Sounds Better: 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.
Sounds Better
Largest movements
- Receivables within one year +€63,535
up €63,535 (+48.0%), from €132,263 to €195,798
of which Trade receivables: +€77,106
- Tangible fixed assets +€52,048
up €52,048 (+11.7%), from €443,360 to €495,409
of which Land and buildings: +€29,758
- Stocks and contracts -€32,564
down €32,564 (-20.1%), from €161,654 to €129,091
of which Contracts in progress: -€26,770
- Cash +€13,051
up €13,051 (+42.1%), from €31,033 to €44,084
mainly Short-term financial debts (+€125,000) and Depreciation (+€45,939)
- Short-term financial debts +€125,000
new in 2025: €125,000
- Trade debts -€70,816
down €70,816 (-43.3%), from €163,674 to €92,858
- Debts after one year +€29,852
up €29,852 (+7.4%), from €403,181 to €433,034
- Profit (loss) carried forward +€10,540
up €10,540 (+22.2%), from -€47,504 to -€36,964
- Gross operating margin -€68,279
down €68,279 (-15.0%), from €455,333 to €387,055
- Staff costs -€45,259
down €45,259 (-12.6%), from €359,221 to €313,962
- Financial income +€13,409
up €13,409 (+939%), from €1,428 to €14,837
- Depreciation +€8,259
up €8,259 (+21.9%), from €37,680 to €45,939
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 | €779,404 | €873,120 | +€93,716 | +12.0% |
| Fixed assets | 21/28 | €446,360 | €501,863 | +€55,503 | +12.4% |
| Intangible fixed assets | 21 | €3,000 | €6,455 | +€3,455 | +115% |
| Tangible fixed assets | 22/27 | €443,360 | €495,409 | +€52,048 | +11.7% |
| Land and buildings | 22 | €386,218 | €415,976 | +€29,758 | +7.7% |
| Plant, machinery and equipment | 23 | €1,356 | €30,023 | +€28,668 | +2,115% |
| Furniture and vehicles | 24 | €55,786 | €49,410 | -€6,377 | -11.4% |
| Current assets | 29/58 | €333,044 | €371,257 | +€38,213 | +11.5% |
| Stocks and contracts in progress | 3 | €161,654 | €129,091 | -€32,564 | -20.1% |
| Stocks | 30/36 | €83,885 | €78,091 | -€5,794 | -6.9% |
| Contracts in progress | 37 | €77,770 | €51,000 | -€26,770 | -34.4% |
| Amounts receivable within one year | 40/41 | €132,263 | €195,798 | +€63,535 | +48.0% |
| Trade receivables | 40 | €98,618 | €175,724 | +€77,106 | +78.2% |
| Other amounts receivable | 41 | €33,645 | €20,074 | -€13,571 | -40.3% |
| Cash at bank and in hand | 54/58 | €31,033 | €44,084 | +€13,051 | +42.1% |
| Deferred charges and accrued income | 490/1 | €8,094 | €2,285 | -€5,809 | -71.8% |
| Total equity and liabilities | 10/49 | €779,404 | €873,120 | +€93,716 | +12.0% |
| Equity | 10/15 | €48,318 | €58,858 | +€10,540 | +21.8% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €89,522 | €89,522 | = | 0.0% |
| Distributable reserves | 133 | €89,522 | €89,522 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€47,504 | -€36,964 | +€10,540 | +22.2% |
| Amounts payable | 17/49 | €731,086 | €814,262 | +€83,176 | +11.4% |
| Amounts payable after more than one year | 17 | €403,181 | €433,034 | +€29,852 | +7.4% |
| Financial debts | 170/4 | €403,181 | €433,034 | +€29,852 | +7.4% |
| Amounts payable within one year | 42/48 | €324,673 | €377,993 | +€53,321 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €43,376 | €49,393 | +€6,017 | +13.9% |
| Financial debts | 43 | - | €125,000 | +€125,000 | |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Trade debts | 44 | €163,674 | €92,858 | -€70,816 | -43.3% |
| Suppliers | 440/4 | €163,674 | €92,858 | -€70,816 | -43.3% |
| Taxes, remuneration and social security | 45 | €8,791 | €9,117 | +€326 | +3.7% |
| Taxes | 450/3 | €392 | €389 | -€4 | -1.0% |
| Remuneration and social security | 454/9 | €8,398 | €8,728 | +€330 | +3.9% |
| Other amounts payable | 47/48 | €108,832 | €101,626 | -€7,207 | -6.6% |
| Accrued charges and deferred income | 492/3 | €3,232 | €3,235 | +€3 | +0.1% |
| Remuneration, social security and pensions | 62 | €359,221 | €313,962 | -€45,259 | -12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,680 | €45,939 | +€8,259 | +21.9% |
| Other operating charges | 640/8 | €2,863 | €3,467 | +€604 | +21.1% |
| Gross operating margin | 9900 | €455,333 | €387,055 | -€68,279 | -15.0% |
| Operating profit (loss) | 9901 | €55,570 | €23,686 | -€31,883 | -57.4% |
| Financial income | 75/76B | €1,428 | €14,837 | +€13,409 | +939% |
| Recurring financial income | 75 | €1,428 | €14,837 | +€13,409 | +939% |
| Financial charges | 65/66B | €29,097 | €27,814 | -€1,283 | -4.4% |
| Recurring financial charges | 65 | €29,097 | €27,814 | -€1,283 | -4.4% |
| Profit (loss) for the period before taxes | 9903 | €27,901 | €10,710 | -€17,191 | -61.6% |
| Income taxes | 67/77 | €240 | €170 | -€70 | -29.1% |
| Profit (loss) for the period | 9904 | €27,661 | €10,540 | -€17,121 | -61.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,661 | €10,540 | -€17,121 | -61.9% |
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 19 October 2026 via checked.be.