SIGN BRUSSELS: 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.
SIGN BRUSSELS
Largest movements
- Receivables within one year +€82,469
up €82,469 (+17.1%), from €481,792 to €564,261
of which Trade receivables: +€82,473
- Cash -€15,275
down €15,275 (-61.6%), from €24,789 to €9,513
mainly Receivables within one year (-€82,469) and Advances received (-€62,950)
- Intangible fixed assets -€13,447
down €13,447 (-38.8%), from €34,693 to €21,246
- Tangible fixed assets +€8,931
up €8,931 (+2,706%), from €330 to €9,261
- Stocks and contracts -€6,914
down €6,914 (-52.8%), from €13,093 to €6,179
- Trade debts +€148,814
up €148,814 (+46.7%), from €318,449 to €467,262
- Advances received -€62,950
down €62,950 (-61.3%), from €102,709 to €39,759
- Profit (loss) carried forward -€39,437
down €39,437 (-46.8%), from -€84,285 to -€123,721
- Tax, wage and social debts +€6,287
up €6,287 (+10.6%), from €59,117 to €65,404
of which Remuneration and social security: +€5,582
- Other operating charges -€28,295
down €28,295 (-97.3%), from €29,094 to €800
- Write-downs -€19,370
down €19,370 (-100%), from €19,370 to €0
- Staff costs +€10,825
up €10,825 (+3.5%), from €306,375 to €317,200
- Financial income -€3,507
down €3,507 (-100%), from €3,507 to €0
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 | €554,949 | €610,983 | +€56,034 | +10.1% |
| Fixed assets | 21/28 | €35,023 | €30,507 | -€4,516 | -12.9% |
| Intangible fixed assets | 21 | €34,693 | €21,246 | -€13,447 | -38.8% |
| Tangible fixed assets | 22/27 | €330 | €9,261 | +€8,931 | +2,706% |
| Furniture and vehicles | 24 | €330 | €9,261 | +€8,931 | +2,706% |
| Current assets | 29/58 | €519,926 | €580,476 | +€60,550 | +11.6% |
| Stocks and contracts in progress | 3 | €13,093 | €6,179 | -€6,914 | -52.8% |
| Contracts in progress | 37 | €13,093 | €6,179 | -€6,914 | -52.8% |
| Amounts receivable within one year | 40/41 | €481,792 | €564,261 | +€82,469 | +17.1% |
| Trade receivables | 40 | €481,788 | €564,261 | +€82,473 | +17.1% |
| Other amounts receivable | 41 | €4 | €0 | -€4 | -100% |
| Cash at bank and in hand | 54/58 | €24,789 | €9,513 | -€15,275 | -61.6% |
| Deferred charges and accrued income | 490/1 | €253 | €523 | +€270 | +107% |
| Total equity and liabilities | 10/49 | €554,949 | €610,983 | +€56,034 | +10.1% |
| Equity | 10/15 | -€16,635 | -€56,071 | -€39,437 | -237% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,285 | -€123,721 | -€39,437 | -46.8% |
| Amounts payable | 17/49 | €571,583 | €667,054 | +€95,471 | +16.7% |
| Amounts payable after more than one year | 17 | €83,000 | €83,000 | = | 0.0% |
| Financial debts | 170/4 | €83,000 | €83,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €488,583 | €584,054 | +€95,471 | +19.5% |
| Trade debts | 44 | €318,449 | €467,262 | +€148,814 | +46.7% |
| Suppliers | 440/4 | €318,449 | €467,262 | +€148,814 | +46.7% |
| Advances received on contracts in progress | 46 | €102,709 | €39,759 | -€62,950 | -61.3% |
| Taxes, remuneration and social security | 45 | €59,117 | €65,404 | +€6,287 | +10.6% |
| Taxes | 450/3 | €20,218 | €20,923 | +€705 | +3.5% |
| Remuneration and social security | 454/9 | €38,899 | €44,482 | +€5,582 | +14.4% |
| Other amounts payable | 47/48 | €8,309 | €11,629 | +€3,320 | +40.0% |
| Remuneration, social security and pensions | 62 | €306,375 | €317,200 | +€10,825 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,588 | €15,016 | -€1,572 | -9.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,370 | €0 | -€19,370 | -100% |
| Other operating charges | 640/8 | €29,094 | €800 | -€28,295 | -97.3% |
| Gross operating margin | 9900 | €299,443 | €297,752 | -€1,691 | -0.6% |
| Operating profit (loss) | 9901 | -€71,985 | -€35,264 | +€36,721 | +51.0% |
| Financial income | 75/76B | €3,507 | €0 | -€3,507 | -100% |
| Recurring financial income | 75 | €3,507 | €0 | -€3,507 | -100% |
| Financial charges | 65/66B | €4,001 | €3,966 | -€35 | -0.9% |
| Recurring financial charges | 65 | €4,001 | €3,966 | -€35 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | -€72,479 | -€39,230 | +€33,249 | +45.9% |
| Income taxes | 67/77 | €349 | €207 | -€142 | -40.6% |
| Profit (loss) for the period | 9904 | -€72,828 | -€39,437 | +€33,391 | +45.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€72,828 | -€39,437 | +€33,391 | +45.8% |
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 21 October 2026 via checked.be.