STYLE & HARMONY: 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 & HARMONY
Largest movements
- Tangible fixed assets -€13,638
down €13,638 (-3.2%), from €422,845 to €409,206
of which Land and buildings: -€12,987
- Cash -€10,283
down €10,283 (-35.6%), from €28,870 to €18,587
mainly Debts after one year (-€30,487) and Net result for the year (-€12,609)
- Stocks and contracts -€8,863
down €8,863 (-12.4%), from €71,614 to €62,752
- Debts after one year -€30,487
down €30,487 (-10.6%), from €287,854 to €257,368
- Profit (loss) carried forward -€12,609
down €12,609 (-17.4%), from -€72,530 to -€85,139
- Gross operating margin -€42,101
down €42,101 (-62.4%), from €67,481 to €25,379
- Depreciation +€2,537
up €2,537 (+15.7%), from €16,179 to €18,716
- Other operating charges -€1,468
down €1,468 (-32.0%), from €4,593 to €3,125
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 | €552,253 | €511,603 | -€40,650 | -7.4% |
| Fixed assets | 21/28 | €430,622 | €415,483 | -€15,139 | -3.5% |
| Intangible fixed assets | 21 | €7,415 | €5,914 | -€1,501 | -20.2% |
| Tangible fixed assets | 22/27 | €422,845 | €409,206 | -€13,638 | -3.2% |
| Land and buildings | 22 | €409,271 | €396,284 | -€12,987 | -3.2% |
| Plant, machinery and equipment | 23 | €1,148 | €897 | -€251 | -21.8% |
| Furniture and vehicles | 24 | €12,426 | €12,025 | -€401 | -3.2% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €121,631 | €96,120 | -€25,511 | -21.0% |
| Stocks and contracts in progress | 3 | €71,614 | €62,752 | -€8,863 | -12.4% |
| Stocks | 30/36 | €71,614 | €62,752 | -€8,863 | -12.4% |
| Amounts receivable within one year | 40/41 | €19,610 | €14,290 | -€5,320 | -27.1% |
| Trade receivables | 40 | €19,363 | €14,106 | -€5,258 | -27.2% |
| Other amounts receivable | 41 | €247 | €184 | -€62 | -25.2% |
| Cash at bank and in hand | 54/58 | €28,870 | €18,587 | -€10,283 | -35.6% |
| Deferred charges and accrued income | 490/1 | €1,537 | €492 | -€1,046 | -68.0% |
| Total equity and liabilities | 10/49 | €552,253 | €511,603 | -€40,650 | -7.4% |
| Equity | 10/15 | €123,874 | €111,266 | -€12,609 | -10.2% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Reserves | 13 | €146,826 | €146,826 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €258 | +€258 | |
| Other | 1319 | - | €258 | +€258 | |
| Distributable reserves | 133 | €146,826 | €146,568 | -€258 | -0.2% |
| Profit (loss) carried forward | 14 | -€72,530 | -€85,139 | -€12,609 | -17.4% |
| Amounts payable | 17/49 | €428,379 | €400,338 | -€28,041 | -6.5% |
| Amounts payable after more than one year | 17 | €287,854 | €257,368 | -€30,487 | -10.6% |
| Financial debts | 170/4 | €287,854 | €257,368 | -€30,487 | -10.6% |
| Amounts payable within one year | 42/48 | €140,510 | €142,970 | +€2,459 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €33,065 | €30,487 | -€2,579 | -7.8% |
| Trade debts | 44 | €2,783 | €2,468 | -€315 | -11.3% |
| Suppliers | 440/4 | €2,783 | €2,468 | -€315 | -11.3% |
| Taxes, remuneration and social security | 45 | €6,122 | €10,338 | +€4,216 | +68.9% |
| Taxes | 450/3 | €3,772 | €6,488 | +€2,716 | +72.0% |
| Remuneration and social security | 454/9 | €2,350 | €3,850 | +€1,500 | +63.8% |
| Other amounts payable | 47/48 | €98,540 | €99,677 | +€1,137 | +1.2% |
| Accrued charges and deferred income | 492/3 | €14 | - | -€14 | |
| Remuneration, social security and pensions | 62 | €27 | - | -€27 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,179 | €18,716 | +€2,537 | +15.7% |
| Other operating charges | 640/8 | €4,593 | €3,125 | -€1,468 | -32.0% |
| Gross operating margin | 9900 | €67,481 | €25,379 | -€42,101 | -62.4% |
| Operating profit (loss) | 9901 | €46,682 | €3,538 | -€43,143 | -92.4% |
| Financial income | 75/76B | €27 | €43 | +€16 | +56.7% |
| Recurring financial income | 75 | €27 | €43 | +€16 | +56.7% |
| Financial charges | 65/66B | €14,979 | €15,362 | +€383 | +2.6% |
| Recurring financial charges | 65 | €14,979 | €15,362 | +€383 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €31,730 | -€11,780 | -€43,511 | |
| Income taxes | 67/77 | €798 | €829 | +€30 | +3.8% |
| Profit (loss) for the period | 9904 | €30,932 | -€12,609 | -€43,541 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,932 | -€12,609 | -€43,541 |
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.