STYLE STATEMENT: 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 STATEMENT
Largest movements
- Tangible fixed assets -€9,569
down €9,569 (-25.6%), from €37,385 to €27,816
- Cash +€6,157
up €6,157 (+9.9%), from €62,080 to €68,237
mainly Net result for the year (+€11,601) and Depreciation (+€9,569)
- Receivables within one year +€3,218
up €3,218 (+16.3%), from €19,734 to €22,952
of which Trade receivables: +€3,745
- Reserves +€11,601
up €11,601 (+14.7%), from €79,042 to €90,644
of which Distributable reserves: +€11,601
- Debts after one year -€6,918
down €6,918 (-51.1%), from €13,534 to €6,616
- Other debts -€5,266
down €5,266 (-79.2%), from €6,651 to €1,385
- Gross operating margin -€20,557
down €20,557 (-43.7%), from €47,026 to €26,469
- Taxes -€3,902
down €3,902 (-50.5%), from €7,724 to €3,822
- Other operating charges -€930
down €930 (-68.6%), from €1,355 to €425
- Financial charges -€543
down €543 (-34.1%), from €1,595 to €1,052
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 | €119,586 | €119,092 | -€494 | -0.4% |
| Fixed assets | 21/28 | €37,385 | €27,816 | -€9,569 | -25.6% |
| Tangible fixed assets | 22/27 | €37,385 | €27,816 | -€9,569 | -25.6% |
| Furniture and vehicles | 24 | €37,385 | €27,816 | -€9,569 | -25.6% |
| Current assets | 29/58 | €82,201 | €91,276 | +€9,074 | +11.0% |
| Amounts receivable within one year | 40/41 | €19,734 | €22,952 | +€3,218 | +16.3% |
| Trade receivables | 40 | €14,016 | €17,762 | +€3,745 | +26.7% |
| Other amounts receivable | 41 | €5,717 | €5,190 | -€527 | -9.2% |
| Cash at bank and in hand | 54/58 | €62,080 | €68,237 | +€6,157 | +9.9% |
| Deferred charges and accrued income | 490/1 | €388 | €87 | -€301 | -77.5% |
| Total equity and liabilities | 10/49 | €119,586 | €119,092 | -€494 | -0.4% |
| Equity | 10/15 | €91,442 | €103,044 | +€11,601 | +12.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €79,042 | €90,644 | +€11,601 | +14.7% |
| 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 | €77,182 | €88,784 | +€11,601 | +15.0% |
| Amounts payable | 17/49 | €28,144 | €16,048 | -€12,096 | -43.0% |
| Amounts payable after more than one year | 17 | €13,534 | €6,616 | -€6,918 | -51.1% |
| Financial debts | 170/4 | €13,534 | €6,616 | -€6,918 | -51.1% |
| Amounts payable within one year | 42/48 | €14,610 | €9,432 | -€5,178 | -35.4% |
| Current portion of amounts payable after more than one year | 42 | €6,619 | €6,918 | +€299 | +4.5% |
| Trade debts | 44 | €1,233 | €1,130 | -€104 | -8.4% |
| Suppliers | 440/4 | €1,233 | €1,130 | -€104 | -8.4% |
| Taxes, remuneration and social security | 45 | €108 | - | -€108 | |
| Taxes | 450/3 | €108 | - | -€108 | |
| Other amounts payable | 47/48 | €6,651 | €1,385 | -€5,266 | -79.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,858 | €9,569 | -€290 | -2.9% |
| Other operating charges | 640/8 | €1,355 | €425 | -€930 | -68.6% |
| Gross operating margin | 9900 | €47,026 | €26,469 | -€20,557 | -43.7% |
| Operating profit (loss) | 9901 | €35,813 | €16,475 | -€19,338 | -54.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,595 | €1,052 | -€543 | -34.1% |
| Recurring financial charges | 65 | €1,595 | €1,052 | -€543 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €34,218 | €15,424 | -€18,794 | -54.9% |
| Income taxes | 67/77 | €7,724 | €3,822 | -€3,902 | -50.5% |
| Profit (loss) for the period | 9904 | €26,494 | €11,601 | -€14,892 | -56.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,494 | €11,601 | -€14,892 | -56.2% |
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.