Solid: 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.
Solid
Largest movements
- Receivables within one year +€340,148
up €340,148 (+30.4%), from €1.1m to €1.5m
of which Other amounts receivable: +€376,219
- Financial fixed assets -€195,480
down €195,480 (-60.0%), from €325,552 to €130,072
- Cash +€134,123
up €134,123 (+80.7%), from €166,104 to €300,227
mainly Accrued charges and deferred income (+€290,664) and Investment in fixed assets (net) (+€195,480)
- Stocks and contracts +€36,374
up €36,374 (+44.5%), from €81,707 to €118,081
- Deferred charges and accrued income -€27,209
no longer reported in 2025 (was €27,209)
- Accrued charges and deferred income +€290,664
new in 2025: €290,664
- Profit (loss) carried forward +€64,523
up €64,523 (+13.3%), from €483,520 to €548,043
- Debts within one year -€55,831
down €55,831 (-4.5%), from €1.2m to €1.2m
of which Trade debts: -€54,537
- Debts after one year -€31,124
down €31,124 (-10.5%), from €297,499 to €266,375
- Gross operating margin -€108,718
down €108,718 (-23.3%), from €466,985 to €358,267
- Staff costs -€107,925
down €107,925 (-31.6%), from €341,102 to €233,177
- Financial charges +€39,715
up €39,715 (+345%), from €11,523 to €51,238
- Financial income +€7,188
up €7,188 (+85.3%), from €8,423 to €15,611
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 | €2,162,188 | €2,430,420 | +€268,232 | +12.4% |
| Fixed assets | 21/28 | €769,576 | €554,372 | -€215,204 | -28.0% |
| Intangible fixed assets | 21 | €6,273 | €2,015 | -€4,258 | -67.9% |
| Tangible fixed assets | 22/27 | €437,751 | €422,285 | -€15,466 | -3.5% |
| Land and buildings | 22 | €437,085 | €421,269 | -€15,816 | -3.6% |
| Plant, machinery and equipment | 23 | €666 | €1,016 | +€350 | +52.6% |
| Financial fixed assets | 28 | €325,552 | €130,072 | -€195,480 | -60.0% |
| Current assets | 29/58 | €1,392,612 | €1,876,048 | +€483,436 | +34.7% |
| Stocks and contracts in progress | 3 | €81,707 | €118,081 | +€36,374 | +44.5% |
| Stocks | 30/36 | €81,707 | €118,081 | +€36,374 | +44.5% |
| Amounts receivable within one year | 40/41 | €1,117,592 | €1,457,740 | +€340,148 | +30.4% |
| Trade receivables | 40 | €99,327 | €63,256 | -€36,071 | -36.3% |
| Other amounts receivable | 41 | €1,018,265 | €1,394,484 | +€376,219 | +36.9% |
| Cash at bank and in hand | 54/58 | €166,104 | €300,227 | +€134,123 | +80.7% |
| Deferred charges and accrued income | 490/1 | €27,209 | - | -€27,209 | |
| Total equity and liabilities | 10/49 | €2,162,188 | €2,430,420 | +€268,232 | +12.4% |
| Equity | 10/15 | €626,631 | €691,154 | +€64,523 | +10.3% |
| Contributions | 10/11 | €142,400 | €142,400 | = | 0.0% |
| Capital | 10 | €142,400 | €142,400 | = | 0.0% |
| Revaluation surpluses | 12 | €426 | €426 | = | 0.0% |
| Reserves | 13 | €285 | €285 | = | 0.0% |
| Profit (loss) carried forward | 14 | €483,520 | €548,043 | +€64,523 | +13.3% |
| Amounts payable | 17/49 | €1,535,557 | €1,739,266 | +€203,709 | +13.3% |
| Amounts payable after more than one year | 17 | €297,499 | €266,375 | -€31,124 | -10.5% |
| Financial debts | 170/4 | €297,499 | €266,375 | -€31,124 | -10.5% |
| Amounts payable within one year | 42/48 | €1,238,058 | €1,182,227 | -€55,831 | -4.5% |
| Financial debts | 43 | €30,435 | €31,124 | +€689 | +2.3% |
| Credit institutions | 430/8 | €30,435 | €31,124 | +€689 | +2.3% |
| Trade debts | 44 | €100,798 | €46,261 | -€54,537 | -54.1% |
| Suppliers | 440/4 | €100,798 | €46,261 | -€54,537 | -54.1% |
| Taxes, remuneration and social security | 45 | €22,690 | €36,754 | +€14,064 | +62.0% |
| Taxes | 450/3 | - | €9,158 | +€9,158 | |
| Remuneration and social security | 454/9 | €22,690 | €27,596 | +€4,906 | +21.6% |
| Accrued charges and deferred income | 492/3 | - | €290,664 | +€290,664 | |
| Remuneration, social security and pensions | 62 | €341,102 | €233,177 | -€107,925 | -31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,046 | €19,724 | -€2,322 | -10.5% |
| Other operating charges | 640/8 | €4,541 | €5,216 | +€675 | +14.9% |
| Gross operating margin | 9900 | €466,985 | €358,267 | -€108,718 | -23.3% |
| Operating profit (loss) | 9901 | €99,296 | €100,150 | +€854 | +0.9% |
| Financial income | 75/76B | €8,423 | €15,611 | +€7,188 | +85.3% |
| Recurring financial income | 75 | €8,423 | €15,611 | +€7,188 | +85.3% |
| Financial charges | 65/66B | €11,523 | €51,238 | +€39,715 | +345% |
| Recurring financial charges | 65 | €11,523 | €51,238 | +€39,715 | +345% |
| Profit (loss) for the period before taxes | 9903 | €96,196 | €64,523 | -€31,673 | -32.9% |
| Profit (loss) for the period | 9904 | €96,196 | €64,523 | -€31,673 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €96,196 | €64,523 | -€31,673 | -32.9% |
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 14 October 2026 via checked.be.