QUICK OPTIC: 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.
QUICK OPTIC
Largest movements
- Tangible fixed assets +€63,844
up €63,844 (+103.3%), from €61,797 to €125,641
- Stocks and contracts -€33,393
down €33,393 (-17.3%), from €192,645 to €159,252
- Cash -€17,486
down €17,486 (-57.1%), from €30,627 to €13,141
mainly Investment in fixed assets (net) (-€89,778) and Net result for the year (-€32,025)
- Debts after one year +€34,288
up €34,288 (+116.2%), from €29,501 to €63,789
- Profit (loss) carried forward -€32,025
down €32,025 (-10.4%), from -€308,011 to -€340,036
- Other debts -€15,000
down €15,000 (-15.4%), from €97,500 to €82,500
- Current portion of long-term debt +€13,071
up €13,071 (+94.7%), from €13,800 to €26,871
- Trade debts +€10,949
up €10,949 (+18.5%), from €59,265 to €70,214
- Gross operating margin -€44,774
down €44,774 (-16.5%), from €271,244 to €226,470
- Staff costs -€4,658
down €4,658 (-2.1%), from €220,564 to €215,906
- Depreciation -€3,215
down €3,215 (-11.0%), from €29,148 to €25,933
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 | €443,017 | €454,913 | +€11,897 | +2.7% |
| Fixed assets | 21/28 | €137,020 | €200,865 | +€63,844 | +46.6% |
| Intangible fixed assets | 21 | €74,976 | €74,976 | = | 0.0% |
| Tangible fixed assets | 22/27 | €61,797 | €125,641 | +€63,844 | +103.3% |
| Furniture and vehicles | 24 | €61,797 | €125,641 | +€63,844 | +103.3% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €305,996 | €254,049 | -€51,948 | -17.0% |
| Stocks and contracts in progress | 3 | €192,645 | €159,252 | -€33,393 | -17.3% |
| Stocks | 30/36 | €192,645 | €159,252 | -€33,393 | -17.3% |
| Amounts receivable within one year | 40/41 | €82,724 | €81,656 | -€1,069 | -1.3% |
| Trade receivables | 40 | €82,724 | €81,656 | -€1,069 | -1.3% |
| Cash at bank and in hand | 54/58 | €30,627 | €13,141 | -€17,486 | -57.1% |
| Total equity and liabilities | 10/49 | €443,017 | €454,913 | +€11,897 | +2.7% |
| Equity | 10/15 | €197,305 | €165,281 | -€32,025 | -16.2% |
| Contributions | 10/11 | €118,600 | €118,600 | = | 0.0% |
| Revaluation surpluses | 12 | €19,857 | €19,857 | = | 0.0% |
| Reserves | 13 | €366,860 | €366,860 | = | 0.0% |
| Distributable reserves | 133 | €366,860 | €366,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€308,011 | -€340,036 | -€32,025 | -10.4% |
| Amounts payable | 17/49 | €245,711 | €289,633 | +€43,921 | +17.9% |
| Amounts payable after more than one year | 17 | €29,501 | €63,789 | +€34,288 | +116.2% |
| Financial debts | 170/4 | €29,501 | €63,789 | +€34,288 | +116.2% |
| Amounts payable within one year | 42/48 | €216,211 | €225,843 | +€9,633 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €13,800 | €26,871 | +€13,071 | +94.7% |
| Trade debts | 44 | €59,265 | €70,214 | +€10,949 | +18.5% |
| Suppliers | 440/4 | €59,265 | €70,214 | +€10,949 | +18.5% |
| Taxes, remuneration and social security | 45 | €45,645 | €46,258 | +€613 | +1.3% |
| Taxes | 450/3 | €3,903 | €11,059 | +€7,156 | +183.3% |
| Remuneration and social security | 454/9 | €41,742 | €35,199 | -€6,543 | -15.7% |
| Other amounts payable | 47/48 | €97,500 | €82,500 | -€15,000 | -15.4% |
| Non-recurring operating income | 76A | €2,736 | €6,036 | +€3,301 | +120.7% |
| Remuneration, social security and pensions | 62 | €220,564 | €215,906 | -€4,658 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,148 | €25,933 | -€3,215 | -11.0% |
| Other operating charges | 640/8 | €6,438 | €7,226 | +€788 | +12.2% |
| Non-recurring operating charges | 66A | €1,234 | €2,399 | +€1,164 | +94.3% |
| Gross operating margin | 9900 | €271,244 | €226,470 | -€44,774 | -16.5% |
| Operating profit (loss) | 9901 | €13,859 | -€24,995 | -€38,854 | |
| Financial income | 75/76B | €334 | €501 | +€167 | +50.0% |
| Recurring financial income | 75 | €334 | €501 | +€167 | +50.0% |
| Financial charges | 65/66B | €6,712 | €7,148 | +€436 | +6.5% |
| Recurring financial charges | 65 | €6,712 | €7,148 | +€436 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €7,482 | -€31,641 | -€39,123 | |
| Income taxes | 67/77 | €112 | €383 | +€272 | +243.6% |
| Profit (loss) for the period | 9904 | €7,370 | -€32,025 | -€39,395 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,370 | -€32,025 | -€39,395 |
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 7 October 2026 via checked.be.