STATEMENT OF WORK: 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.
STATEMENT OF WORK
Largest movements
- Receivables within one year -€27,155
down €27,155 (-62.7%), from €43,281 to €16,126
of which Trade receivables: -€27,171
- Tangible fixed assets -€10,922
down €10,922 (-12.8%), from €85,507 to €74,585
of which Furniture and vehicles: -€6,489
- Debts after one year -€45,235
down €45,235 (-100%), from €45,235 to €0
- Reserves +€30,522
up €30,522 (+28.4%), from €107,349 to €137,872
- Current portion of long-term debt -€11,143
down €11,143 (-100%), from €11,143 to €0
- Other debts -€5,116
down €5,116 (-80.3%), from €6,368 to €1,251
- Trade debts -€4,615
down €4,615 (-80.9%), from €5,704 to €1,088
- Gross operating margin -€6,972
down €6,972 (-7.6%), from €92,245 to €85,274
- Staff costs +€4,952
up €4,952 (+30.7%), from €16,110 to €21,062
- Taxes -€3,546
down €3,546 (-20.2%), from €17,530 to €13,984
- Financial charges +€1,565
up €1,565 (+43.4%), from €3,603 to €5,167
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 | €210,745 | €174,211 | -€36,534 | -17.3% |
| Fixed assets | 21/28 | €85,776 | €74,853 | -€10,922 | -12.7% |
| Tangible fixed assets | 22/27 | €85,507 | €74,585 | -€10,922 | -12.8% |
| Land and buildings | 22 | €73,486 | €69,880 | -€3,606 | -4.9% |
| Plant, machinery and equipment | 23 | €1,372 | €544 | -€827 | -60.3% |
| Furniture and vehicles | 24 | €10,650 | €4,160 | -€6,489 | -60.9% |
| Financial fixed assets | 28 | €269 | €269 | = | 0.0% |
| Current assets | 29/58 | €124,969 | €99,358 | -€25,611 | -20.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €43,281 | €16,126 | -€27,155 | -62.7% |
| Trade receivables | 40 | €40,811 | €13,640 | -€27,171 | -66.6% |
| Other amounts receivable | 41 | €2,470 | €2,485 | +€16 | +0.6% |
| Cash at bank and in hand | 54/58 | €81,275 | €81,979 | +€704 | +0.9% |
| Deferred charges and accrued income | 490/1 | €413 | €1,253 | +€840 | +203% |
| Total equity and liabilities | 10/49 | €210,745 | €174,211 | -€36,534 | -17.3% |
| Equity | 10/15 | €125,949 | €156,472 | +€30,522 | +24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €107,349 | €137,872 | +€30,522 | +28.4% |
| Distributable reserves | 133 | €107,349 | €137,872 | +€30,522 | +28.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €84,795 | €17,739 | -€67,056 | -79.1% |
| Amounts payable after more than one year | 17 | €45,235 | €0 | -€45,235 | -100% |
| Financial debts | 170/4 | €45,235 | €0 | -€45,235 | -100% |
| Amounts payable within one year | 42/48 | €39,560 | €17,739 | -€21,821 | -55.2% |
| Current portion of amounts payable after more than one year | 42 | €11,143 | €0 | -€11,143 | -100% |
| Trade debts | 44 | €5,704 | €1,088 | -€4,615 | -80.9% |
| Suppliers | 440/4 | €5,704 | €1,088 | -€4,615 | -80.9% |
| Taxes, remuneration and social security | 45 | €16,346 | €15,399 | -€947 | -5.8% |
| Taxes | 450/3 | €11,871 | €9,507 | -€2,364 | -19.9% |
| Remuneration and social security | 454/9 | €4,475 | €5,892 | +€1,417 | +31.7% |
| Other amounts payable | 47/48 | €6,368 | €1,251 | -€5,116 | -80.3% |
| Remuneration, social security and pensions | 62 | €16,110 | €21,062 | +€4,952 | +30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,815 | €10,922 | -€892 | -7.6% |
| Other operating charges | 640/8 | €2,668 | €2,802 | +€134 | +5.0% |
| Gross operating margin | 9900 | €92,245 | €85,274 | -€6,972 | -7.6% |
| Operating profit (loss) | 9901 | €61,653 | €50,487 | -€11,166 | -18.1% |
| Financial income | 75/76B | €0 | €20 | +€20 | |
| Recurring financial income | 75 | €0 | €20 | +€20 | |
| Financial charges | 65/66B | €3,603 | €5,167 | +€1,565 | +43.4% |
| Recurring financial charges | 65 | €3,603 | €5,167 | +€1,565 | +43.4% |
| Profit (loss) for the period before taxes | 9903 | €58,050 | €45,340 | -€12,710 | -21.9% |
| Income taxes | 67/77 | €17,530 | €13,984 | -€3,546 | -20.2% |
| Profit (loss) for the period | 9904 | €40,520 | €31,355 | -€9,164 | -22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,520 | €31,355 | -€9,164 | -22.6% |
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 24 October 2026 via checked.be.