PUSH TO TALK: 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.
PUSH TO TALK
Largest movements
- Tangible fixed assets +€130,519
up €130,519 (+305%), from €42,794 to €173,312
of which Land and buildings: +€125,099
- Cash +€11,809
up €11,809 (+175%), from €6,730 to €18,539
mainly Debts after one year (+€122,653) and Depreciation (+€21,266)
- Receivables within one year -€10,221
down €10,221 (-27.1%), from €37,738 to €27,517
of which Trade receivables: -€17,803
- Stocks and contracts +€9,528
new in 2025: €9,528
- Debts after one year +€122,653
up €122,653 (+340%), from €36,127 to €158,780
- Reserves +€19,853
up €19,853 (+27.8%), from €71,321 to €91,174
- Current portion of long-term debt +€15,554
up €15,554 (+92.4%), from €16,841 to €32,395
- Tax, wage and social debts -€13,404
down €13,404 (-62.0%), from €21,603 to €8,199
- Other debts -€8,780
down €8,780 (-12.8%), from €68,819 to €60,039
- Gross operating margin -€6,313
down €6,313 (-9.6%), from €65,746 to €59,433
- Taxes -€3,381
down €3,381 (-24.4%), from €13,830 to €10,449
- Other operating charges +€3,252
up €3,252 (+56.5%), from €5,755 to €9,007
- Depreciation +€3,110
up €3,110 (+17.1%), from €18,156 to €21,266
- Financial charges -€864
down €864 (-52.6%), from €1,641 to €777
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.
Derived cash bridge
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 | €229,610 | €369,832 | +€140,222 | +61.1% |
| Fixed assets | 21/28 | €165,694 | €296,212 | +€130,519 | +78.8% |
| Tangible fixed assets | 22/27 | €42,794 | €173,312 | +€130,519 | +305% |
| Land and buildings | 22 | - | €125,099 | +€125,099 | |
| Plant, machinery and equipment | 23 | €16,676 | €10,860 | -€5,816 | -34.9% |
| Furniture and vehicles | 24 | €10,532 | €22,144 | +€11,612 | +110% |
| Other tangible fixed assets | 26 | €15,586 | €15,209 | -€377 | -2.4% |
| Financial fixed assets | 28 | €122,900 | €122,900 | = | 0.0% |
| Current assets | 29/58 | €63,916 | €73,619 | +€9,703 | +15.2% |
| Amounts receivable after more than one year | 29 | €16,000 | €16,000 | = | 0.0% |
| Other amounts receivable | 291 | €16,000 | €16,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €9,528 | +€9,528 | |
| Stocks | 30/36 | - | €9,528 | +€9,528 | |
| Amounts receivable within one year | 40/41 | €37,738 | €27,517 | -€10,221 | -27.1% |
| Trade receivables | 40 | €23,702 | €5,899 | -€17,803 | -75.1% |
| Other amounts receivable | 41 | €14,036 | €21,619 | +€7,583 | +54.0% |
| Cash at bank and in hand | 54/58 | €6,730 | €18,539 | +€11,809 | +175% |
| Deferred charges and accrued income | 490/1 | €3,448 | €2,035 | -€1,413 | -41.0% |
| Total equity and liabilities | 10/49 | €229,610 | €369,832 | +€140,222 | +61.1% |
| Equity | 10/15 | €81,321 | €101,174 | +€19,853 | +24.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €71,321 | €91,174 | +€19,853 | +27.8% |
| Distributable reserves | 133 | €71,321 | €91,174 | +€19,853 | +27.8% |
| Amounts payable | 17/49 | €148,288 | €268,658 | +€120,370 | +81.2% |
| Amounts payable after more than one year | 17 | €36,127 | €158,780 | +€122,653 | +340% |
| Financial debts | 170/4 | €36,127 | €158,780 | +€122,653 | +340% |
| Amounts payable within one year | 42/48 | €110,848 | €108,538 | -€2,310 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €16,841 | €32,395 | +€15,554 | +92.4% |
| Trade debts | 44 | €3,584 | €7,904 | +€4,320 | +121% |
| Suppliers | 440/4 | €3,584 | €7,904 | +€4,320 | +121% |
| Taxes, remuneration and social security | 45 | €21,603 | €8,199 | -€13,404 | -62.0% |
| Taxes | 450/3 | €21,603 | €8,199 | -€13,404 | -62.0% |
| Other amounts payable | 47/48 | €68,819 | €60,039 | -€8,780 | -12.8% |
| Accrued charges and deferred income | 492/3 | €1,314 | €1,340 | +€26 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,156 | €21,266 | +€3,110 | +17.1% |
| Other operating charges | 640/8 | €5,755 | €9,007 | +€3,252 | +56.5% |
| Gross operating margin | 9900 | €65,746 | €59,433 | -€6,313 | -9.6% |
| Operating profit (loss) | 9901 | €41,835 | €29,160 | -€12,675 | -30.3% |
| Financial income | 75/76B | €2,272 | €1,918 | -€354 | -15.6% |
| Recurring financial income | 75 | €2,272 | €1,918 | -€354 | -15.6% |
| Financial charges | 65/66B | €1,641 | €777 | -€864 | -52.6% |
| Recurring financial charges | 65 | €1,641 | €777 | -€864 | -52.6% |
| Profit (loss) for the period before taxes | 9903 | €42,466 | €30,301 | -€12,165 | -28.6% |
| Income taxes | 67/77 | €13,830 | €10,449 | -€3,381 | -24.4% |
| Profit (loss) for the period | 9904 | €28,637 | €19,853 | -€8,784 | -30.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,637 | €19,853 | -€8,784 | -30.7% |
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 19 October 2026 via checked.be.