TB: 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.
TB
Largest movements
- Receivables within one year -€30,273
down €30,273 (-54.5%), from €55,595 to €25,322
of which Trade receivables: -€39,218
- Cash +€27,442
up €27,442 (+13.3%), from €206,347 to €233,789
mainly Other debts (+€35,266) and Receivables within one year (+€30,273)
- Tangible fixed assets -€8,773
down €8,773 (-15.8%), from €55,685 to €46,912
of which Furniture and vehicles: -€5,099
- Other debts +€35,266
up €35,266 (+22.1%), from €159,892 to €195,158
- Trade debts -€34,404
down €34,404 (-25.7%), from €134,000 to €99,596
- Advances received -€10,767
down €10,767 (-100.0%), from €10,767 to €0
- Current portion of long-term debt -€4,018
down €4,018 (-58.1%), from €6,920 to €2,902
- Gross operating margin -€21,189
down €21,189 (-13.5%), from €157,127 to €135,938
- Staff costs -€10,337
down €10,337 (-8.0%), from €128,682 to €118,345
- Depreciation -€7,272
down €7,272 (-45.3%), from €16,045 to €8,773
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 | €349,503 | €338,663 | -€10,839 | -3.1% |
| Fixed assets | 21/28 | €60,287 | €51,514 | -€8,773 | -14.6% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €55,685 | €46,912 | -€8,773 | -15.8% |
| Land and buildings | 22 | €4,268 | €3,969 | -€298 | -7.0% |
| Plant, machinery and equipment | 23 | €4,135 | €2,898 | -€1,237 | -29.9% |
| Furniture and vehicles | 24 | €30,554 | €25,455 | -€5,099 | -16.7% |
| Other tangible fixed assets | 26 | €16,728 | €14,590 | -€2,138 | -12.8% |
| Financial fixed assets | 28 | €4,602 | €4,602 | = | 0.0% |
| Current assets | 29/58 | €289,216 | €287,149 | -€2,067 | -0.7% |
| Stocks and contracts in progress | 3 | €26,809 | €27,526 | +€718 | +2.7% |
| Stocks | 30/36 | €26,809 | €27,526 | +€718 | +2.7% |
| Amounts receivable within one year | 40/41 | €55,595 | €25,322 | -€30,273 | -54.5% |
| Trade receivables | 40 | €55,009 | €15,791 | -€39,218 | -71.3% |
| Other amounts receivable | 41 | €586 | €9,530 | +€8,944 | +1526.0% |
| Cash at bank and in hand | 54/58 | €206,347 | €233,789 | +€27,442 | +13.3% |
| Deferred charges and accrued income | 490/1 | €465 | €512 | +€47 | +10.1% |
| Total equity and liabilities | 10/49 | €349,503 | €338,663 | -€10,839 | -3.1% |
| Equity | 10/15 | €20,055 | €21,783 | +€1,727 | +8.6% |
| Contributions | 10/11 | €15,200 | €15,200 | = | 0.0% |
| Reserves | 13 | €4,855 | €6,583 | +€1,727 | +35.6% |
| Non-distributable reserves | 130/1 | €136 | €136 | = | 0.0% |
| Reserves not available under the articles | 1311 | €136 | €136 | = | 0.0% |
| Distributable reserves | 133 | €4,719 | €6,447 | +€1,727 | +36.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €329,448 | €316,881 | -€12,567 | -3.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €329,448 | €316,881 | -€12,567 | -3.8% |
| Current portion of amounts payable after more than one year | 42 | €6,920 | €2,902 | -€4,018 | -58.1% |
| Trade debts | 44 | €134,000 | €99,596 | -€34,404 | -25.7% |
| Suppliers | 440/4 | €134,000 | €99,596 | -€34,404 | -25.7% |
| Advances received on contracts in progress | 46 | €10,767 | €0 | -€10,767 | -100.0% |
| Taxes, remuneration and social security | 45 | €17,869 | €19,224 | +€1,355 | +7.6% |
| Taxes | 450/3 | €2,078 | €4,862 | +€2,784 | +134.0% |
| Remuneration and social security | 454/9 | €15,791 | €14,363 | -€1,428 | -9.0% |
| Other amounts payable | 47/48 | €159,892 | €195,158 | +€35,266 | +22.1% |
| Remuneration, social security and pensions | 62 | €128,682 | €118,345 | -€10,337 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,045 | €8,773 | -€7,272 | -45.3% |
| Other operating charges | 640/8 | €2,875 | €3,011 | +€135 | +4.7% |
| Gross operating margin | 9900 | €157,127 | €135,938 | -€21,189 | -13.5% |
| Operating profit (loss) | 9901 | €9,525 | €5,810 | -€3,715 | -39.0% |
| Financial income | 75/76B | €40 | €32 | -€7 | -18.7% |
| Recurring financial income | 75 | €40 | €32 | -€7 | -18.7% |
| Financial charges | 65/66B | €2,731 | €3,002 | +€271 | +9.9% |
| Recurring financial charges | 65 | €2,731 | €3,002 | +€271 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €6,834 | €2,840 | -€3,994 | -58.4% |
| Income taxes | 67/77 | €1,653 | €1,113 | -€540 | -32.7% |
| Profit (loss) for the period | 9904 | €5,181 | €1,727 | -€3,453 | -66.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,181 | €1,727 | -€3,453 | -66.7% |
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 3 October 2026 via checked.be.