ST-VIDEO: 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.
ST-VIDEO
Largest movements
- Receivables within one year +€14,389
up €14,389 (+61.0%), from €23,599 to €37,988
of which Trade receivables: +€14,848
- Cash -€9,319
down €9,319 (-27.9%), from €33,447 to €24,128
mainly Receivables within one year (-€14,389) and Trade debts (-€9,030)
- Deferred charges and accrued income -€6,200
down €6,200 (-59.9%), from €10,348 to €4,148
- Trade debts -€9,030
down €9,030 (-59.4%), from €15,192 to €6,162
- Reserves +€5,654
up €5,654 (+9.0%), from €63,120 to €68,774
- Other debts +€2,470
up €2,470 (+40.1%), from €6,166 to €8,636
- Gross operating margin -€11,512
down €11,512 (-43.3%), from €26,568 to €15,056
- Taxes -€2,851
down €2,851 (-38.2%), from €7,467 to €4,616
- Depreciation +€593
up €593 (+34.1%), from €1,742 to €2,335
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 | €92,505 | €90,788 | -€1,717 | -1.9% |
| Fixed assets | 21/28 | €5,111 | €4,404 | -€707 | -13.8% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €5,066 | €4,359 | -€707 | -14.0% |
| Plant, machinery and equipment | 23 | €2,514 | €3,600 | +€1,086 | +43.2% |
| Furniture and vehicles | 24 | €2,552 | €759 | -€1,793 | -70.3% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €87,394 | €86,384 | -€1,010 | -1.2% |
| Amounts receivable within one year | 40/41 | €23,599 | €37,988 | +€14,389 | +61.0% |
| Trade receivables | 40 | €20,704 | €35,552 | +€14,848 | +71.7% |
| Other amounts receivable | 41 | €2,895 | €2,436 | -€459 | -15.9% |
| Current investments | 50/53 | €20,000 | €20,120 | +€120 | +0.6% |
| Cash at bank and in hand | 54/58 | €33,447 | €24,128 | -€9,319 | -27.9% |
| Deferred charges and accrued income | 490/1 | €10,348 | €4,148 | -€6,200 | -59.9% |
| Total equity and liabilities | 10/49 | €92,505 | €90,788 | -€1,717 | -1.9% |
| Equity | 10/15 | €63,120 | €68,774 | +€5,654 | +9.0% |
| Reserves | 13 | €63,120 | €68,774 | +€5,654 | +9.0% |
| Distributable reserves | 133 | €63,120 | €68,774 | +€5,654 | +9.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €29,385 | €22,014 | -€7,371 | -25.1% |
| Amounts payable within one year | 42/48 | €29,385 | €22,014 | -€7,371 | -25.1% |
| Financial debts | 43 | €535 | - | -€535 | |
| Credit institutions | 430/8 | €535 | €0 | -€535 | -100% |
| Trade debts | 44 | €15,192 | €6,162 | -€9,030 | -59.4% |
| Suppliers | 440/4 | €15,192 | €6,162 | -€9,030 | -59.4% |
| Taxes, remuneration and social security | 45 | €7,492 | €7,216 | -€276 | -3.7% |
| Taxes | 450/3 | €7,492 | €7,216 | -€276 | -3.7% |
| Other amounts payable | 47/48 | €6,166 | €8,636 | +€2,470 | +40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,742 | €2,335 | +€593 | +34.1% |
| Other operating charges | 640/8 | €614 | €551 | -€63 | -10.3% |
| Gross operating margin | 9900 | €26,568 | €15,056 | -€11,512 | -43.3% |
| Operating profit (loss) | 9901 | €24,212 | €12,170 | -€12,042 | -49.7% |
| Financial income | 75/76B | €0 | €172 | +€172 | +573,233% |
| Recurring financial income | 75 | €0 | €172 | +€172 | +573,233% |
| Financial charges | 65/66B | €151 | €268 | +€117 | +77.4% |
| Recurring financial charges | 65 | €151 | €268 | +€117 | +77.4% |
| Profit (loss) for the period before taxes | 9903 | €24,061 | €12,074 | -€11,987 | -49.8% |
| Income taxes | 67/77 | €7,467 | €4,616 | -€2,851 | -38.2% |
| Profit (loss) for the period | 9904 | €16,594 | €7,458 | -€9,136 | -55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,594 | €7,458 | -€9,136 | -55.1% |
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.