REAL: 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.
REAL
Largest movements
- Receivables within one year +€70,156
up €70,156 (+178.4%), from €39,328 to €109,484
of which Trade receivables: +€65,536
- Stocks and contracts -€22,500
down €22,500 (-46.2%), from €48,717 to €26,217
- Cash +€17,701
up €17,701 (+13.8%), from €128,226 to €145,927
mainly Trade debts (+€56,446) and Stocks and contracts (+€22,500)
- Tangible fixed assets -€6,614
down €6,614 (-95.2%), from €6,951 to €337
of which Furniture and vehicles: -€3,803
- Trade debts +€56,446
up €56,446 (+202.6%), from €27,859 to €84,305
- Gross operating margin +€44,267
up €44,267 (+149.1%), from €29,693 to €73,960
- Financial income -€26,445
down €26,445 (-99.3%), from €26,625 to €180
of which Financial income: -€17,820
- Staff costs +€5,754
up €5,754 (+12.4%), from €46,233 to €51,987
- Other operating charges -€5,628
down €5,628 (-80.7%), from €6,971 to €1,343
- Depreciation -€5,166
down €5,166 (-43.9%), from €11,780 to €6,614
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 | €233,457 | €292,200 | +€58,743 | +25.2% |
| Fixed assets | 21/28 | €17,186 | €10,572 | -€6,614 | -38.5% |
| Tangible fixed assets | 22/27 | €6,951 | €337 | -€6,614 | -95.2% |
| Plant, machinery and equipment | 23 | €3,148 | €337 | -€2,811 | -89.3% |
| Furniture and vehicles | 24 | €3,803 | - | -€3,803 | |
| Financial fixed assets | 28 | €10,235 | €10,235 | = | 0.0% |
| Current assets | 29/58 | €216,271 | €281,628 | +€65,357 | +30.2% |
| Stocks and contracts in progress | 3 | €48,717 | €26,217 | -€22,500 | -46.2% |
| Stocks | 30/36 | €48,717 | €26,217 | -€22,500 | -46.2% |
| Amounts receivable within one year | 40/41 | €39,328 | €109,484 | +€70,156 | +178.4% |
| Trade receivables | 40 | €26,869 | €92,405 | +€65,536 | +243.9% |
| Other amounts receivable | 41 | €12,459 | €17,079 | +€4,620 | +37.1% |
| Cash at bank and in hand | 54/58 | €128,226 | €145,927 | +€17,701 | +13.8% |
| Total equity and liabilities | 10/49 | €233,457 | €292,200 | +€58,743 | +25.2% |
| Equity | 10/15 | €186,765 | €187,722 | +€957 | +0.5% |
| Contributions | 10/11 | €12,890 | €12,890 | = | 0.0% |
| Outside capital | 11 | €12,890 | €12,890 | = | 0.0% |
| Other | 1109/19 | €12,890 | €12,890 | = | 0.0% |
| Reserves | 13 | €3,092 | €3,092 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,092 | €1,092 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,092 | €1,092 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €170,783 | €171,740 | +€957 | +0.6% |
| Amounts payable | 17/49 | €46,692 | €104,478 | +€57,786 | +123.8% |
| Amounts payable within one year | 42/48 | €46,692 | €104,478 | +€57,786 | +123.8% |
| Trade debts | 44 | €27,859 | €84,305 | +€56,446 | +202.6% |
| Suppliers | 440/4 | €27,859 | €84,305 | +€56,446 | +202.6% |
| Taxes, remuneration and social security | 45 | €18,833 | €20,173 | +€1,340 | +7.1% |
| Taxes | 450/3 | €3,296 | €3,437 | +€141 | +4.3% |
| Remuneration and social security | 454/9 | €15,537 | €16,736 | +€1,199 | +7.7% |
| Remuneration, social security and pensions | 62 | €46,233 | €51,987 | +€5,754 | +12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,780 | €6,614 | -€5,166 | -43.9% |
| Other operating charges | 640/8 | €6,971 | €1,343 | -€5,628 | -80.7% |
| Gross operating margin | 9900 | €29,693 | €73,960 | +€44,267 | +149.1% |
| Operating profit (loss) | 9901 | -€35,291 | €14,016 | +€49,307 | |
| Financial income | 75/76B | €26,625 | €180 | -€26,445 | -99.3% |
| Recurring financial income | 75 | €18,000 | €180 | -€17,820 | -99.0% |
| Non-recurring financial income | 76B | €8,625 | €180 | -€8,445 | -97.9% |
| Financial charges | 65/66B | €51 | €47 | -€4 | -7.8% |
| Recurring financial charges | 65 | €51 | €47 | -€4 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | -€8,717 | €14,149 | +€22,866 | |
| Income taxes | 67/77 | €17,158 | €13,192 | -€3,966 | -23.1% |
| Profit (loss) for the period | 9904 | -€25,875 | €957 | +€26,832 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,875 | €957 | +€26,832 |
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 30 September 2026 via checked.be.