The gc: 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.
The gc
Largest movements
- Deferred charges and accrued income -€147,330
down €147,330 (-25.7%), from €573,887 to €426,558
- Tangible fixed assets +€68,984
up €68,984 (+35.9%), from €192,049 to €261,033
of which Plant, machinery and equipment: +€67,969
- Intangible fixed assets -€41,576
down €41,576 (-40.0%), from €103,941 to €62,364
- Receivables within one year +€23,238
up €23,238 (+9.3%), from €248,810 to €272,048
- Trade debts -€101,226
down €101,226 (-11.8%), from €860,599 to €759,373
- Other debts -€99,865
down €99,865 (-47.1%), from €212,089 to €112,223
- Tax, wage and social debts +€48,550
up €48,550 (+27.9%), from €174,153 to €222,703
of which Taxes: +€98,718
- Debts after one year +€21,541
new in 2024: €21,541
- Profit (loss) carried forward +€14,007
up €14,007 (+9.1%), from -€154,135 to -€140,128
- Staff costs +€32,873
up €32,873 (+4.6%), from €708,935 to €741,809
- Gross operating margin +€29,144
up €29,144 (+3.6%), from €810,764 to €839,908
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,172,725 | €1,055,713 | -€117,012 | -10.0% |
| Fixed assets | 21/28 | €305,388 | €323,398 | +€18,010 | +5.9% |
| Intangible fixed assets | 21 | €103,941 | €62,364 | -€41,576 | -40.0% |
| Tangible fixed assets | 22/27 | €192,049 | €261,033 | +€68,984 | +35.9% |
| Plant, machinery and equipment | 23 | €192,049 | €260,019 | +€67,969 | +35.4% |
| Furniture and vehicles | 24 | - | €1,015 | +€1,015 | |
| Financial fixed assets | 28 | €9,398 | €0 | -€9,398 | -100% |
| Current assets | 29/58 | €867,337 | €732,315 | -€135,022 | -15.6% |
| Stocks and contracts in progress | 3 | €32,792 | €32,792 | = | 0.0% |
| Stocks | 30/36 | €32,792 | €32,792 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €248,810 | €272,048 | +€23,238 | +9.3% |
| Trade receivables | 40 | €248,810 | €272,048 | +€23,238 | +9.3% |
| Cash at bank and in hand | 54/58 | €11,847 | €916 | -€10,930 | -92.3% |
| Deferred charges and accrued income | 490/1 | €573,887 | €426,558 | -€147,330 | -25.7% |
| Total equity and liabilities | 10/49 | €1,172,725 | €1,055,713 | -€117,012 | -10.0% |
| Equity | 10/15 | -€74,135 | -€60,128 | +€14,007 | +18.9% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€154,135 | -€140,128 | +€14,007 | +9.1% |
| Amounts payable | 17/49 | €1,246,859 | €1,115,840 | -€131,019 | -10.5% |
| Amounts payable after more than one year | 17 | - | €21,541 | +€21,541 | |
| Other amounts payable | 178/9 | - | €21,541 | +€21,541 | |
| Amounts payable within one year | 42/48 | €1,246,859 | €1,094,300 | -€152,560 | -12.2% |
| Trade debts | 44 | €860,599 | €759,373 | -€101,226 | -11.8% |
| Suppliers | 440/4 | €860,599 | €759,373 | -€101,226 | -11.8% |
| Advances received on contracts in progress | 46 | €18 | - | -€18 | |
| Taxes, remuneration and social security | 45 | €174,153 | €222,703 | +€48,550 | +27.9% |
| Taxes | 450/3 | €12,075 | €110,793 | +€98,718 | +818% |
| Remuneration and social security | 454/9 | €162,078 | €111,910 | -€50,168 | -31.0% |
| Other amounts payable | 47/48 | €212,089 | €112,223 | -€99,865 | -47.1% |
| Remuneration, social security and pensions | 62 | €708,935 | €741,809 | +€32,873 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,849 | €83,473 | -€2,376 | -2.8% |
| Other operating charges | 640/8 | €1,511 | €1,019 | -€492 | -32.6% |
| Gross operating margin | 9900 | €810,764 | €839,908 | +€29,144 | +3.6% |
| Operating profit (loss) | 9901 | €14,468 | €13,607 | -€861 | -6.0% |
| Financial income | 75/76B | - | €876 | +€876 | |
| Recurring financial income | 75 | - | €876 | +€876 | |
| Financial charges | 65/66B | €3,035 | €468 | -€2,567 | -84.6% |
| Recurring financial charges | 65 | €3,035 | €468 | -€2,567 | -84.6% |
| Profit (loss) for the period before taxes | 9903 | €11,433 | €14,016 | +€2,583 | +22.6% |
| Income taxes | 67/77 | - | €9 | +€9 | |
| Profit (loss) for the period | 9904 | €11,433 | €14,007 | +€2,574 | +22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €11,433 | €14,007 | +€2,574 | +22.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.