SELECTION OCCASION: 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.
SELECTION OCCASION
Largest movements
- Receivables within one year -€88,192
down €88,192 (-89.6%), from €98,461 to €10,268
- Stocks and contracts +€25,897
up €25,897 (+12.4%), from €209,384 to €235,282
- Cash -€23,662
down €23,662 (-51.5%), from €45,964 to €22,302
mainly Trade debts (-€83,763) and Stocks and contracts (-€25,897)
- Trade debts -€83,763
down €83,763 (-78.7%), from €106,499 to €22,735
- Profit (loss) carried forward +€10,366
up €10,366 (+3.9%), from €264,976 to €275,341
- Debts after one year -€10,071
down €10,071 (-38.0%), from €26,529 to €16,458
- Tax, wage and social debts -€6,576
down €6,576 (-17.6%), from €37,357 to €30,782
of which Taxes: -€6,502
- Gross operating margin -€38,205
down €38,205 (-69.2%), from €55,218 to €17,013
- Taxes -€7,879
down €7,879 (-69.3%), from €11,363 to €3,484
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 | €465,648 | €375,847 | -€89,801 | -19.3% |
| Fixed assets | 21/28 | €98,050 | €98,050 | = | 0.0% |
| Tangible fixed assets | 22/27 | €98,000 | €98,000 | = | 0.0% |
| Land and buildings | 22 | €98,000 | €98,000 | = | 0.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €367,598 | €277,797 | -€89,801 | -24.4% |
| Stocks and contracts in progress | 3 | €209,384 | €235,282 | +€25,897 | +12.4% |
| Stocks | 30/36 | €209,384 | €235,282 | +€25,897 | +12.4% |
| Amounts receivable within one year | 40/41 | €98,461 | €10,268 | -€88,192 | -89.6% |
| Trade receivables | 40 | €98,461 | €10,268 | -€88,192 | -89.6% |
| Cash at bank and in hand | 54/58 | €45,964 | €22,302 | -€23,662 | -51.5% |
| Deferred charges and accrued income | 490/1 | €13,788 | €9,945 | -€3,843 | -27.9% |
| Total equity and liabilities | 10/49 | €465,648 | €375,847 | -€89,801 | -19.3% |
| Equity | 10/15 | €285,436 | €295,801 | +€10,366 | +3.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264,976 | €275,341 | +€10,366 | +3.9% |
| Amounts payable | 17/49 | €180,212 | €80,046 | -€100,166 | -55.6% |
| Amounts payable after more than one year | 17 | €26,529 | €16,458 | -€10,071 | -38.0% |
| Financial debts | 170/4 | €26,529 | €16,458 | -€10,071 | -38.0% |
| Amounts payable within one year | 42/48 | €153,683 | €63,588 | -€90,096 | -58.6% |
| Current portion of amounts payable after more than one year | 42 | €9,827 | €10,071 | +€244 | +2.5% |
| Trade debts | 44 | €106,499 | €22,735 | -€83,763 | -78.7% |
| Suppliers | 440/4 | €106,499 | €22,735 | -€83,763 | -78.7% |
| Taxes, remuneration and social security | 45 | €37,357 | €30,782 | -€6,576 | -17.6% |
| Taxes | 450/3 | €37,284 | €30,782 | -€6,502 | -17.4% |
| Remuneration and social security | 454/9 | €73 | - | -€73 | |
| Other operating charges | 640/8 | €2,316 | €2,120 | -€196 | -8.5% |
| Gross operating margin | 9900 | €55,218 | €17,013 | -€38,205 | -69.2% |
| Operating profit (loss) | 9901 | €52,902 | €14,894 | -€38,008 | -71.8% |
| Financial income | 75/76B | €0 | €5 | +€5 | +7850.0% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +7850.0% |
| Financial charges | 65/66B | €1,269 | €1,048 | -€221 | -17.4% |
| Recurring financial charges | 65 | €1,269 | €1,048 | -€221 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €51,632 | €13,850 | -€37,782 | -73.2% |
| Income taxes | 67/77 | €11,363 | €3,484 | -€7,879 | -69.3% |
| Profit (loss) for the period | 9904 | €40,269 | €10,366 | -€29,903 | -74.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,269 | €10,366 | -€29,903 | -74.3% |
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 8 October 2026 via checked.be.