STOCK AUCTION: 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.
STOCK AUCTION
Largest movements
- Receivables within one year -€33,236
down €33,236 (-21.6%), from €154,081 to €120,846
- Tangible fixed assets -€25,726
down €25,726 (-7.7%), from €332,951 to €307,225
of which Plant, machinery and equipment: -€16,230
- Cash -€22,743
down €22,743 (-94.8%), from €23,992 to €1,249
mainly Other debts (-€138,115) and Debts after one year (-€27,577)
- Stocks and contracts -€13,438
down €13,438 (-26.3%), from €51,000 to €37,562
- Other debts -€138,115
down €138,115 (-37.3%), from €370,299 to €232,184
- Trade debts +€67,214
up €67,214 (+167%), from €40,148 to €107,362
- Debts after one year -€27,577
down €27,577 (-17.0%), from €161,906 to €134,329
- Profit (loss) carried forward +€16,815
up €16,815 (+4.3%), from -€390,018 to -€373,203
- Advances received -€14,298
down €14,298 (-10.0%), from €143,094 to €128,797
- Gross operating margin +€135,313
up €135,313, from -€62,312 to €73,001
- Staff costs -€35,025
down €35,025 (-98.6%), from €35,523 to €498
- Taxes +€10,724
up €10,724 (+147%), from €7,310 to €18,034
- Depreciation -€10,014
down €10,014 (-26.3%), from €38,119 to €28,105
- Financial charges -€3,419
down €3,419 (-26.2%), from €13,057 to €9,638
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 | €565,096 | €469,954 | -€95,142 | -16.8% |
| Fixed assets | 21/28 | €335,991 | €310,265 | -€25,726 | -7.7% |
| Tangible fixed assets | 22/27 | €332,951 | €307,225 | -€25,726 | -7.7% |
| Land and buildings | 22 | €261,275 | €255,264 | -€6,011 | -2.3% |
| Plant, machinery and equipment | 23 | €56,193 | €39,963 | -€16,230 | -28.9% |
| Furniture and vehicles | 24 | €15,483 | €11,998 | -€3,485 | -22.5% |
| Financial fixed assets | 28 | €3,040 | €3,040 | = | 0.0% |
| Current assets | 29/58 | €229,105 | €159,689 | -€69,416 | -30.3% |
| Stocks and contracts in progress | 3 | €51,000 | €37,562 | -€13,438 | -26.3% |
| Stocks | 30/36 | €51,000 | €37,562 | -€13,438 | -26.3% |
| Amounts receivable within one year | 40/41 | €154,081 | €120,846 | -€33,236 | -21.6% |
| Trade receivables | 40 | €154,081 | €120,846 | -€33,236 | -21.6% |
| Current investments | 50/53 | €32 | €32 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €23,992 | €1,249 | -€22,743 | -94.8% |
| Total equity and liabilities | 10/49 | €565,096 | €469,954 | -€95,142 | -16.8% |
| Equity | 10/15 | -€369,558 | -€352,743 | +€16,815 | +4.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€390,018 | -€373,203 | +€16,815 | +4.3% |
| Provisions and deferred taxes | 16 | €65,000 | €65,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €65,000 | €65,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €65,000 | €65,000 | = | 0.0% |
| Amounts payable | 17/49 | €869,655 | €757,697 | -€111,958 | -12.9% |
| Amounts payable after more than one year | 17 | €161,906 | €134,329 | -€27,577 | -17.0% |
| Financial debts | 170/4 | €161,906 | €134,329 | -€27,577 | -17.0% |
| Amounts payable within one year | 42/48 | €707,442 | €623,368 | -€84,073 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €30,894 | €31,573 | +€679 | +2.2% |
| Financial debts | 43 | €97,000 | €99,979 | +€2,979 | +3.1% |
| Credit institutions | 430/8 | €97,000 | €99,979 | +€2,979 | +3.1% |
| Trade debts | 44 | €40,148 | €107,362 | +€67,214 | +167% |
| Suppliers | 440/4 | €40,148 | €107,362 | +€67,214 | +167% |
| Advances received on contracts in progress | 46 | €143,094 | €128,797 | -€14,298 | -10.0% |
| Taxes, remuneration and social security | 45 | €26,007 | €23,474 | -€2,533 | -9.7% |
| Taxes | 450/3 | €6,854 | €4,321 | -€2,533 | -37.0% |
| Remuneration and social security | 454/9 | €19,153 | €19,153 | = | 0.0% |
| Other amounts payable | 47/48 | €370,299 | €232,184 | -€138,115 | -37.3% |
| Accrued charges and deferred income | 492/3 | €307 | - | -€307 | |
| Remuneration, social security and pensions | 62 | €35,523 | €498 | -€35,025 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,119 | €28,105 | -€10,014 | -26.3% |
| Other operating charges | 640/8 | €902 | €220 | -€682 | -75.6% |
| Non-recurring operating charges | 66A | -€93 | - | +€93 | |
| Gross operating margin | 9900 | -€62,312 | €73,001 | +€135,313 | |
| Operating profit (loss) | 9901 | -€136,763 | €44,179 | +€180,942 | |
| Financial income | 75/76B | - | €308 | +€308 | |
| Recurring financial income | 75 | - | €308 | +€308 | |
| Non-recurring financial income | 76B | - | €308 | +€308 | |
| Financial charges | 65/66B | €13,057 | €9,638 | -€3,419 | -26.2% |
| Recurring financial charges | 65 | €13,057 | €9,638 | -€3,419 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | -€149,820 | €34,849 | +€184,669 | |
| Income taxes | 67/77 | €7,310 | €18,034 | +€10,724 | +147% |
| Profit (loss) for the period | 9904 | -€157,130 | €16,815 | +€173,945 | |
| Profit (loss) for the period to be appropriated | 9905 | -€157,130 | €16,815 | +€173,945 |
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.