STRAND: 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.
STRAND
Largest movements
- Cash -€34,576
down €34,576 (-34.9%), from €98,958 to €64,382
mainly Investment in fixed assets (net) (-€43,209) and Net result for the year (-€20,705)
- Tangible fixed assets +€27,632
up €27,632 (+70.8%), from €39,019 to €66,651
of which Furniture and vehicles: +€34,859
- Stocks and contracts +€8,406
up €8,406 (+22.2%), from €37,888 to €46,294
- Receivables within one year +€6,317
up €6,317 (+49.1%), from €12,874 to €19,190
of which Other amounts receivable: +€6,356
- Other debts +€28,286
up €28,286 (+95.2%), from €29,705 to €57,991
- Profit (loss) carried forward -€20,705
down €20,705, from €14,785 to -€5,920
- Reserves -€20,000
down €20,000 (-17.1%), from €116,860 to €96,860
of which Distributable reserves: -€20,000
- Tax, wage and social debts +€12,554
up €12,554 (+77.1%), from €16,288 to €28,842
of which Remuneration and social security: +€8,278
- Trade debts +€7,544
up €7,544 (+67.8%), from €11,132 to €18,676
- Staff costs +€98,841
up €98,841 (+50.2%), from €196,969 to €295,809
- Gross operating margin +€36,218
up €36,218 (+13.8%), from €262,399 to €298,617
- Taxes -€11,810
no longer reported in 2025 (was €11,810)
- Depreciation +€6,278
up €6,278 (+66.8%), from €9,399 to €15,678
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 | €194,990 | €202,669 | +€7,679 | +3.9% |
| Fixed assets | 21/28 | €45,270 | €72,802 | +€27,532 | +60.8% |
| Tangible fixed assets | 22/27 | €39,019 | €66,651 | +€27,632 | +70.8% |
| Land and buildings | 22 | €9,839 | €8,652 | -€1,187 | -12.1% |
| Plant, machinery and equipment | 23 | €22,480 | €16,440 | -€6,039 | -26.9% |
| Furniture and vehicles | 24 | €6,700 | €41,559 | +€34,859 | +520.2% |
| Financial fixed assets | 28 | €6,251 | €6,151 | -€100 | -1.6% |
| Current assets | 29/58 | €149,719 | €129,867 | -€19,853 | -13.3% |
| Stocks and contracts in progress | 3 | €37,888 | €46,294 | +€8,406 | +22.2% |
| Stocks | 30/36 | €37,888 | €46,294 | +€8,406 | +22.2% |
| Amounts receivable within one year | 40/41 | €12,874 | €19,190 | +€6,317 | +49.1% |
| Trade receivables | 40 | €39 | - | -€39 | |
| Other amounts receivable | 41 | €12,834 | €19,190 | +€6,356 | +49.5% |
| Cash at bank and in hand | 54/58 | €98,958 | €64,382 | -€34,576 | -34.9% |
| Total equity and liabilities | 10/49 | €194,990 | €202,669 | +€7,679 | +3.9% |
| Equity | 10/15 | €137,865 | €97,160 | -€40,705 | -29.5% |
| Contributions | 10/11 | €6,220 | €6,220 | = | 0.0% |
| Reserves | 13 | €116,860 | €96,860 | -€20,000 | -17.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €115,000 | €95,000 | -€20,000 | -17.4% |
| Profit (loss) carried forward | 14 | €14,785 | -€5,920 | -€20,705 | |
| Amounts payable | 17/49 | €57,125 | €105,509 | +€48,384 | +84.7% |
| Amounts payable within one year | 42/48 | €57,125 | €105,509 | +€48,384 | +84.7% |
| Trade debts | 44 | €11,132 | €18,676 | +€7,544 | +67.8% |
| Suppliers | 440/4 | €11,132 | €18,676 | +€7,544 | +67.8% |
| Taxes, remuneration and social security | 45 | €16,288 | €28,842 | +€12,554 | +77.1% |
| Taxes | 450/3 | - | €4,276 | +€4,276 | |
| Remuneration and social security | 454/9 | €16,288 | €24,566 | +€8,278 | +50.8% |
| Other amounts payable | 47/48 | €29,705 | €57,991 | +€28,286 | +95.2% |
| Non-recurring operating income | 76A | - | €11,844 | +€11,844 | |
| Remuneration, social security and pensions | 62 | €196,969 | €295,809 | +€98,841 | +50.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,399 | €15,678 | +€6,278 | +66.8% |
| Other operating charges | 640/8 | €1,574 | €1,553 | -€21 | -1.3% |
| Gross operating margin | 9900 | €262,399 | €298,617 | +€36,218 | +13.8% |
| Operating profit (loss) | 9901 | €54,458 | -€14,423 | -€68,880 | |
| Financial income | 75/76B | €856 | €94 | -€761 | -89.0% |
| Recurring financial income | 75 | €856 | €94 | -€761 | -89.0% |
| Financial charges | 65/66B | €6,434 | €6,377 | -€57 | -0.9% |
| Recurring financial charges | 65 | €6,434 | €6,377 | -€57 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €48,880 | -€20,705 | -€69,585 | |
| Income taxes | 67/77 | €11,810 | - | -€11,810 | |
| Profit (loss) for the period | 9904 | €37,070 | -€20,705 | -€57,775 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,070 | -€20,705 | -€57,775 |
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 3 October 2026 via checked.be.