SL - Solution: 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.
SL - Solution
Largest movements
- Cash -€266,149
down €266,149 (-33.1%), from €804,646 to €538,497
mainly Receivables within one year (-€238,413) and Trade debts (-€183,221)
- Receivables within one year +€238,413
up €238,413 (+40.9%), from €583,615 to €822,028
of which Trade receivables: +€246,481
- Stocks and contracts +€50,911
up €50,911 (+20.2%), from €252,134 to €303,045
- Trade debts -€183,221
down €183,221 (-46.1%), from €397,140 to €213,919
- Reserves +€157,811
up €157,811 (+15.7%), from €1.0m to €1.2m
of which Tax-exempt reserves: +€84,200
- Tax, wage and social debts +€27,607
up €27,607 (+31.4%), from €87,956 to €115,563
of which Taxes: +€36,623
- Staff costs -€68,044
down €68,044 (-9.7%), from €703,820 to €635,776
- Financial charges -€12,485
down €12,485 (-42.9%), from €29,117 to €16,632
- Gross operating margin -€11,461
down €11,461 (-1.2%), from €984,337 to €972,875
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 | €2,121,140 | €2,131,672 | +€10,532 | +0.5% |
| Fixed assets | 21/28 | €480,745 | €467,795 | -€12,950 | -2.7% |
| Tangible fixed assets | 22/27 | €480,745 | €467,795 | -€12,950 | -2.7% |
| Land and buildings | 22 | €288,606 | €252,688 | -€35,917 | -12.4% |
| Plant, machinery and equipment | 23 | €6,848 | €28,711 | +€21,863 | +319.3% |
| Furniture and vehicles | 24 | €185,291 | €186,395 | +€1,104 | +0.6% |
| Current assets | 29/58 | €1,640,396 | €1,663,877 | +€23,482 | +1.4% |
| Stocks and contracts in progress | 3 | €252,134 | €303,045 | +€50,911 | +20.2% |
| Stocks | 30/36 | €252,134 | €303,045 | +€50,911 | +20.2% |
| Amounts receivable within one year | 40/41 | €583,615 | €822,028 | +€238,413 | +40.9% |
| Trade receivables | 40 | €566,740 | €813,221 | +€246,481 | +43.5% |
| Other amounts receivable | 41 | €16,875 | €8,807 | -€8,068 | -47.8% |
| Cash at bank and in hand | 54/58 | €804,646 | €538,497 | -€266,149 | -33.1% |
| Deferred charges and accrued income | 490/1 | - | €308 | +€308 | |
| Total equity and liabilities | 10/49 | €2,121,140 | €2,131,672 | +€10,532 | +0.5% |
| Equity | 10/15 | €1,619,378 | €1,777,189 | +€157,811 | +9.7% |
| Contributions | 10/11 | €612,600 | €612,600 | = | 0.0% |
| Reserves | 13 | €1,006,778 | €1,164,589 | +€157,811 | +15.7% |
| Tax-exempt reserves | 132 | - | €84,200 | +€84,200 | |
| Distributable reserves | 133 | €1,006,778 | €1,080,389 | +€73,611 | +7.3% |
| Provisions and deferred taxes | 16 | €15,000 | €15,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €15,000 | €15,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable | 17/49 | €486,762 | €339,483 | -€147,280 | -30.3% |
| Amounts payable within one year | 42/48 | €486,762 | €339,483 | -€147,280 | -30.3% |
| Trade debts | 44 | €397,140 | €213,919 | -€183,221 | -46.1% |
| Suppliers | 440/4 | €397,140 | €213,919 | -€183,221 | -46.1% |
| Taxes, remuneration and social security | 45 | €87,956 | €115,563 | +€27,607 | +31.4% |
| Taxes | 450/3 | €1,823 | €38,446 | +€36,623 | +2009.2% |
| Remuneration and social security | 454/9 | €86,133 | €77,117 | -€9,016 | -10.5% |
| Other amounts payable | 47/48 | €1,666 | €10,000 | +€8,334 | +500.1% |
| Non-recurring operating income | 76A | €2,986 | €0 | -€2,986 | -100.0% |
| Remuneration, social security and pensions | 62 | €703,820 | €635,776 | -€68,044 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,243 | €99,597 | +€4,354 | +4.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,032 | €13,160 | -€1,872 | -12.5% |
| Other operating charges | 640/8 | €10,003 | €11,260 | +€1,257 | +12.6% |
| Gross operating margin | 9900 | €984,337 | €972,875 | -€11,461 | -1.2% |
| Operating profit (loss) | 9901 | €160,238 | €213,082 | +€52,844 | +33.0% |
| Financial income | 75/76B | €2,841 | €9,286 | +€6,444 | +226.8% |
| Recurring financial income | 75 | €2,841 | €9,286 | +€6,444 | +226.8% |
| Financial charges | 65/66B | €29,117 | €16,632 | -€12,485 | -42.9% |
| Recurring financial charges | 65 | €29,117 | €16,632 | -€12,485 | -42.9% |
| Profit (loss) for the period before taxes | 9903 | €133,963 | €205,736 | +€71,774 | +53.6% |
| Income taxes | 67/77 | €41,823 | €47,925 | +€6,102 | +14.6% |
| Profit (loss) for the period | 9904 | €92,140 | €157,811 | +€65,671 | +71.3% |
| Transfer to tax-exempt reserves | 689 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €92,140 | €73,611 | -€18,529 | -20.1% |
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 10 October 2026 via checked.be.