TRADING CENTER: 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.
TRADING CENTER
Largest movements
- Cash -€185,887
down €185,887 (-10.6%), from €1.8m to €1.6m
mainly Net result for the year (-€137,175) and Other debts (-€132,852)
- Tangible fixed assets -€52,202
down €52,202 (-3.3%), from €1.6m to €1.6m
of which Land and buildings: -€51,583
- Receivables within one year -€45,426
down €45,426 (-12.4%), from €366,554 to €321,128
of which Trade receivables: -€47,619
- Other debts -€132,852
down €132,852 (-12.1%), from €1.1m to €962,077
- Profit (loss) carried forward -€100,774
down €100,774 (-39.7%), from -€253,701 to -€354,475
- Gross operating margin +€16,177
up €16,177 (+221%), from €7,325 to €23,502
- Other operating charges +€8,828
up €8,828 (+551%), from €1,602 to €10,430
- Write-downs +€4,034
new in 2025: €4,034
- Depreciation -€3,864
down €3,864 (-6.9%), from €56,066 to €52,202
- Taxes +€2,266
new in 2025: €2,266
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 | €3,726,494 | €3,443,409 | -€283,085 | -7.6% |
| Fixed assets | 21/28 | €1,605,555 | €1,553,353 | -€52,202 | -3.3% |
| Tangible fixed assets | 22/27 | €1,605,555 | €1,553,353 | -€52,202 | -3.3% |
| Land and buildings | 22 | €1,604,609 | €1,553,025 | -€51,583 | -3.2% |
| Plant, machinery and equipment | 23 | €593 | €322 | -€271 | -45.7% |
| Furniture and vehicles | 24 | €353 | €6 | -€348 | -98.4% |
| Current assets | 29/58 | €2,120,939 | €1,890,057 | -€230,883 | -10.9% |
| Stocks and contracts in progress | 3 | €1,137 | €1,137 | = | 0.0% |
| Stocks | 30/36 | €1,137 | €1,137 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €366,554 | €321,128 | -€45,426 | -12.4% |
| Trade receivables | 40 | €242,355 | €194,736 | -€47,619 | -19.6% |
| Other amounts receivable | 41 | €124,200 | €126,392 | +€2,192 | +1.8% |
| Cash at bank and in hand | 54/58 | €1,752,205 | €1,566,318 | -€185,887 | -10.6% |
| Deferred charges and accrued income | 490/1 | €1,042 | €1,473 | +€431 | +41.4% |
| Total equity and liabilities | 10/49 | €3,726,494 | €3,443,409 | -€283,085 | -7.6% |
| Equity | 10/15 | €1,742,627 | €1,605,452 | -€137,175 | -7.9% |
| Contributions | 10/11 | €371,840 | €371,840 | = | 0.0% |
| Capital | 10 | €371,840 | €371,840 | = | 0.0% |
| Issued capital | 100 | €371,840 | €371,840 | = | 0.0% |
| Reserves | 13 | €1,624,488 | €1,588,087 | -€36,402 | -2.2% |
| Non-distributable reserves | 130/1 | €37,184 | €37,184 | = | 0.0% |
| Legal reserve | 130 | €37,184 | €37,184 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,587,304 | €1,550,903 | -€36,402 | -2.3% |
| Profit (loss) carried forward | 14 | -€253,701 | -€354,475 | -€100,774 | -39.7% |
| Provisions and deferred taxes | 16 | €883,327 | €871,193 | -€12,134 | -1.4% |
| Provisions for liabilities and charges | 160/5 | €354,226 | €354,226 | = | 0.0% |
| Pensions and similar obligations | 160 | €354,226 | €354,226 | = | 0.0% |
| Deferred taxes | 168 | €529,101 | €516,968 | -€12,134 | -2.3% |
| Amounts payable | 17/49 | €1,100,539 | €966,764 | -€133,776 | -12.2% |
| Amounts payable within one year | 42/48 | €1,099,249 | €966,764 | -€132,486 | -12.1% |
| Trade debts | 44 | €4,320 | €4,687 | +€367 | +8.5% |
| Suppliers | 440/4 | €4,320 | €4,687 | +€367 | +8.5% |
| Other amounts payable | 47/48 | €1,094,929 | €962,077 | -€132,852 | -12.1% |
| Accrued charges and deferred income | 492/3 | €1,290 | €0 | -€1,290 | -100% |
| Remuneration, social security and pensions | 62 | - | €1,273 | +€1,273 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,066 | €52,202 | -€3,864 | -6.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,034 | +€4,034 | |
| Other operating charges | 640/8 | €1,602 | €10,430 | +€8,828 | +551% |
| Non-recurring operating charges | 66A | - | €109,432 | +€109,432 | |
| Gross operating margin | 9900 | €7,325 | €23,502 | +€16,177 | +221% |
| Operating profit (loss) | 9901 | -€50,343 | -€153,869 | -€103,526 | -206% |
| Financial income | 75/76B | €7,559 | €6,992 | -€567 | -7.5% |
| Recurring financial income | 75 | €7,559 | €6,992 | -€567 | -7.5% |
| Financial charges | 65/66B | €80 | €165 | +€86 | +108% |
| Recurring financial charges | 65 | €80 | €165 | +€86 | +108% |
| Profit (loss) for the period before taxes | 9903 | -€42,864 | -€147,043 | -€104,179 | -243% |
| Transfer from deferred taxes | 780 | €12,043 | €12,134 | +€91 | +0.8% |
| Income taxes | 67/77 | - | €2,266 | +€2,266 | |
| Profit (loss) for the period | 9904 | -€30,821 | -€137,175 | -€106,355 | -345% |
| Transfer from tax-exempt reserves | 789 | €36,130 | €36,402 | +€272 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,309 | -€100,774 | -€106,083 |
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 27 October 2026 via checked.be.