Special Trading: 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.
Special Trading
Largest movements
- Receivables within one year -€46,497
down €46,497 (-29.1%), from €159,837 to €113,340
of which Trade receivables: -€74,670
- Cash +€26,219
up €26,219 (+16.4%), from €159,713 to €185,932
mainly Depreciation (+€63,498) and Receivables within one year (+€46,497)
- Tangible fixed assets +€6,121
up €6,121 (+5.5%), from €110,452 to €116,574
of which Furniture and vehicles: +€20,774
- Tax, wage and social debts -€14,308
down €14,308 (-91.8%), from €15,593 to €1,285
- Debts after one year -€8,366
down €8,366 (-39.1%), from €21,386 to €13,020
- Depreciation -€7,127
down €7,127 (-10.1%), from €70,625 to €63,498
- Other operating charges +€1,821
up €1,821 (+232%), from €785 to €2,605
- Gross operating margin +€1,443
up €1,443 (+2.1%), from €70,385 to €71,828
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 | €516,973 | €496,639 | -€20,335 | -3.9% |
| Fixed assets | 21/28 | €110,857 | €116,979 | +€6,121 | +5.5% |
| Tangible fixed assets | 22/27 | €110,452 | €116,574 | +€6,121 | +5.5% |
| Plant, machinery and equipment | 23 | €43,742 | €32,456 | -€11,286 | -25.8% |
| Furniture and vehicles | 24 | €21,527 | €42,301 | +€20,774 | +96.5% |
| Leasing and similar rights | 25 | €45,183 | €41,817 | -€3,367 | -7.5% |
| Financial fixed assets | 28 | €405 | €405 | = | 0.0% |
| Current assets | 29/58 | €406,116 | €379,660 | -€26,456 | -6.5% |
| Stocks and contracts in progress | 3 | €75,285 | €72,330 | -€2,955 | -3.9% |
| Stocks | 30/36 | €75,285 | €72,330 | -€2,955 | -3.9% |
| Amounts receivable within one year | 40/41 | €159,837 | €113,340 | -€46,497 | -29.1% |
| Trade receivables | 40 | €107,727 | €33,057 | -€74,670 | -69.3% |
| Other amounts receivable | 41 | €52,110 | €80,283 | +€28,173 | +54.1% |
| Cash at bank and in hand | 54/58 | €159,713 | €185,932 | +€26,219 | +16.4% |
| Deferred charges and accrued income | 490/1 | €11,281 | €8,058 | -€3,223 | -28.6% |
| Total equity and liabilities | 10/49 | €516,973 | €496,639 | -€20,335 | -3.9% |
| Equity | 10/15 | €372,974 | €376,464 | +€3,491 | +0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €354,374 | €357,864 | +€3,491 | +1.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €354,374 | €357,864 | +€3,491 | +1.0% |
| Amounts payable | 17/49 | €144,000 | €120,174 | -€23,826 | -16.5% |
| Amounts payable after more than one year | 17 | €21,386 | €13,020 | -€8,366 | -39.1% |
| Financial debts | 170/4 | €21,386 | €13,020 | -€8,366 | -39.1% |
| Amounts payable within one year | 42/48 | €122,614 | €107,154 | -€15,459 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €25,905 | €28,807 | +€2,902 | +11.2% |
| Trade debts | 44 | €53,930 | €51,525 | -€2,405 | -4.5% |
| Suppliers | 440/4 | €53,930 | €51,525 | -€2,405 | -4.5% |
| Taxes, remuneration and social security | 45 | €15,593 | €1,285 | -€14,308 | -91.8% |
| Taxes | 450/3 | €15,593 | €1,285 | -€14,308 | -91.8% |
| Other amounts payable | 47/48 | €27,185 | €25,537 | -€1,648 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,625 | €63,498 | -€7,127 | -10.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€140 | €0 | +€140 | |
| Other operating charges | 640/8 | €785 | €2,605 | +€1,821 | +232% |
| Gross operating margin | 9900 | €70,385 | €71,828 | +€1,443 | +2.1% |
| Operating profit (loss) | 9901 | -€884 | €5,725 | +€6,609 | |
| Financial income | 75/76B | €10 | €0 | -€10 | -99.3% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -99.3% |
| Financial charges | 65/66B | €1,205 | €1,719 | +€513 | +42.6% |
| Recurring financial charges | 65 | €1,205 | €1,719 | +€513 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | -€2,080 | €4,007 | +€6,086 | |
| Income taxes | 67/77 | €164 | €516 | +€351 | +214% |
| Profit (loss) for the period | 9904 | -€2,244 | €3,491 | +€5,735 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,244 | €3,491 | +€5,735 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.