R & P: 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.
R & P
Largest movements
- Tangible fixed assets +€14,157
up €14,157 (+13.6%), from €103,715 to €117,872
of which Land and buildings: +€14,214
- Receivables within one year -€10,455
down €10,455 (-66.8%), from €15,658 to €5,202
of which Other amounts receivable: -€5,715
- Deferred charges and accrued income -€2,334
down €2,334 (-24.0%), from €9,729 to €7,395
- Trade debts -€19,372
down €19,372 (-94.6%), from €20,468 to €1,095
- Profit (loss) carried forward +€12,860
up €12,860 (+26.9%), from -€47,752 to -€34,891
- Other debts +€12,247
up €12,247 (+18.2%), from €67,224 to €79,471
- Tax, wage and social debts -€3,121
down €3,121 (-90.7%), from €3,441 to €320
of which Remuneration and social security: -€1,812
- Gross operating margin +€35,858
up €35,858 (+48.8%), from €73,413 to €109,271
- Staff costs +€11,274
up €11,274 (+19.1%), from €58,927 to €70,202
- Depreciation +€1,889
up €1,889 (+11.0%), from €17,219 to €19,108
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 | €170,714 | €173,328 | +€2,614 | +1.5% |
| Fixed assets | 21/28 | €104,024 | €118,181 | +€14,157 | +13.6% |
| Tangible fixed assets | 22/27 | €103,715 | €117,872 | +€14,157 | +13.6% |
| Land and buildings | 22 | €74,188 | €88,402 | +€14,214 | +19.2% |
| Plant, machinery and equipment | 23 | €10,780 | €6,717 | -€4,064 | -37.7% |
| Furniture and vehicles | 24 | €18,747 | €22,754 | +€4,007 | +21.4% |
| Financial fixed assets | 28 | €309 | €309 | = | 0.0% |
| Current assets | 29/58 | €66,690 | €55,147 | -€11,543 | -17.3% |
| Stocks and contracts in progress | 3 | €18,064 | €18,187 | +€123 | +0.7% |
| Stocks | 30/36 | €11,464 | €11,687 | +€223 | +1.9% |
| Contracts in progress | 37 | €6,600 | €6,500 | -€100 | -1.5% |
| Amounts receivable within one year | 40/41 | €15,658 | €5,202 | -€10,455 | -66.8% |
| Trade receivables | 40 | €4,740 | - | -€4,740 | |
| Other amounts receivable | 41 | €10,917 | €5,202 | -€5,715 | -52.3% |
| Cash at bank and in hand | 54/58 | €23,239 | €24,362 | +€1,123 | +4.8% |
| Deferred charges and accrued income | 490/1 | €9,729 | €7,395 | -€2,334 | -24.0% |
| Total equity and liabilities | 10/49 | €170,714 | €173,328 | +€2,614 | +1.5% |
| Equity | 10/15 | €79,581 | €92,442 | +€12,860 | +16.2% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €108,333 | €108,333 | = | 0.0% |
| Distributable reserves | 133 | €108,333 | €108,333 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,752 | -€34,891 | +€12,860 | +26.9% |
| Amounts payable | 17/49 | €91,132 | €80,886 | -€10,246 | -11.2% |
| Amounts payable within one year | 42/48 | €91,132 | €80,886 | -€10,246 | -11.2% |
| Trade debts | 44 | €20,468 | €1,095 | -€19,372 | -94.6% |
| Suppliers | 440/4 | €20,468 | €1,095 | -€19,372 | -94.6% |
| Taxes, remuneration and social security | 45 | €3,441 | €320 | -€3,121 | -90.7% |
| Taxes | 450/3 | €1,629 | €320 | -€1,309 | -80.3% |
| Remuneration and social security | 454/9 | €1,812 | - | -€1,812 | |
| Other amounts payable | 47/48 | €67,224 | €79,471 | +€12,247 | +18.2% |
| Remuneration, social security and pensions | 62 | €58,927 | €70,202 | +€11,274 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,219 | €19,108 | +€1,889 | +11.0% |
| Other operating charges | 640/8 | €7,468 | €6,584 | -€884 | -11.8% |
| Gross operating margin | 9900 | €73,413 | €109,271 | +€35,858 | +48.8% |
| Operating profit (loss) | 9901 | -€10,201 | €13,378 | +€23,579 | |
| Financial income | 75/76B | €52 | €1 | -€50 | -97.4% |
| Recurring financial income | 75 | €52 | €1 | -€50 | -97.4% |
| Financial charges | 65/66B | €363 | €198 | -€164 | -45.3% |
| Recurring financial charges | 65 | €363 | €198 | -€164 | -45.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,512 | €13,181 | +€23,693 | |
| Income taxes | 67/77 | €333 | €320 | -€13 | -3.8% |
| Profit (loss) for the period | 9904 | -€10,845 | €12,860 | +€23,705 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,845 | €12,860 | +€23,705 |
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 4 October 2026 via checked.be.