Transition: 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.
Transition
Largest movements
- Tangible fixed assets -€28,407
down €28,407 (-5.8%), from €488,994 to €460,587
- Receivables within one year +€15,471
up €15,471 (+31.3%), from €49,477 to €64,948
- Investment grants -€16,497
down €16,497 (-4.4%), from €371,631 to €355,134
- Profit (loss) carried forward +€12,551
up €12,551 (+28.8%), from €43,542 to €56,094
- Debts after one year -€9,808
down €9,808 (-16.6%), from €59,034 to €49,227
- Debts within one year -€7,624
down €7,624 (-3.2%), from €235,058 to €227,434
of which Tax, wage and social debts: -€20,676
- Staff costs +€102,929
up €102,929 (+17.2%), from €599,070 to €701,998
- Gross operating margin +€84,889
up €84,889 (+13.2%), from €642,866 to €727,755
- Turnover +€57,344
up €57,344 (+34.1%), from €168,314 to €225,657
- Financial income +€16,698
up €16,698 (+8380.9%), from €199 to €16,897
- Other operating charges -€8,084
down €8,084 (-96.8%), from €8,348 to €265
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 | €737,081 | €713,440 | -€23,641 | -3.2% |
| Fixed assets | 21/28 | €489,533 | €461,126 | -€28,407 | -5.8% |
| Tangible fixed assets | 22/27 | €488,994 | €460,587 | -€28,407 | -5.8% |
| Land and buildings | 22 | €488,994 | €460,587 | -€28,407 | -5.8% |
| Financial fixed assets | 28 | €539 | €539 | = | 0.0% |
| Current assets | 29/58 | €247,548 | €252,314 | +€4,766 | +1.9% |
| Amounts receivable within one year | 40/41 | €49,477 | €64,948 | +€15,471 | +31.3% |
| Trade receivables | 40 | €49,477 | €64,948 | +€15,471 | +31.3% |
| Cash at bank and in hand | 54/58 | €183,746 | €176,943 | -€6,803 | -3.7% |
| Deferred charges and accrued income | 490/1 | €14,325 | €10,423 | -€3,902 | -27.2% |
| Total equity and liabilities | 10/49 | €737,081 | €713,440 | -€23,641 | -3.2% |
| Equity | 10/15 | €415,887 | €411,941 | -€3,946 | -0.9% |
| Contributions | 10/11 | €714 | €714 | = | 0.0% |
| Capital | 10 | €714 | €714 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,542 | €56,094 | +€12,551 | +28.8% |
| Investment grants | 15 | €371,631 | €355,134 | -€16,497 | -4.4% |
| Provisions and deferred taxes | 16 | €19,059 | €19,059 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €19,059 | €19,059 | = | 0.0% |
| Other liabilities and charges | 164/5 | €19,059 | €19,059 | = | 0.0% |
| Amounts payable | 17/49 | €302,134 | €282,439 | -€19,695 | -6.5% |
| Amounts payable after more than one year | 17 | €59,034 | €49,227 | -€9,808 | -16.6% |
| Financial debts | 170/4 | €59,034 | €49,227 | -€9,808 | -16.6% |
| Amounts payable within one year | 42/48 | €235,058 | €227,434 | -€7,624 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €19,459 | €12,060 | -€7,399 | -38.0% |
| Trade debts | 44 | €51,242 | €53,238 | +€1,996 | +3.9% |
| Suppliers | 440/4 | €51,242 | €53,238 | +€1,996 | +3.9% |
| Taxes, remuneration and social security | 45 | €65,007 | €44,331 | -€20,676 | -31.8% |
| Taxes | 450/3 | €2,834 | €0 | -€2,834 | -100.0% |
| Remuneration and social security | 454/9 | €62,173 | €44,331 | -€17,842 | -28.7% |
| Accrued charges and deferred income | 492/3 | €8,042 | €5,778 | -€2,263 | -28.1% |
| Turnover | 70 | €168,314 | €225,657 | +€57,344 | +34.1% |
| Remuneration, social security and pensions | 62 | €599,070 | €701,998 | +€102,929 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,587 | €28,407 | +€820 | +3.0% |
| Other operating charges | 640/8 | €8,348 | €265 | -€8,084 | -96.8% |
| Non-recurring operating charges | 66A | €1,200 | - | -€1,200 | |
| Gross operating margin | 9900 | €642,866 | €727,755 | +€84,889 | +13.2% |
| Operating profit (loss) | 9901 | €6,661 | -€2,914 | -€9,575 | |
| Financial income | 75/76B | €199 | €16,897 | +€16,698 | +8380.9% |
| Recurring financial income | 75 | €199 | €16,897 | +€16,698 | +8380.9% |
| Financial charges | 65/66B | €1,915 | €1,432 | -€483 | -25.2% |
| Recurring financial charges | 65 | €1,915 | €1,432 | -€483 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €4,945 | €12,551 | +€7,606 | +153.8% |
| Profit (loss) for the period | 9904 | €4,945 | €12,551 | +€7,606 | +153.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,945 | €12,551 | +€7,606 | +153.8% |
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 3 October 2026 via checked.be.