TO WALK AGAIN: what changed
TO WALK AGAIN
Largest movements
- Tangible fixed assets +€111,331
up €111,331 (+2,535%), from €4,392 to €115,723
of which Plant, machinery and equipment: +€110,632
- Receivables within one year -€94,174
down €94,174 (-45.3%), from €207,755 to €113,581
of which Other amounts receivable: -€102,980
- Cash +€79,637
up €79,637 (+38.8%), from €205,496 to €285,133
mainly Net result for the year (+€137,729) and Receivables within one year (+€94,174)
- Deferred charges and accrued income -€46,959
down €46,959 (-83.6%), from €56,143 to €9,184
- Profit (loss) carried forward +€137,729
up €137,729 (+10.5%), from €1.3m to €1.5m
- Debts after one year -€57,619
down €57,619 (-52.2%), from €110,397 to €52,779
- Gross operating margin -€81,412
down €81,412 (-33.6%), from €242,142 to €160,730
- Depreciation -€34,087
down €34,087 (-79.8%), from €42,723 to €8,636
- Other operating charges +€3,611
up €3,611 (+228%), from €1,586 to €5,197
- Staff costs +€2,563
up €2,563 (+47.9%), from €5,348 to €7,911
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 | €1,625,826 | €1,682,229 | +€56,402 | +3.5% |
| Fixed assets | 21/28 | €7,170 | €115,734 | +€108,563 | +1,514% |
| Intangible fixed assets | 21 | €2,778 | €11 | -€2,768 | -99.6% |
| Tangible fixed assets | 22/27 | €4,392 | €115,723 | +€111,331 | +2,535% |
| Plant, machinery and equipment | 23 | €3,318 | €113,950 | +€110,632 | +3,334% |
| Furniture and vehicles | 24 | €1,074 | €1,773 | +€699 | +65.1% |
| Current assets | 29/58 | €1,618,656 | €1,566,495 | -€52,161 | -3.2% |
| Amounts receivable after more than one year | 29 | €1,142,459 | €1,158,596 | +€16,137 | +1.4% |
| Other amounts receivable | 291 | €1,142,459 | €1,158,596 | +€16,137 | +1.4% |
| Stocks and contracts in progress | 3 | €6,803 | €0 | -€6,803 | -100% |
| Stocks | 30/36 | €6,803 | €0 | -€6,803 | -100% |
| Amounts receivable within one year | 40/41 | €207,755 | €113,581 | -€94,174 | -45.3% |
| Trade receivables | 40 | €2,275 | €11,081 | +€8,806 | +387% |
| Other amounts receivable | 41 | €205,480 | €102,500 | -€102,980 | -50.1% |
| Cash at bank and in hand | 54/58 | €205,496 | €285,133 | +€79,637 | +38.8% |
| Deferred charges and accrued income | 490/1 | €56,143 | €9,184 | -€46,959 | -83.6% |
| Total equity and liabilities | 10/49 | €1,625,826 | €1,682,229 | +€56,402 | +3.5% |
| Equity | 10/15 | €1,336,132 | €1,473,861 | +€137,729 | +10.3% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,316,132 | €1,453,861 | +€137,729 | +10.5% |
| Amounts payable | 17/49 | €289,694 | €208,368 | -€81,327 | -28.1% |
| Amounts payable after more than one year | 17 | €110,397 | €52,779 | -€57,619 | -52.2% |
| Financial debts | 170/4 | €110,397 | €52,779 | -€57,619 | -52.2% |
| Amounts payable within one year | 42/48 | €178,497 | €154,789 | -€23,708 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €44,578 | €37,619 | -€6,960 | -15.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €133,919 | €117,171 | -€16,748 | -12.5% |
| Suppliers | 440/4 | €133,919 | €117,171 | -€16,748 | -12.5% |
| Accrued charges and deferred income | 492/3 | €800 | €800 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €5,348 | €7,911 | +€2,563 | +47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,723 | €8,636 | -€34,087 | -79.8% |
| Other operating charges | 640/8 | €1,586 | €5,197 | +€3,611 | +228% |
| Gross operating margin | 9900 | €242,142 | €160,730 | -€81,412 | -33.6% |
| Operating profit (loss) | 9901 | €192,485 | €138,986 | -€53,498 | -27.8% |
| Financial income | 75/76B | €173 | €472 | +€299 | +173% |
| Recurring financial income | 75 | €173 | €472 | +€299 | +173% |
| Financial charges | 65/66B | €2,439 | €1,730 | -€709 | -29.1% |
| Recurring financial charges | 65 | €2,439 | €1,730 | -€709 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €190,219 | €137,729 | -€52,490 | -27.6% |
| Profit (loss) for the period | 9904 | €190,219 | €137,729 | -€52,490 | -27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €190,219 | €137,729 | -€52,490 | -27.6% |
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.