TAX CONSULT: 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.
TAX CONSULT
Largest movements
- Receivables within one year -€48,599
down €48,599 (-9.5%), from €510,029 to €461,430
of which Trade receivables: -€69,121
- Deferred charges and accrued income +€41,776
up €41,776 (+62.5%), from €66,822 to €108,598
- Tangible fixed assets -€27,660
down €27,660 (-19.1%), from €144,488 to €116,828
of which Other tangible fixed assets: -€14,802
- Short-term financial debts -€159,695
down €159,695 (-75.6%), from €211,162 to €51,467
- Trade debts +€112,339
up €112,339 (+182%), from €61,767 to €174,106
of which Suppliers: +€107,275
- Debts after one year +€37,297
up €37,297 (+50.5%), from €73,874 to €111,171
- Current portion of long-term debt +€29,177
up €29,177 (+127%), from €22,887 to €52,064
- Accrued charges and deferred income -€28,370
down €28,370 (-33.2%), from €85,544 to €57,174
- Gross operating margin -€82,915
down €82,915 (-11.3%), from €734,230 to €651,315
- Staff costs +€51,902
up €51,902 (+10.3%), from €501,537 to €553,439
- Other operating charges -€32,735
down €32,735 (-81.6%), from €40,122 to €7,386
- Taxes -€24,041
down €24,041 (-75.1%), from €32,028 to €7,986
- Depreciation -€18,085
down €18,085 (-24.2%), from €74,790 to €56,705
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 | €905,548 | €871,978 | -€33,570 | -3.7% |
| Fixed assets | 21/28 | €184,841 | €160,779 | -€24,062 | -13.0% |
| Intangible fixed assets | 21 | €16,915 | €20,525 | +€3,611 | +21.3% |
| Tangible fixed assets | 22/27 | €144,488 | €116,828 | -€27,660 | -19.1% |
| Plant, machinery and equipment | 23 | €34,538 | €24,831 | -€9,707 | -28.1% |
| Furniture and vehicles | 24 | €34,987 | €31,835 | -€3,151 | -9.0% |
| Other tangible fixed assets | 26 | €74,963 | €60,161 | -€14,802 | -19.7% |
| Financial fixed assets | 28 | €23,439 | €23,426 | -€12 | -0.1% |
| Current assets | 29/58 | €720,706 | €711,198 | -€9,508 | -1.3% |
| Amounts receivable within one year | 40/41 | €510,029 | €461,430 | -€48,599 | -9.5% |
| Trade receivables | 40 | €486,976 | €417,855 | -€69,121 | -14.2% |
| Other amounts receivable | 41 | €23,054 | €43,576 | +€20,522 | +89.0% |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €143,855 | €141,170 | -€2,685 | -1.9% |
| Deferred charges and accrued income | 490/1 | €66,822 | €108,598 | +€41,776 | +62.5% |
| Total equity and liabilities | 10/49 | €905,548 | €871,978 | -€33,570 | -3.7% |
| Equity | 10/15 | €312,618 | €316,490 | +€3,872 | +1.2% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €7,736 | €7,736 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,736 | €7,736 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €236 | €236 | = | 0.0% |
| Profit (loss) carried forward | 14 | €228,648 | €233,049 | +€4,400 | +1.9% |
| Investment grants | 15 | €1,233 | €705 | -€528 | -42.8% |
| Provisions and deferred taxes | 16 | €411 | €235 | -€176 | -42.8% |
| Deferred taxes | 168 | €411 | €235 | -€176 | -42.8% |
| Amounts payable | 17/49 | €592,518 | €555,252 | -€37,266 | -6.3% |
| Amounts payable after more than one year | 17 | €73,874 | €111,171 | +€37,297 | +50.5% |
| Financial debts | 170/4 | €73,874 | €111,171 | +€37,297 | +50.5% |
| Amounts payable within one year | 42/48 | €433,100 | €386,907 | -€46,193 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €22,887 | €52,064 | +€29,177 | +127% |
| Financial debts | 43 | €211,162 | €51,467 | -€159,695 | -75.6% |
| Credit institutions | 430/8 | €211,162 | €51,467 | -€159,695 | -75.6% |
| Trade debts | 44 | €61,767 | €174,106 | +€112,339 | +182% |
| Suppliers | 440/4 | €61,767 | €169,042 | +€107,275 | +174% |
| Bills of exchange payable | 441 | - | €5,063 | +€5,063 | |
| Taxes, remuneration and social security | 45 | €103,548 | €85,567 | -€17,981 | -17.4% |
| Taxes | 450/3 | €38,154 | €23,061 | -€15,092 | -39.6% |
| Remuneration and social security | 454/9 | €65,394 | €62,505 | -€2,889 | -4.4% |
| Other amounts payable | 47/48 | €33,736 | €23,703 | -€10,033 | -29.7% |
| Accrued charges and deferred income | 492/3 | €85,544 | €57,174 | -€28,370 | -33.2% |
| Non-recurring operating income | 76A | €3 | €36,897 | +€36,894 | +1,322,382% |
| Remuneration, social security and pensions | 62 | €501,537 | €553,439 | +€51,902 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,790 | €56,705 | -€18,085 | -24.2% |
| Other operating charges | 640/8 | €40,122 | €7,386 | -€32,735 | -81.6% |
| Gross operating margin | 9900 | €734,230 | €651,315 | -€82,915 | -11.3% |
| Operating profit (loss) | 9901 | €117,782 | €33,786 | -€83,997 | -71.3% |
| Financial income | 75/76B | €831 | €528 | -€303 | -36.5% |
| Recurring financial income | 75 | €831 | €528 | -€303 | -36.5% |
| Financial charges | 65/66B | €19,596 | €22,103 | +€2,507 | +12.8% |
| Recurring financial charges | 65 | €19,596 | €22,103 | +€2,507 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €99,017 | €12,211 | -€86,807 | -87.7% |
| Transfer from deferred taxes | 780 | €117 | €176 | +€59 | +50.6% |
| Income taxes | 67/77 | €32,028 | €7,986 | -€24,041 | -75.1% |
| Profit (loss) for the period | 9904 | €67,107 | €4,400 | -€62,707 | -93.4% |
| Profit (loss) for the period to be appropriated | 9905 | €67,107 | €4,400 | -€62,707 | -93.4% |
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 21 October 2026 via checked.be.