WARNING GRAPHICS: 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.
WARNING GRAPHICS
Largest movements
- Cash +€66,246
up €66,246 (+326%), from €20,313 to €86,559
mainly Depreciation (+€54,607) and Trade debts (+€29,076)
- Intangible fixed assets -€29,652
down €29,652 (-34.3%), from €86,393 to €56,741
- Receivables within one year +€13,279
up €13,279 (+3.3%), from €403,977 to €417,256
of which Other amounts receivable: +€88,708
- Trade debts +€29,076
up €29,076 (+7.3%), from €399,147 to €428,223
- Reserves +€25,000
up €25,000 (+11.6%), from €215,444 to €240,444
of which Distributable reserves: +€25,000
- Debts after one year -€22,014
down €22,014 (-33.1%), from €66,549 to €44,535
- Accrued charges and deferred income -€11,674
down €11,674 (-11.1%), from €104,969 to €93,295
- Write-downs +€55,224
new in 2025: €55,224
- Gross operating margin +€49,766
up €49,766 (+14.6%), from €341,811 to €391,577
- Other operating charges -€16,081
down €16,081 (-94.8%), from €16,971 to €890
- Depreciation +€4,409
up €4,409 (+8.8%), from €50,198 to €54,607
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 | €1,105,979 | €1,134,234 | +€28,255 | +2.6% |
| Fixed assets | 21/28 | €133,343 | €93,560 | -€39,783 | -29.8% |
| Intangible fixed assets | 21 | €86,393 | €56,741 | -€29,652 | -34.3% |
| Tangible fixed assets | 22/27 | €46,835 | €36,704 | -€10,131 | -21.6% |
| Land and buildings | 22 | €1,889 | €1,599 | -€290 | -15.4% |
| Furniture and vehicles | 24 | €44,946 | €35,105 | -€9,841 | -21.9% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €972,636 | €1,040,674 | +€68,038 | +7.0% |
| Amounts receivable after more than one year | 29 | €536,988 | €534,388 | -€2,600 | -0.5% |
| Other amounts receivable | 291 | €536,988 | €534,388 | -€2,600 | -0.5% |
| Amounts receivable within one year | 40/41 | €403,977 | €417,256 | +€13,279 | +3.3% |
| Trade receivables | 40 | €279,455 | €204,026 | -€75,429 | -27.0% |
| Other amounts receivable | 41 | €124,522 | €213,230 | +€88,708 | +71.2% |
| Cash at bank and in hand | 54/58 | €20,313 | €86,559 | +€66,246 | +326% |
| Deferred charges and accrued income | 490/1 | €11,358 | €2,471 | -€8,887 | -78.2% |
| Total equity and liabilities | 10/49 | €1,105,979 | €1,134,234 | +€28,255 | +2.6% |
| Equity | 10/15 | €426,706 | €451,889 | +€25,183 | +5.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €215,444 | €240,444 | +€25,000 | +11.6% |
| Tax-exempt reserves | 132 | €36,435 | €36,435 | = | 0.0% |
| Distributable reserves | 133 | €179,009 | €204,009 | +€25,000 | +14.0% |
| Profit (loss) carried forward | 14 | €205,065 | €205,248 | +€183 | +0.1% |
| Amounts payable | 17/49 | €679,273 | €682,345 | +€3,072 | +0.5% |
| Amounts payable after more than one year | 17 | €66,549 | €44,535 | -€22,014 | -33.1% |
| Financial debts | 170/4 | €66,549 | €44,535 | -€22,014 | -33.1% |
| Amounts payable within one year | 42/48 | €507,755 | €544,515 | +€36,760 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €37,088 | €41,757 | +€4,669 | +12.6% |
| Trade debts | 44 | €399,147 | €428,223 | +€29,076 | +7.3% |
| Suppliers | 440/4 | €399,147 | €428,223 | +€29,076 | +7.3% |
| Taxes, remuneration and social security | 45 | €71,520 | €74,535 | +€3,015 | +4.2% |
| Taxes | 450/3 | €38,763 | €32,434 | -€6,329 | -16.3% |
| Remuneration and social security | 454/9 | €32,757 | €42,101 | +€9,344 | +28.5% |
| Accrued charges and deferred income | 492/3 | €104,969 | €93,295 | -€11,674 | -11.1% |
| Non-recurring operating income | 76A | €10,538 | €307 | -€10,231 | -97.1% |
| Remuneration, social security and pensions | 62 | €226,707 | €230,501 | +€3,794 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,198 | €54,607 | +€4,409 | +8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €55,224 | +€55,224 | |
| Other operating charges | 640/8 | €16,971 | €890 | -€16,081 | -94.8% |
| Gross operating margin | 9900 | €341,811 | €391,577 | +€49,766 | +14.6% |
| Operating profit (loss) | 9901 | €47,935 | €50,355 | +€2,420 | +5.0% |
| Financial income | 75/76B | €12 | €66 | +€54 | +450% |
| Recurring financial income | 75 | €12 | €66 | +€54 | +450% |
| Financial charges | 65/66B | €8,669 | €8,028 | -€641 | -7.4% |
| Recurring financial charges | 65 | €8,669 | €8,028 | -€641 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €39,278 | €42,393 | +€3,115 | +7.9% |
| Income taxes | 67/77 | €15,488 | €17,210 | +€1,722 | +11.1% |
| Profit (loss) for the period | 9904 | €23,790 | €25,183 | +€1,393 | +5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,790 | €25,183 | +€1,393 | +5.9% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.