VIEW & VISION: 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.
VIEW & VISION
Largest movements
- Receivables within one year +€41,226
up €41,226 (+95.0%), from €43,378 to €84,604
of which Trade receivables: +€25,729
- Cash +€24,341
up €24,341 (+39.7%), from €61,375 to €85,716
mainly Accrued charges and deferred income (+€39,750) and Trade debts (+€27,851)
- Accrued charges and deferred income +€39,750
up €39,750 (+35.3%), from €112,589 to €152,339
- Trade debts +€27,851
up €27,851 (+219%), from €12,719 to €40,570
- Debts after one year -€14,685
down €14,685 (-21.7%), from €67,658 to €52,973
- Profit (loss) carried forward +€11,377
up €11,377 (+14.9%), from €76,486 to €87,864
- Gross operating margin -€35,633
down €35,633 (-46.0%), from €77,381 to €41,748
- Taxes -€13,107
down €13,107, from €8,644 to -€4,463
- Financial charges -€4,016
down €4,016 (-71.0%), from €5,658 to €1,642
of which Financial charges: -€3,690
- Depreciation -€3,242
down €3,242 (-10.9%), from €29,655 to €26,413
- Other operating charges -€2,537
down €2,537 (-39.6%), from €6,410 to €3,874
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 | €359,833 | €424,558 | +€64,725 | +18.0% |
| Fixed assets | 21/28 | €255,080 | €254,239 | -€841 | -0.3% |
| Tangible fixed assets | 22/27 | €161,617 | €160,776 | -€841 | -0.5% |
| Land and buildings | 22 | €145,600 | €142,118 | -€3,482 | -2.4% |
| Furniture and vehicles | 24 | €16,017 | €18,658 | +€2,641 | +16.5% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €93,463 | €93,463 | = | 0.0% |
| Current assets | 29/58 | €104,753 | €170,320 | +€65,566 | +62.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €43,378 | €84,604 | +€41,226 | +95.0% |
| Trade receivables | 40 | €40,740 | €66,469 | +€25,729 | +63.2% |
| Other amounts receivable | 41 | €2,638 | €18,135 | +€15,497 | +587% |
| Cash at bank and in hand | 54/58 | €61,375 | €85,716 | +€24,341 | +39.7% |
| Total equity and liabilities | 10/49 | €359,833 | €424,558 | +€64,725 | +18.0% |
| Equity | 10/15 | €106,351 | €117,728 | +€11,377 | +10.7% |
| Contributions | 10/11 | €18,550 | €20,405 | +€1,855 | +10.0% |
| Reserves | 13 | €11,314 | €9,459 | -€1,855 | -16.4% |
| Non-distributable reserves | 130/1 | €1,855 | €0 | -€1,855 | -100% |
| Other | 1319 | €1,855 | €0 | -€1,855 | -100% |
| Distributable reserves | 133 | €9,459 | €9,459 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,486 | €87,864 | +€11,377 | +14.9% |
| Amounts payable | 17/49 | €253,483 | €306,831 | +€53,348 | +21.0% |
| Amounts payable after more than one year | 17 | €67,658 | €52,973 | -€14,685 | -21.7% |
| Financial debts | 170/4 | €67,658 | €52,973 | -€14,685 | -21.7% |
| Amounts payable within one year | 42/48 | €73,236 | €101,519 | +€28,283 | +38.6% |
| Current portion of amounts payable after more than one year | 42 | €14,489 | €14,685 | +€195 | +1.3% |
| Trade debts | 44 | €12,719 | €40,570 | +€27,851 | +219% |
| Suppliers | 440/4 | €12,719 | €40,570 | +€27,851 | +219% |
| Advances received on contracts in progress | 46 | - | €369 | +€369 | |
| Taxes, remuneration and social security | 45 | €8,670 | €6,660 | -€2,010 | -23.2% |
| Taxes | 450/3 | €8,670 | €6,660 | -€2,010 | -23.2% |
| Other amounts payable | 47/48 | €37,358 | €39,235 | +€1,876 | +5.0% |
| Accrued charges and deferred income | 492/3 | €112,589 | €152,339 | +€39,750 | +35.3% |
| Non-recurring operating income | 76A | - | €4,156 | +€4,156 | |
| Remuneration, social security and pensions | 62 | - | €1,217 | +€1,217 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,655 | €26,413 | -€3,242 | -10.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €0 | = | |
| Other operating charges | 640/8 | €6,410 | €3,874 | -€2,537 | -39.6% |
| Non-recurring operating charges | 66A | €3,095 | €0 | -€3,095 | -100% |
| Gross operating margin | 9900 | €77,381 | €41,748 | -€35,633 | -46.0% |
| Operating profit (loss) | 9901 | €38,220 | €10,245 | -€27,975 | -73.2% |
| Financial income | 75/76B | €1,012 | €1,651 | +€640 | +63.2% |
| Recurring financial income | 75 | €1,012 | €1,651 | +€640 | +63.2% |
| Financial charges | 65/66B | €5,658 | €1,642 | -€4,016 | -71.0% |
| Recurring financial charges | 65 | €5,332 | €1,642 | -€3,690 | -69.2% |
| Non-recurring financial charges | 66B | €325 | - | -€325 | |
| Profit (loss) for the period before taxes | 9903 | €33,574 | €10,254 | -€23,320 | -69.5% |
| Income taxes | 67/77 | €8,644 | -€4,463 | -€13,107 | |
| Profit (loss) for the period | 9904 | €24,931 | €14,717 | -€10,214 | -41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,931 | €14,717 | -€10,214 | -41.0% |
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 14 October 2026 via checked.be.