re-work: 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.
re-work
Largest movements
- Cash +€60,274
up €60,274 (+30.7%), from €196,358 to €256,632
mainly Net result for the year (+€63,593) and Depreciation (+€10,685)
- Tangible fixed assets -€10,685
down €10,685 (-33.0%), from €32,385 to €21,700
of which Leasing and similar rights: -€10,381
- Receivables within one year -€5,820
down €5,820 (-33.4%), from €17,424 to €11,604
- Reserves +€63,593
up €63,593 (+44.5%), from €142,821 to €206,414
- Debts after one year -€10,112
down €10,112 (-43.3%), from €23,330 to €13,218
- Tax, wage and social debts -€4,759
down €4,759 (-12.1%), from €39,183 to €34,425
of which Taxes: -€6,010
- Other debts -€4,451
down €4,451 (-46.3%), from €9,610 to €5,160
- Gross operating margin -€5,362
down €5,362 (-5.4%), from €98,831 to €93,469
- Other operating charges -€2,948
down €2,948 (-65.3%), from €4,513 to €1,565
- Financial charges -€1,442
down €1,442 (-72.2%), from €1,997 to €556
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 | €247,267 | €292,289 | +€45,022 | +18.2% |
| Fixed assets | 21/28 | €32,385 | €21,700 | -€10,685 | -33.0% |
| Tangible fixed assets | 22/27 | €32,385 | €21,700 | -€10,685 | -33.0% |
| Plant, machinery and equipment | 23 | €304 | €0 | -€304 | -100.0% |
| Leasing and similar rights | 25 | €32,081 | €21,700 | -€10,381 | -32.4% |
| Current assets | 29/58 | €214,882 | €270,589 | +€55,706 | +25.9% |
| Amounts receivable within one year | 40/41 | €17,424 | €11,604 | -€5,820 | -33.4% |
| Trade receivables | 40 | €17,424 | €11,604 | -€5,820 | -33.4% |
| Cash at bank and in hand | 54/58 | €196,358 | €256,632 | +€60,274 | +30.7% |
| Deferred charges and accrued income | 490/1 | €1,100 | €2,353 | +€1,253 | +113.9% |
| Total equity and liabilities | 10/49 | €247,267 | €292,289 | +€45,022 | +18.2% |
| Equity | 10/15 | €160,821 | €224,414 | +€63,593 | +39.5% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €142,821 | €206,414 | +€63,593 | +44.5% |
| Distributable reserves | 133 | €142,821 | €206,414 | +€63,593 | +44.5% |
| Amounts payable | 17/49 | €86,446 | €67,875 | -€18,571 | -21.5% |
| Amounts payable after more than one year | 17 | €23,330 | €13,218 | -€10,112 | -43.3% |
| Financial debts | 170/4 | €23,330 | €13,218 | -€10,112 | -43.3% |
| Amounts payable within one year | 42/48 | €60,616 | €52,157 | -€8,459 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €9,949 | €10,112 | +€163 | +1.6% |
| Trade debts | 44 | €1,873 | €2,460 | +€587 | +31.4% |
| Suppliers | 440/4 | €1,873 | €2,460 | +€587 | +31.4% |
| Taxes, remuneration and social security | 45 | €39,183 | €34,425 | -€4,759 | -12.1% |
| Taxes | 450/3 | €39,183 | €33,173 | -€6,010 | -15.3% |
| Remuneration and social security | 454/9 | - | €1,251 | +€1,251 | |
| Other amounts payable | 47/48 | €9,610 | €5,160 | -€4,451 | -46.3% |
| Accrued charges and deferred income | 492/3 | €2,500 | €2,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,868 | €10,685 | -€183 | -1.7% |
| Other operating charges | 640/8 | €4,513 | €1,565 | -€2,948 | -65.3% |
| Gross operating margin | 9900 | €98,831 | €93,469 | -€5,362 | -5.4% |
| Operating profit (loss) | 9901 | €83,450 | €81,219 | -€2,231 | -2.7% |
| Financial income | 75/76B | €3 | €0 | -€3 | -97.1% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -97.1% |
| Financial charges | 65/66B | €1,997 | €556 | -€1,442 | -72.2% |
| Recurring financial charges | 65 | €1,997 | €556 | -€1,442 | -72.2% |
| Profit (loss) for the period before taxes | 9903 | €81,456 | €80,663 | -€792 | -1.0% |
| Income taxes | 67/77 | €16,465 | €17,070 | +€606 | +3.7% |
| Profit (loss) for the period | 9904 | €64,991 | €63,593 | -€1,398 | -2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €64,991 | €63,593 | -€1,398 | -2.2% |
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 4 October 2026 via checked.be.