T IV: what changed
Two financial 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.
T IV
Largest movements
- Intangible fixed assets -€15,000
down €15,000 (-10.7%), from €139,726 to €124,726
- Receivables within one year +€10,256
up €10,256 (+71.8%), from €14,282 to €24,538
of which Other amounts receivable: +€9,208
- Tangible fixed assets -€10,166
down €10,166 (-22.1%), from €46,019 to €35,853
of which Plant, machinery and equipment: -€10,134
- Cash +€7,927
up €7,927 (+56.6%), from €14,007 to €21,934
mainly Depreciation (+€25,703) and Net result for the year (+€15,207)
- Debts after one year -€19,508
down €19,508 (-14.6%), from €133,934 to €114,426
- Profit (loss) carried forward +€15,207
up €15,207 (+78.1%), from -€19,474 to -€4,267
- Gross operating margin +€149,179
up €149,179 (+70.9%), from €210,362 to €359,541
- Staff costs +€100,610
up €100,610 (+49.3%), from €204,183 to €304,793
- Depreciation +€8,240
up €8,240 (+47.2%), from €17,463 to €25,703
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.
Derived cash bridge
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 | €236,788 | €231,011 | -€5,777 | -2.4% |
| Fixed assets | 21/28 | €189,584 | €164,418 | -€25,166 | -13.3% |
| Intangible fixed assets | 21 | €139,726 | €124,726 | -€15,000 | -10.7% |
| Tangible fixed assets | 22/27 | €46,019 | €35,853 | -€10,166 | -22.1% |
| Plant, machinery and equipment | 23 | €43,729 | €33,595 | -€10,134 | -23.2% |
| Furniture and vehicles | 24 | €2,290 | €2,258 | -€32 | -1.4% |
| Financial fixed assets | 28 | €3,839 | €3,839 | = | 0.0% |
| Current assets | 29/58 | €47,204 | €66,593 | +€19,389 | +41.1% |
| Stocks and contracts in progress | 3 | €18,380 | €19,567 | +€1,187 | +6.5% |
| Stocks | 30/36 | €18,380 | €19,567 | +€1,187 | +6.5% |
| Amounts receivable within one year | 40/41 | €14,282 | €24,538 | +€10,256 | +71.8% |
| Trade receivables | 40 | €2,891 | €3,939 | +€1,048 | +36.3% |
| Other amounts receivable | 41 | €11,391 | €20,599 | +€9,208 | +80.8% |
| Cash at bank and in hand | 54/58 | €14,007 | €21,934 | +€7,927 | +56.6% |
| Deferred charges and accrued income | 490/1 | €535 | €554 | +€19 | +3.6% |
| Total equity and liabilities | 10/49 | €236,788 | €231,011 | -€5,777 | -2.4% |
| Equity | 10/15 | -€4,474 | €10,733 | +€15,207 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,474 | -€4,267 | +€15,207 | +78.1% |
| Amounts payable | 17/49 | €241,262 | €220,278 | -€20,984 | -8.7% |
| Amounts payable after more than one year | 17 | €133,934 | €114,426 | -€19,508 | -14.6% |
| Financial debts | 170/4 | €133,934 | €114,426 | -€19,508 | -14.6% |
| Amounts payable within one year | 42/48 | €107,328 | €105,852 | -€1,476 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €23,922 | €25,495 | +€1,573 | +6.6% |
| Trade debts | 44 | €42,863 | €42,108 | -€755 | -1.8% |
| Suppliers | 440/4 | €42,863 | €42,108 | -€755 | -1.8% |
| Taxes, remuneration and social security | 45 | €40,543 | €38,249 | -€2,294 | -5.7% |
| Taxes | 450/3 | €14,186 | €9,897 | -€4,289 | -30.2% |
| Remuneration and social security | 454/9 | €26,357 | €28,352 | +€1,995 | +7.6% |
| Remuneration, social security and pensions | 62 | €204,183 | €304,793 | +€100,610 | +49.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,463 | €25,703 | +€8,240 | +47.2% |
| Other operating charges | 640/8 | €2,551 | €5,451 | +€2,900 | +114% |
| Gross operating margin | 9900 | €210,362 | €359,541 | +€149,179 | +70.9% |
| Operating profit (loss) | 9901 | -€13,835 | €23,594 | +€37,429 | |
| Financial income | 75/76B | €90 | €174 | +€84 | +93.3% |
| Recurring financial income | 75 | €90 | €174 | +€84 | +93.3% |
| Financial charges | 65/66B | €5,729 | €6,419 | +€690 | +12.0% |
| Recurring financial charges | 65 | €5,729 | €6,419 | +€690 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | -€19,474 | €17,349 | +€36,823 | |
| Income taxes | 67/77 | - | €2,142 | +€2,142 | |
| Profit (loss) for the period | 9904 | -€19,474 | €15,207 | +€34,681 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,474 | €15,207 | +€34,681 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.