TIN-KEY BRUSSELS: 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.
TIN-KEY BRUSSELS
Largest movements
- Stocks and contracts +€52,574
up €52,574 (+34.5%), from €152,424 to €204,998
- Receivables within one year +€23,424
new in 2025: €23,424
of which Trade receivables: +€23,186
- Cash -€5,275
down €5,275 (-95.3%), from €5,535 to €260
mainly Stocks and contracts (-€52,574) and Tax, wage and social debts (-€26,651)
- Deferred charges and accrued income -€2,348
down €2,348 (-32.1%), from €7,315 to €4,967
- Other debts +€119,100
up €119,100 (+167%), from €71,529 to €190,629
- Tax, wage and social debts -€26,651
down €26,651 (-76.0%), from €35,079 to €8,428
of which Remuneration and social security: -€25,208
- Profit (loss) carried forward -€10,185
down €10,185 (-24.4%), from -€41,682 to -€51,868
- Advances received -€10,069
down €10,069 (-23.5%), from €42,849 to €32,780
- Short-term financial debts +€8,062
up €8,062 (+26.2%), from €30,804 to €38,866
of which Credit institutions: +€9,202
- Gross operating margin +€39,256
up €39,256, from -€4,046 to €35,211
- Financial charges +€1,424
up €1,424 (+16.6%), from €8,589 to €10,013
- Staff costs -€750
down €750 (-2.1%), from €35,608 to €34,858
- Other operating charges -€741
down €741 (-64.9%), from €1,140 to €400
- Financial income -€695
down €695 (-87.3%), from €796 to €101
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 | €165,394 | €233,649 | +€68,255 | +41.3% |
| Fixed assets | 21/28 | €120 | - | -€120 | |
| Financial fixed assets | 28 | €120 | - | -€120 | |
| Current assets | 29/58 | €165,274 | €233,649 | +€68,375 | +41.4% |
| Stocks and contracts in progress | 3 | €152,424 | €204,998 | +€52,574 | +34.5% |
| Stocks | 30/36 | €152,424 | €204,998 | +€52,574 | +34.5% |
| Amounts receivable within one year | 40/41 | - | €23,424 | +€23,424 | |
| Trade receivables | 40 | - | €23,186 | +€23,186 | |
| Other amounts receivable | 41 | - | €239 | +€239 | |
| Cash at bank and in hand | 54/58 | €5,535 | €260 | -€5,275 | -95.3% |
| Deferred charges and accrued income | 490/1 | €7,315 | €4,967 | -€2,348 | -32.1% |
| Total equity and liabilities | 10/49 | €165,394 | €233,649 | +€68,255 | +41.3% |
| Equity | 10/15 | -€36,682 | -€46,868 | -€10,185 | -27.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,682 | -€51,868 | -€10,185 | -24.4% |
| Amounts payable | 17/49 | €202,076 | €280,516 | +€78,440 | +38.8% |
| Amounts payable after more than one year | 17 | €7,618 | €3,635 | -€3,983 | -52.3% |
| Financial debts | 170/4 | €7,618 | €3,635 | -€3,983 | -52.3% |
| Amounts payable within one year | 42/48 | €194,446 | €276,881 | +€82,435 | +42.4% |
| Current portion of amounts payable after more than one year | 42 | €10,006 | €3,983 | -€6,024 | -60.2% |
| Financial debts | 43 | €30,804 | €38,866 | +€8,062 | +26.2% |
| Credit institutions | 430/8 | €26,594 | €35,796 | +€9,202 | +34.6% |
| Other loans | 439 | €4,210 | €3,070 | -€1,140 | -27.1% |
| Trade debts | 44 | €4,179 | €2,196 | -€1,983 | -47.5% |
| Suppliers | 440/4 | €4,179 | €2,196 | -€1,983 | -47.5% |
| Advances received on contracts in progress | 46 | €42,849 | €32,780 | -€10,069 | -23.5% |
| Taxes, remuneration and social security | 45 | €35,079 | €8,428 | -€26,651 | -76.0% |
| Taxes | 450/3 | €4,438 | €2,994 | -€1,444 | -32.5% |
| Remuneration and social security | 454/9 | €30,642 | €5,434 | -€25,208 | -82.3% |
| Other amounts payable | 47/48 | €71,529 | €190,629 | +€119,100 | +167% |
| Accrued charges and deferred income | 492/3 | €12 | - | -€12 | |
| Remuneration, social security and pensions | 62 | €35,608 | €34,858 | -€750 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76 | - | -€76 | |
| Other operating charges | 640/8 | €1,140 | €400 | -€741 | -64.9% |
| Gross operating margin | 9900 | -€4,046 | €35,211 | +€39,256 | |
| Operating profit (loss) | 9901 | -€40,870 | -€47 | +€40,823 | +99.9% |
| Financial income | 75/76B | €796 | €101 | -€695 | -87.3% |
| Recurring financial income | 75 | €796 | €101 | -€695 | -87.3% |
| Financial charges | 65/66B | €8,589 | €10,013 | +€1,424 | +16.6% |
| Recurring financial charges | 65 | €8,589 | €10,013 | +€1,424 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | -€48,662 | -€9,959 | +€38,703 | +79.5% |
| Income taxes | 67/77 | €241 | €226 | -€15 | -6.2% |
| Profit (loss) for the period | 9904 | -€48,904 | -€10,185 | +€38,718 | +79.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€48,904 | -€10,185 | +€38,718 | +79.2% |
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 14 October 2026 via checked.be.