -€115,861 | -91.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,235 | €48,908 | -€9,327 | -16.0% |
| Other operating charges | 640/8 | €7,288 | €9,149 | +€1,860 | +25.5% |
| Non-recurring operating charges | 66A | €110,000 | €56,423 | -€53,577 | -48.7% |
| Gross operating margin | 9900 | €386,662 | €168,932 | -€217,730 | -56.3% |
| Operating profit (loss) | 9901 | €211,139 | €54,452 | -€156,687 | -74.2% |
| Financial income | 75/76B | €9,033 | €7,945 | -€1,088 | -12.0% |
| Recurring financial income | 75 | €9,033 | €7,945 | -€1,088 | -12.0% |
| Financial charges | 65/66B | €43,857 | €43,671 | -€185 | -0.4% |
| Recurring financial charges | 65 | €34,280 | €43,671 | +€9,392 | +27.4% |
| Non-recurring financial charges | 66B | €9,577 | - | -€9,577 | |
| Profit (loss) for the period before taxes | 9903 | €176,315 | €18,726 | -€157,590 | -89.4% |
| Income taxes | 67/77 | €51,264 | €14,728 | -€36,536 | -71.3% |
| Profit (loss) for the period | 9904 | €125,052 | €3,998 | -€121,054 | -96.8% |
| Profit (loss) for the period to be appropriated | 9905 | €125,052 | €3,998 | -€121,054 | -96.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.