THE POINT: 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 POINT
Largest movements
- Receivables within one year -€18,610
down €18,610 (-64.4%), from €28,892 to €10,282
of which Trade receivables: -€26,041
- Cash +€17,366
up €17,366 (+18.4%), from €94,329 to €111,695
mainly Trade debts (+€28,894) and Receivables within one year (+€18,610)
- Tangible fixed assets +€4,863
up €4,863 (+2.2%), from €222,906 to €227,769
of which Furniture and vehicles: +€18,610
- Trade debts +€28,894
up €28,894 (+148%), from €19,567 to €48,461
- Profit (loss) carried forward +€15,307
up €15,307 (+20.6%), from €74,358 to €89,666
- Debts after one year -€15,287
down €15,287 (-10.3%), from €147,835 to €132,548
- Other debts -€11,415
down €11,415 (-13.5%), from €84,388 to €72,974
- Current portion of long-term debt -€10,308
down €10,308 (-40.3%), from €25,595 to €15,287
- Gross operating margin -€14,016
down €14,016 (-12.9%), from €108,736 to €94,720
- Depreciation -€13,118
down €13,118 (-47.2%), from €27,786 to €14,668
- Other operating charges +€5,665
up €5,665 (+166%), from €3,411 to €9,076
- Financial charges +€2,573
up €2,573 (+94.4%), from €2,726 to €5,300
- Staff costs +€2,296
up €2,296 (+5.4%), from €42,833 to €45,129
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 | €400,827 | €404,931 | +€4,104 | +1.0% |
| Fixed assets | 21/28 | €222,966 | €227,829 | +€4,863 | +2.2% |
| Tangible fixed assets | 22/27 | €222,906 | €227,769 | +€4,863 | +2.2% |
| Land and buildings | 22 | €169,974 | €164,000 | -€5,974 | -3.5% |
| Plant, machinery and equipment | 23 | €45,377 | €37,604 | -€7,773 | -17.1% |
| Furniture and vehicles | 24 | €7,554 | €26,164 | +€18,610 | +246% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €177,861 | €177,102 | -€759 | -0.4% |
| Stocks and contracts in progress | 3 | €54,641 | €55,125 | +€485 | +0.9% |
| Stocks | 30/36 | €54,641 | €55,125 | +€485 | +0.9% |
| Amounts receivable within one year | 40/41 | €28,892 | €10,282 | -€18,610 | -64.4% |
| Trade receivables | 40 | €27,316 | €1,275 | -€26,041 | -95.3% |
| Other amounts receivable | 41 | €1,576 | €9,007 | +€7,431 | +472% |
| Cash at bank and in hand | 54/58 | €94,329 | €111,695 | +€17,366 | +18.4% |
| Total equity and liabilities | 10/49 | €400,827 | €404,931 | +€4,104 | +1.0% |
| Equity | 10/15 | €80,558 | €95,866 | +€15,307 | +19.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,358 | €89,666 | +€15,307 | +20.6% |
| Amounts payable | 17/49 | €320,268 | €309,065 | -€11,203 | -3.5% |
| Amounts payable after more than one year | 17 | €147,835 | €132,548 | -€15,287 | -10.3% |
| Financial debts | 170/4 | €147,835 | €132,548 | -€15,287 | -10.3% |
| Amounts payable within one year | 42/48 | €172,434 | €176,517 | +€4,083 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €25,595 | €15,287 | -€10,308 | -40.3% |
| Trade debts | 44 | €19,567 | €48,461 | +€28,894 | +148% |
| Suppliers | 440/4 | €19,567 | €48,461 | +€28,894 | +148% |
| Taxes, remuneration and social security | 45 | €42,884 | €39,796 | -€3,088 | -7.2% |
| Taxes | 450/3 | €38,157 | €37,191 | -€966 | -2.5% |
| Remuneration and social security | 454/9 | €4,727 | €2,605 | -€2,122 | -44.9% |
| Other amounts payable | 47/48 | €84,388 | €72,974 | -€11,415 | -13.5% |
| Non-recurring operating income | 76A | €3,487 | - | -€3,487 | |
| Remuneration, social security and pensions | 62 | €42,833 | €45,129 | +€2,296 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,786 | €14,668 | -€13,118 | -47.2% |
| Other operating charges | 640/8 | €3,411 | €9,076 | +€5,665 | +166% |
| Gross operating margin | 9900 | €108,736 | €94,720 | -€14,016 | -12.9% |
| Operating profit (loss) | 9901 | €34,706 | €25,848 | -€8,859 | -25.5% |
| Financial income | 75/76B | €797 | €1,241 | +€444 | +55.7% |
| Recurring financial income | 75 | €797 | €1,241 | +€444 | +55.7% |
| Financial charges | 65/66B | €2,726 | €5,300 | +€2,573 | +94.4% |
| Recurring financial charges | 65 | €2,726 | €5,300 | +€2,573 | +94.4% |
| Profit (loss) for the period before taxes | 9903 | €32,777 | €21,790 | -€10,988 | -33.5% |
| Income taxes | 67/77 | €7,563 | €6,482 | -€1,081 | -14.3% |
| Profit (loss) for the period | 9904 | €25,214 | €15,307 | -€9,906 | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €25,214 | €15,307 | -€9,906 | -39.3% |
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 13 October 2026 via checked.be.