SECURITY INFOR: 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.
SECURITY INFOR
Largest movements
- Tangible fixed assets -€120,466
down €120,466 (-24.5%), from €491,496 to €371,031
of which Land and buildings: -€123,080
- Receivables within one year +€58,630
up €58,630 (+10.8%), from €541,367 to €599,997
of which Other amounts receivable: +€37,380
- Deferred charges and accrued income +€22,916
up €22,916 (+140.4%), from €16,327 to €39,242
- Reserves +€118,161
up €118,161 (+15.0%), from €785,557 to €903,718
- Profit (loss) carried forward -€104,929
down €104,929 (-100.0%), from €104,929 to €0
- Other debts -€92,335
down €92,335 (-33.5%), from €275,580 to €183,245
- Trade debts +€64,954
up €64,954 (+247.9%), from €26,197 to €91,151
of which Suppliers: +€54,780
- Current portion of long-term debt -€47,309
no longer reported in 2025 (was €47,309)
- Gross operating margin -€283,466
down €283,466 (-24.6%), from €1.2m to €866,545
- Financial income +€59,749
up €59,749 (+1210.6%), from €4,935 to €64,684
of which Non-recurring financial income: +€62,994
- Taxes -€59,045
down €59,045 (-37.4%), from €157,718 to €98,673
- Staff costs -€33,222
down €33,222 (-6.1%), from €546,666 to €513,444
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 | €1,496,199 | €1,468,787 | -€27,412 | -1.8% |
| Fixed assets | 21/28 | €495,027 | €372,895 | -€122,132 | -24.7% |
| Intangible fixed assets | 21 | €3,283 | €1,616 | -€1,667 | -50.8% |
| Tangible fixed assets | 22/27 | €491,496 | €371,031 | -€120,466 | -24.5% |
| Land and buildings | 22 | €289,639 | €166,559 | -€123,080 | -42.5% |
| Plant, machinery and equipment | 23 | €123,876 | €114,512 | -€9,364 | -7.6% |
| Furniture and vehicles | 24 | €77,981 | €89,959 | +€11,978 | +15.4% |
| Financial fixed assets | 28 | €248 | €248 | = | 0.0% |
| Current assets | 29/58 | €1,001,171 | €1,095,892 | +€94,720 | +9.5% |
| Stocks and contracts in progress | 3 | €51,257 | €54,739 | +€3,482 | +6.8% |
| Stocks | 30/36 | €51,257 | €54,739 | +€3,482 | +6.8% |
| Amounts receivable within one year | 40/41 | €541,367 | €599,997 | +€58,630 | +10.8% |
| Trade receivables | 40 | €524,253 | €545,504 | +€21,251 | +4.1% |
| Other amounts receivable | 41 | €17,114 | €54,493 | +€37,380 | +218.4% |
| Current investments | 50/53 | €103 | €103 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €392,118 | €401,810 | +€9,692 | +2.5% |
| Deferred charges and accrued income | 490/1 | €16,327 | €39,242 | +€22,916 | +140.4% |
| Total equity and liabilities | 10/49 | €1,496,199 | €1,468,787 | -€27,412 | -1.8% |
| Equity | 10/15 | €909,078 | €922,310 | +€13,232 | +1.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €785,557 | €903,718 | +€118,161 | +15.0% |
| Distributable reserves | 133 | €785,557 | €903,718 | +€118,161 | +15.0% |
| Profit (loss) carried forward | 14 | €104,929 | €0 | -€104,929 | -100.0% |
| Amounts payable | 17/49 | €587,121 | €546,476 | -€40,645 | -6.9% |
| Amounts payable within one year | 42/48 | €579,714 | €538,316 | -€41,398 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €47,309 | - | -€47,309 | |
| Trade debts | 44 | €26,197 | €91,151 | +€64,954 | +247.9% |
| Suppliers | 440/4 | €19,205 | €73,985 | +€54,780 | +285.2% |
| Bills of exchange payable | 441 | €6,992 | €17,166 | +€10,173 | +145.5% |
| Advances received on contracts in progress | 46 | €127 | - | -€127 | |
| Taxes, remuneration and social security | 45 | €230,500 | €263,919 | +€33,420 | +14.5% |
| Taxes | 450/3 | €123,871 | €173,501 | +€49,631 | +40.1% |
| Remuneration and social security | 454/9 | €106,629 | €90,418 | -€16,211 | -15.2% |
| Other amounts payable | 47/48 | €275,580 | €183,245 | -€92,335 | -33.5% |
| Accrued charges and deferred income | 492/3 | €7,407 | €8,161 | +€753 | +10.2% |
| Remuneration, social security and pensions | 62 | €546,666 | €513,444 | -€33,222 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,584 | €105,103 | +€519 | +0.5% |
| Other operating charges | 640/8 | €12,682 | €15,339 | +€2,657 | +21.0% |
| Non-recurring operating charges | 66A | €979 | €561 | -€418 | -42.7% |
| Gross operating margin | 9900 | €1,150,011 | €866,545 | -€283,466 | -24.6% |
| Operating profit (loss) | 9901 | €485,099 | €232,098 | -€253,001 | -52.2% |
| Financial income | 75/76B | €4,935 | €64,684 | +€59,749 | +1210.6% |
| Recurring financial income | 75 | €4,935 | €1,690 | -€3,245 | -65.8% |
| Non-recurring financial income | 76B | - | €62,994 | +€62,994 | |
| Financial charges | 65/66B | €4,121 | €1,991 | -€2,130 | -51.7% |
| Recurring financial charges | 65 | €4,121 | €1,991 | -€2,130 | -51.7% |
| Profit (loss) for the period before taxes | 9903 | €485,914 | €294,791 | -€191,123 | -39.3% |
| Income taxes | 67/77 | €157,718 | €98,673 | -€59,045 | -37.4% |
| Profit (loss) for the period | 9904 | €328,195 | €196,118 | -€132,077 | -40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €328,195 | €196,118 | -€132,077 | -40.2% |
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.