SPECIAL BEAUTIFULL: what changed
SPECIAL BEAUTIFULL
Largest movements
- Receivables within one year -€238,461
down €238,461 (-46.4%), from €513,600 to €275,139
of which Trade receivables: -€276,732
- Stocks and contracts +€76,850
up €76,850 (+28.5%), from €269,458 to €346,308
- Tangible fixed assets +€72,971
up €72,971 (+123%), from €59,556 to €132,528
of which Furniture and vehicles: +€72,899
- Cash -€15,416
down €15,416 (-15.4%), from €99,948 to €84,532
mainly Trade debts (-€203,032) and Investment in fixed assets (net) (-€106,064)
- Trade debts -€203,032
down €203,032 (-64.6%), from €314,503 to €111,472
- Current portion of long-term debt +€38,149
new in 2025: €38,149
- Debts after one year +€34,274
up €34,274 (+93.0%), from €36,871 to €71,145
- Reserves +€25,000
up €25,000 (+1,344%), from €1,860 to €26,860
of which Distributable reserves: +€25,000
- Staff costs +€79,488
up €79,488 (+55.9%), from €142,073 to €221,561
- Gross operating margin +€77,377
up €77,377 (+33.5%), from €231,005 to €308,382
- Depreciation -€13,759
down €13,759 (-29.4%), from €46,852 to €33,092
- Financial income -€6,287
down €6,287 (-80.9%), from €7,773 to €1,486
- Financial charges +€5,516
up €5,516 (+1,260%), from €438 to €5,954
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €957,791 | €853,810 | -€103,981 | -10.9% |
| Fixed assets | 21/28 | €71,056 | €144,028 | +€72,971 | +103% |
| Tangible fixed assets | 22/27 | €59,556 | €132,528 | +€72,971 | +123% |
| Plant, machinery and equipment | 23 | €5,098 | €5,170 | +€73 | +1.4% |
| Furniture and vehicles | 24 | €54,459 | €127,358 | +€72,899 | +134% |
| Financial fixed assets | 28 | €11,500 | €11,500 | = | 0.0% |
| Current assets | 29/58 | €886,734 | €709,782 | -€176,952 | -20.0% |
| Stocks and contracts in progress | 3 | €269,458 | €346,308 | +€76,850 | +28.5% |
| Stocks | 30/36 | €269,458 | €346,308 | +€76,850 | +28.5% |
| Amounts receivable within one year | 40/41 | €513,600 | €275,139 | -€238,461 | -46.4% |
| Trade receivables | 40 | €506,601 | €229,869 | -€276,732 | -54.6% |
| Other amounts receivable | 41 | €7,000 | €45,270 | +€38,271 | +547% |
| Cash at bank and in hand | 54/58 | €99,948 | €84,532 | -€15,416 | -15.4% |
| Deferred charges and accrued income | 490/1 | €3,728 | €3,803 | +€75 | +2.0% |
| Total equity and liabilities | 10/49 | €957,791 | €853,810 | -€103,981 | -10.9% |
| Equity | 10/15 | €528,785 | €557,962 | +€29,177 | +5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €26,860 | +€25,000 | +1,344% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €25,000 | +€25,000 | |
| Profit (loss) carried forward | 14 | €508,325 | €512,502 | +€4,177 | +0.8% |
| Amounts payable | 17/49 | €429,006 | €295,848 | -€133,158 | -31.0% |
| Amounts payable after more than one year | 17 | €36,871 | €71,145 | +€34,274 | +93.0% |
| Financial debts | 170/4 | €36,871 | €71,145 | +€34,274 | +93.0% |
| Amounts payable within one year | 42/48 | €392,135 | €224,703 | -€167,432 | -42.7% |
| Current portion of amounts payable after more than one year | 42 | - | €38,149 | +€38,149 | |
| Trade debts | 44 | €314,503 | €111,472 | -€203,032 | -64.6% |
| Suppliers | 440/4 | €314,503 | €111,472 | -€203,032 | -64.6% |
| Taxes, remuneration and social security | 45 | €77,632 | €75,082 | -€2,549 | -3.3% |
| Taxes | 450/3 | €55,488 | €35,184 | -€20,304 | -36.6% |
| Remuneration and social security | 454/9 | €22,144 | €39,898 | +€17,754 | +80.2% |
| Remuneration, social security and pensions | 62 | €142,073 | €221,561 | +€79,488 | +55.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,852 | €33,092 | -€13,759 | -29.4% |
| Other operating charges | 640/8 | €5,387 | €4,789 | -€598 | -11.1% |
| Gross operating margin | 9900 | €231,005 | €308,382 | +€77,377 | +33.5% |
| Operating profit (loss) | 9901 | €36,694 | €48,940 | +€12,246 | +33.4% |
| Financial income | 75/76B | €7,773 | €1,486 | -€6,287 | -80.9% |
| Recurring financial income | 75 | €7,773 | €1,486 | -€6,287 | -80.9% |
| Financial charges | 65/66B | €438 | €5,954 | +€5,516 | +1,260% |
| Recurring financial charges | 65 | €438 | €5,954 | +€5,516 | +1,260% |
| Profit (loss) for the period before taxes | 9903 | €44,029 | €44,472 | +€444 | +1.0% |
| Income taxes | 67/77 | €12,479 | €15,295 | +€2,816 | +22.6% |
| Profit (loss) for the period | 9904 | €31,550 | €29,177 | -€2,372 | -7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €31,550 | €29,177 | -€2,372 | -7.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.