SOLID ALGEMENE AANNEMINGEN: what changed
Two fiscal 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 ALGEMENE AANNEMINGEN
Largest movements
- Cash -€110,548
down €110,548 (-88.4%), from €125,012 to €14,464
mainly Debts after one year (-€52,039) and Trade debts (-€49,510)
- Receivables within one year -€56,555
down €56,555 (-17.2%), from €329,181 to €272,626
of which Trade receivables: -€42,101
- Formation expenses +€21,285
up €21,285 (+76.6%), from €27,783 to €49,068
- Tangible fixed assets -€9,919
down €9,919 (-36.2%), from €27,370 to €17,451
of which Leasing and similar rights: -€12,470
- Debts after one year -€52,039
down €52,039 (-46.7%), from €111,399 to €59,361
- Trade debts -€49,510
down €49,510 (-11.7%), from €423,057 to €373,547
- Reserves -€22,098
no longer reported in 2025 (was €22,098)
- Profit (loss) carried forward -€12,936
new in 2025: -€12,936
- Tax, wage and social debts -€12,366
down €12,366 (-55.9%), from €22,117 to €9,750
of which Remuneration and social security: -€12,666
- Staff costs -€31,647
down €31,647 (-23.8%), from €132,839 to €101,192
- Gross operating margin -€25,905
down €25,905 (-20.0%), from €129,246 to €103,341
- Other operating charges +€2,040
up €2,040 (+143.1%), from €1,426 to €3,466
- Depreciation +€1,518
up €1,518 (+7.4%), from €20,425 to €21,943
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 | €648,686 | €488,769 | -€159,917 | -24.7% |
| Formation expenses | 20 | €27,783 | €49,068 | +€21,285 | +76.6% |
| Fixed assets | 21/28 | €27,605 | €17,686 | -€9,919 | -35.9% |
| Tangible fixed assets | 22/27 | €27,370 | €17,451 | -€9,919 | -36.2% |
| Plant, machinery and equipment | 23 | €4,315 | €2,437 | -€1,878 | -43.5% |
| Furniture and vehicles | 24 | €1,591 | €6,020 | +€4,429 | +278.3% |
| Leasing and similar rights | 25 | €21,464 | €8,994 | -€12,470 | -58.1% |
| Financial fixed assets | 28 | €235 | €235 | = | 0.0% |
| Current assets | 29/58 | €593,298 | €422,015 | -€171,283 | -28.9% |
| Stocks and contracts in progress | 3 | €128,500 | €127,500 | -€1,000 | -0.8% |
| Stocks | 30/36 | €3,500 | €2,500 | -€1,000 | -28.6% |
| Contracts in progress | 37 | €125,000 | €125,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €329,181 | €272,626 | -€56,555 | -17.2% |
| Trade receivables | 40 | €295,650 | €253,549 | -€42,101 | -14.2% |
| Other amounts receivable | 41 | €33,531 | €19,077 | -€14,454 | -43.1% |
| Cash at bank and in hand | 54/58 | €125,012 | €14,464 | -€110,548 | -88.4% |
| Deferred charges and accrued income | 490/1 | €10,605 | €7,425 | -€3,180 | -30.0% |
| Total equity and liabilities | 10/49 | €648,686 | €488,769 | -€159,917 | -24.7% |
| Equity | 10/15 | €25,098 | -€9,936 | -€35,033 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €22,098 | - | -€22,098 | |
| Distributable reserves | 133 | €22,098 | - | -€22,098 | |
| Profit (loss) carried forward | 14 | - | -€12,936 | -€12,936 | |
| Amounts payable | 17/49 | €623,588 | €498,704 | -€124,884 | -20.0% |
| Amounts payable after more than one year | 17 | €111,399 | €59,361 | -€52,039 | -46.7% |
| Financial debts | 170/4 | €111,399 | €59,361 | -€52,039 | -46.7% |
| Amounts payable within one year | 42/48 | €512,127 | €439,282 | -€72,845 | -14.2% |
| Current portion of amounts payable after more than one year | 42 | €59,233 | €52,039 | -€7,195 | -12.1% |
| Trade debts | 44 | €423,057 | €373,547 | -€49,510 | -11.7% |
| Suppliers | 440/4 | €423,057 | €373,547 | -€49,510 | -11.7% |
| Advances received on contracts in progress | 46 | €3,924 | - | -€3,924 | |
| Taxes, remuneration and social security | 45 | €22,117 | €9,750 | -€12,366 | -55.9% |
| Taxes | 450/3 | €3,244 | €3,544 | +€300 | +9.3% |
| Remuneration and social security | 454/9 | €18,872 | €6,206 | -€12,666 | -67.1% |
| Other amounts payable | 47/48 | €3,796 | €3,946 | +€150 | +3.9% |
| Accrued charges and deferred income | 492/3 | €62 | €62 | = | 0.0% |
| Non-recurring operating income | 76A | €37,285 | €17,500 | -€19,785 | -53.1% |
| Remuneration, social security and pensions | 62 | €132,839 | €101,192 | -€31,647 | -23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,425 | €21,943 | +€1,518 | +7.4% |
| Other operating charges | 640/8 | €1,426 | €3,466 | +€2,040 | +143.1% |
| Non-recurring operating charges | 66A | €30,961 | - | -€30,961 | |
| Gross operating margin | 9900 | €129,246 | €103,341 | -€25,905 | -20.0% |
| Operating profit (loss) | 9901 | -€56,405 | -€23,260 | +€33,145 | +58.8% |
| Financial income | 75/76B | - | €918 | +€918 | |
| Recurring financial income | 75 | - | €918 | +€918 | |
| Financial charges | 65/66B | €13,386 | €12,490 | -€896 | -6.7% |
| Recurring financial charges | 65 | €13,386 | €12,490 | -€896 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | -€69,792 | -€34,833 | +€34,959 | +50.1% |
| Income taxes | 67/77 | €210 | €201 | -€9 | -4.4% |
| Profit (loss) for the period | 9904 | -€70,002 | -€35,033 | +€34,968 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€70,002 | -€35,033 | +€34,968 | +50.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.