TIN BOX: what changed
Two fiscal 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.
TIN BOX
Largest movements
- Receivables after one year -€97,550
no longer reported in 2025 (was €97,550)
of which Trade receivables: -€96,950
- Receivables within one year +€94,382
new in 2025: €94,382
of which Trade receivables: +€93,412
- Intangible fixed assets -€16,102
down €16,102 (-24.5%), from €65,706 to €49,605
- Cash -€14,986
down €14,986 (-59.8%), from €25,043 to €10,057
mainly Receivables within one year (-€94,382) and Debts after one year (-€23,757)
- Tangible fixed assets -€9,220
down €9,220 (-21.4%), from €43,055 to €33,834
of which Furniture and vehicles: -€7,888
- Debts after one year -€23,757
down €23,757 (-54.2%), from €43,822 to €20,065
- Current portion of long-term debt -€18,327
down €18,327 (-43.5%), from €42,084 to €23,757
- Reserves +€15,068
up €15,068 (+17.7%), from €85,065 to €100,133
- Tax, wage and social debts -€6,203
down €6,203 (-13.6%), from €45,721 to €39,518
of which Taxes: -€9,018
- Other debts -€5,900
down €5,900 (-38.2%), from €15,430 to €9,530
- Staff costs +€18,505
up €18,505 (+20.7%), from €89,517 to €108,022
- Taxes -€3,930
down €3,930 (-39.5%), from €9,943 to €6,013
- Gross operating margin -€3,660
down €3,660 (-2.2%), from €167,865 to €164,206
- Write-downs +€2,492
new in 2025: €2,492
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.
Cash bridge derived
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 | €234,853 | €193,519 | -€41,335 | -17.6% |
| Fixed assets | 21/28 | €112,211 | €86,889 | -€25,322 | -22.6% |
| Intangible fixed assets | 21 | €65,706 | €49,605 | -€16,102 | -24.5% |
| Tangible fixed assets | 22/27 | €43,055 | €33,834 | -€9,220 | -21.4% |
| Plant, machinery and equipment | 23 | €1,219 | €856 | -€362 | -29.7% |
| Furniture and vehicles | 24 | €37,734 | €29,846 | -€7,888 | -20.9% |
| Other tangible fixed assets | 26 | €4,102 | €3,132 | -€970 | -23.6% |
| Financial fixed assets | 28 | €3,450 | €3,450 | = | 0.0% |
| Current assets | 29/58 | €122,643 | €106,630 | -€16,013 | -13.1% |
| Amounts receivable after more than one year | 29 | €97,550 | - | -€97,550 | |
| Trade receivables | 290 | €96,950 | - | -€96,950 | |
| Other amounts receivable | 291 | €600 | - | -€600 | |
| Amounts receivable within one year | 40/41 | - | €94,382 | +€94,382 | |
| Trade receivables | 40 | - | €93,412 | +€93,412 | |
| Other amounts receivable | 41 | - | €970 | +€970 | |
| Cash at bank and in hand | 54/58 | €25,043 | €10,057 | -€14,986 | -59.8% |
| Deferred charges and accrued income | 490/1 | €50 | €2,191 | +€2,141 | +4279.1% |
| Total equity and liabilities | 10/49 | €234,853 | €193,519 | -€41,335 | -17.6% |
| Equity | 10/15 | €85,065 | €100,133 | +€15,068 | +17.7% |
| Reserves | 13 | €85,065 | €100,133 | +€15,068 | +17.7% |
| Distributable reserves | 133 | €85,065 | €100,133 | +€15,068 | +17.7% |
| Amounts payable | 17/49 | €149,789 | €93,386 | -€56,403 | -37.7% |
| Amounts payable after more than one year | 17 | €43,822 | €20,065 | -€23,757 | -54.2% |
| Financial debts | 170/4 | €43,822 | €20,065 | -€23,757 | -54.2% |
| Amounts payable within one year | 42/48 | €105,967 | €73,320 | -€32,646 | -30.8% |
| Current portion of amounts payable after more than one year | 42 | €42,084 | €23,757 | -€18,327 | -43.5% |
| Trade debts | 44 | €2,731 | €516 | -€2,216 | -81.1% |
| Suppliers | 440/4 | €2,731 | €516 | -€2,216 | -81.1% |
| Taxes, remuneration and social security | 45 | €45,721 | €39,518 | -€6,203 | -13.6% |
| Taxes | 450/3 | €31,056 | €22,038 | -€9,018 | -29.0% |
| Remuneration and social security | 454/9 | €14,666 | €17,480 | +€2,815 | +19.2% |
| Other amounts payable | 47/48 | €15,430 | €9,530 | -€5,900 | -38.2% |
| Remuneration, social security and pensions | 62 | €89,517 | €108,022 | +€18,505 | +20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,395 | €28,617 | -€778 | -2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,492 | +€2,492 | |
| Other operating charges | 640/8 | €1,646 | €953 | -€694 | -42.1% |
| Gross operating margin | 9900 | €167,865 | €164,206 | -€3,660 | -2.2% |
| Operating profit (loss) | 9901 | €47,307 | €24,122 | -€23,185 | -49.0% |
| Financial income | 75/76B | €897 | €185 | -€712 | -79.4% |
| Recurring financial income | 75 | €897 | €185 | -€712 | -79.4% |
| Financial charges | 65/66B | €3,093 | €2,393 | -€700 | -22.6% |
| Recurring financial charges | 65 | €3,093 | €2,393 | -€700 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €45,110 | €21,914 | -€23,196 | -51.4% |
| Income taxes | 67/77 | €9,943 | €6,013 | -€3,930 | -39.5% |
| Profit (loss) for the period | 9904 | €35,167 | €15,901 | -€19,266 | -54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,167 | €15,901 | -€19,266 | -54.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.