REFERENCE EXTERIEUR: what changed
Two financial 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.
REFERENCE EXTERIEUR
Largest movements
- Cash -€55,027
down €55,027 (-31.2%), from €176,483 to €121,457
mainly Investment in fixed assets (net) (-€121,837) and Trade debts (-€80,357)
- Tangible fixed assets +€9,291
up €9,291 (+1.8%), from €517,087 to €526,378
of which Furniture and vehicles: +€25,807
- Trade debts -€80,357
down €80,357 (-47.8%), from €168,175 to €87,818
- Current portion of long-term debt +€30,294
up €30,294 (+42.0%), from €72,164 to €102,458
- Profit (loss) carried forward +€16,422
up €16,422 (+10.9%), from €151,283 to €167,705
- Staff costs +€100,385
up €100,385 (+41.0%), from €244,806 to €345,191
- Gross operating margin +€90,255
up €90,255 (+19.7%), from €459,173 to €549,428
- Depreciation +€26,985
up €26,985 (+31.4%), from €85,818 to €112,804
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.
Derived cash bridge
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 | €869,260 | €824,246 | -€45,014 | -5.2% |
| Formation expenses | 20 | €354 | €97 | -€258 | -72.7% |
| Fixed assets | 21/28 | €517,087 | €526,378 | +€9,291 | +1.8% |
| Tangible fixed assets | 22/27 | €517,087 | €526,378 | +€9,291 | +1.8% |
| Land and buildings | 22 | €134,227 | €128,114 | -€6,113 | -4.6% |
| Plant, machinery and equipment | 23 | €3,234 | €6,149 | +€2,915 | +90.1% |
| Furniture and vehicles | 24 | €27,099 | €52,905 | +€25,807 | +95.2% |
| Leasing and similar rights | 25 | €352,527 | €339,210 | -€13,317 | -3.8% |
| Current assets | 29/58 | €351,819 | €297,771 | -€54,047 | -15.4% |
| Amounts receivable within one year | 40/41 | €172,184 | €172,214 | +€30 | 0.0% |
| Trade receivables | 40 | €85,624 | €106,438 | +€20,814 | +24.3% |
| Other amounts receivable | 41 | €86,560 | €65,777 | -€20,784 | -24.0% |
| Cash at bank and in hand | 54/58 | €176,483 | €121,457 | -€55,027 | -31.2% |
| Deferred charges and accrued income | 490/1 | €3,151 | €4,100 | +€950 | +30.1% |
| Total equity and liabilities | 10/49 | €869,260 | €824,246 | -€45,014 | -5.2% |
| Equity | 10/15 | €156,283 | €172,705 | +€16,422 | +10.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €151,283 | €167,705 | +€16,422 | +10.9% |
| Amounts payable | 17/49 | €712,977 | €651,542 | -€61,436 | -8.6% |
| Amounts payable after more than one year | 17 | €363,229 | €358,517 | -€4,712 | -1.3% |
| Financial debts | 170/4 | €363,229 | €358,517 | -€4,712 | -1.3% |
| Amounts payable within one year | 42/48 | €349,749 | €293,025 | -€56,724 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €72,164 | €102,458 | +€30,294 | +42.0% |
| Trade debts | 44 | €168,175 | €87,818 | -€80,357 | -47.8% |
| Suppliers | 440/4 | €168,175 | €87,818 | -€80,357 | -47.8% |
| Taxes, remuneration and social security | 45 | €69,757 | €62,972 | -€6,786 | -9.7% |
| Taxes | 450/3 | €49,602 | €25,050 | -€24,552 | -49.5% |
| Remuneration and social security | 454/9 | €20,156 | €37,922 | +€17,766 | +88.1% |
| Other amounts payable | 47/48 | €39,653 | €39,778 | +€125 | +0.3% |
| Remuneration, social security and pensions | 62 | €244,806 | €345,191 | +€100,385 | +41.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,818 | €112,804 | +€26,985 | +31.4% |
| Other operating charges | 640/8 | €6,390 | €6,690 | +€300 | +4.7% |
| Gross operating margin | 9900 | €459,173 | €549,428 | +€90,255 | +19.7% |
| Operating profit (loss) | 9901 | €122,158 | €84,743 | -€37,415 | -30.6% |
| Financial charges | 65/66B | €15,493 | €19,096 | +€3,603 | +23.3% |
| Recurring financial charges | 65 | €15,493 | €19,096 | +€3,603 | +23.3% |
| Profit (loss) for the period before taxes | 9903 | €106,665 | €65,647 | -€41,018 | -38.5% |
| Income taxes | 67/77 | €19,605 | €14,225 | -€5,380 | -27.4% |
| Profit (loss) for the period | 9904 | €87,060 | €51,422 | -€35,639 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €87,060 | €51,422 | -€35,639 | -40.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.