STOPWATCH: what changed
Two fiscal 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.
STOPWATCH
Largest movements
- Receivables within one year -€8,002
down €8,002 (-47.9%), from €16,693 to €8,691
of which Other amounts receivable: -€10,776
- Tangible fixed assets +€4,278
up €4,278 (+15.2%), from €28,148 to €32,426
of which Other tangible fixed assets: +€7,568
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€1,106
down €1,106 (-15.2%), from €7,261 to €6,155
- Depreciation +€952
up €952 (+17.1%), from €5,567 to €6,519
- Taxes -€382
down €382 (-45.0%), from €850 to €467
- Financial charges -€219
down €219 (-87.3%), from €251 to €32
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.
Cash bridge derived
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 | €362,418 | €364,606 | +€2,188 | +0.6% |
| Fixed assets | 21/28 | €35,798 | €40,076 | +€4,278 | +12.0% |
| Tangible fixed assets | 22/27 | €28,148 | €32,426 | +€4,278 | +15.2% |
| Plant, machinery and equipment | 23 | €24,866 | €22,677 | -€2,189 | -8.8% |
| Furniture and vehicles | 24 | €3,282 | €2,181 | -€1,101 | -33.5% |
| Other tangible fixed assets | 26 | - | €7,568 | +€7,568 | |
| Financial fixed assets | 28 | €7,650 | €7,650 | = | 0.0% |
| Current assets | 29/58 | €326,621 | €324,530 | -€2,091 | -0.6% |
| Stocks and contracts in progress | 3 | €51,399 | €53,160 | +€1,761 | +3.4% |
| Stocks | 30/36 | €51,399 | €53,160 | +€1,761 | +3.4% |
| Amounts receivable within one year | 40/41 | €16,693 | €8,691 | -€8,002 | -47.9% |
| Trade receivables | 40 | €1,672 | €4,446 | +€2,774 | +165.9% |
| Other amounts receivable | 41 | €15,021 | €4,246 | -€10,776 | -71.7% |
| Current investments | 50/53 | €239,197 | €239,197 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €19,331 | €22,003 | +€2,672 | +13.8% |
| Deferred charges and accrued income | 490/1 | - | €1,478 | +€1,478 | |
| Total equity and liabilities | 10/49 | €362,418 | €364,606 | +€2,188 | +0.6% |
| Equity | 10/15 | €350,179 | €349,623 | -€555 | -0.2% |
| Contributions | 10/11 | €40,600 | €40,600 | = | 0.0% |
| Reserves | 13 | €308,702 | €308,702 | = | 0.0% |
| Distributable reserves | 133 | €308,702 | €308,702 | = | 0.0% |
| Profit (loss) carried forward | 14 | €876 | €321 | -€555 | -63.4% |
| Amounts payable | 17/49 | €12,240 | €14,983 | +€2,743 | +22.4% |
| Amounts payable within one year | 42/48 | €12,240 | €14,947 | +€2,707 | +22.1% |
| Trade debts | 44 | €1,749 | €1,679 | -€70 | -4.0% |
| Suppliers | 440/4 | €1,749 | €1,679 | -€70 | -4.0% |
| Advances received on contracts in progress | 46 | - | €3,461 | +€3,461 | |
| Taxes, remuneration and social security | 45 | €2,607 | €1,912 | -€695 | -26.7% |
| Taxes | 450/3 | €2,607 | €1,912 | -€695 | -26.7% |
| Other amounts payable | 47/48 | €7,884 | €7,896 | +€12 | +0.2% |
| Accrued charges and deferred income | 492/3 | - | €36 | +€36 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,567 | €6,519 | +€952 | +17.1% |
| Other operating charges | 640/8 | €466 | €424 | -€42 | -9.1% |
| Gross operating margin | 9900 | €7,261 | €6,155 | -€1,106 | -15.2% |
| Operating profit (loss) | 9901 | €1,228 | -€788 | -€2,016 | |
| Financial income | 75/76B | €749 | €732 | -€18 | -2.3% |
| Recurring financial income | 75 | €749 | €732 | -€18 | -2.3% |
| Financial charges | 65/66B | €251 | €32 | -€219 | -87.3% |
| Recurring financial charges | 65 | €251 | €32 | -€219 | -87.3% |
| Profit (loss) for the period before taxes | 9903 | €1,726 | -€88 | -€1,814 | |
| Income taxes | 67/77 | €850 | €467 | -€382 | -45.0% |
| Profit (loss) for the period | 9904 | €876 | -€555 | -€1,432 | |
| Profit (loss) for the period to be appropriated | 9905 | €876 | -€555 | -€1,432 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.