Specified: 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.
Specified
Largest movements
- Receivables within one year +€110,301
up €110,301 (+25.4%), from €434,438 to €544,739
of which Trade receivables: +€110,432
- Cash -€90,289
down €90,289 (-92.0%), from €98,177 to €7,889
mainly Receivables within one year (-€110,301) and Other debts (-€101,499)
- Other debts -€101,499
down €101,499 (-78.1%), from €129,894 to €28,395
- Reserves +€45,200
new in 2025: €45,200
of which Distributable reserves: +€39,000
- Profit (loss) carried forward +€32,504
up €32,504, from -€31,672 to €832
- Trade debts +€30,644
up €30,644 (+9.5%), from €322,016 to €352,660
- Tax, wage and social debts +€19,105
up €19,105 (+34.1%), from €55,953 to €75,058
of which Remuneration and social security: +€20,914
- Turnover +€238,577
up €238,577 (+9.6%), from €2.5m to €2.7m
- Staff costs +€192,613
up €192,613 (+84.7%), from €227,485 to €420,098
- Gross operating margin +€164,374
up €164,374 (+44.4%), from €370,248 to €534,622
- Purchases and services +€73,512
up €73,512 (+3.4%), from €2.1m to €2.2m
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 | €538,233 | €564,483 | +€26,250 | +4.9% |
| Fixed assets | 21/28 | - | €883 | +€883 | |
| Tangible fixed assets | 22/27 | - | €883 | +€883 | |
| Plant, machinery and equipment | 23 | - | €883 | +€883 | |
| Current assets | 29/58 | €538,233 | €563,600 | +€25,367 | +4.7% |
| Amounts receivable within one year | 40/41 | €434,438 | €544,739 | +€110,301 | +25.4% |
| Trade receivables | 40 | €434,306 | €544,739 | +€110,432 | +25.4% |
| Other amounts receivable | 41 | €131 | - | -€131 | |
| Cash at bank and in hand | 54/58 | €98,177 | €7,889 | -€90,289 | -92.0% |
| Deferred charges and accrued income | 490/1 | €5,618 | €10,973 | +€5,355 | +95.3% |
| Total equity and liabilities | 10/49 | €538,233 | €564,483 | +€26,250 | +4.9% |
| Equity | 10/15 | €30,328 | €108,032 | +€77,704 | +256.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | - | €45,200 | +€45,200 | |
| Non-distributable reserves | 130/1 | - | €6,200 | +€6,200 | |
| Legal reserve | 130 | - | €6,200 | +€6,200 | |
| Distributable reserves | 133 | - | €39,000 | +€39,000 | |
| Profit (loss) carried forward | 14 | -€31,672 | €832 | +€32,504 | |
| Provisions and deferred taxes | 16 | - | €188 | +€188 | |
| Provisions for liabilities and charges | 160/5 | - | €188 | +€188 | |
| Pensions and similar obligations | 160 | - | €188 | +€188 | |
| Amounts payable | 17/49 | €507,905 | €456,263 | -€51,642 | -10.2% |
| Amounts payable within one year | 42/48 | €507,864 | €456,114 | -€51,750 | -10.2% |
| Trade debts | 44 | €322,016 | €352,660 | +€30,644 | +9.5% |
| Suppliers | 440/4 | €322,016 | €352,660 | +€30,644 | +9.5% |
| Taxes, remuneration and social security | 45 | €55,953 | €75,058 | +€19,105 | +34.1% |
| Taxes | 450/3 | €29,862 | €28,053 | -€1,809 | -6.1% |
| Remuneration and social security | 454/9 | €26,091 | €47,005 | +€20,914 | +80.2% |
| Other amounts payable | 47/48 | €129,894 | €28,395 | -€101,499 | -78.1% |
| Accrued charges and deferred income | 492/3 | €42 | €149 | +€107 | +258.4% |
| Turnover | 70 | €2,479,677 | €2,718,254 | +€238,577 | +9.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €2,136,205 | €2,209,717 | +€73,512 | +3.4% |
| Remuneration, social security and pensions | 62 | €227,485 | €420,098 | +€192,613 | +84.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €571 | €1 | -€570 | -99.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €188 | +€188 | |
| Other operating charges | 640/8 | €1,878 | €2,078 | +€200 | +10.7% |
| Gross operating margin | 9900 | €370,248 | €534,622 | +€164,374 | +44.4% |
| Operating profit (loss) | 9901 | €140,315 | €112,258 | -€28,057 | -20.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €12,908 | €10,124 | -€2,784 | -21.6% |
| Recurring financial charges | 65 | €12,908 | €10,124 | -€2,784 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €127,407 | €102,134 | -€25,273 | -19.8% |
| Income taxes | 67/77 | €474 | €24,430 | +€23,956 | +5050.8% |
| Profit (loss) for the period | 9904 | €126,933 | €77,704 | -€49,229 | -38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €126,933 | €77,704 | -€49,229 | -38.8% |
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 29 September 2026 via checked.be.