' T SCHAAFKE: 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 SCHAAFKE
Largest movements
- Receivables within one year -€34,789
down €34,789 (-22.2%), from €156,666 to €121,877
- Cash +€13,513
up €13,513 (+33.2%), from €40,758 to €54,272
mainly Receivables within one year (+€34,789) and Depreciation (+€8,053)
- Tangible fixed assets -€8,053
down €8,053 (-31.0%), from €26,013 to €17,960
of which Plant, machinery and equipment: -€6,323
- Profit (loss) carried forward -€11,055
down €11,055 (-39.1%), from -€28,307 to -€39,362
- Reserves -€10,289
down €10,289 (-6.3%), from €164,567 to €154,278
of which Tax-exempt reserves: -€10,289
- Current portion of long-term debt -€7,620
down €7,620 (-75.4%), from €10,111 to €2,491
- Trade debts +€6,274
up €6,274 (+119%), from €5,261 to €11,535
- Tax, wage and social debts -€3,931
down €3,931 (-66.2%), from €5,942 to €2,011
- Turnover +€265,775
new in 2025: €265,775
- Purchases and services +€252,803
new in 2025: €252,803
- Gross operating margin -€15,969
down €15,969 (-55.2%), from €28,941 to €12,971
- Depreciation -€7,762
down €7,762 (-49.1%), from €15,815 to €8,053
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 | €232,437 | €203,109 | -€29,328 | -12.6% |
| Fixed assets | 21/28 | €26,013 | €17,960 | -€8,053 | -31.0% |
| Tangible fixed assets | 22/27 | €26,013 | €17,960 | -€8,053 | -31.0% |
| Plant, machinery and equipment | 23 | €20,823 | €14,500 | -€6,323 | -30.4% |
| Furniture and vehicles | 24 | €5,190 | €3,460 | -€1,730 | -33.3% |
| Current assets | 29/58 | €206,425 | €185,149 | -€21,276 | -10.3% |
| Stocks and contracts in progress | 3 | €9,000 | €9,000 | = | 0.0% |
| Stocks | 30/36 | €9,000 | €9,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €156,666 | €121,877 | -€34,789 | -22.2% |
| Other amounts receivable | 41 | €156,666 | €121,877 | -€34,789 | -22.2% |
| Cash at bank and in hand | 54/58 | €40,758 | €54,272 | +€13,513 | +33.2% |
| Total equity and liabilities | 10/49 | €232,437 | €203,109 | -€29,328 | -12.6% |
| Equity | 10/15 | €154,852 | €133,509 | -€21,344 | -13.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €164,567 | €154,278 | -€10,289 | -6.3% |
| Non-distributable reserves | 130/1 | - | €1,859 | +€1,859 | |
| Reserves not available under the articles | 1311 | - | €1,859 | +€1,859 | |
| Tax-exempt reserves | 132 | €135,926 | €125,637 | -€10,289 | -7.6% |
| Distributable reserves | 133 | €28,641 | €26,782 | -€1,859 | -6.5% |
| Profit (loss) carried forward | 14 | -€28,307 | -€39,362 | -€11,055 | -39.1% |
| Provisions and deferred taxes | 16 | €56,271 | €53,563 | -€2,708 | -4.8% |
| Deferred taxes | 168 | €56,271 | €53,563 | -€2,708 | -4.8% |
| Amounts payable | 17/49 | €21,314 | €16,037 | -€5,277 | -24.8% |
| Amounts payable within one year | 42/48 | €21,314 | €16,037 | -€5,277 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €10,111 | €2,491 | -€7,620 | -75.4% |
| Trade debts | 44 | €5,261 | €11,535 | +€6,274 | +119% |
| Suppliers | 440/4 | €5,261 | €11,535 | +€6,274 | +119% |
| Taxes, remuneration and social security | 45 | €5,942 | €2,011 | -€3,931 | -66.2% |
| Taxes | 450/3 | €5,942 | €2,011 | -€3,931 | -66.2% |
| Turnover | 70 | - | €265,775 | +€265,775 | |
| Non-recurring operating income | 76A | €100,983 | - | -€100,983 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €252,803 | +€252,803 | |
| Remuneration, social security and pensions | 62 | €19,980 | €22,471 | +€2,491 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,815 | €8,053 | -€7,762 | -49.1% |
| Other operating charges | 640/8 | €1,247 | €3,392 | +€2,145 | +172% |
| Gross operating margin | 9900 | €28,941 | €12,971 | -€15,969 | -55.2% |
| Operating profit (loss) | 9901 | -€8,101 | -€20,944 | -€12,843 | -159% |
| Financial income | 75/76B | €139 | - | -€139 | |
| Recurring financial income | 75 | €139 | - | -€139 | |
| Financial charges | 65/66B | €3,418 | €3,021 | -€397 | -11.6% |
| Recurring financial charges | 65 | €3,418 | €3,021 | -€397 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,380 | -€23,965 | -€12,585 | -111% |
| Transfer from deferred taxes | 780 | €2,708 | €2,708 | = | 0.0% |
| Income taxes | 67/77 | €918 | €86 | -€832 | -90.6% |
| Profit (loss) for the period | 9904 | -€9,591 | -€21,344 | -€11,753 | -123% |
| Transfer from tax-exempt reserves | 789 | €10,289 | €10,289 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €698 | -€11,055 | -€11,753 |
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.