TRADE STATION: 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.
TRADE STATION
Largest movements
- Receivables within one year +€111,706
up €111,706 (+72.6%), from €153,903 to €265,609
of which Other amounts receivable: +€90,088
- Deferred charges and accrued income -€15,752
down €15,752 (-75.4%), from €20,883 to €5,131
- Tangible fixed assets +€9,946
up €9,946 (+18.8%), from €52,783 to €62,728
of which Plant, machinery and equipment: +€11,196
- Cash -€7,399
down €7,399 (-8.1%), from €91,726 to €84,327
mainly Trade debts (-€222,240) and Receivables within one year (-€111,706)
- Trade debts -€222,240
down €222,240 (-43.1%), from €515,413 to €293,173
- Other debts +€138,276
up €138,276 (+116%), from €118,742 to €257,018
- Profit (loss) carried forward +€126,254
up €126,254 (+42.8%), from -€294,800 to -€168,546
- Tax, wage and social debts +€54,982
up €54,982 (+104%), from €52,649 to €107,631
of which Taxes: +€38,762
- Gross operating margin +€142,152
up €142,152 (+26.1%), from €543,682 to €685,834
- Depreciation -€24,764
down €24,764 (-69.0%), from €35,870 to €11,105
- Taxes +€18,181
up €18,181 (+87.6%), from €20,746 to €38,927
- Financial charges +€12,445
up €12,445 (+53.9%), from €23,080 to €35,525
- Staff costs +€8,247
up €8,247 (+1.7%), from €473,067 to €481,314
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 | €520,973 | €614,012 | +€93,040 | +17.9% |
| Fixed assets | 21/28 | €155,613 | €164,856 | +€9,244 | +5.9% |
| Intangible fixed assets | 21 | €504 | - | -€504 | |
| Tangible fixed assets | 22/27 | €52,783 | €62,728 | +€9,946 | +18.8% |
| Land and buildings | 22 | €5,215 | €4,425 | -€790 | -15.1% |
| Plant, machinery and equipment | 23 | €45,691 | €56,887 | +€11,196 | +24.5% |
| Furniture and vehicles | 24 | €1,551 | €1,091 | -€460 | -29.7% |
| Other tangible fixed assets | 26 | €326 | €326 | = | 0.0% |
| Financial fixed assets | 28 | €102,326 | €102,128 | -€198 | -0.2% |
| Current assets | 29/58 | €365,360 | €449,156 | +€83,796 | +22.9% |
| Stocks and contracts in progress | 3 | €98,848 | €94,089 | -€4,759 | -4.8% |
| Stocks | 30/36 | €98,848 | €94,089 | -€4,759 | -4.8% |
| Amounts receivable within one year | 40/41 | €153,903 | €265,609 | +€111,706 | +72.6% |
| Trade receivables | 40 | €41,397 | €63,014 | +€21,618 | +52.2% |
| Other amounts receivable | 41 | €112,506 | €202,594 | +€90,088 | +80.1% |
| Cash at bank and in hand | 54/58 | €91,726 | €84,327 | -€7,399 | -8.1% |
| Deferred charges and accrued income | 490/1 | €20,883 | €5,131 | -€15,752 | -75.4% |
| Total equity and liabilities | 10/49 | €520,973 | €614,012 | +€93,040 | +17.9% |
| Equity | 10/15 | -€165,831 | -€43,810 | +€122,022 | +73.6% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €7,437 | €7,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€294,800 | -€168,546 | +€126,254 | +42.8% |
| Investment grants | 15 | €47,164 | €42,931 | -€4,233 | -9.0% |
| Amounts payable | 17/49 | €686,804 | €657,822 | -€28,982 | -4.2% |
| Amounts payable within one year | 42/48 | €686,804 | €657,822 | -€28,982 | -4.2% |
| Trade debts | 44 | €515,413 | €293,173 | -€222,240 | -43.1% |
| Suppliers | 440/4 | €515,413 | €293,173 | -€222,240 | -43.1% |
| Taxes, remuneration and social security | 45 | €52,649 | €107,631 | +€54,982 | +104% |
| Taxes | 450/3 | - | €38,762 | +€38,762 | |
| Remuneration and social security | 454/9 | €52,649 | €68,869 | +€16,220 | +30.8% |
| Other amounts payable | 47/48 | €118,742 | €257,018 | +€138,276 | +116% |
| Non-recurring operating income | 76A | €11,825 | €26,297 | +€14,472 | +122% |
| Remuneration, social security and pensions | 62 | €473,067 | €481,314 | +€8,247 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,870 | €11,105 | -€24,764 | -69.0% |
| Other operating charges | 640/8 | €1,399 | €858 | -€540 | -38.6% |
| Gross operating margin | 9900 | €543,682 | €685,834 | +€142,152 | +26.1% |
| Operating profit (loss) | 9901 | €33,346 | €192,557 | +€159,211 | +477% |
| Financial income | 75/76B | €4,911 | €8,150 | +€3,239 | +66.0% |
| Recurring financial income | 75 | €4,911 | €8,150 | +€3,239 | +66.0% |
| Financial charges | 65/66B | €23,080 | €35,525 | +€12,445 | +53.9% |
| Recurring financial charges | 65 | €23,080 | €35,525 | +€12,445 | +53.9% |
| Profit (loss) for the period before taxes | 9903 | €15,177 | €165,182 | +€150,005 | +988% |
| Income taxes | 67/77 | €20,746 | €38,927 | +€18,181 | +87.6% |
| Profit (loss) for the period | 9904 | -€5,569 | €126,254 | +€131,823 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,569 | €126,254 | +€131,823 |
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 25 October 2026 via checked.be.