SAYIN'S: what changed
SAYIN'S
Largest movements
- Cash +€25,697
up €25,697 (+29.3%), from €87,574 to €113,272
mainly Current portion of long-term debt (+€105,089) and Net result for the year (+€100,096)
- Deferred charges and accrued income +€24,217
new in 2025: €24,217
- Receivables within one year -€18,234
down €18,234 (-1.6%), from €1.1m to €1.1m
of which Other amounts receivable: -€247,675
- Tangible fixed assets -€18,059
down €18,059 (-5.4%), from €332,616 to €314,557
of which Furniture and vehicles: -€9,195
- Trade debts -€215,125
down €215,125 (-58.7%), from €366,277 to €151,152
- Current portion of long-term debt +€105,089
up €105,089 (+821%), from €12,793 to €117,882
- Profit (loss) carried forward +€100,096
up €100,096 (+14.3%), from €700,533 to €800,629
- Debts after one year +€88,473
up €88,473 (+39.9%), from €221,911 to €310,384
- Tax, wage and social debts -€72,456
down €72,456 (-31.8%), from €227,848 to €155,392
of which Remuneration and social security: -€62,234
- Gross operating margin +€367,257
up €367,257 (+37.9%), from €970,077 to €1.3m
- Staff costs +€240,748
up €240,748 (+29.9%), from €804,053 to €1.0m
- Financial charges +€73,858
up €73,858 (+559%), from €13,211 to €87,070
- Taxes +€15,543
up €15,543 (+36.7%), from €42,309 to €57,852
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,553,883 | €1,567,503 | +€13,621 | +0.9% |
| Fixed assets | 21/28 | €342,026 | €323,967 | -€18,059 | -5.3% |
| Tangible fixed assets | 22/27 | €332,616 | €314,557 | -€18,059 | -5.4% |
| Land and buildings | 22 | €284,404 | €275,540 | -€8,864 | -3.1% |
| Furniture and vehicles | 24 | €48,212 | €39,017 | -€9,195 | -19.1% |
| Financial fixed assets | 28 | €9,410 | €9,410 | = | 0.0% |
| Current assets | 29/58 | €1,211,856 | €1,243,536 | +€31,680 | +2.6% |
| Amounts receivable within one year | 40/41 | €1,124,282 | €1,106,048 | -€18,234 | -1.6% |
| Trade receivables | 40 | €848,361 | €1,077,802 | +€229,441 | +27.0% |
| Other amounts receivable | 41 | €275,921 | €28,246 | -€247,675 | -89.8% |
| Cash at bank and in hand | 54/58 | €87,574 | €113,272 | +€25,697 | +29.3% |
| Deferred charges and accrued income | 490/1 | - | €24,217 | +€24,217 | |
| Total equity and liabilities | 10/49 | €1,553,883 | €1,567,503 | +€13,621 | +0.9% |
| Equity | 10/15 | €721,897 | €821,993 | +€100,096 | +13.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €903 | €903 | = | 0.0% |
| Distributable reserves | 133 | €903 | €903 | = | 0.0% |
| Profit (loss) carried forward | 14 | €700,533 | €800,629 | +€100,096 | +14.3% |
| Amounts payable | 17/49 | €831,986 | €745,510 | -€86,476 | -10.4% |
| Amounts payable after more than one year | 17 | €221,911 | €310,384 | +€88,473 | +39.9% |
| Financial debts | 170/4 | €221,911 | €310,384 | +€88,473 | +39.9% |
| Amounts payable within one year | 42/48 | €606,918 | €435,127 | -€171,792 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €12,793 | €117,882 | +€105,089 | +821% |
| Financial debts | 43 | - | €9,737 | +€9,737 | |
| Credit institutions | 430/8 | - | €9,737 | +€9,737 | |
| Trade debts | 44 | €366,277 | €151,152 | -€215,125 | -58.7% |
| Suppliers | 440/4 | €366,277 | €151,152 | -€215,125 | -58.7% |
| Taxes, remuneration and social security | 45 | €227,848 | €155,392 | -€72,456 | -31.8% |
| Taxes | 450/3 | €115,783 | €105,561 | -€10,222 | -8.8% |
| Remuneration and social security | 454/9 | €112,065 | €49,831 | -€62,234 | -55.5% |
| Other amounts payable | 47/48 | - | €964 | +€964 | |
| Accrued charges and deferred income | 492/3 | €3,157 | - | -€3,157 | |
| Remuneration, social security and pensions | 62 | €804,053 | €1,044,801 | +€240,748 | +29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,524 | €24,906 | +€9,382 | +60.4% |
| Other operating charges | 640/8 | €12,740 | €22,609 | +€9,869 | +77.5% |
| Gross operating margin | 9900 | €970,077 | €1,337,334 | +€367,257 | +37.9% |
| Operating profit (loss) | 9901 | €137,759 | €245,018 | +€107,259 | +77.9% |
| Financial income | 75/76B | €94 | - | -€94 | |
| Recurring financial income | 75 | €94 | - | -€94 | |
| Financial charges | 65/66B | €13,211 | €87,070 | +€73,858 | +559% |
| Recurring financial charges | 65 | €13,211 | €87,070 | +€73,858 | +559% |
| Profit (loss) for the period before taxes | 9903 | €124,642 | €157,948 | +€33,306 | +26.7% |
| Income taxes | 67/77 | €42,309 | €57,852 | +€15,543 | +36.7% |
| Profit (loss) for the period | 9904 | €82,333 | €100,096 | +€17,763 | +21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €82,333 | €100,096 | +€17,763 | +21.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.