The wheel stuff: 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 wheel stuff
Largest movements
- Receivables within one year +€2,419
up €2,419 (+27.6%), from €8,755 to €11,174
of which Trade receivables: +€1,472
- Cash +€2,342
up €2,342 (+29.6%), from €7,905 to €10,247
mainly Other debts (+€2,821) and Net result for the year (+€1,634)
- Stocks and contracts -€957
down €957 (-2.0%), from €48,150 to €47,193
- Other debts +€2,821
up €2,821 (+13.0%), from €21,722 to €24,543
- Reserves +€1,634
up €1,634 (+8.2%), from €19,892 to €21,526
- Trade debts +€1,567
up €1,567 (+108%), from €1,451 to €3,018
- Current portion of long-term debt -€890
down €890 (-100%), from €890 to €0
- Gross operating margin -€4,446
down €4,446 (-47.8%), from €9,296 to €4,850
- Taxes -€1,168
down €1,168 (-68.2%), from €1,713 to €545
- Depreciation -€408
down €408 (-49.4%), from €827 to €419
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 | €68,762 | €72,812 | +€4,050 | +5.9% |
| Fixed assets | 21/28 | €3,862 | €3,443 | -€419 | -10.8% |
| Tangible fixed assets | 22/27 | €3,862 | €3,443 | -€419 | -10.8% |
| Land and buildings | 22 | €3,684 | €3,443 | -€241 | -6.5% |
| Plant, machinery and equipment | 23 | €178 | €0 | -€178 | -100% |
| Current assets | 29/58 | €64,900 | €69,369 | +€4,468 | +6.9% |
| Stocks and contracts in progress | 3 | €48,150 | €47,193 | -€957 | -2.0% |
| Stocks | 30/36 | €48,150 | €47,193 | -€957 | -2.0% |
| Amounts receivable within one year | 40/41 | €8,755 | €11,174 | +€2,419 | +27.6% |
| Trade receivables | 40 | €8,745 | €10,216 | +€1,472 | +16.8% |
| Other amounts receivable | 41 | €11 | €958 | +€948 | +8,973% |
| Cash at bank and in hand | 54/58 | €7,905 | €10,247 | +€2,342 | +29.6% |
| Deferred charges and accrued income | 490/1 | €90 | €754 | +€664 | +737% |
| Total equity and liabilities | 10/49 | €68,762 | €72,812 | +€4,050 | +5.9% |
| Equity | 10/15 | €32,392 | €34,026 | +€1,634 | +5.0% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €19,892 | €21,526 | +€1,634 | +8.2% |
| Distributable reserves | 133 | €19,892 | €21,526 | +€1,634 | +8.2% |
| Amounts payable | 17/49 | €36,370 | €38,786 | +€2,416 | +6.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €36,370 | €38,786 | +€2,416 | +6.6% |
| Current portion of amounts payable after more than one year | 42 | €890 | €0 | -€890 | -100% |
| Trade debts | 44 | €1,451 | €3,018 | +€1,567 | +108% |
| Suppliers | 440/4 | €1,451 | €3,018 | +€1,567 | +108% |
| Advances received on contracts in progress | 46 | €8,726 | €8,026 | -€700 | -8.0% |
| Taxes, remuneration and social security | 45 | €3,581 | €3,199 | -€382 | -10.7% |
| Taxes | 450/3 | €3,581 | €3,199 | -€382 | -10.7% |
| Other amounts payable | 47/48 | €21,722 | €24,543 | +€2,821 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €827 | €419 | -€408 | -49.4% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €9,296 | €4,850 | -€4,446 | -47.8% |
| Operating profit (loss) | 9901 | €7,963 | €3,911 | -€4,052 | -50.9% |
| Financial income | 75/76B | €11 | €46 | +€35 | +303% |
| Recurring financial income | 75 | €11 | €46 | +€35 | +303% |
| Financial charges | 65/66B | €1,759 | €1,779 | +€21 | +1.2% |
| Recurring financial charges | 65 | €1,759 | €1,779 | +€21 | +1.2% |
| Profit (loss) for the period before taxes | 9903 | €6,216 | €2,178 | -€4,038 | -65.0% |
| Income taxes | 67/77 | €1,713 | €545 | -€1,168 | -68.2% |
| Profit (loss) for the period | 9904 | €4,503 | €1,634 | -€2,869 | -63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,503 | €1,634 | -€2,869 | -63.7% |
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 17 October 2026 via checked.be.