STEPHANE BURGEON: 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.
STEPHANE BURGEON
Largest movements
- Stocks and contracts +€5,000
up €5,000 (+5.0%), from €99,113 to €104,113
- Tangible fixed assets -€4,446
down €4,446 (-71.0%), from €6,265 to €1,819
of which Leasing and similar rights: -€6,035
- Cash -€3,375
no longer reported in 2024 (was €3,375)
mainly Net result for the year (-€31,901) and Current portion of long-term debt (-€14,919)
- Receivables within one year +€2,979
up €2,979 (+4.6%), from €64,926 to €67,905
- Other debts +€36,678
up €36,678 (+151%), from €24,274 to €60,953
- Profit (loss) carried forward -€31,901
down €31,901 (-230%), from -€13,846 to -€45,746
- Current portion of long-term debt -€14,919
no longer reported in 2024 (was €14,919)
- Advances received +€6,000
new in 2024: €6,000
- Trade debts +€5,868
up €5,868 (+10.6%), from €55,412 to €61,280
- Gross operating margin -€21,700
down €21,700, from €4,830 to -€16,869
- Depreciation -€3,885
down €3,885 (-35.8%), from €10,861 to €6,976
- Financial charges +€3,872
up €3,872 (+130%), from €2,990 to €6,861
- Taxes -€734
no longer reported in 2024 (was €734)
- Staff costs -€720
no longer reported in 2024 (was €720)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €175,928 | €176,318 | +€390 | +0.2% |
| Fixed assets | 21/28 | €7,465 | €2,619 | -€4,846 | -64.9% |
| Intangible fixed assets | 21 | €1,200 | €800 | -€400 | -33.3% |
| Tangible fixed assets | 22/27 | €6,265 | €1,819 | -€4,446 | -71.0% |
| Plant, machinery and equipment | 23 | - | €1,704 | +€1,704 | |
| Leasing and similar rights | 25 | €6,035 | - | -€6,035 | |
| Other tangible fixed assets | 26 | €230 | €115 | -€115 | -50.0% |
| Current assets | 29/58 | €168,463 | €173,699 | +€5,236 | +3.1% |
| Stocks and contracts in progress | 3 | €99,113 | €104,113 | +€5,000 | +5.0% |
| Stocks | 30/36 | €99,113 | €104,113 | +€5,000 | +5.0% |
| Amounts receivable within one year | 40/41 | €64,926 | €67,905 | +€2,979 | +4.6% |
| Trade receivables | 40 | €64,926 | €67,905 | +€2,979 | +4.6% |
| Cash at bank and in hand | 54/58 | €3,375 | - | -€3,375 | |
| Deferred charges and accrued income | 490/1 | €1,049 | €1,682 | +€633 | +60.3% |
| Total equity and liabilities | 10/49 | €175,928 | €176,318 | +€390 | +0.2% |
| Equity | 10/15 | €38,804 | €6,903 | -€31,901 | -82.2% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Reserves | 13 | €25,150 | €25,150 | = | 0.0% |
| Distributable reserves | 133 | €25,150 | €25,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,846 | -€45,746 | -€31,901 | -230% |
| Amounts payable | 17/49 | €137,124 | €169,415 | +€32,291 | +23.5% |
| Amounts payable within one year | 42/48 | €136,774 | €169,065 | +€32,291 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €14,919 | - | -€14,919 | |
| Financial debts | 43 | €26,271 | €21,038 | -€5,233 | -19.9% |
| Credit institutions | 430/8 | €26,271 | €21,038 | -€5,233 | -19.9% |
| Trade debts | 44 | €55,412 | €61,280 | +€5,868 | +10.6% |
| Suppliers | 440/4 | €55,412 | €61,280 | +€5,868 | +10.6% |
| Advances received on contracts in progress | 46 | - | €6,000 | +€6,000 | |
| Taxes, remuneration and social security | 45 | €15,898 | €19,795 | +€3,897 | +24.5% |
| Taxes | 450/3 | €13,898 | €19,795 | +€5,897 | +42.4% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €24,274 | €60,953 | +€36,678 | +151% |
| Accrued charges and deferred income | 492/3 | €350 | €350 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €720 | - | -€720 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,861 | €6,976 | -€3,885 | -35.8% |
| Other operating charges | 640/8 | €2,182 | €1,506 | -€676 | -31.0% |
| Gross operating margin | 9900 | €4,830 | -€16,869 | -€21,700 | |
| Operating profit (loss) | 9901 | -€8,932 | -€25,351 | -€16,419 | -184% |
| Financial income | 75/76B | €1 | €312 | +€311 | +29,586% |
| Recurring financial income | 75 | €1 | €312 | +€311 | +29,586% |
| Financial charges | 65/66B | €2,990 | €6,861 | +€3,872 | +130% |
| Recurring financial charges | 65 | €2,990 | €6,861 | +€3,872 | +130% |
| Profit (loss) for the period before taxes | 9903 | -€11,921 | -€31,901 | -€19,980 | -168% |
| Income taxes | 67/77 | €734 | - | -€734 | |
| Profit (loss) for the period | 9904 | -€12,655 | -€31,901 | -€19,246 | -152% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,655 | -€31,901 | -€19,246 | -152% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.