Table22: 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.
Table22
Largest movements
- Stocks and contracts +€38,456
up €38,456 (+89.6%), from €42,934 to €81,390
- Cash +€17,041
up €17,041 (+15.8%), from €108,110 to €125,151
mainly Net result for the year (+€83,853) and Other debts (+€60,000)
- Receivables within one year +€10,450
up €10,450 (+104.0%), from €10,049 to €20,499
of which Trade receivables: +€16,093
- Tangible fixed assets +€6,122
up €6,122 (+4.0%), from €151,635 to €157,758
of which Land and buildings: +€14,406
- Other debts +€60,000
new in 2025: €60,000
- Debts after one year -€20,071
down €20,071 (-70.6%), from €28,425 to €8,354
- Profit (loss) carried forward +€13,265
up €13,265 (+6.7%), from €196,781 to €210,045
- Trade debts +€11,230
up €11,230 (+64.1%), from €17,526 to €28,756
- Tax, wage and social debts +€8,319
up €8,319 (+28.4%), from €29,253 to €37,572
of which Taxes: +€8,214
- Gross operating margin +€43,346
up €43,346 (+18.9%), from €229,265 to €272,611
- Staff costs +€18,425
up €18,425 (+18.3%), from €100,797 to €119,222
- Depreciation +€5,311
up €5,311 (+14.8%), from €35,989 to €41,300
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 | €315,054 | €384,798 | +€69,745 | +22.1% |
| Fixed assets | 21/28 | €151,635 | €157,758 | +€6,122 | +4.0% |
| Tangible fixed assets | 22/27 | €151,635 | €157,758 | +€6,122 | +4.0% |
| Land and buildings | 22 | €44,246 | €58,652 | +€14,406 | +32.6% |
| Plant, machinery and equipment | 23 | €40,977 | €34,058 | -€6,919 | -16.9% |
| Furniture and vehicles | 24 | €55,198 | €54,583 | -€615 | -1.1% |
| Other tangible fixed assets | 26 | €11,214 | €10,464 | -€750 | -6.7% |
| Current assets | 29/58 | €163,418 | €227,041 | +€63,622 | +38.9% |
| Stocks and contracts in progress | 3 | €42,934 | €81,390 | +€38,456 | +89.6% |
| Stocks | 30/36 | €42,934 | €81,390 | +€38,456 | +89.6% |
| Amounts receivable within one year | 40/41 | €10,049 | €20,499 | +€10,450 | +104.0% |
| Trade receivables | 40 | €400 | €16,493 | +€16,093 | +4023.3% |
| Other amounts receivable | 41 | €9,649 | €4,006 | -€5,643 | -58.5% |
| Cash at bank and in hand | 54/58 | €108,110 | €125,151 | +€17,041 | +15.8% |
| Deferred charges and accrued income | 490/1 | €2,326 | - | -€2,326 | |
| Total equity and liabilities | 10/49 | €315,054 | €384,798 | +€69,745 | +22.1% |
| Equity | 10/15 | €216,781 | €230,045 | +€13,265 | +6.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €196,781 | €210,045 | +€13,265 | +6.7% |
| Amounts payable | 17/49 | €98,273 | €154,753 | +€56,480 | +57.5% |
| Amounts payable after more than one year | 17 | €28,425 | €8,354 | -€20,071 | -70.6% |
| Financial debts | 170/4 | €28,425 | €8,354 | -€20,071 | -70.6% |
| Amounts payable within one year | 42/48 | €69,848 | €146,400 | +€76,551 | +109.6% |
| Current portion of amounts payable after more than one year | 42 | €23,069 | €20,071 | -€2,998 | -13.0% |
| Trade debts | 44 | €17,526 | €28,756 | +€11,230 | +64.1% |
| Suppliers | 440/4 | €17,526 | €28,756 | +€11,230 | +64.1% |
| Taxes, remuneration and social security | 45 | €29,253 | €37,572 | +€8,319 | +28.4% |
| Taxes | 450/3 | €20,458 | €28,672 | +€8,214 | +40.2% |
| Remuneration and social security | 454/9 | €8,795 | €8,900 | +€105 | +1.2% |
| Other amounts payable | 47/48 | - | €60,000 | +€60,000 | |
| Remuneration, social security and pensions | 62 | €100,797 | €119,222 | +€18,425 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,989 | €41,300 | +€5,311 | +14.8% |
| Other operating charges | 640/8 | €2,000 | €2,648 | +€648 | +32.4% |
| Gross operating margin | 9900 | €229,265 | €272,611 | +€43,346 | +18.9% |
| Operating profit (loss) | 9901 | €90,478 | €109,440 | +€18,961 | +21.0% |
| Financial income | 75/76B | €172 | €174 | +€2 | +1.3% |
| Recurring financial income | 75 | €172 | €174 | +€2 | +1.3% |
| Financial charges | 65/66B | €2,374 | €2,730 | +€356 | +15.0% |
| Recurring financial charges | 65 | €2,374 | €2,730 | +€356 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €88,276 | €106,884 | +€18,608 | +21.1% |
| Income taxes | 67/77 | €20,373 | €23,031 | +€2,658 | +13.0% |
| Profit (loss) for the period | 9904 | €67,903 | €83,853 | +€15,950 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €67,903 | €83,853 | +€15,950 | +23.5% |
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 5 October 2026 via checked.be.