TOP LEVEL MANAGEMENT SERVICES: 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 LEVEL MANAGEMENT SERVICES
Largest movements
- Cash -€45,377
down €45,377 (-39.0%), from €116,303 to €70,926
mainly Tax, wage and social debts (-€23,677) and Receivables within one year (-€10,190)
- Receivables within one year +€10,190
up €10,190 (+295.4%), from €3,450 to €13,640
of which Trade receivables: +€10,190
- Tangible fixed assets -€6,241
down €6,241 (-12.5%), from €49,945 to €43,704
of which Other tangible fixed assets: -€5,294
- Tax, wage and social debts -€23,677
down €23,677 (-98.9%), from €23,942 to €266
- Current portion of long-term debt -€6,570
down €6,570 (-61.8%), from €10,625 to €4,055
- Profit (loss) carried forward -€6,300
down €6,300 (-20.6%), from -€30,541 to -€36,841
- Debts after one year -€4,055
down €4,055 (-9.8%), from €41,559 to €37,504
- Gross operating margin +€25,069
up €25,069, from -€22,575 to €2,495
- Depreciation +€2,065
up €2,065 (+49.5%), from €4,176 to €6,241
- Taxes -€1,181
no longer reported in 2025 (was €1,181)
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 | €170,566 | €129,130 | -€41,437 | -24.3% |
| Fixed assets | 21/28 | €49,945 | €43,704 | -€6,241 | -12.5% |
| Tangible fixed assets | 22/27 | €49,945 | €43,704 | -€6,241 | -12.5% |
| Plant, machinery and equipment | 23 | €1,020 | €73 | -€947 | -92.9% |
| Other tangible fixed assets | 26 | €48,925 | €43,631 | -€5,294 | -10.8% |
| Current assets | 29/58 | €120,621 | €85,426 | -€35,196 | -29.2% |
| Amounts receivable within one year | 40/41 | €3,450 | €13,640 | +€10,190 | +295.4% |
| Trade receivables | 40 | - | €10,190 | +€10,190 | |
| Other amounts receivable | 41 | €3,450 | €3,450 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €116,303 | €70,926 | -€45,377 | -39.0% |
| Deferred charges and accrued income | 490/1 | €869 | €860 | -€8 | -1.0% |
| Total equity and liabilities | 10/49 | €170,566 | €129,130 | -€41,437 | -24.3% |
| Equity | 10/15 | €74,660 | €68,361 | -€6,300 | -8.4% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €98,202 | €98,202 | = | 0.0% |
| Distributable reserves | 133 | €98,202 | €98,202 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,541 | -€36,841 | -€6,300 | -20.6% |
| Amounts payable | 17/49 | €95,906 | €60,769 | -€35,137 | -36.6% |
| Amounts payable after more than one year | 17 | €41,559 | €37,504 | -€4,055 | -9.8% |
| Financial debts | 170/4 | €41,559 | €37,504 | -€4,055 | -9.8% |
| Amounts payable within one year | 42/48 | €41,047 | €9,965 | -€31,082 | -75.7% |
| Current portion of amounts payable after more than one year | 42 | €10,625 | €4,055 | -€6,570 | -61.8% |
| Trade debts | 44 | €19 | €598 | +€579 | +2987.3% |
| Suppliers | 440/4 | €19 | €598 | +€579 | +2987.3% |
| Taxes, remuneration and social security | 45 | €23,942 | €266 | -€23,677 | -98.9% |
| Taxes | 450/3 | €23,942 | €266 | -€23,677 | -98.9% |
| Other amounts payable | 47/48 | €6,460 | €5,046 | -€1,414 | -21.9% |
| Accrued charges and deferred income | 492/3 | €13,300 | €13,300 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,176 | €6,241 | +€2,065 | +49.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€22,575 | €2,495 | +€25,069 | |
| Operating profit (loss) | 9901 | -€27,138 | -€4,146 | +€22,992 | +84.7% |
| Financial charges | 65/66B | €2,242 | €2,154 | -€88 | -3.9% |
| Recurring financial charges | 65 | €2,242 | €2,154 | -€88 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | -€29,380 | -€6,300 | +€23,080 | +78.6% |
| Income taxes | 67/77 | €1,181 | - | -€1,181 | |
| Profit (loss) for the period | 9904 | -€30,561 | -€6,300 | +€24,262 | +79.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,561 | -€6,300 | +€24,262 | +79.4% |
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 12 October 2026 via checked.be.