TOP SERIES: 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 SERIES
Largest movements
- Deferred charges and accrued income -€72,108
down €72,108 (-23.4%), from €308,091 to €235,983
- Receivables within one year -€30,548
down €30,548 (-42.3%), from €72,237 to €41,690
of which Trade receivables: -€32,809
- Tangible fixed assets -€20,160
down €20,160 (-4.6%), from €438,888 to €418,728
of which Land and buildings: -€14,483
- Cash +€9,075
up €9,075 (+503%), from €1,806 to €10,880
mainly Deferred charges and accrued income (+€72,108) and Receivables within one year (+€30,548)
- Intangible fixed assets +€9,000
new in 2025: €9,000
- Debts after one year -€87,517
down €87,517 (-13.1%), from €666,762 to €579,245
- Profit (loss) carried forward +€16,821
up €16,821 (+38.9%), from -€43,292 to -€26,471
- Other debts -€16,490
down €16,490 (-62.0%), from €26,601 to €10,112
- Tax, wage and social debts -€12,481
no longer reported in 2025 (was €12,481)
of which Remuneration and social security: -€11,581
- Purchases and services +€408,296
new in 2025: €408,296
- Turnover +€130,013
up €130,013 (+36.8%), from €353,096 to €483,109
- Gross operating margin +€38,274
up €38,274 (+105%), from €36,538 to €74,813
- Financial income -€14,630
down €14,630 (-98.3%), from €14,876 to €246
of which Non-recurring financial income: -€14,876
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 | €859,506 | €750,248 | -€109,258 | -12.7% |
| Formation expenses | 20 | €1,244 | €622 | -€622 | -50.0% |
| Fixed assets | 21/28 | €439,108 | €427,948 | -€11,160 | -2.5% |
| Intangible fixed assets | 21 | - | €9,000 | +€9,000 | |
| Tangible fixed assets | 22/27 | €438,888 | €418,728 | -€20,160 | -4.6% |
| Land and buildings | 22 | €407,517 | €393,034 | -€14,483 | -3.6% |
| Plant, machinery and equipment | 23 | €22,441 | €20,511 | -€1,930 | -8.6% |
| Furniture and vehicles | 24 | €8,929 | €5,183 | -€3,746 | -42.0% |
| Financial fixed assets | 28 | €220 | €220 | = | 0.0% |
| Current assets | 29/58 | €419,154 | €321,678 | -€97,476 | -23.3% |
| Stocks and contracts in progress | 3 | €37,020 | €33,125 | -€3,895 | -10.5% |
| Stocks | 30/36 | €37,020 | €33,125 | -€3,895 | -10.5% |
| Amounts receivable within one year | 40/41 | €72,237 | €41,690 | -€30,548 | -42.3% |
| Trade receivables | 40 | €72,237 | €39,429 | -€32,809 | -45.4% |
| Other amounts receivable | 41 | - | €2,261 | +€2,261 | |
| Cash at bank and in hand | 54/58 | €1,806 | €10,880 | +€9,075 | +503% |
| Deferred charges and accrued income | 490/1 | €308,091 | €235,983 | -€72,108 | -23.4% |
| Total equity and liabilities | 10/49 | €859,506 | €750,248 | -€109,258 | -12.7% |
| Equity | 10/15 | €46,007 | €62,828 | +€16,821 | +36.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €700 | €700 | = | 0.0% |
| Distributable reserves | 133 | €700 | €700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,292 | -€26,471 | +€16,821 | +38.9% |
| Investment grants | 15 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable | 17/49 | €813,499 | €687,420 | -€126,079 | -15.5% |
| Amounts payable after more than one year | 17 | €666,762 | €579,245 | -€87,517 | -13.1% |
| Financial debts | 170/4 | €666,762 | €579,245 | -€87,517 | -13.1% |
| Amounts payable within one year | 42/48 | €146,737 | €108,175 | -€38,562 | -26.3% |
| Current portion of amounts payable after more than one year | 42 | €45,745 | €42,833 | -€2,912 | -6.4% |
| Trade debts | 44 | €61,909 | €55,230 | -€6,679 | -10.8% |
| Suppliers | 440/4 | €61,909 | €55,230 | -€6,679 | -10.8% |
| Taxes, remuneration and social security | 45 | €12,481 | - | -€12,481 | |
| Taxes | 450/3 | €900 | - | -€900 | |
| Remuneration and social security | 454/9 | €11,581 | - | -€11,581 | |
| Other amounts payable | 47/48 | €26,601 | €10,112 | -€16,490 | -62.0% |
| Turnover | 70 | €353,096 | €483,109 | +€130,013 | +36.8% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €408,296 | +€408,296 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,097 | €21,172 | +€4,075 | +23.8% |
| Other operating charges | 640/8 | €6,267 | €3,008 | -€3,259 | -52.0% |
| Gross operating margin | 9900 | €36,538 | €74,813 | +€38,274 | +105% |
| Operating profit (loss) | 9901 | €13,174 | €50,633 | +€37,459 | +284% |
| Financial income | 75/76B | €14,876 | €246 | -€14,630 | -98.3% |
| Recurring financial income | 75 | €0 | €246 | +€246 | +107,035% |
| Non-recurring financial income | 76B | €14,876 | - | -€14,876 | |
| Financial charges | 65/66B | €31,682 | €33,058 | +€1,376 | +4.3% |
| Recurring financial charges | 65 | €31,682 | €32,580 | +€897 | +2.8% |
| Non-recurring financial charges | 66B | - | €479 | +€479 | |
| Profit (loss) for the period before taxes | 9903 | -€3,632 | €17,821 | +€21,453 | |
| Income taxes | 67/77 | €71 | €1,000 | +€929 | +1,302% |
| Profit (loss) for the period | 9904 | -€3,703 | €16,821 | +€20,524 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,703 | €16,821 | +€20,524 |
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 23 October 2026 via checked.be.