THE SKIPPER: what changed
THE SKIPPER
Largest movements
- Receivables within one year +€22,307
up €22,307 (+80.6%), from €27,694 to €50,001
of which Other amounts receivable: +€19,505
- Cash -€5,836
down €5,836 (-66.2%), from €8,809 to €2,973
mainly Receivables within one year (-€22,307) and Tax, wage and social debts (-€1,499)
- Deferred charges and accrued income -€1,050
no longer reported in 2025 (was €1,050)
- Tangible fixed assets -€925
down €925 (-46.1%), from €2,008 to €1,083
of which Plant, machinery and equipment: -€678
- Trade debts +€15,730
up €15,730 (+401%), from €3,922 to €19,652
- Tax, wage and social debts -€1,499
down €1,499 (-16.0%), from €9,353 to €7,854
of which Taxes: -€1,942
- Current portion of long-term debt +€578
up €578 (+5.4%), from €10,752 to €11,330
- Gross operating margin -€14,630
down €14,630 (-25.5%), from €57,405 to €42,775
- Staff costs +€8,895
up €8,895 (+32.2%), from €27,595 to €36,490
- Taxes -€3,870
down €3,870 (-89.5%), from €4,323 to €453
- Financial charges +€1,395
up €1,395 (+54.1%), from €2,578 to €3,973
- Other operating charges -€1,022
down €1,022 (-49.8%), from €2,054 to €1,032
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,802 | €54,513 | +€14,711 | +37.0% |
| Fixed assets | 21/28 | €2,008 | €1,083 | -€925 | -46.1% |
| Tangible fixed assets | 22/27 | €2,008 | €1,083 | -€925 | -46.1% |
| Land and buildings | 22 | €619 | €372 | -€247 | -39.9% |
| Plant, machinery and equipment | 23 | €1,389 | €711 | -€678 | -48.8% |
| Current assets | 29/58 | €37,793 | €53,430 | +€15,637 | +41.4% |
| Stocks and contracts in progress | 3 | €241 | €456 | +€215 | +89.2% |
| Stocks | 30/36 | €241 | €456 | +€215 | +89.2% |
| Amounts receivable within one year | 40/41 | €27,694 | €50,001 | +€22,307 | +80.6% |
| Trade receivables | 40 | - | €2,802 | +€2,802 | |
| Other amounts receivable | 41 | €27,694 | €47,199 | +€19,505 | +70.4% |
| Cash at bank and in hand | 54/58 | €8,809 | €2,973 | -€5,836 | -66.2% |
| Deferred charges and accrued income | 490/1 | €1,050 | - | -€1,050 | |
| Total equity and liabilities | 10/49 | €39,802 | €54,513 | +€14,711 | +37.0% |
| Equity | 10/15 | €15,775 | €15,677 | -€98 | -0.6% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €4,565 | €4,565 | +€0 | 0.0% |
| Distributable reserves | 133 | €4,565 | €4,565 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €11,211 | €11,112 | -€99 | -0.9% |
| Amounts payable | 17/49 | €24,026 | €38,836 | +€14,810 | +61.6% |
| Amounts payable within one year | 42/48 | €24,026 | €38,836 | +€14,810 | +61.6% |
| Current portion of amounts payable after more than one year | 42 | €10,752 | €11,330 | +€578 | +5.4% |
| Trade debts | 44 | €3,922 | €19,652 | +€15,730 | +401% |
| Suppliers | 440/4 | €3,922 | €19,652 | +€15,730 | +401% |
| Taxes, remuneration and social security | 45 | €9,353 | €7,854 | -€1,499 | -16.0% |
| Taxes | 450/3 | €8,121 | €6,179 | -€1,942 | -23.9% |
| Remuneration and social security | 454/9 | €1,231 | €1,675 | +€444 | +36.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €27,595 | €36,490 | +€8,895 | +32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €926 | €926 | +€0 | 0.0% |
| Other operating charges | 640/8 | €2,054 | €1,032 | -€1,022 | -49.8% |
| Gross operating margin | 9900 | €57,405 | €42,775 | -€14,630 | -25.5% |
| Operating profit (loss) | 9901 | €26,830 | €4,327 | -€22,503 | -83.9% |
| Financial charges | 65/66B | €2,578 | €3,973 | +€1,395 | +54.1% |
| Recurring financial charges | 65 | €2,578 | €3,973 | +€1,395 | +54.1% |
| Profit (loss) for the period before taxes | 9903 | €24,252 | €354 | -€23,898 | -98.5% |
| Income taxes | 67/77 | €4,323 | €453 | -€3,870 | -89.5% |
| Profit (loss) for the period | 9904 | €19,929 | -€99 | -€20,028 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,929 | -€99 | -€20,028 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.