SHOTS: 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.
SHOTS
Largest movements
- Receivables after one year -€88,219
no longer reported in 2025 (was €88,219)
- Receivables within one year -€21,235
down €21,235 (-26.6%), from €79,902 to €58,667
of which Other amounts receivable: -€14,220
- Cash +€19,354
up €19,354 (+11.7%), from €166,045 to €185,399
mainly Receivables after one year (+€88,219) and Net result for the year (+€61,726)
- Reserves -€67,804
down €67,804 (-25.1%), from €269,703 to €201,899
- Accrued charges and deferred income -€15,997
down €15,997 (-91.9%), from €17,413 to €1,416
- Other debts -€9,573
down €9,573 (-67.8%), from €14,118 to €4,545
- Trade debts +€6,292
up €6,292 (+393.7%), from €1,598 to €7,890
- Gross operating margin +€5,559
up €5,559 (+6.4%), from €87,370 to €92,928
- Taxes +€2,977
up €2,977 (+13.6%), from €21,827 to €24,804
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 | €358,609 | €271,164 | -€87,445 | -24.4% |
| Fixed assets | 21/28 | €20,800 | €21,143 | +€342 | +1.6% |
| Tangible fixed assets | 22/27 | €20,800 | €21,143 | +€342 | +1.6% |
| Plant, machinery and equipment | 23 | €5,865 | €5,059 | -€805 | -13.7% |
| Furniture and vehicles | 24 | €2,913 | €5,799 | +€2,886 | +99.1% |
| Other tangible fixed assets | 26 | €12,023 | €10,285 | -€1,738 | -14.5% |
| Current assets | 29/58 | €337,808 | €250,021 | -€87,788 | -26.0% |
| Amounts receivable after more than one year | 29 | €88,219 | - | -€88,219 | |
| Other amounts receivable | 291 | €88,219 | - | -€88,219 | |
| Amounts receivable within one year | 40/41 | €79,902 | €58,667 | -€21,235 | -26.6% |
| Trade receivables | 40 | €65,682 | €58,667 | -€7,015 | -10.7% |
| Other amounts receivable | 41 | €14,220 | - | -€14,220 | |
| Cash at bank and in hand | 54/58 | €166,045 | €185,399 | +€19,354 | +11.7% |
| Deferred charges and accrued income | 490/1 | €3,643 | €5,955 | +€2,312 | +63.5% |
| Total equity and liabilities | 10/49 | €358,609 | €271,164 | -€87,445 | -24.4% |
| Equity | 10/15 | €284,694 | €215,224 | -€69,470 | -24.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €269,703 | €201,899 | -€67,804 | -25.1% |
| Distributable reserves | 133 | €269,703 | €201,899 | -€67,804 | -25.1% |
| Profit (loss) carried forward | 14 | €8,791 | €7,125 | -€1,666 | -19.0% |
| Amounts payable | 17/49 | €73,915 | €55,940 | -€17,975 | -24.3% |
| Amounts payable after more than one year | 17 | €20,000 | €20,000 | = | 0.0% |
| Other amounts payable | 178/9 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,501 | €34,524 | -€1,978 | -5.4% |
| Trade debts | 44 | €1,598 | €7,890 | +€6,292 | +393.7% |
| Suppliers | 440/4 | €1,598 | €7,890 | +€6,292 | +393.7% |
| Taxes, remuneration and social security | 45 | €20,786 | €22,089 | +€1,303 | +6.3% |
| Taxes | 450/3 | €7,921 | €9,600 | +€1,679 | +21.2% |
| Remuneration and social security | 454/9 | €12,864 | €12,489 | -€376 | -2.9% |
| Other amounts payable | 47/48 | €14,118 | €4,545 | -€9,573 | -67.8% |
| Accrued charges and deferred income | 492/3 | €17,413 | €1,416 | -€15,997 | -91.9% |
| Non-recurring operating income | 76A | €13,571 | - | -€13,571 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,847 | €6,214 | -€633 | -9.2% |
| Other operating charges | 640/8 | €1,723 | €1,231 | -€493 | -28.6% |
| Gross operating margin | 9900 | €87,370 | €92,928 | +€5,559 | +6.4% |
| Operating profit (loss) | 9901 | €78,799 | €85,484 | +€6,685 | +8.5% |
| Financial income | 75/76B | €3,129 | €3,405 | +€276 | +8.8% |
| Recurring financial income | 75 | €3,129 | €3,405 | +€276 | +8.8% |
| Financial charges | 65/66B | €2,398 | €2,360 | -€38 | -1.6% |
| Recurring financial charges | 65 | €2,398 | €2,360 | -€38 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €79,531 | €86,530 | +€6,999 | +8.8% |
| Income taxes | 67/77 | €21,827 | €24,804 | +€2,977 | +13.6% |
| Profit (loss) for the period | 9904 | €57,704 | €61,726 | +€4,022 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €57,704 | €61,726 | +€4,022 | +7.0% |
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 6 October 2026 via checked.be.