TOP JAMES: 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.
TOP JAMES
Largest movements
- Receivables within one year -€560,876
down €560,876 (-94.9%), from €591,108 to €30,232
of which Trade receivables: -€572,624
- Tangible fixed assets -€32,958
down €32,958 (-6.9%), from €479,202 to €446,244
of which Land and buildings: -€32,198
- Advances received -€528,093
no longer reported in 2025 (was €528,093)
- Trade debts -€32,659
no longer reported in 2025 (was €32,659)
- Debts after one year -€22,731
down €22,731 (-7.8%), from €289,823 to €267,092
- Other debts -€22,218
down €22,218 (-7.5%), from €297,000 to €274,782
- Gross operating margin +€20,431
up €20,431 (+12.0%), from €170,367 to €190,798
- Staff costs +€18,881
up €18,881 (+16.3%), from €115,943 to €134,825
- Depreciation -€2,027
down €2,027 (-4.1%), from €48,906 to €46,879
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 | €1,179,797 | €581,320 | -€598,478 | -50.7% |
| Fixed assets | 21/28 | €535,035 | €492,077 | -€42,958 | -8.0% |
| Intangible fixed assets | 21 | €55,833 | €45,833 | -€10,000 | -17.9% |
| Tangible fixed assets | 22/27 | €479,202 | €446,244 | -€32,958 | -6.9% |
| Land and buildings | 22 | €474,038 | €441,840 | -€32,198 | -6.8% |
| Plant, machinery and equipment | 23 | €5,164 | €4,404 | -€760 | -14.7% |
| Current assets | 29/58 | €644,762 | €89,242 | -€555,520 | -86.2% |
| Stocks and contracts in progress | 3 | €18,417 | €18,043 | -€374 | -2.0% |
| Stocks | 30/36 | €18,417 | €18,043 | -€374 | -2.0% |
| Amounts receivable within one year | 40/41 | €591,108 | €30,232 | -€560,876 | -94.9% |
| Trade receivables | 40 | €575,226 | €2,602 | -€572,624 | -99.5% |
| Other amounts receivable | 41 | €15,882 | €27,631 | +€11,748 | +74.0% |
| Cash at bank and in hand | 54/58 | €34,591 | €38,246 | +€3,655 | +10.6% |
| Deferred charges and accrued income | 490/1 | €646 | €2,722 | +€2,075 | +321.2% |
| Total equity and liabilities | 10/49 | €1,179,797 | €581,320 | -€598,478 | -50.7% |
| Equity | 10/15 | -€17,070 | -€21,268 | -€4,198 | -24.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,070 | -€46,268 | -€4,198 | -10.0% |
| Amounts payable | 17/49 | €1,196,867 | €602,587 | -€594,280 | -49.7% |
| Amounts payable after more than one year | 17 | €289,823 | €267,092 | -€22,731 | -7.8% |
| Financial debts | 170/4 | €289,823 | €267,092 | -€22,731 | -7.8% |
| Amounts payable within one year | 42/48 | €907,044 | €335,495 | -€571,549 | -63.0% |
| Current portion of amounts payable after more than one year | 42 | €22,731 | €22,731 | = | 0.0% |
| Trade debts | 44 | €32,659 | - | -€32,659 | |
| Suppliers | 440/4 | €32,659 | - | -€32,659 | |
| Advances received on contracts in progress | 46 | €528,093 | - | -€528,093 | |
| Taxes, remuneration and social security | 45 | €26,562 | €37,982 | +€11,421 | +43.0% |
| Taxes | 450/3 | €12,004 | €13,800 | +€1,796 | +15.0% |
| Remuneration and social security | 454/9 | €14,558 | €24,182 | +€9,624 | +66.1% |
| Other amounts payable | 47/48 | €297,000 | €274,782 | -€22,218 | -7.5% |
| Remuneration, social security and pensions | 62 | €115,943 | €134,825 | +€18,881 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,906 | €46,879 | -€2,027 | -4.1% |
| Other operating charges | 640/8 | €943 | €2,788 | +€1,845 | +195.5% |
| Gross operating margin | 9900 | €170,367 | €190,798 | +€20,431 | +12.0% |
| Operating profit (loss) | 9901 | €4,574 | €6,306 | +€1,732 | +37.9% |
| Financial income | 75/76B | €5 | €728 | +€724 | +15767.8% |
| Recurring financial income | 75 | €5 | €728 | +€724 | +15767.8% |
| Financial charges | 65/66B | €8,277 | €9,966 | +€1,689 | +20.4% |
| Recurring financial charges | 65 | €8,277 | €9,966 | +€1,689 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,698 | -€2,932 | +€766 | +20.7% |
| Income taxes | 67/77 | €419 | €1,266 | +€846 | +201.8% |
| Profit (loss) for the period | 9904 | -€4,118 | -€4,198 | -€80 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,118 | -€4,198 | -€80 | -1.9% |
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.