RECORD: 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.
What changed
RECORD
NACE 46.713, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€282,927
2024 · €207,407+€75,521
Equity
€1.6m
2024 · €1.3m+€282,927
Cash
€126,269
2024 · €160,572-€34,302
Balance sheet total
€3.9m
2024 · €3.1m+€744,115
Largest movements
Assets
- Receivables within one year +€739,951
up €739,951 (+53.0%), from €1.4m to €2.1m
of which Trade receivables: +€735,285
- Stocks and contracts +€40,059
up €40,059 (+3.1%), from €1.3m to €1.3m
Equity and liabilities
- Trade debts +€630,716
up €630,716 (+64.1%), from €984,642 to €1.6m
- Profit (loss) carried forward +€282,927
up €282,927 (+52.4%), from €539,435 to €822,363
- Debts after one year -€87,638
down €87,638 (-49.3%), from €177,734 to €90,096
- Tax, wage and social debts -€42,201
down €42,201 (-23.2%), from €181,707 to €139,506
of which Taxes: -€57,272
- Accrued charges and deferred income -€39,468
down €39,468 (-78.3%), from €50,435 to €10,968
Income statement
- Gross operating margin +€121,942
up €121,942 (+8.8%), from €1.4m to €1.5m
- Staff costs +€41,853
up €41,853 (+4.4%), from €959,993 to €1.0m
- Taxes +€25,421
up €25,421 (+32.7%), from €77,759 to €103,180
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.
Result 2024
€207,407
Gross operating margin
+€121,942
Staff costs
-€41,853
Depreciation
+€9,082
Write-downs
+€453
Other operating charges
-€660
Financial income
-€1,726
Financial charges
+€13,704
Taxes
-€25,421
Result 2025
€282,927
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.
From operations
+€140,658
Investment
-€82,655
Financing
-€92,305
Cash 2024
€160,572
From operations (derived)
+€140,658
Net result for the year
+€282,927
Depreciation
+€79,680
Stocks and contracts
-€40,059
Receivables within one year
-€739,951
Deferred charges and accrued income
+€4,568
Trade debts
+€630,716
Tax, wage and social debts
-€42,201
Other debts
+€4,445
Accrued charges and deferred income
-€39,468
Investment (derived)
-€82,655
Investment in fixed assets (net)
-€82,655
Financing
-€92,305
Debts after one year
-€87,638
Current portion of long-term debt
-€4,667
Cash 2025
€126,269
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,128,004 | €3,872,119 | +€744,115 | +23.8% |
| Fixed assets | 21/28 | €254,584 | €257,559 | +€2,975 | +1.2% |
| Tangible fixed assets | 22/27 | €254,314 | €257,289 | +€2,975 | +1.2% |
| Land and buildings | 22 | €197,396 | €154,766 | -€42,630 | -21.6% |
| Plant, machinery and equipment | 23 | €22,611 | €43,196 | +€20,585 | +91.0% |
| Furniture and vehicles | 24 | €15,545 | €59,327 | +€43,782 | +281.6% |
| Leasing and similar rights | 25 | €18,762 | - | -€18,762 | |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €2,873,419 | €3,614,560 | +€741,140 | +25.8% |
| Stocks and contracts in progress | 3 | €1,301,909 | €1,341,968 | +€40,059 | +3.1% |
| Stocks | 30/36 | €1,301,909 | €1,341,968 | +€40,059 | +3.1% |
| Amounts receivable within one year | 40/41 | €1,396,928 | €2,136,879 | +€739,951 | +53.0% |
| Trade receivables | 40 | €1,395,008 | €2,130,293 | +€735,285 | +52.7% |
| Other amounts receivable | 41 | €1,920 | €6,586 | +€4,666 | +243.0% |
| Cash at bank and in hand | 54/58 | €160,572 | €126,269 | -€34,302 | -21.4% |
| Deferred charges and accrued income | 490/1 | €14,011 | €9,443 | -€4,568 | -32.6% |
| Total equity and liabilities | 10/49 | €3,128,004 | €3,872,119 | +€744,115 | +23.8% |
| Equity | 10/15 | €1,316,799 | €1,599,726 | +€282,927 | +21.5% |
| Contributions | 10/11 | €317,304 | €317,304 | = | 0.0% |
| Reserves | 13 | €460,060 | €460,060 | = | 0.0% |
| Distributable reserves | 133 | €460,060 | €460,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €539,435 | €822,363 | +€282,927 | +52.4% |
| Amounts payable | 17/49 | €1,811,205 | €2,272,393 | +€461,188 | +25.5% |
| Amounts payable after more than one year | 17 | €177,734 | €90,096 | -€87,638 | -49.3% |
| Financial debts | 170/4 | €177,734 | €90,096 | -€87,638 | -49.3% |
| Amounts payable within one year | 42/48 | €1,583,036 | €2,171,329 | +€588,293 | +37.2% |
| Current portion of amounts payable after more than one year | 42 | €395,175 | €390,508 | -€4,667 | -1.2% |
| Trade debts | 44 | €984,642 | €1,615,358 | +€630,716 | +64.1% |
| Suppliers | 440/4 | €984,642 | €1,615,358 | +€630,716 | +64.1% |
| Taxes, remuneration and social security | 45 | €181,707 | €139,506 | -€42,201 | -23.2% |
| Taxes | 450/3 | €115,453 | €58,180 | -€57,272 | -49.6% |
| Remuneration and social security | 454/9 | €66,254 | €81,325 | +€15,072 | +22.7% |
| Other amounts payable | 47/48 | €21,513 | €25,958 | +€4,445 | +20.7% |
| Accrued charges and deferred income | 492/3 | €50,435 | €10,968 | -€39,468 | -78.3% |
| Non-recurring operating income | 76A | - | €4,482 | +€4,482 | |
| Remuneration, social security and pensions | 62 | €959,993 | €1,001,847 | +€41,853 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,762 | €79,680 | -€9,082 | -10.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €453 | - | -€453 | |
| Other operating charges | 640/8 | €14,314 | €14,974 | +€660 | +4.6% |
| Gross operating margin | 9900 | €1,389,829 | €1,511,771 | +€121,942 | +8.8% |
| Operating profit (loss) | 9901 | €326,307 | €415,271 | +€88,964 | +27.3% |
| Financial income | 75/76B | €1,899 | €173 | -€1,726 | -90.9% |
| Recurring financial income | 75 | €1,899 | €173 | -€1,726 | -90.9% |
| Financial charges | 65/66B | €43,040 | €29,336 | -€13,704 | -31.8% |
| Recurring financial charges | 65 | €43,040 | €29,336 | -€13,704 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | €285,166 | €386,108 | +€100,942 | +35.4% |
| Income taxes | 67/77 | €77,759 | €103,180 | +€25,421 | +32.7% |
| Profit (loss) for the period | 9904 | €207,407 | €282,927 | +€75,521 | +36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €207,407 | €282,927 | +€75,521 | +36.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.