SIGN & DISPLAY: 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 & DISPLAY
Largest movements
- Receivables within one year +€373,829
up €373,829 (+23.1%), from €1.6m to €2.0m
of which Other amounts receivable: +€444,813
- Intangible fixed assets -€124,999
down €124,999 (-30.9%), from €404,160 to €279,162
- Cash +€64,022
up €64,022 (+53.2%), from €120,280 to €184,302
mainly Trade debts (+€545,968) and Short-term financial debts (+€193,666)
- Trade debts +€545,968
up €545,968 (+131.4%), from €415,454 to €961,422
- Other debts -€450,000
down €450,000 (-100.0%), from €450,000 to €0
- Short-term financial debts +€193,666
up €193,666 (+132.7%), from €145,993 to €339,659
- Debts after one year -€43,542
down €43,542 (-13.2%), from €330,140 to €286,598
- Reserves +€37,414
up €37,414 (+13.0%), from €288,193 to €325,607
of which Distributable reserves: +€35,543
- Gross operating margin -€662,742
down €662,742 (-23.8%), from €2.8m to €2.1m
- Staff costs -€41,112
down €41,112 (-2.3%), from €1.8m to €1.7m
- Taxes -€36,799
down €36,799 (-33.6%), from €109,651 to €72,852
- Financial charges -€35,397
down €35,397 (-32.4%), from €109,255 to €73,858
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 | €2,744,782 | €3,042,027 | +€297,245 | +10.8% |
| Fixed assets | 21/28 | €651,376 | €544,336 | -€107,039 | -16.4% |
| Intangible fixed assets | 21 | €404,160 | €279,162 | -€124,999 | -30.9% |
| Tangible fixed assets | 22/27 | €223,060 | €241,020 | +€17,960 | +8.1% |
| Land and buildings | 22 | €180,278 | €162,176 | -€18,102 | -10.0% |
| Plant, machinery and equipment | 23 | €25,618 | €2,683 | -€22,936 | -89.5% |
| Furniture and vehicles | 24 | €17,164 | €76,161 | +€58,997 | +343.7% |
| Financial fixed assets | 28 | €24,155 | €24,155 | = | 0.0% |
| Current assets | 29/58 | €2,093,406 | €2,497,691 | +€404,284 | +19.3% |
| Stocks and contracts in progress | 3 | €333,354 | €305,102 | -€28,252 | -8.5% |
| Stocks | 30/36 | €333,354 | €305,102 | -€28,252 | -8.5% |
| Amounts receivable within one year | 40/41 | €1,615,280 | €1,989,109 | +€373,829 | +23.1% |
| Trade receivables | 40 | €526,120 | €455,136 | -€70,983 | -13.5% |
| Other amounts receivable | 41 | €1,089,160 | €1,533,973 | +€444,813 | +40.8% |
| Cash at bank and in hand | 54/58 | €120,280 | €184,302 | +€64,022 | +53.2% |
| Deferred charges and accrued income | 490/1 | €24,492 | €19,177 | -€5,315 | -21.7% |
| Total equity and liabilities | 10/49 | €2,744,782 | €3,042,027 | +€297,245 | +10.8% |
| Equity | 10/15 | €1,028,246 | €1,065,660 | +€37,414 | +3.6% |
| Contributions | 10/11 | €740,053 | €740,053 | = | 0.0% |
| Capital | 10 | €740,053 | €740,053 | = | 0.0% |
| Issued capital | 100 | €740,053 | €740,053 | = | 0.0% |
| Reserves | 13 | €288,193 | €325,607 | +€37,414 | +13.0% |
| Non-distributable reserves | 130/1 | €65,371 | €67,241 | +€1,871 | +2.9% |
| Legal reserve | 130 | €65,371 | €67,241 | +€1,871 | +2.9% |
| Distributable reserves | 133 | €222,822 | €258,365 | +€35,543 | +16.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,716,536 | €1,976,367 | +€259,831 | +15.1% |
| Amounts payable after more than one year | 17 | €330,140 | €286,598 | -€43,542 | -13.2% |
| Financial debts | 170/4 | €330,140 | €286,598 | -€43,542 | -13.2% |
| Amounts payable within one year | 42/48 | €1,382,396 | €1,685,269 | +€302,873 | +21.9% |
| Current portion of amounts payable after more than one year | 42 | €77,237 | €98,454 | +€21,217 | +27.5% |
| Financial debts | 43 | €145,993 | €339,659 | +€193,666 | +132.7% |
| Credit institutions | 430/8 | €145,993 | €339,659 | +€193,666 | +132.7% |
| Trade debts | 44 | €415,454 | €961,422 | +€545,968 | +131.4% |
| Suppliers | 440/4 | €415,454 | €961,422 | +€545,968 | +131.4% |
| Taxes, remuneration and social security | 45 | €293,713 | €285,734 | -€7,978 | -2.7% |
| Taxes | 450/3 | €161,054 | €132,953 | -€28,101 | -17.4% |
| Remuneration and social security | 454/9 | €132,659 | €152,782 | +€20,123 | +15.2% |
| Other amounts payable | 47/48 | €450,000 | €0 | -€450,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €4,000 | €4,500 | +€500 | +12.5% |
| Non-recurring operating income | 76A | €14,587 | €413 | -€14,173 | -97.2% |
| Remuneration, social security and pensions | 62 | €1,780,758 | €1,739,645 | -€41,112 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €181,003 | €184,666 | +€3,663 | +2.0% |
| Other operating charges | 640/8 | €11,389 | €11,700 | +€310 | +2.7% |
| Non-recurring operating charges | 66A | €178 | €0 | -€178 | -100.0% |
| Gross operating margin | 9900 | €2,782,847 | €2,120,105 | -€662,742 | -23.8% |
| Operating profit (loss) | 9901 | €809,519 | €184,095 | -€625,425 | -77.3% |
| Financial income | 75/76B | €1,888 | €29 | -€1,859 | -98.5% |
| Recurring financial income | 75 | €1,888 | €29 | -€1,859 | -98.5% |
| Financial charges | 65/66B | €109,255 | €73,858 | -€35,397 | -32.4% |
| Recurring financial charges | 65 | €109,255 | €73,858 | -€35,397 | -32.4% |
| Profit (loss) for the period before taxes | 9903 | €702,153 | €110,266 | -€591,887 | -84.3% |
| Income taxes | 67/77 | €109,651 | €72,852 | -€36,799 | -33.6% |
| Profit (loss) for the period | 9904 | €592,501 | €37,414 | -€555,087 | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | €592,501 | €37,414 | -€555,087 | -93.7% |
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.