Shtick: 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.
Shtick
Largest movements
- Cash -€74,846
down €74,846 (-30.5%), from €245,771 to €170,925
mainly Tax, wage and social debts (-€56,117) and Receivables within one year (-€29,278)
- Receivables within one year +€29,278
up €29,278 (+39.0%), from €75,051 to €104,329
of which Trade receivables: +€21,902
- Tangible fixed assets -€17,948
down €17,948 (-14.6%), from €122,778 to €104,830
of which Land and buildings: -€14,179
- Tax, wage and social debts -€56,117
down €56,117 (-61.4%), from €91,338 to €35,222
of which Remuneration and social security: -€61,522
- Trade debts +€28,737
up €28,737 (+49.7%), from €57,767 to €86,504
- Profit (loss) carried forward -€27,691
down €27,691 (-14.6%), from €189,690 to €161,999
- Debts after one year -€8,476
down €8,476 (-11.1%), from €76,422 to €67,946
- Gross operating margin -€29,911
down €29,911 (-7.7%), from €388,854 to €358,943
- Staff costs +€19,718
up €19,718 (+5.7%), from €345,529 to €365,246
- Taxes -€6,775
no longer reported in 2025 (was €6,775)
- Depreciation -€4,071
down €4,071 (-18.5%), from €22,020 to €17,948
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 | €443,876 | €381,323 | -€62,553 | -14.1% |
| Fixed assets | 21/28 | €123,054 | €105,105 | -€17,948 | -14.6% |
| Tangible fixed assets | 22/27 | €122,778 | €104,830 | -€17,948 | -14.6% |
| Land and buildings | 22 | €115,879 | €101,700 | -€14,179 | -12.2% |
| Furniture and vehicles | 24 | €6,899 | €3,130 | -€3,769 | -54.6% |
| Financial fixed assets | 28 | €275 | €275 | = | 0.0% |
| Current assets | 29/58 | €320,822 | €276,218 | -€44,605 | -13.9% |
| Amounts receivable within one year | 40/41 | €75,051 | €104,329 | +€29,278 | +39.0% |
| Trade receivables | 40 | €70,940 | €92,842 | +€21,902 | +30.9% |
| Other amounts receivable | 41 | €4,111 | €11,487 | +€7,375 | +179.4% |
| Cash at bank and in hand | 54/58 | €245,771 | €170,925 | -€74,846 | -30.5% |
| Deferred charges and accrued income | 490/1 | - | €964 | +€964 | |
| Total equity and liabilities | 10/49 | €443,876 | €381,323 | -€62,553 | -14.1% |
| Equity | 10/15 | €210,150 | €182,459 | -€27,691 | -13.2% |
| 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 | €189,690 | €161,999 | -€27,691 | -14.6% |
| Amounts payable | 17/49 | €233,725 | €198,863 | -€34,862 | -14.9% |
| Amounts payable after more than one year | 17 | €76,422 | €67,946 | -€8,476 | -11.1% |
| Financial debts | 170/4 | €76,422 | €67,946 | -€8,476 | -11.1% |
| Amounts payable within one year | 42/48 | €157,303 | €130,202 | -€27,102 | -17.2% |
| Current portion of amounts payable after more than one year | 42 | €8,198 | €8,476 | +€278 | +3.4% |
| Trade debts | 44 | €57,767 | €86,504 | +€28,737 | +49.7% |
| Suppliers | 440/4 | €57,767 | €86,504 | +€28,737 | +49.7% |
| Taxes, remuneration and social security | 45 | €91,338 | €35,222 | -€56,117 | -61.4% |
| Taxes | 450/3 | €21,711 | €27,116 | +€5,405 | +24.9% |
| Remuneration and social security | 454/9 | €69,627 | €8,106 | -€61,522 | -88.4% |
| Accrued charges and deferred income | 492/3 | - | €716 | +€716 | |
| Remuneration, social security and pensions | 62 | €345,529 | €365,246 | +€19,718 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,020 | €17,948 | -€4,071 | -18.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€575 | - | +€575 | |
| Other operating charges | 640/8 | €3,671 | €3,294 | -€378 | -10.3% |
| Gross operating margin | 9900 | €388,854 | €358,943 | -€29,911 | -7.7% |
| Operating profit (loss) | 9901 | €18,209 | -€27,545 | -€45,754 | |
| Financial income | 75/76B | €5,190 | €2,998 | -€2,193 | -42.2% |
| Recurring financial income | 75 | €5,190 | €2,998 | -€2,193 | -42.2% |
| Financial charges | 65/66B | €3,353 | €3,144 | -€209 | -6.2% |
| Recurring financial charges | 65 | €3,353 | €3,144 | -€209 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €20,047 | -€27,691 | -€47,738 | |
| Income taxes | 67/77 | €6,775 | - | -€6,775 | |
| Profit (loss) for the period | 9904 | €13,272 | -€27,691 | -€40,963 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,272 | -€27,691 | -€40,963 |
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 12 October 2026 via checked.be.