VOLUME +: 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.
VOLUME +
Largest movements
- Receivables within one year +€31,976
up €31,976 (+50.1%), from €63,793 to €95,769
of which Trade receivables: +€26,020
- Stocks and contracts -€16,617
down €16,617 (-95.2%), from €17,451 to €835
of which Stocks: -€16,617
- Tangible fixed assets -€11,245
down €11,245 (-7.8%), from €145,070 to €133,826
of which Land and buildings: -€8,306
- Accrued charges and deferred income +€29,733
new in 2025: €29,733
- Debts after one year -€11,203
down €11,203 (-9.8%), from €114,640 to €103,437
- Short-term financial debts -€8,027
down €8,027 (-18.9%), from €42,471 to €34,444
- Trade debts +€6,990
up €6,990 (+51.5%), from €13,580 to €20,571
- Tax, wage and social debts -€5,759
down €5,759 (-100%), from €5,759 to €0
of which Taxes: -€5,759
- Gross operating margin -€22,912
down €22,912 (-61.6%), from €37,183 to €14,272
- Taxes -€5,759
no longer reported in 2025 (was €5,759)
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 | €325,079 | €330,743 | +€5,664 | +1.7% |
| Fixed assets | 21/28 | €145,070 | €133,826 | -€11,245 | -7.8% |
| Tangible fixed assets | 22/27 | €145,070 | €133,826 | -€11,245 | -7.8% |
| Land and buildings | 22 | €130,800 | €122,495 | -€8,306 | -6.3% |
| Plant, machinery and equipment | 23 | €1,695 | €976 | -€719 | -42.4% |
| Furniture and vehicles | 24 | €12,576 | €10,355 | -€2,221 | -17.7% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Current assets | 29/58 | €180,009 | €196,918 | +€16,909 | +9.4% |
| Amounts receivable after more than one year | 29 | €90,000 | €90,000 | = | 0.0% |
| Trade receivables | 290 | €90,000 | €90,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €17,451 | €835 | -€16,617 | -95.2% |
| Stocks | 30/36 | €17,451 | €835 | -€16,617 | -95.2% |
| Contracts in progress | 37 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €63,793 | €95,769 | +€31,976 | +50.1% |
| Trade receivables | 40 | €6,621 | €32,641 | +€26,020 | +393% |
| Other amounts receivable | 41 | €57,172 | €63,128 | +€5,955 | +10.4% |
| Cash at bank and in hand | 54/58 | €7,003 | €8,332 | +€1,330 | +19.0% |
| Deferred charges and accrued income | 490/1 | €1,761 | €1,982 | +€221 | +12.5% |
| Total equity and liabilities | 10/49 | €325,079 | €330,743 | +€5,664 | +1.7% |
| Equity | 10/15 | €128,038 | €124,125 | -€3,913 | -3.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €109,446 | €105,533 | -€3,913 | -3.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,995 | €29,995 | = | 0.0% |
| Distributable reserves | 133 | €77,592 | €73,679 | -€3,913 | -5.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €197,041 | €206,618 | +€9,577 | +4.9% |
| Amounts payable after more than one year | 17 | €114,640 | €103,437 | -€11,203 | -9.8% |
| Financial debts | 170/4 | €114,640 | €103,437 | -€11,203 | -9.8% |
| Amounts payable within one year | 42/48 | €82,401 | €73,448 | -€8,953 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €20,591 | €18,434 | -€2,157 | -10.5% |
| Financial debts | 43 | €42,471 | €34,444 | -€8,027 | -18.9% |
| Credit institutions | 430/8 | €42,471 | €34,444 | -€8,027 | -18.9% |
| Trade debts | 44 | €13,580 | €20,571 | +€6,990 | +51.5% |
| Suppliers | 440/4 | €13,580 | €20,571 | +€6,990 | +51.5% |
| Taxes, remuneration and social security | 45 | €5,759 | €0 | -€5,759 | -100% |
| Taxes | 450/3 | €5,759 | €0 | -€5,759 | -100% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | - | €0 | = | |
| Accrued charges and deferred income | 492/3 | - | €29,733 | +€29,733 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,896 | €11,245 | +€348 | +3.2% |
| Other operating charges | 640/8 | €1,944 | €1,941 | -€4 | -0.2% |
| Gross operating margin | 9900 | €37,183 | €14,272 | -€22,912 | -61.6% |
| Operating profit (loss) | 9901 | €24,342 | €1,086 | -€23,256 | -95.5% |
| Financial income | 75/76B | €3,150 | €3,156 | +€6 | +0.2% |
| Recurring financial income | 75 | €3,150 | €3,156 | +€6 | +0.2% |
| Financial charges | 65/66B | €8,352 | €8,155 | -€197 | -2.4% |
| Recurring financial charges | 65 | €8,352 | €8,155 | -€197 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €19,141 | -€3,913 | -€23,053 | |
| Income taxes | 67/77 | €5,759 | - | -€5,759 | |
| Profit (loss) for the period | 9904 | €13,381 | -€3,913 | -€17,294 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,381 | -€3,913 | -€17,294 |
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 16 October 2026 via checked.be.