TOP CLASSICS: 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.
TOP CLASSICS
Largest movements
- Stocks and contracts -€2.2m
down €2.2m (-68.1%), from €3.3m to €1.0m
- Receivables within one year -€448,793
down €448,793 (-89.1%), from €503,776 to €54,984
of which Trade receivables: -€440,873
- Short-term financial debts -€1.1m
down €1.1m (-68.0%), from €1.6m to €498,564
- Trade debts -€893,595
down €893,595 (-67.0%), from €1.3m to €440,242
- Profit (loss) carried forward -€336,962
down €336,962 (-75.5%), from €446,558 to €109,596
- Tax, wage and social debts -€244,234
down €244,234 (-81.6%), from €299,126 to €54,892
- Other debts -€131,732
down €131,732 (-74.2%), from €177,577 to €45,845
- Gross operating margin -€569,636
down €569,636, from €334,718 to -€234,918
- Taxes -€63,326
down €63,326, from €63,282 to -€45
- Depreciation +€10,705
up €10,705 (+41.7%), from €25,700 to €36,404
- Financial charges -€4,517
down €4,517 (-6.9%), from €65,871 to €61,354
- Other operating charges +€4,283
up €4,283 (+834%), from €513 to €4,796
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 | €3,891,005 | €1,197,454 | -€2.7m | -69.2% |
| Fixed assets | 21/28 | €118,041 | €100,966 | -€17,074 | -14.5% |
| Intangible fixed assets | 21 | €21,695 | €14,032 | -€7,663 | -35.3% |
| Tangible fixed assets | 22/27 | €96,345 | €86,934 | -€9,411 | -9.8% |
| Plant, machinery and equipment | 23 | €32,847 | €23,397 | -€9,450 | -28.8% |
| Furniture and vehicles | 24 | €63,499 | €63,537 | +€39 | +0.1% |
| Current assets | 29/58 | €3,772,964 | €1,096,488 | -€2.7m | -70.9% |
| Stocks and contracts in progress | 3 | €3,251,888 | €1,038,778 | -€2.2m | -68.1% |
| Stocks | 30/36 | €3,251,888 | €1,038,778 | -€2.2m | -68.1% |
| Amounts receivable within one year | 40/41 | €503,776 | €54,984 | -€448,793 | -89.1% |
| Trade receivables | 40 | €461,318 | €20,445 | -€440,873 | -95.6% |
| Other amounts receivable | 41 | €42,458 | €34,539 | -€7,920 | -18.7% |
| Cash at bank and in hand | 54/58 | €187 | €187 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €17,113 | €2,539 | -€14,574 | -85.2% |
| Total equity and liabilities | 10/49 | €3,891,005 | €1,197,454 | -€2.7m | -69.2% |
| Equity | 10/15 | €460,818 | €123,856 | -€336,962 | -73.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €446,558 | €109,596 | -€336,962 | -75.5% |
| Amounts payable | 17/49 | €3,430,186 | €1,073,598 | -€2.4m | -68.7% |
| Amounts payable after more than one year | 17 | €24,160 | €9,012 | -€15,148 | -62.7% |
| Financial debts | 170/4 | €24,160 | €9,012 | -€15,148 | -62.7% |
| Amounts payable within one year | 42/48 | €3,384,298 | €1,055,938 | -€2.3m | -68.8% |
| Current portion of amounts payable after more than one year | 42 | €15,993 | €16,394 | +€401 | +2.5% |
| Financial debts | 43 | €1,557,765 | €498,564 | -€1.1m | -68.0% |
| Credit institutions | 430/8 | €1,557,765 | €498,564 | -€1.1m | -68.0% |
| Trade debts | 44 | €1,333,837 | €440,242 | -€893,595 | -67.0% |
| Suppliers | 440/4 | €1,333,837 | €440,242 | -€893,595 | -67.0% |
| Taxes, remuneration and social security | 45 | €299,126 | €54,892 | -€244,234 | -81.6% |
| Taxes | 450/3 | €299,126 | €54,892 | -€244,234 | -81.6% |
| Other amounts payable | 47/48 | €177,577 | €45,845 | -€131,732 | -74.2% |
| Accrued charges and deferred income | 492/3 | €21,729 | €8,648 | -€13,080 | -60.2% |
| Non-recurring operating income | 76A | €4,199 | €0 | -€4,199 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,700 | €36,404 | +€10,705 | +41.7% |
| Other operating charges | 640/8 | €513 | €4,796 | +€4,283 | +834% |
| Gross operating margin | 9900 | €334,718 | -€234,918 | -€569,636 | |
| Operating profit (loss) | 9901 | €308,505 | -€276,119 | -€584,625 | |
| Financial income | 75/76B | €900 | €467 | -€433 | -48.2% |
| Recurring financial income | 75 | €900 | €467 | -€433 | -48.2% |
| Financial charges | 65/66B | €65,871 | €61,354 | -€4,517 | -6.9% |
| Recurring financial charges | 65 | €65,871 | €61,354 | -€4,517 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €243,534 | -€337,007 | -€580,541 | |
| Income taxes | 67/77 | €63,282 | -€45 | -€63,326 | |
| Profit (loss) for the period | 9904 | €180,252 | -€336,962 | -€517,215 | |
| Profit (loss) for the period to be appropriated | 9905 | €180,252 | -€336,962 | -€517,215 |
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.