STEPS TO GO: 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.
STEPS TO GO
Largest movements
- Stocks and contracts +€26,211
up €26,211 (+37.8%), from €69,279 to €95,490
- Cash +€12,240
up €12,240 (+216%), from €5,655 to €17,896
mainly Net result for the year (+€17,010) and Depreciation (+€9,320)
- Tangible fixed assets -€9,320
down €9,320 (-9.8%), from €95,133 to €85,814
of which Land and buildings: -€6,820
- Receivables within one year -€2,600
down €2,600 (-89.5%), from €2,905 to €305
of which Other amounts receivable: -€2,685
- Profit (loss) carried forward +€17,010
up €17,010 (+30.5%), from €55,727 to €72,737
- Other debts +€6,758
up €6,758 (+81.6%), from €8,277 to €15,036
- Trade debts +€2,583
up €2,583 (+32.5%), from €7,953 to €10,535
- Gross operating margin +€20,525
up €20,525 (+235%), from €8,751 to €29,276
- Taxes +€3,410
up €3,410 (+264%), from €1,290 to €4,699
- Write-downs +€2,351
up €2,351 (+21.5%), from -€10,944 to -€8,593
- Financial income -€1,214
down €1,214 (-64.4%), from €1,885 to €671
- Financial charges -€773
down €773 (-13.6%), from €5,700 to €4,927
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 | €173,769 | €200,174 | +€26,405 | +15.2% |
| Fixed assets | 21/28 | €95,133 | €85,814 | -€9,320 | -9.8% |
| Tangible fixed assets | 22/27 | €95,133 | €85,814 | -€9,320 | -9.8% |
| Land and buildings | 22 | €91,401 | €84,581 | -€6,820 | -7.5% |
| Furniture and vehicles | 24 | €3,733 | €1,233 | -€2,500 | -67.0% |
| Current assets | 29/58 | €78,635 | €114,360 | +€35,725 | +45.4% |
| Stocks and contracts in progress | 3 | €69,279 | €95,490 | +€26,211 | +37.8% |
| Stocks | 30/36 | €69,279 | €95,490 | +€26,211 | +37.8% |
| Amounts receivable within one year | 40/41 | €2,905 | €305 | -€2,600 | -89.5% |
| Trade receivables | 40 | €190 | €275 | +€85 | +44.9% |
| Other amounts receivable | 41 | €2,715 | €30 | -€2,685 | -98.9% |
| Cash at bank and in hand | 54/58 | €5,655 | €17,896 | +€12,240 | +216% |
| Deferred charges and accrued income | 490/1 | €795 | €669 | -€126 | -15.9% |
| Total equity and liabilities | 10/49 | €173,769 | €200,174 | +€26,405 | +15.2% |
| Equity | 10/15 | €91,514 | €108,524 | +€17,010 | +18.6% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €13,787 | €13,787 | = | 0.0% |
| Distributable reserves | 133 | €13,787 | €13,787 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,727 | €72,737 | +€17,010 | +30.5% |
| Amounts payable | 17/49 | €82,255 | €91,650 | +€9,395 | +11.4% |
| Amounts payable after more than one year | 17 | €4,000 | €4,000 | = | 0.0% |
| Financial debts | 170/4 | €4,000 | €4,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €78,255 | €87,650 | +€9,395 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €986 | €0 | -€986 | -100% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €7,953 | €10,535 | +€2,583 | +32.5% |
| Suppliers | 440/4 | €7,953 | €10,535 | +€2,583 | +32.5% |
| Taxes, remuneration and social security | 45 | €11,039 | €12,079 | +€1,041 | +9.4% |
| Taxes | 450/3 | €9,989 | €11,029 | +€1,041 | +10.4% |
| Remuneration and social security | 454/9 | €1,050 | €1,050 | = | 0.0% |
| Other amounts payable | 47/48 | €8,277 | €15,036 | +€6,758 | +81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,743 | €9,320 | +€576 | +6.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,944 | -€8,593 | +€2,351 | +21.5% |
| Other operating charges | 640/8 | €2,509 | €2,583 | +€75 | +3.0% |
| Gross operating margin | 9900 | €8,751 | €29,276 | +€20,525 | +235% |
| Operating profit (loss) | 9901 | €8,443 | €25,966 | +€17,523 | +208% |
| Financial income | 75/76B | €1,885 | €671 | -€1,214 | -64.4% |
| Recurring financial income | 75 | €1,885 | €671 | -€1,214 | -64.4% |
| Financial charges | 65/66B | €5,700 | €4,927 | -€773 | -13.6% |
| Recurring financial charges | 65 | €5,700 | €4,927 | -€773 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €4,628 | €21,709 | +€17,081 | +369% |
| Income taxes | 67/77 | €1,290 | €4,699 | +€3,410 | +264% |
| Profit (loss) for the period | 9904 | €3,338 | €17,010 | +€13,672 | +410% |
| Profit (loss) for the period to be appropriated | 9905 | €3,338 | €17,010 | +€13,672 | +410% |
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 29 October 2026 via checked.be.