SUBCON: 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.
What changed
SUBCON
NACE 28.990, Manufacture of machinery and equipment not elsewhere classified
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€101,831
2024 · €5,868-€107,699
Equity
€970,225
2024 · €1.1m-€101,831
Cash
€16,038
2024 · €594,173-€578,135
Balance sheet total
€2.2m
2024 · €2.7m-€414,251
Largest movements
Assets
- Cash -€578,135
down €578,135 (-97.3%), from €594,173 to €16,038
mainly Receivables within one year (-€366,439) and Debts after one year (-€224,551)
- Receivables within one year +€366,439
up €366,439 (+68.9%), from €531,748 to €898,187
of which Other amounts receivable: +€554,071
- Tangible fixed assets -€202,420
down €202,420 (-13.2%), from €1.5m to €1.3m
of which Leasing and similar rights: -€150,693
Equity and liabilities
- Debts after one year -€224,551
down €224,551 (-27.6%), from €812,284 to €587,732
- Short-term financial debts -€178,019
down €178,019 (-74.2%), from €239,830 to €61,811
- Reserves -€101,831
down €101,831 (-10.1%), from €1.0m to €908,225
of which Distributable reserves: -€101,831
- Tax, wage and social debts +€87,053
up €87,053 (+35.0%), from €248,443 to €335,496
of which Taxes: +€70,270
Income statement
- Turnover -€130,396
down €130,396 (-3.7%), from €3.5m to €3.4m
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.
Result 2024
€5,868
Turnover
-€130,396
Other operating income
-€19,046
Goods and materials
+€568
Services and other goods
+€18,877
Staff costs
+€20,508
Depreciation
-€12,178
Other operating charges
-€48
Financial income
+€8,127
Financial charges
+€5,889
Result 2025
-€101,831
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.
From operations
-€127,793
Investment
-€53,441
Financing
-€396,900
Cash 2024
€594,173
From operations (derived)
-€127,793
Net result for the year
-€101,831
Depreciation
+€255,862
Receivables within one year
-€366,439
Deferred charges and accrued income
+€136
Trade debts
-€2,573
Tax, wage and social debts
+€87,053
Investment (derived)
-€53,441
Investment in fixed assets (net)
-€53,441
Financing
-€396,900
Debts after one year
-€224,551
Current portion of long-term debt
+€5,670
Short-term financial debts
-€178,019
Cash 2025
€16,038
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,660,499 | €2,246,248 | -€414,251 | -15.6% |
| Fixed assets | 21/28 | €1,528,258 | €1,325,838 | -€202,420 | -13.2% |
| Tangible fixed assets | 22/27 | €1,528,258 | €1,325,838 | -€202,420 | -13.2% |
| Plant, machinery and equipment | 23 | €350,196 | €313,100 | -€37,096 | -10.6% |
| Furniture and vehicles | 24 | €8,753 | €8,023 | -€730 | -8.3% |
| Leasing and similar rights | 25 | €1,087,968 | €937,275 | -€150,693 | -13.9% |
| Other tangible fixed assets | 26 | €81,341 | €67,439 | -€13,902 | -17.1% |
| Current assets | 29/58 | €1,132,242 | €920,410 | -€211,831 | -18.7% |
| Amounts receivable within one year | 40/41 | €531,748 | €898,187 | +€366,439 | +68.9% |
| Trade receivables | 40 | €511,325 | €323,693 | -€187,632 | -36.7% |
| Other amounts receivable | 41 | €20,423 | €574,494 | +€554,071 | +2713.0% |
| Cash at bank and in hand | 54/58 | €594,173 | €16,038 | -€578,135 | -97.3% |
| Deferred charges and accrued income | 490/1 | €6,321 | €6,186 | -€136 | -2.1% |
| Total equity and liabilities | 10/49 | €2,660,499 | €2,246,248 | -€414,251 | -15.6% |
| Equity | 10/15 | €1,072,056 | €970,225 | -€101,831 | -9.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,010,056 | €908,225 | -€101,831 | -10.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €53,897 | €53,897 | = | 0.0% |
| Distributable reserves | 133 | €949,959 | €848,127 | -€101,831 | -10.7% |
| Amounts payable | 17/49 | €1,588,443 | €1,276,023 | -€312,420 | -19.7% |
| Amounts payable after more than one year | 17 | €812,284 | €587,732 | -€224,551 | -27.6% |
| Financial debts | 170/4 | €812,284 | €587,732 | -€224,551 | -27.6% |
| Leasing and similar obligations | 172 | €768,270 | €558,069 | -€210,201 | -27.4% |
| Credit institutions | 173 | €44,014 | €29,663 | -€14,351 | -32.6% |
| Amounts payable within one year | 42/48 | €776,160 | €688,291 | -€87,869 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €218,881 | €224,551 | +€5,670 | +2.6% |
| Financial debts | 43 | €239,830 | €61,811 | -€178,019 | -74.2% |
| Credit institutions | 430/8 | €239,830 | €61,811 | -€178,019 | -74.2% |
| Trade debts | 44 | €69,006 | €66,433 | -€2,573 | -3.7% |
| Suppliers | 440/4 | €69,006 | €66,433 | -€2,573 | -3.7% |
| Taxes, remuneration and social security | 45 | €248,443 | €335,496 | +€87,053 | +35.0% |
| Taxes | 450/3 | - | €70,270 | +€70,270 | |
| Remuneration and social security | 454/9 | €248,443 | €265,226 | +€16,783 | +6.8% |
| Operating income | 70/76A | €3,533,563 | €3,384,121 | -€149,442 | -4.2% |
| Turnover | 70 | €3,498,977 | €3,368,581 | -€130,396 | -3.7% |
| Other operating income | 74 | €34,586 | €15,540 | -€19,046 | -55.1% |
| Operating charges | 60/66A | €3,487,564 | €3,459,838 | -€27,726 | -0.8% |
| Goods for resale, raw materials and consumables | 60 | €87,448 | €86,880 | -€568 | -0.6% |
| Purchases | 600/8 | €87,448 | €86,880 | -€568 | -0.6% |
| Services and other goods | 61 | €532,538 | €513,661 | -€18,877 | -3.5% |
| Remuneration, social security and pensions | 62 | €2,622,417 | €2,601,909 | -€20,508 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €243,684 | €255,862 | +€12,178 | +5.0% |
| Other operating charges | 640/8 | €1,478 | €1,526 | +€48 | +3.2% |
| Operating profit (loss) | 9901 | €45,998 | -€75,717 | -€121,715 | |
| Financial income | 75/76B | €5,258 | €13,384 | +€8,127 | +154.6% |
| Recurring financial income | 75 | €5,258 | €13,384 | +€8,127 | +154.6% |
| Income from current assets | 751 | €5,258 | €13,384 | +€8,127 | +154.6% |
| Financial charges | 65/66B | €45,388 | €39,498 | -€5,889 | -13.0% |
| Recurring financial charges | 65 | €45,388 | €39,498 | -€5,889 | -13.0% |
| Debt charges | 650 | €44,132 | €38,333 | -€5,799 | -13.1% |
| Other financial charges | 652/9 | €1,256 | €1,166 | -€90 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €5,868 | -€101,831 | -€107,699 | |
| Profit (loss) for the period | 9904 | €5,868 | -€101,831 | -€107,699 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,868 | -€101,831 | -€107,699 |
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 28 September 2026 via checked.be.