QUALITY-BAKE-OFF: 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.
QUALITY-BAKE-OFF
Largest movements
- Cash -€19,863
down €19,863 (-62.4%), from €31,817 to €11,954
mainly Other debts (-€392,449) and Investment in fixed assets (net) (-€16,061)
- Receivables within one year -€11,339
down €11,339 (-4.2%), from €271,359 to €260,019
of which Other amounts receivable: -€21,770
- Tangible fixed assets +€6,685
up €6,685 (+16.4%), from €40,761 to €47,446
of which Plant, machinery and equipment: +€12,020
- Other debts -€392,449
down €392,449 (-82.7%), from €474,636 to €82,187
- Debts after one year +€327,991
up €327,991 (+3398.3%), from €9,652 to €337,642
of which Financial debts: +€322,171
- Profit (loss) carried forward +€42,107
up €42,107 (+14.6%), from -€288,092 to -€245,985
- Gross operating margin -€18,599
down €18,599 (-25.3%), from €73,477 to €54,878
- Other operating charges -€17,563
down €17,563 (-91.6%), from €19,175 to €1,611
- Financial charges +€1,092
up €1,092 (+157.6%), from €693 to €1,785
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 | €346,688 | €322,171 | -€24,518 | -7.1% |
| Fixed assets | 21/28 | €43,513 | €50,197 | +€6,685 | +15.4% |
| Tangible fixed assets | 22/27 | €40,761 | €47,446 | +€6,685 | +16.4% |
| Land and buildings | 22 | €6,825 | €5,790 | -€1,035 | -15.2% |
| Plant, machinery and equipment | 23 | €14,586 | €26,606 | +€12,020 | +82.4% |
| Furniture and vehicles | 24 | €19,350 | €15,050 | -€4,300 | -22.2% |
| Financial fixed assets | 28 | €2,752 | €2,752 | = | 0.0% |
| Current assets | 29/58 | €303,176 | €271,973 | -€31,202 | -10.3% |
| Amounts receivable within one year | 40/41 | €271,359 | €260,019 | -€11,339 | -4.2% |
| Trade receivables | 40 | €97,513 | €107,943 | +€10,431 | +10.7% |
| Other amounts receivable | 41 | €173,846 | €152,076 | -€21,770 | -12.5% |
| Cash at bank and in hand | 54/58 | €31,817 | €11,954 | -€19,863 | -62.4% |
| Total equity and liabilities | 10/49 | €346,688 | €322,171 | -€24,518 | -7.1% |
| Equity | 10/15 | -€173,171 | -€131,064 | +€42,107 | +24.3% |
| Contributions | 10/11 | €111,552 | €111,552 | = | 0.0% |
| Capital | 10 | €111,552 | €111,552 | = | 0.0% |
| Issued capital | 100 | €111,552 | €111,552 | = | 0.0% |
| Reserves | 13 | €3,369 | €3,369 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,369 | €3,369 | = | 0.0% |
| Legal reserve | 130 | €3,369 | €3,369 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€288,092 | -€245,985 | +€42,107 | +14.6% |
| Amounts payable | 17/49 | €519,859 | €453,235 | -€66,624 | -12.8% |
| Amounts payable after more than one year | 17 | €9,652 | €337,642 | +€327,991 | +3398.3% |
| Financial debts | 170/4 | €4,668 | €326,838 | +€322,171 | +6902.3% |
| Other amounts payable | 178/9 | €4,984 | €10,804 | +€5,820 | +116.8% |
| Amounts payable within one year | 42/48 | €510,207 | €115,592 | -€394,615 | -77.3% |
| Current portion of amounts payable after more than one year | 42 | €1,973 | €2,937 | +€965 | +48.9% |
| Trade debts | 44 | €23,742 | €23,257 | -€485 | -2.0% |
| Suppliers | 440/4 | €23,742 | €23,257 | -€485 | -2.0% |
| Taxes, remuneration and social security | 45 | €9,856 | €7,211 | -€2,645 | -26.8% |
| Taxes | 450/3 | €9,856 | €7,211 | -€2,645 | -26.8% |
| Other amounts payable | 47/48 | €474,636 | €82,187 | -€392,449 | -82.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,880 | €9,376 | +€496 | +5.6% |
| Other operating charges | 640/8 | €19,175 | €1,611 | -€17,563 | -91.6% |
| Gross operating margin | 9900 | €73,477 | €54,878 | -€18,599 | -25.3% |
| Operating profit (loss) | 9901 | €45,422 | €43,891 | -€1,531 | -3.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €693 | €1,785 | +€1,092 | +157.6% |
| Recurring financial charges | 65 | €693 | €1,785 | +€1,092 | +157.6% |
| Profit (loss) for the period before taxes | 9903 | €44,730 | €42,107 | -€2,623 | -5.9% |
| Profit (loss) for the period | 9904 | €44,730 | €42,107 | -€2,623 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €44,730 | €42,107 | -€2,623 | -5.9% |
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 3 October 2026 via checked.be.