Sélection: what changed
Two fiscal 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.
Sélection
Largest movements
- Stocks and contracts +€87,265
up €87,265 (+21.4%), from €408,727 to €495,992
- Cash -€15,200
down €15,200 (-3.5%), from €431,251 to €416,051
mainly Stocks and contracts (-€87,265) and Tax, wage and social debts (-€15,765)
- Receivables within one year +€10,871
up €10,871 (+107.7%), from €10,090 to €20,961
of which Other amounts receivable: +€10,086
- Short-term financial debts +€92,961
up €92,961 (+298.2%), from €31,174 to €124,134
- Tax, wage and social debts -€15,765
down €15,765 (-8.7%), from €182,109 to €166,345
of which Remuneration and social security: -€15,478
- Profit (loss) carried forward +€11,029
up €11,029 (+16.2%), from -€68,058 to -€57,029
- Gross operating margin -€38,949
down €38,949 (-7.9%), from €495,326 to €456,376
- Staff costs +€21,131
up €21,131 (+5.5%), from €383,908 to €405,039
- Financial charges -€8,562
down €8,562 (-33.8%), from €25,308 to €16,746
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 | €905,218 | €985,372 | +€80,154 | +8.9% |
| Fixed assets | 21/28 | €39,673 | €38,973 | -€699 | -1.8% |
| Tangible fixed assets | 22/27 | €24,586 | €23,886 | -€699 | -2.8% |
| Furniture and vehicles | 24 | €8,486 | €15,604 | +€7,119 | +83.9% |
| Other tangible fixed assets | 26 | €16,100 | €8,282 | -€7,818 | -48.6% |
| Financial fixed assets | 28 | €15,087 | €15,087 | = | 0.0% |
| Current assets | 29/58 | €865,545 | €946,399 | +€80,854 | +9.3% |
| Stocks and contracts in progress | 3 | €408,727 | €495,992 | +€87,265 | +21.4% |
| Stocks | 30/36 | €408,727 | €495,992 | +€87,265 | +21.4% |
| Amounts receivable within one year | 40/41 | €10,090 | €20,961 | +€10,871 | +107.7% |
| Trade receivables | 40 | €10,090 | €10,874 | +€784 | +7.8% |
| Other amounts receivable | 41 | €0 | €10,086 | +€10,086 | |
| Cash at bank and in hand | 54/58 | €431,251 | €416,051 | -€15,200 | -3.5% |
| Deferred charges and accrued income | 490/1 | €15,477 | €13,394 | -€2,082 | -13.5% |
| Total equity and liabilities | 10/49 | €905,218 | €985,372 | +€80,154 | +8.9% |
| Equity | 10/15 | €450,210 | €461,239 | +€11,029 | +2.4% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €18,268 | €18,268 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,071 | €12,071 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,058 | -€57,029 | +€11,029 | +16.2% |
| Amounts payable | 17/49 | €455,007 | €524,133 | +€69,126 | +15.2% |
| Amounts payable after more than one year | 17 | €6,244 | €8,417 | +€2,173 | +34.8% |
| Financial debts | 170/4 | €6,244 | €8,417 | +€2,173 | +34.8% |
| Amounts payable within one year | 42/48 | €448,763 | €515,705 | +€66,941 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €11,115 | €8,494 | -€2,621 | -23.6% |
| Financial debts | 43 | €31,174 | €124,134 | +€92,961 | +298.2% |
| Credit institutions | 430/8 | €31,174 | €124,134 | +€92,961 | +298.2% |
| Trade debts | 44 | €220,366 | €216,732 | -€3,634 | -1.6% |
| Suppliers | 440/4 | €220,366 | €216,732 | -€3,634 | -1.6% |
| Taxes, remuneration and social security | 45 | €182,109 | €166,345 | -€15,765 | -8.7% |
| Taxes | 450/3 | €128,879 | €128,592 | -€287 | -0.2% |
| Remuneration and social security | 454/9 | €53,231 | €37,753 | -€15,478 | -29.1% |
| Other amounts payable | 47/48 | €4,000 | €0 | -€4,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €12 | +€12 | |
| Non-recurring operating income | 76A | €84,142 | €0 | -€84,142 | -100.0% |
| Remuneration, social security and pensions | 62 | €383,908 | €405,039 | +€21,131 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,359 | €13,074 | +€714 | +5.8% |
| Other operating charges | 640/8 | €3,472 | €4,356 | +€884 | +25.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €495,326 | €456,376 | -€38,949 | -7.9% |
| Operating profit (loss) | 9901 | €95,587 | €33,908 | -€61,679 | -64.5% |
| Financial income | 75/76B | €2,773 | €4,046 | +€1,273 | +45.9% |
| Recurring financial income | 75 | €2,773 | €4,046 | +€1,273 | +45.9% |
| Financial charges | 65/66B | €25,308 | €16,746 | -€8,562 | -33.8% |
| Recurring financial charges | 65 | €25,308 | €16,746 | -€8,562 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €73,051 | €21,207 | -€51,844 | -71.0% |
| Income taxes | 67/77 | €10,000 | €10,179 | +€179 | +1.8% |
| Profit (loss) for the period | 9904 | €63,051 | €11,029 | -€52,023 | -82.5% |
| Profit (loss) for the period to be appropriated | 9905 | €63,051 | €11,029 | -€52,023 | -82.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.