UNIT 3: 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.
UNIT 3
Largest movements
- Tangible fixed assets +€10,504
up €10,504 (+10.2%), from €103,278 to €113,782
of which Plant, machinery and equipment: +€16,699
- Receivables within one year +€9,545
up €9,545 (+22.9%), from €41,591 to €51,136
of which Trade receivables: +€9,140
- Cash -€3,579
down €3,579 (-32.6%), from €10,989 to €7,411
mainly Investment in fixed assets (net) (-€21,712) and Receivables within one year (-€9,545)
- Reserves +€31,372
up €31,372 (+304.9%), from €10,291 to €41,663
- Debts after one year -€8,311
down €8,311 (-8.8%), from €94,615 to €86,305
- Other debts -€4,751
down €4,751 (-38.4%), from €12,377 to €7,626
- Trade debts -€4,587
down €4,587 (-20.3%), from €22,571 to €17,984
- Tax, wage and social debts +€2,481
up €2,481 (+16.4%), from €15,110 to €17,591
of which Taxes: +€2,202
- Gross operating margin +€40,757
up €40,757 (+45.1%), from €90,442 to €131,198
- Taxes +€11,721
up €11,721 (+259.3%), from €4,520 to €16,241
- Depreciation +€4,154
up €4,154 (+58.9%), from €7,054 to €11,208
- Staff costs +€3,033
up €3,033 (+4.6%), from €65,365 to €68,398
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 | €165,055 | €181,542 | +€16,487 | +10.0% |
| Fixed assets | 21/28 | €103,278 | €113,782 | +€10,504 | +10.2% |
| Tangible fixed assets | 22/27 | €103,278 | €113,782 | +€10,504 | +10.2% |
| Land and buildings | 22 | €88,583 | €85,166 | -€3,417 | -3.9% |
| Plant, machinery and equipment | 23 | €115 | €16,814 | +€16,699 | +14518.5% |
| Furniture and vehicles | 24 | €14,581 | €11,802 | -€2,779 | -19.1% |
| Current assets | 29/58 | €61,777 | €67,760 | +€5,983 | +9.7% |
| Stocks and contracts in progress | 3 | €5,706 | €5,540 | -€166 | -2.9% |
| Stocks | 30/36 | €5,706 | €5,540 | -€166 | -2.9% |
| Amounts receivable within one year | 40/41 | €41,591 | €51,136 | +€9,545 | +22.9% |
| Trade receivables | 40 | €38,769 | €47,908 | +€9,140 | +23.6% |
| Other amounts receivable | 41 | €2,823 | €3,228 | +€405 | +14.3% |
| Cash at bank and in hand | 54/58 | €10,989 | €7,411 | -€3,579 | -32.6% |
| Deferred charges and accrued income | 490/1 | €3,490 | €3,673 | +€183 | +5.2% |
| Total equity and liabilities | 10/49 | €165,055 | €181,542 | +€16,487 | +10.0% |
| Equity | 10/15 | €11,291 | €42,663 | +€31,372 | +277.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €10,291 | €41,663 | +€31,372 | +304.9% |
| Distributable reserves | 133 | €10,291 | €41,663 | +€31,372 | +304.9% |
| Amounts payable | 17/49 | €153,765 | €138,879 | -€14,886 | -9.7% |
| Amounts payable after more than one year | 17 | €94,615 | €86,305 | -€8,311 | -8.8% |
| Financial debts | 170/4 | €94,615 | €86,305 | -€8,311 | -8.8% |
| Amounts payable within one year | 42/48 | €58,252 | €51,677 | -€6,575 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €8,096 | €8,311 | +€214 | +2.6% |
| Financial debts | 43 | €98 | €166 | +€68 | +69.5% |
| Credit institutions | 430/8 | €98 | €166 | +€68 | +69.5% |
| Trade debts | 44 | €22,571 | €17,984 | -€4,587 | -20.3% |
| Suppliers | 440/4 | €22,571 | €17,984 | -€4,587 | -20.3% |
| Taxes, remuneration and social security | 45 | €15,110 | €17,591 | +€2,481 | +16.4% |
| Taxes | 450/3 | €7,287 | €9,489 | +€2,202 | +30.2% |
| Remuneration and social security | 454/9 | €7,823 | €8,102 | +€279 | +3.6% |
| Other amounts payable | 47/48 | €12,377 | €7,626 | -€4,751 | -38.4% |
| Accrued charges and deferred income | 492/3 | €898 | €897 | -€1 | -0.1% |
| Remuneration, social security and pensions | 62 | €65,365 | €68,398 | +€3,033 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,054 | €11,208 | +€4,154 | +58.9% |
| Other operating charges | 640/8 | €1,769 | €1,717 | -€52 | -2.9% |
| Gross operating margin | 9900 | €90,442 | €131,198 | +€40,757 | +45.1% |
| Operating profit (loss) | 9901 | €16,254 | €49,875 | +€33,622 | +206.9% |
| Financial income | 75/76B | €9 | €562 | +€554 | +6276.6% |
| Recurring financial income | 75 | €9 | €562 | +€554 | +6276.6% |
| Financial charges | 65/66B | €3,079 | €2,825 | -€255 | -8.3% |
| Recurring financial charges | 65 | €3,079 | €2,825 | -€255 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €13,183 | €47,613 | +€34,430 | +261.2% |
| Income taxes | 67/77 | €4,520 | €16,241 | +€11,721 | +259.3% |
| Profit (loss) for the period | 9904 | €8,663 | €31,372 | +€22,709 | +262.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,663 | €31,372 | +€22,709 | +262.1% |
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 11 October 2026 via checked.be.