SELECT STYLE: 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.
SELECT STYLE
Largest movements
- Cash +€221,368
up €221,368 (+129%), from €171,682 to €393,049
mainly Net result for the year (+€204,029) and Stocks and contracts (+€72,697)
- Stocks and contracts -€72,697
down €72,697 (-30.3%), from €239,800 to €167,103
- Tangible fixed assets -€18,749
down €18,749 (-4.1%), from €458,973 to €440,225
of which Furniture and vehicles: -€12,182
- Reserves +€186,110
up €186,110 (+42.5%), from €437,595 to €623,705
- Debts after one year -€29,676
down €29,676 (-9.3%), from €317,939 to €288,263
- Accrued charges and deferred income +€17,197
up €17,197 (+9,260%), from €186 to €17,383
- Trade debts -€13,888
down €13,888 (-44.2%), from €31,429 to €17,541
- Tax, wage and social debts -€13,577
down €13,577 (-21.0%), from €64,519 to €50,942
of which Taxes: -€14,039
- Gross operating margin +€99,619
up €99,619 (+29.3%), from €340,291 to €439,910
- Taxes +€32,100
up €32,100 (+52.9%), from €60,690 to €92,790
- Financial charges -€9,979
down €9,979 (-21.8%), from €45,868 to €35,889
- Staff costs +€5,544
up €5,544 (+7.1%), from €77,664 to €83,208
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 | €894,501 | €1,034,781 | +€140,280 | +15.7% |
| Fixed assets | 21/28 | €461,898 | €443,150 | -€18,749 | -4.1% |
| Tangible fixed assets | 22/27 | €458,973 | €440,225 | -€18,749 | -4.1% |
| Land and buildings | 22 | €422,744 | €418,067 | -€4,678 | -1.1% |
| Plant, machinery and equipment | 23 | €1,984 | €94 | -€1,889 | -95.2% |
| Furniture and vehicles | 24 | €34,245 | €22,064 | -€12,182 | -35.6% |
| Financial fixed assets | 28 | €2,925 | €2,925 | = | 0.0% |
| Current assets | 29/58 | €432,603 | €591,631 | +€159,028 | +36.8% |
| Stocks and contracts in progress | 3 | €239,800 | €167,103 | -€72,697 | -30.3% |
| Stocks | 30/36 | €239,800 | €167,103 | -€72,697 | -30.3% |
| Amounts receivable within one year | 40/41 | €21,122 | €30,706 | +€9,584 | +45.4% |
| Trade receivables | 40 | €3,563 | €20,461 | +€16,897 | +474% |
| Other amounts receivable | 41 | €17,558 | €10,245 | -€7,313 | -41.7% |
| Cash at bank and in hand | 54/58 | €171,682 | €393,049 | +€221,368 | +129% |
| Deferred charges and accrued income | 490/1 | - | €773 | +€773 | |
| Total equity and liabilities | 10/49 | €894,501 | €1,034,781 | +€140,280 | +15.7% |
| Equity | 10/15 | €444,155 | €629,934 | +€185,779 | +41.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €437,595 | €623,705 | +€186,110 | +42.5% |
| Distributable reserves | 133 | €437,595 | €623,705 | +€186,110 | +42.5% |
| Profit (loss) carried forward | 14 | €360 | €29 | -€331 | -92.0% |
| Amounts payable | 17/49 | €450,346 | €404,847 | -€45,499 | -10.1% |
| Amounts payable after more than one year | 17 | €317,939 | €288,263 | -€29,676 | -9.3% |
| Financial debts | 170/4 | €317,939 | €288,263 | -€29,676 | -9.3% |
| Amounts payable within one year | 42/48 | €132,221 | €99,201 | -€33,020 | -25.0% |
| Current portion of amounts payable after more than one year | 42 | €33,265 | €29,676 | -€3,588 | -10.8% |
| Trade debts | 44 | €31,429 | €17,541 | -€13,888 | -44.2% |
| Suppliers | 440/4 | €31,429 | €17,541 | -€13,888 | -44.2% |
| Taxes, remuneration and social security | 45 | €64,519 | €50,942 | -€13,577 | -21.0% |
| Taxes | 450/3 | €59,147 | €45,108 | -€14,039 | -23.7% |
| Remuneration and social security | 454/9 | €5,372 | €5,834 | +€462 | +8.6% |
| Other amounts payable | 47/48 | €3,009 | €1,042 | -€1,967 | -65.4% |
| Accrued charges and deferred income | 492/3 | €186 | €17,383 | +€17,197 | +9,260% |
| Remuneration, social security and pensions | 62 | €77,664 | €83,208 | +€5,544 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,363 | €21,343 | -€20 | -0.1% |
| Other operating charges | 640/8 | €3,905 | €4,127 | +€222 | +5.7% |
| Gross operating margin | 9900 | €340,291 | €439,910 | +€99,619 | +29.3% |
| Operating profit (loss) | 9901 | €237,359 | €331,233 | +€93,874 | +39.5% |
| Financial income | 75/76B | €1,059 | €1,475 | +€416 | +39.3% |
| Recurring financial income | 75 | €1,059 | €1,475 | +€416 | +39.3% |
| Financial charges | 65/66B | €45,868 | €35,889 | -€9,979 | -21.8% |
| Recurring financial charges | 65 | €45,868 | €35,889 | -€9,979 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €192,550 | €296,819 | +€104,269 | +54.2% |
| Income taxes | 67/77 | €60,690 | €92,790 | +€32,100 | +52.9% |
| Profit (loss) for the period | 9904 | €131,860 | €204,029 | +€72,169 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €131,860 | €204,029 | +€72,169 | +54.7% |
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.