PROOF: 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.
PROOF
Largest movements
- Stocks and contracts -€54,100
down €54,100 (-17.7%), from €304,978 to €250,878
- Cash +€45,742
up €45,742 (+34.1%), from €133,979 to €179,721
mainly Depreciation (+€131,683) and Net result for the year (+€111,233)
- Reserves +€111,233
up €111,233 (+57.1%), from €194,689 to €305,922
- Debts after one year -€102,944
down €102,944 (-10.0%), from €1.0m to €925,245
- Trade debts -€77,862
down €77,862 (-57.9%), from €134,377 to €56,515
- Gross operating margin +€21,426
up €21,426 (+5.8%), from €370,375 to €391,801
- Taxes +€15,911
up €15,911 (+112.6%), from €14,132 to €30,043
- Financial charges +€15,475
up €15,475 (+52.4%), from €29,526 to €45,001
- Other operating charges +€14,846
up €14,846 (+25.2%), from €58,993 to €73,839
- Depreciation +€5,281
up €5,281 (+4.2%), from €126,403 to €131,683
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.
Cash bridge derived
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 | €2,562,590 | €2,513,505 | -€49,085 | -1.9% |
| Fixed assets | 21/28 | €1,939,921 | €1,917,557 | -€22,364 | -1.2% |
| Tangible fixed assets | 22/27 | €1,939,921 | €1,917,557 | -€22,364 | -1.2% |
| Land and buildings | 22 | €1,927,975 | €1,909,124 | -€18,851 | -1.0% |
| Plant, machinery and equipment | 23 | €11,946 | €8,433 | -€3,513 | -29.4% |
| Current assets | 29/58 | €622,670 | €595,948 | -€26,721 | -4.3% |
| Stocks and contracts in progress | 3 | €304,978 | €250,878 | -€54,100 | -17.7% |
| Stocks | 30/36 | €304,978 | €250,878 | -€54,100 | -17.7% |
| Amounts receivable within one year | 40/41 | €175,008 | €155,587 | -€19,422 | -11.1% |
| Trade receivables | 40 | €172,572 | €147,977 | -€24,595 | -14.3% |
| Other amounts receivable | 41 | €2,437 | €7,610 | +€5,174 | +212.3% |
| Cash at bank and in hand | 54/58 | €133,979 | €179,721 | +€45,742 | +34.1% |
| Deferred charges and accrued income | 490/1 | €8,704 | €9,763 | +€1,059 | +12.2% |
| Total equity and liabilities | 10/49 | €2,562,590 | €2,513,505 | -€49,085 | -1.9% |
| Equity | 10/15 | €967,890 | €1,079,123 | +€111,233 | +11.5% |
| Contributions | 10/11 | €773,201 | €773,201 | = | 0.0% |
| Reserves | 13 | €194,689 | €305,922 | +€111,233 | +57.1% |
| Distributable reserves | 133 | €194,689 | €305,922 | +€111,233 | +57.1% |
| Amounts payable | 17/49 | €1,594,700 | €1,434,382 | -€160,318 | -10.1% |
| Amounts payable after more than one year | 17 | €1,028,190 | €925,245 | -€102,944 | -10.0% |
| Financial debts | 170/4 | €1,028,190 | €925,245 | -€102,944 | -10.0% |
| Amounts payable within one year | 42/48 | €566,510 | €509,136 | -€57,374 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €102,944 | €102,944 | = | 0.0% |
| Trade debts | 44 | €134,377 | €56,515 | -€77,862 | -57.9% |
| Suppliers | 440/4 | €134,377 | €56,515 | -€77,862 | -57.9% |
| Taxes, remuneration and social security | 45 | €16,376 | €30,165 | +€13,788 | +84.2% |
| Taxes | 450/3 | €16,376 | €30,165 | +€13,788 | +84.2% |
| Other amounts payable | 47/48 | €312,812 | €319,512 | +€6,700 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,403 | €131,683 | +€5,281 | +4.2% |
| Other operating charges | 640/8 | €58,993 | €73,839 | +€14,846 | +25.2% |
| Gross operating margin | 9900 | €370,375 | €391,801 | +€21,426 | +5.8% |
| Operating profit (loss) | 9901 | €184,980 | €186,278 | +€1,298 | +0.7% |
| Financial charges | 65/66B | €29,526 | €45,001 | +€15,475 | +52.4% |
| Recurring financial charges | 65 | €29,526 | €45,001 | +€15,475 | +52.4% |
| Profit (loss) for the period before taxes | 9903 | €155,454 | €141,277 | -€14,177 | -9.1% |
| Income taxes | 67/77 | €14,132 | €30,043 | +€15,911 | +112.6% |
| Profit (loss) for the period | 9904 | €141,321 | €111,233 | -€30,088 | -21.3% |
| Profit (loss) for the period to be appropriated | 9905 | €141,321 | €111,233 | -€30,088 | -21.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.