THE GLOBAL PICTURE: 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 GLOBAL PICTURE
Largest movements
- Tangible fixed assets -€13,677
down €13,677 (-6.7%), from €204,269 to €190,592
of which Land and buildings: -€12,923
- Receivables within one year -€11,976
down €11,976 (-19.9%), from €60,219 to €48,243
of which Trade receivables: -€27,117
- Intangible fixed assets -€6,708
down €6,708 (-15.4%), from €43,520 to €36,812
- Cash -€3,655
down €3,655 (-41.0%), from €8,907 to €5,252
mainly Advances received (-€45,009) and Debts after one year (-€11,718)
- Advances received -€45,009
no longer reported in 2024 (was €45,009)
- Reserves +€17,320
up €17,320 (+31.2%), from €55,551 to €72,870
of which Distributable reserves: +€17,320
- Debts after one year -€11,718
down €11,718 (-5.8%), from €203,348 to €191,630
- Profit (loss) carried forward +€5,423
no longer reported in 2024 (was -€5,423)
- Trade debts -€4,491
down €4,491 (-18.3%), from €24,536 to €20,045
- Gross operating margin +€32,256
up €32,256 (+105%), from €30,828 to €63,084
- Taxes +€4,514
up €4,514 (+122%), from €3,714 to €8,228
- Financial income +€1,094
up €1,094 (+2,235%), from €49 to €1,143
- Financial charges +€942
up €942 (+10.8%), from €8,726 to €9,667
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 | €355,502 | €318,495 | -€37,007 | -10.4% |
| Fixed assets | 21/28 | €247,789 | €227,405 | -€20,385 | -8.2% |
| Intangible fixed assets | 21 | €43,520 | €36,812 | -€6,708 | -15.4% |
| Tangible fixed assets | 22/27 | €204,269 | €190,592 | -€13,677 | -6.7% |
| Land and buildings | 22 | €202,128 | €189,205 | -€12,923 | -6.4% |
| Plant, machinery and equipment | 23 | €488 | €241 | -€248 | -50.7% |
| Furniture and vehicles | 24 | €1,653 | €1,147 | -€507 | -30.6% |
| Current assets | 29/58 | €107,712 | €91,090 | -€16,622 | -15.4% |
| Amounts receivable within one year | 40/41 | €60,219 | €48,243 | -€11,976 | -19.9% |
| Trade receivables | 40 | €45,001 | €17,884 | -€27,117 | -60.3% |
| Other amounts receivable | 41 | €15,218 | €30,359 | +€15,141 | +99.5% |
| Cash at bank and in hand | 54/58 | €8,907 | €5,252 | -€3,655 | -41.0% |
| Deferred charges and accrued income | 490/1 | €38,586 | €37,595 | -€991 | -2.6% |
| Total equity and liabilities | 10/49 | €355,502 | €318,495 | -€37,007 | -10.4% |
| Equity | 10/15 | €62,527 | €85,270 | +€22,743 | +36.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €55,551 | €72,870 | +€17,320 | +31.2% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €53,696 | €71,015 | +€17,320 | +32.3% |
| Profit (loss) carried forward | 14 | -€5,423 | - | +€5,423 | |
| Amounts payable | 17/49 | €292,974 | €233,225 | -€59,750 | -20.4% |
| Amounts payable after more than one year | 17 | €203,348 | €191,630 | -€11,718 | -5.8% |
| Financial debts | 170/4 | €203,348 | €191,630 | -€11,718 | -5.8% |
| Amounts payable within one year | 42/48 | €88,387 | €40,712 | -€47,675 | -53.9% |
| Current portion of amounts payable after more than one year | 42 | €11,212 | €11,718 | +€506 | +4.5% |
| Financial debts | 43 | €1,814 | - | -€1,814 | |
| Credit institutions | 430/8 | €1,814 | - | -€1,814 | |
| Trade debts | 44 | €24,536 | €20,045 | -€4,491 | -18.3% |
| Suppliers | 440/4 | €24,536 | €20,045 | -€4,491 | -18.3% |
| Advances received on contracts in progress | 46 | €45,009 | - | -€45,009 | |
| Taxes, remuneration and social security | 45 | €5,570 | €8,506 | +€2,936 | +52.7% |
| Taxes | 450/3 | €5,570 | €8,506 | +€2,936 | +52.7% |
| Other amounts payable | 47/48 | €246 | €444 | +€198 | +80.5% |
| Accrued charges and deferred income | 492/3 | €1,239 | €882 | -€357 | -28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,404 | €20,385 | -€19 | -0.1% |
| Other operating charges | 640/8 | €3,457 | €3,203 | -€253 | -7.3% |
| Gross operating margin | 9900 | €30,828 | €63,084 | +€32,256 | +105% |
| Operating profit (loss) | 9901 | €6,968 | €39,495 | +€32,528 | +467% |
| Financial income | 75/76B | €49 | €1,143 | +€1,094 | +2,235% |
| Recurring financial income | 75 | €49 | €1,143 | +€1,094 | +2,235% |
| Financial charges | 65/66B | €8,726 | €9,667 | +€942 | +10.8% |
| Recurring financial charges | 65 | €8,726 | €9,667 | +€942 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,709 | €30,971 | +€32,680 | |
| Income taxes | 67/77 | €3,714 | €8,228 | +€4,514 | +122% |
| Profit (loss) for the period | 9904 | -€5,423 | €22,743 | +€28,166 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,423 | €22,743 | +€28,166 |
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 1 November 2026 via checked.be.