SEE LIGHT: 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.
SEE LIGHT
Largest movements
- Receivables within one year -€119,587
down €119,587 (-80.2%), from €149,171 to €29,584
of which Other amounts receivable: -€80,927
- Tangible fixed assets -€11,777
down €11,777 (-7.9%), from €149,353 to €137,576
of which Furniture and vehicles: -€7,967
- Deferred charges and accrued income -€5,894
down €5,894 (-75.4%), from €7,818 to €1,924
- Current investments -€5,305
down €5,305 (-6.7%), from €79,663 to €74,358
- Other debts -€97,048
down €97,048 (-100%), from €97,048 to €0
- Reserves -€39,306
down €39,306 (-20.8%), from €188,667 to €149,361
- Debts after one year -€13,978
down €13,978 (-20.8%), from €67,286 to €53,308
- Tax, wage and social debts +€5,149
up €5,149 (+44.9%), from €11,458 to €16,607
of which Taxes: +€2,849
- Accrued charges and deferred income -€4,145
down €4,145 (-59.0%), from €7,026 to €2,881
- Gross operating margin +€35,107
up €35,107 (+43.1%), from €81,378 to €116,485
- Taxes +€7,766
up €7,766 (+60.2%), from €12,898 to €20,664
- Financial charges -€3,733
down €3,733 (-35.1%), from €10,648 to €6,915
- Depreciation +€2,979
up €2,979 (+27.9%), from €10,683 to €13,662
- Financial income -€1,438
down €1,438 (-17.3%), from €8,311 to €6,873
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 | €405,024 | €259,164 | -€145,860 | -36.0% |
| Fixed assets | 21/28 | €149,353 | €137,576 | -€11,777 | -7.9% |
| Tangible fixed assets | 22/27 | €149,353 | €137,576 | -€11,777 | -7.9% |
| Plant, machinery and equipment | 23 | - | €1,690 | +€1,690 | |
| Furniture and vehicles | 24 | €33,485 | €25,518 | -€7,967 | -23.8% |
| Other tangible fixed assets | 26 | €115,867 | €110,367 | -€5,500 | -4.7% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €255,671 | €121,588 | -€134,083 | -52.4% |
| Amounts receivable within one year | 40/41 | €149,171 | €29,584 | -€119,587 | -80.2% |
| Trade receivables | 40 | €53,932 | €15,272 | -€38,660 | -71.7% |
| Other amounts receivable | 41 | €95,239 | €14,312 | -€80,927 | -85.0% |
| Current investments | 50/53 | €79,663 | €74,358 | -€5,305 | -6.7% |
| Cash at bank and in hand | 54/58 | €19,019 | €15,722 | -€3,297 | -17.3% |
| Deferred charges and accrued income | 490/1 | €7,818 | €1,924 | -€5,894 | -75.4% |
| Total equity and liabilities | 10/49 | €405,024 | €259,164 | -€145,860 | -36.0% |
| Equity | 10/15 | €207,217 | €167,911 | -€39,306 | -19.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €188,667 | €149,361 | -€39,306 | -20.8% |
| Distributable reserves | 133 | €188,667 | €149,361 | -€39,306 | -20.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €197,807 | €91,253 | -€106,554 | -53.9% |
| Amounts payable after more than one year | 17 | €67,286 | €53,308 | -€13,978 | -20.8% |
| Financial debts | 170/4 | €67,286 | €53,308 | -€13,978 | -20.8% |
| Amounts payable within one year | 42/48 | €123,495 | €35,064 | -€88,431 | -71.6% |
| Current portion of amounts payable after more than one year | 42 | €13,458 | €13,978 | +€519 | +3.9% |
| Trade debts | 44 | €1,531 | €4,480 | +€2,949 | +193% |
| Suppliers | 440/4 | €1,531 | €4,480 | +€2,949 | +193% |
| Taxes, remuneration and social security | 45 | €11,458 | €16,607 | +€5,149 | +44.9% |
| Taxes | 450/3 | €11,458 | €14,307 | +€2,849 | +24.9% |
| Remuneration and social security | 454/9 | €0 | €2,300 | +€2,300 | |
| Other amounts payable | 47/48 | €97,048 | €0 | -€97,048 | -100% |
| Accrued charges and deferred income | 492/3 | €7,026 | €2,881 | -€4,145 | -59.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,683 | €13,662 | +€2,979 | +27.9% |
| Other operating charges | 640/8 | €1,110 | €1,422 | +€312 | +28.1% |
| Gross operating margin | 9900 | €81,378 | €116,485 | +€35,107 | +43.1% |
| Operating profit (loss) | 9901 | €69,585 | €101,401 | +€31,817 | +45.7% |
| Financial income | 75/76B | €8,311 | €6,873 | -€1,438 | -17.3% |
| Recurring financial income | 75 | €8,311 | €6,873 | -€1,438 | -17.3% |
| Financial charges | 65/66B | €10,648 | €6,915 | -€3,733 | -35.1% |
| Recurring financial charges | 65 | €10,648 | €6,915 | -€3,733 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €67,247 | €101,358 | +€34,112 | +50.7% |
| Income taxes | 67/77 | €12,898 | €20,664 | +€7,766 | +60.2% |
| Profit (loss) for the period | 9904 | €54,349 | €80,694 | +€26,345 | +48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €54,349 | €80,694 | +€26,345 | +48.5% |
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 24 October 2026 via checked.be.