THINK MORE: 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.
THINK MORE
Largest movements
- Tangible fixed assets +€32,370
up €32,370 (+35.7%), from €90,632 to €123,002
of which Plant, machinery and equipment: +€29,953
- Receivables within one year +€11,469
up €11,469 (+14.5%), from €78,872 to €90,341
of which Other amounts receivable: +€9,429
- Intangible fixed assets +€9,838
up €9,838 (+7.1%), from €138,367 to €148,205
- Cash -€9,024
down €9,024 (-51.2%), from €17,624 to €8,600
mainly Trade debts (-€45,486) and Investment in fixed assets (net) (-€42,208)
- Stocks and contracts +€7,540
new in 2025: €7,540
- Other debts +€78,330
up €78,330 (+35.2%), from €222,752 to €301,082
- Trade debts -€45,486
down €45,486 (-76.9%), from €59,165 to €13,679
- Tax, wage and social debts +€16,245
up €16,245 (+370%), from €4,389 to €20,634
- Gross operating margin +€24,337
up €24,337 (+945%), from €2,576 to €26,913
- Staff costs +€19,503
up €19,503 (+964%), from €2,024 to €21,527
- Financial charges +€1,411
new in 2025: €1,411
- Other operating charges +€509
new in 2025: €509
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 | €325,495 | €377,820 | +€52,325 | +16.1% |
| Fixed assets | 21/28 | €228,999 | €271,207 | +€42,208 | +18.4% |
| Intangible fixed assets | 21 | €138,367 | €148,205 | +€9,838 | +7.1% |
| Tangible fixed assets | 22/27 | €90,632 | €123,002 | +€32,370 | +35.7% |
| Plant, machinery and equipment | 23 | €28,763 | €58,716 | +€29,953 | +104% |
| Furniture and vehicles | 24 | €61,869 | €64,286 | +€2,417 | +3.9% |
| Current assets | 29/58 | €96,496 | €106,613 | +€10,117 | +10.5% |
| Stocks and contracts in progress | 3 | - | €7,540 | +€7,540 | |
| Stocks | 30/36 | - | €7,540 | +€7,540 | |
| Amounts receivable within one year | 40/41 | €78,872 | €90,341 | +€11,469 | +14.5% |
| Trade receivables | 40 | €7,667 | €9,707 | +€2,040 | +26.6% |
| Other amounts receivable | 41 | €71,205 | €80,634 | +€9,429 | +13.2% |
| Cash at bank and in hand | 54/58 | €17,624 | €8,600 | -€9,024 | -51.2% |
| Deferred charges and accrued income | 490/1 | - | €132 | +€132 | |
| Total equity and liabilities | 10/49 | €325,495 | €377,820 | +€52,325 | +16.1% |
| Equity | 10/15 | €39,189 | €42,425 | +€3,236 | +8.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,100 | €1,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,100 | €1,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,100 | €1,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,489 | €22,725 | +€3,236 | +16.6% |
| Amounts payable | 17/49 | €286,306 | €335,395 | +€49,089 | +17.1% |
| Amounts payable within one year | 42/48 | €286,306 | €335,395 | +€49,089 | +17.1% |
| Trade debts | 44 | €59,165 | €13,679 | -€45,486 | -76.9% |
| Suppliers | 440/4 | €59,165 | €13,679 | -€45,486 | -76.9% |
| Taxes, remuneration and social security | 45 | €4,389 | €20,634 | +€16,245 | +370% |
| Taxes | 450/3 | €4,389 | €20,634 | +€16,245 | +370% |
| Other amounts payable | 47/48 | €222,752 | €301,082 | +€78,330 | +35.2% |
| Remuneration, social security and pensions | 62 | €2,024 | €21,527 | +€19,503 | +964% |
| Other operating charges | 640/8 | - | €509 | +€509 | |
| Non-recurring operating charges | 66A | - | €230 | +€230 | |
| Gross operating margin | 9900 | €2,576 | €26,913 | +€24,337 | +945% |
| Operating profit (loss) | 9901 | €552 | €4,647 | +€4,095 | +742% |
| Financial charges | 65/66B | - | €1,411 | +€1,411 | |
| Recurring financial charges | 65 | - | €1,411 | +€1,411 | |
| Profit (loss) for the period before taxes | 9903 | €552 | €3,236 | +€2,684 | +486% |
| Profit (loss) for the period | 9904 | €552 | €3,236 | +€2,684 | +486% |
| Profit (loss) for the period to be appropriated | 9905 | €552 | €3,236 | +€2,684 | +486% |
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 15 October 2026 via checked.be.