STYLE CONSTRUCT: 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.
STYLE CONSTRUCT
Largest movements
- Stocks and contracts -€325,960
down €325,960 (-100.0%), from €325,960 to €0
- Cash +€254,731
up €254,731 (+1298.4%), from €19,619 to €274,350
mainly Stocks and contracts (+€325,960) and Other debts (+€174,070)
- Receivables within one year -€23,639
down €23,639 (-27.0%), from €87,697 to €64,059
of which Other amounts receivable: -€29,267
- Short-term financial debts -€193,100
down €193,100 (-100.0%), from €193,100 to €0
- Other debts +€174,070
new in 2025: €174,070
- Profit (loss) carried forward -€86,559
down €86,559 (-100.0%), from €86,559 to €0
- Trade debts +€11,242
up €11,242 (+19.0%), from €59,056 to €70,298
- Debts after one year -€5,785
down €5,785 (-79.5%), from €7,280 to €1,495
- Gross operating margin +€116,953
up €116,953 (+149.0%), from €78,485 to €195,438
- Taxes +€39,780
up €39,780 (+563.3%), from €7,062 to €46,842
- Write-downs -€30,555
down €30,555 (-100.0%), from €30,555 to €0
- Financial charges -€3,991
down €3,991 (-34.4%), from €11,612 to €7,621
- Financial income -€2,561
down €2,561 (-92.6%), from €2,766 to €205
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 | €445,659 | €348,127 | -€97,532 | -21.9% |
| Fixed assets | 21/28 | €11,058 | €8,754 | -€2,304 | -20.8% |
| Tangible fixed assets | 22/27 | €11,058 | €8,754 | -€2,304 | -20.8% |
| Plant, machinery and equipment | 23 | - | €1,217 | +€1,217 | |
| Furniture and vehicles | 24 | €11,058 | €7,536 | -€3,521 | -31.8% |
| Current assets | 29/58 | €434,601 | €339,373 | -€95,228 | -21.9% |
| Stocks and contracts in progress | 3 | €325,960 | €0 | -€325,960 | -100.0% |
| Stocks | 30/36 | €325,960 | €0 | -€325,960 | -100.0% |
| Amounts receivable within one year | 40/41 | €87,697 | €64,059 | -€23,639 | -27.0% |
| Trade receivables | 40 | €43,031 | €48,660 | +€5,629 | +13.1% |
| Other amounts receivable | 41 | €44,666 | €15,399 | -€29,267 | -65.5% |
| Cash at bank and in hand | 54/58 | €19,619 | €274,350 | +€254,731 | +1298.4% |
| Deferred charges and accrued income | 490/1 | €1,325 | €964 | -€360 | -27.2% |
| Total equity and liabilities | 10/49 | €445,659 | €348,127 | -€97,532 | -21.9% |
| Equity | 10/15 | €146,205 | €59,646 | -€86,559 | -59.2% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €56,146 | €56,146 | = | 0.0% |
| Distributable reserves | 133 | €56,146 | €56,146 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,559 | €0 | -€86,559 | -100.0% |
| Amounts payable | 17/49 | €299,454 | €288,480 | -€10,974 | -3.7% |
| Amounts payable after more than one year | 17 | €7,280 | €1,495 | -€5,785 | -79.5% |
| Financial debts | 170/4 | €7,280 | €1,495 | -€5,785 | -79.5% |
| Amounts payable within one year | 42/48 | €292,174 | €286,986 | -€5,189 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €5,486 | €5,785 | +€299 | +5.4% |
| Financial debts | 43 | €193,100 | €0 | -€193,100 | -100.0% |
| Credit institutions | 430/8 | €193,100 | €0 | -€193,100 | -100.0% |
| Trade debts | 44 | €59,056 | €70,298 | +€11,242 | +19.0% |
| Suppliers | 440/4 | €59,056 | €70,298 | +€11,242 | +19.0% |
| Advances received on contracts in progress | 46 | €7,726 | €7,726 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €26,807 | €29,107 | +€2,301 | +8.6% |
| Taxes | 450/3 | €15,766 | €18,067 | +€2,301 | +14.6% |
| Remuneration and social security | 454/9 | €11,040 | €11,040 | = | 0.0% |
| Other amounts payable | 47/48 | - | €174,070 | +€174,070 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,442 | €5,574 | +€133 | +2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €30,555 | €0 | -€30,555 | -100.0% |
| Other operating charges | 640/8 | €1,263 | €1,716 | +€454 | +35.9% |
| Gross operating margin | 9900 | €78,485 | €195,438 | +€116,953 | +149.0% |
| Operating profit (loss) | 9901 | €41,226 | €188,147 | +€146,921 | +356.4% |
| Financial income | 75/76B | €2,766 | €205 | -€2,561 | -92.6% |
| Recurring financial income | 75 | €2,766 | €205 | -€2,561 | -92.6% |
| Financial charges | 65/66B | €11,612 | €7,621 | -€3,991 | -34.4% |
| Recurring financial charges | 65 | €11,612 | €7,621 | -€3,991 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €32,380 | €180,731 | +€148,351 | +458.2% |
| Income taxes | 67/77 | €7,062 | €46,842 | +€39,780 | +563.3% |
| Profit (loss) for the period | 9904 | €25,318 | €133,889 | +€108,570 | +428.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,318 | €133,889 | +€108,570 | +428.8% |
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 1 October 2026 via checked.be.