Resulation Belgium: 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.
Resulation Belgium
Largest movements
- Cash -€452,440
no longer reported in 2025 (was €452,440)
mainly Trade debts (-€1.2m) and Stocks and contracts (-€112,393)
- Receivables within one year -€341,174
down €341,174 (-22.7%), from €1.5m to €1.2m
of which Other amounts receivable: -€658,694
- Stocks and contracts +€112,393
up €112,393 (+25.9%), from €434,196 to €546,589
- Intangible fixed assets -€63,000
down €63,000 (-25.0%), from €252,000 to €189,000
- Trade debts -€1.2m
down €1.2m (-58.7%), from €2.1m to €864,927
- Tax, wage and social debts +€212,610
up €212,610 (+141%), from €150,321 to €362,931
of which Taxes: +€189,274
- Short-term financial debts +€177,759
new in 2025: €177,759
- Profit (loss) carried forward +€79,007
up €79,007 (+1.6%), from -€5.0m to -€4.9m
- Gross operating margin +€1.5m
up €1.5m (+1,560%), from €96,382 to €1.6m
- Other operating charges +€446,851
up €446,851 (+299,799%), from €149 to €447,000
- Staff costs +€127,563
up €127,563 (+15.0%), from €852,963 to €980,526
- Financial income -€24,088
down €24,088 (-82.7%), from €29,118 to €5,031
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 | €2,739,975 | €1,978,938 | -€761,037 | -27.8% |
| Fixed assets | 21/28 | €340,010 | €268,534 | -€71,476 | -21.0% |
| Intangible fixed assets | 21 | €252,000 | €189,000 | -€63,000 | -25.0% |
| Tangible fixed assets | 22/27 | €88,010 | €79,534 | -€8,476 | -9.6% |
| Plant, machinery and equipment | 23 | - | €60,874 | +€60,874 | |
| Other tangible fixed assets | 26 | €8,724 | €18,660 | +€9,936 | +114% |
| Assets under construction and advance payments | 27 | €79,286 | - | -€79,286 | |
| Current assets | 29/58 | €2,399,965 | €1,710,404 | -€689,561 | -28.7% |
| Stocks and contracts in progress | 3 | €434,196 | €546,589 | +€112,393 | +25.9% |
| Stocks | 30/36 | €434,196 | €546,589 | +€112,393 | +25.9% |
| Amounts receivable within one year | 40/41 | €1,504,989 | €1,163,815 | -€341,174 | -22.7% |
| Trade receivables | 40 | €720,240 | €1,037,760 | +€317,520 | +44.1% |
| Other amounts receivable | 41 | €784,749 | €126,055 | -€658,694 | -83.9% |
| Cash at bank and in hand | 54/58 | €452,440 | - | -€452,440 | |
| Deferred charges and accrued income | 490/1 | €8,340 | - | -€8,340 | |
| Total equity and liabilities | 10/49 | €2,739,975 | €1,978,938 | -€761,037 | -27.8% |
| Equity | 10/15 | €494,314 | €573,321 | +€79,007 | +16.0% |
| Contributions | 10/11 | €5,500,000 | €5,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,005,686 | -€4,926,679 | +€79,007 | +1.6% |
| Amounts payable | 17/49 | €2,245,661 | €1,405,617 | -€840,044 | -37.4% |
| Amounts payable within one year | 42/48 | €2,245,661 | €1,405,617 | -€840,044 | -37.4% |
| Financial debts | 43 | - | €177,759 | +€177,759 | |
| Other loans | 439 | - | €177,759 | +€177,759 | |
| Trade debts | 44 | €2,095,341 | €864,927 | -€1.2m | -58.7% |
| Suppliers | 440/4 | €2,095,341 | €864,927 | -€1.2m | -58.7% |
| Taxes, remuneration and social security | 45 | €150,321 | €362,931 | +€212,610 | +141% |
| Taxes | 450/3 | €24,960 | €214,234 | +€189,274 | +758% |
| Remuneration and social security | 454/9 | €125,361 | €148,697 | +€23,336 | +18.6% |
| Remuneration, social security and pensions | 62 | €852,963 | €980,526 | +€127,563 | +15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,903 | €77,403 | +€13,500 | +21.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €14,046 | +€14,046 | |
| Other operating charges | 640/8 | €149 | €447,000 | +€446,851 | +299,799% |
| Gross operating margin | 9900 | €96,382 | €1,599,918 | +€1.5m | +1,560% |
| Operating profit (loss) | 9901 | -€820,633 | €80,944 | +€901,577 | |
| Financial income | 75/76B | €29,118 | €5,031 | -€24,088 | -82.7% |
| Recurring financial income | 75 | €29,118 | €5,031 | -€24,088 | -82.7% |
| Financial charges | 65/66B | €4,333 | €6,034 | +€1,701 | +39.3% |
| Recurring financial charges | 65 | €4,333 | €6,034 | +€1,701 | +39.3% |
| Profit (loss) for the period before taxes | 9903 | -€795,848 | €79,940 | +€875,788 | |
| Income taxes | 67/77 | €567 | €933 | +€366 | +64.5% |
| Profit (loss) for the period | 9904 | -€796,415 | €79,007 | +€875,422 | |
| Profit (loss) for the period to be appropriated | 9905 | -€796,415 | €79,007 | +€875,422 |
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 30 October 2026 via checked.be.