RELIEFS: 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.
RELIEFS
Largest movements
- Cash +€110,888
up €110,888 (+105.5%), from €105,096 to €215,984
mainly Accrued charges and deferred income (+€191,500) and Net result for the year (+€41,538)
- Receivables within one year +€103,839
up €103,839 (+282.4%), from €36,774 to €140,613
of which Trade receivables: +€103,921
- Accrued charges and deferred income +€191,500
new in 2025: €191,500
- Profit (loss) carried forward +€41,538
up €41,538 (+53.0%), from €78,380 to €119,918
- Provisions -€35,209
no longer reported in 2025 (was €35,209)
- Trade debts +€14,554
up €14,554 (+12.1%), from €119,849 to €134,403
- Tax, wage and social debts +€10,614
up €10,614 (+22.1%), from €48,022 to €58,636
of which Taxes: +€12,473
- Provisions -€70,418
down €70,418, from €35,209 to -€35,209
- Write-downs +€54,126
new in 2025: €54,126
- Staff costs +€35,646
up €35,646 (+260.6%), from €13,677 to €49,323
- Gross operating margin +€27,206
up €27,206 (+23.3%), from €116,611 to €143,816
- Other operating charges -€2,349
down €2,349 (-58.3%), from €4,030 to €1,681
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 | €341,248 | €559,154 | +€217,907 | +63.9% |
| Fixed assets | 21/28 | €27,886 | €28,236 | +€350 | +1.3% |
| Tangible fixed assets | 22/27 | €25,577 | €25,928 | +€350 | +1.4% |
| Plant, machinery and equipment | 23 | €4,910 | €2,817 | -€2,093 | -42.6% |
| Furniture and vehicles | 24 | €6,500 | €7,600 | +€1,100 | +16.9% |
| Other tangible fixed assets | 26 | €14,168 | €15,511 | +€1,343 | +9.5% |
| Financial fixed assets | 28 | €2,308 | €2,308 | = | 0.0% |
| Current assets | 29/58 | €313,362 | €530,918 | +€217,556 | +69.4% |
| Amounts receivable after more than one year | 29 | €144,627 | €148,527 | +€3,900 | +2.7% |
| Other amounts receivable | 291 | €144,627 | €148,527 | +€3,900 | +2.7% |
| Amounts receivable within one year | 40/41 | €36,774 | €140,613 | +€103,839 | +282.4% |
| Trade receivables | 40 | €36,352 | €140,273 | +€103,921 | +285.9% |
| Other amounts receivable | 41 | €422 | €340 | -€82 | -19.5% |
| Cash at bank and in hand | 54/58 | €105,096 | €215,984 | +€110,888 | +105.5% |
| Deferred charges and accrued income | 490/1 | €26,865 | €25,794 | -€1,071 | -4.0% |
| Total equity and liabilities | 10/49 | €341,248 | €559,154 | +€217,907 | +63.9% |
| Equity | 10/15 | €86,440 | €127,978 | +€41,538 | +48.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €78,380 | €119,918 | +€41,538 | +53.0% |
| Provisions and deferred taxes | 16 | €35,209 | - | -€35,209 | |
| Provisions for liabilities and charges | 160/5 | €35,209 | - | -€35,209 | |
| Major repairs and maintenance | 162 | €35,209 | - | -€35,209 | |
| Amounts payable | 17/49 | €219,599 | €431,176 | +€211,578 | +96.3% |
| Amounts payable after more than one year | 17 | €44,909 | €39,972 | -€4,937 | -11.0% |
| Financial debts | 170/4 | €44,909 | €39,972 | -€4,937 | -11.0% |
| Amounts payable within one year | 42/48 | €174,689 | €199,704 | +€25,015 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €5,280 | €5,350 | +€70 | +1.3% |
| Trade debts | 44 | €119,849 | €134,403 | +€14,554 | +12.1% |
| Suppliers | 440/4 | €119,849 | €134,403 | +€14,554 | +12.1% |
| Taxes, remuneration and social security | 45 | €48,022 | €58,636 | +€10,614 | +22.1% |
| Taxes | 450/3 | €44,794 | €57,266 | +€12,473 | +27.8% |
| Remuneration and social security | 454/9 | €3,228 | €1,369 | -€1,859 | -57.6% |
| Other amounts payable | 47/48 | €1,539 | €1,316 | -€223 | -14.5% |
| Accrued charges and deferred income | 492/3 | - | €191,500 | +€191,500 | |
| Remuneration, social security and pensions | 62 | €13,677 | €49,323 | +€35,646 | +260.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,322 | €8,697 | +€1,375 | +18.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €54,126 | +€54,126 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €35,209 | -€35,209 | -€70,418 | |
| Other operating charges | 640/8 | €4,030 | €1,681 | -€2,349 | -58.3% |
| Non-recurring operating charges | 66A | - | €3,300 | +€3,300 | |
| Gross operating margin | 9900 | €116,611 | €143,816 | +€27,206 | +23.3% |
| Operating profit (loss) | 9901 | €56,373 | €61,898 | +€5,525 | +9.8% |
| Financial income | 75/76B | €3,631 | €3,758 | +€127 | +3.5% |
| Recurring financial income | 75 | €3,631 | €3,758 | +€127 | +3.5% |
| Financial charges | 65/66B | €3,650 | €4,203 | +€553 | +15.1% |
| Recurring financial charges | 65 | €3,650 | €4,203 | +€553 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €56,354 | €61,453 | +€5,099 | +9.0% |
| Income taxes | 67/77 | €17,711 | €19,915 | +€2,204 | +12.4% |
| Profit (loss) for the period | 9904 | €38,643 | €41,538 | +€2,895 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,643 | €41,538 | +€2,895 | +7.5% |
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 11 October 2026 via checked.be.