Sector C: 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.
Sector C
Largest movements
- Receivables after one year +€66,000
new in 2025: €66,000
- Tangible fixed assets -€21,677
down €21,677 (-58.5%), from €37,041 to €15,363
of which Plant, machinery and equipment: -€24,197
- Reserves +€83,510
up €83,510 (+38.4%), from €217,532 to €301,042
- Debts after one year -€20,843
down €20,843 (-46.8%), from €44,569 to €23,726
- Current portion of long-term debt -€14,452
down €14,452 (-39.1%), from €36,988 to €22,536
- Trade debts -€8,193
down €8,193 (-83.2%), from €9,843 to €1,650
- Tax, wage and social debts +€4,691
up €4,691 (+50.6%), from €9,275 to €13,966
- Gross operating margin +€49,227
up €49,227 (+46.8%), from €105,255 to €154,482
- Taxes +€12,764
up €12,764 (+70.5%), from €18,101 to €30,865
- Depreciation -€5,860
down €5,860 (-17.8%), from €32,951 to €27,091
- Financial charges +€3,252
up €3,252 (+45.3%), from €7,171 to €10,423
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 | €349,252 | €390,998 | +€41,746 | +12.0% |
| Fixed assets | 21/28 | €37,791 | €16,113 | -€21,677 | -57.4% |
| Tangible fixed assets | 22/27 | €37,041 | €15,363 | -€21,677 | -58.5% |
| Plant, machinery and equipment | 23 | €32,021 | €7,825 | -€24,197 | -75.6% |
| Furniture and vehicles | 24 | €5,019 | €7,539 | +€2,519 | +50.2% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €311,462 | €374,885 | +€63,423 | +20.4% |
| Amounts receivable after more than one year | 29 | - | €66,000 | +€66,000 | |
| Other amounts receivable | 291 | - | €66,000 | +€66,000 | |
| Amounts receivable within one year | 40/41 | €49,336 | €46,644 | -€2,692 | -5.5% |
| Trade receivables | 40 | €44,218 | €39,783 | -€4,435 | -10.0% |
| Other amounts receivable | 41 | €5,118 | €6,861 | +€1,742 | +34.0% |
| Cash at bank and in hand | 54/58 | €259,029 | €258,269 | -€760 | -0.3% |
| Deferred charges and accrued income | 490/1 | €3,096 | €3,972 | +€876 | +28.3% |
| Total equity and liabilities | 10/49 | €349,252 | €390,998 | +€41,746 | +12.0% |
| Equity | 10/15 | €232,532 | €316,042 | +€83,510 | +35.9% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €217,532 | €301,042 | +€83,510 | +38.4% |
| Distributable reserves | 133 | €217,532 | €301,042 | +€83,510 | +38.4% |
| Amounts payable | 17/49 | €116,720 | €74,956 | -€41,764 | -35.8% |
| Amounts payable after more than one year | 17 | €44,569 | €23,726 | -€20,843 | -46.8% |
| Financial debts | 170/4 | €44,569 | €23,726 | -€20,843 | -46.8% |
| Amounts payable within one year | 42/48 | €72,057 | €51,230 | -€20,827 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €36,988 | €22,536 | -€14,452 | -39.1% |
| Trade debts | 44 | €9,843 | €1,650 | -€8,193 | -83.2% |
| Suppliers | 440/4 | €9,843 | €1,650 | -€8,193 | -83.2% |
| Taxes, remuneration and social security | 45 | €9,275 | €13,966 | +€4,691 | +50.6% |
| Taxes | 450/3 | €9,275 | €13,966 | +€4,691 | +50.6% |
| Other amounts payable | 47/48 | €15,951 | €13,078 | -€2,873 | -18.0% |
| Accrued charges and deferred income | 492/3 | €94 | - | -€94 | |
| Non-recurring operating income | 76A | €8,014 | - | -€8,014 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,951 | €27,091 | -€5,860 | -17.8% |
| Other operating charges | 640/8 | €1,486 | €2,607 | +€1,121 | +75.4% |
| Gross operating margin | 9900 | €105,255 | €154,482 | +€49,227 | +46.8% |
| Operating profit (loss) | 9901 | €70,818 | €124,784 | +€53,966 | +76.2% |
| Financial income | 75/76B | €1 | €14 | +€13 | +2618.0% |
| Recurring financial income | 75 | €1 | €14 | +€13 | +2618.0% |
| Financial charges | 65/66B | €7,171 | €10,423 | +€3,252 | +45.3% |
| Recurring financial charges | 65 | €7,171 | €10,423 | +€3,252 | +45.3% |
| Profit (loss) for the period before taxes | 9903 | €63,648 | €114,375 | +€50,728 | +79.7% |
| Income taxes | 67/77 | €18,101 | €30,865 | +€12,764 | +70.5% |
| Profit (loss) for the period | 9904 | €45,547 | €83,510 | +€37,964 | +83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €45,547 | €83,510 | +€37,964 | +83.4% |
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 10 October 2026 via checked.be.