WE CONSULT: 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.
WE CONSULT
Largest movements
- Receivables within one year -€249,623
down €249,623 (-74.4%), from €335,359 to €85,736
of which Trade receivables: -€251,009
- Current investments +€103,001
up €103,001 (+339%), from €30,345 to €133,346
- Cash +€88,835
up €88,835 (+70.0%), from €126,892 to €215,727
mainly Receivables within one year (+€249,623) and Net result for the year (+€69,198)
- Tangible fixed assets -€24,078
down €24,078 (-9.1%), from €265,202 to €241,124
of which Other tangible fixed assets: -€12,545
- Other debts -€100,460
down €100,460 (-84.1%), from €119,501 to €19,040
- Reserves +€69,198
up €69,198 (+12.6%), from €549,502 to €618,700
of which Distributable reserves: +€69,198
- Tax, wage and social debts -€49,095
down €49,095 (-87.4%), from €56,190 to €7,095
- Financial income -€15,445
down €15,445 (-100%), from €15,445 to €0
- Other operating charges -€14,184
down €14,184 (-79.6%), from €17,829 to €3,645
- Taxes +€11,793
up €11,793 (+77.1%), from €15,302 to €27,095
- Financial charges -€8,391
down €8,391 (-83.4%), from €10,060 to €1,670
- Gross operating margin +€8,053
up €8,053 (+6.8%), from €117,633 to €125,685
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 | €757,798 | €676,131 | -€81,667 | -10.8% |
| Fixed assets | 21/28 | €265,202 | €241,124 | -€24,078 | -9.1% |
| Tangible fixed assets | 22/27 | €265,202 | €241,124 | -€24,078 | -9.1% |
| Land and buildings | 22 | €223,536 | €212,350 | -€11,185 | -5.0% |
| Plant, machinery and equipment | 23 | €927 | €579 | -€348 | -37.5% |
| Other tangible fixed assets | 26 | €40,739 | €28,195 | -€12,545 | -30.8% |
| Current assets | 29/58 | €492,596 | €435,007 | -€57,590 | -11.7% |
| Amounts receivable within one year | 40/41 | €335,359 | €85,736 | -€249,623 | -74.4% |
| Trade receivables | 40 | €335,359 | €84,350 | -€251,009 | -74.8% |
| Other amounts receivable | 41 | €0 | €1,386 | +€1,386 | |
| Current investments | 50/53 | €30,345 | €133,346 | +€103,001 | +339% |
| Cash at bank and in hand | 54/58 | €126,892 | €215,727 | +€88,835 | +70.0% |
| Deferred charges and accrued income | 490/1 | €0 | €197 | +€197 | |
| Total equity and liabilities | 10/49 | €757,798 | €676,131 | -€81,667 | -10.8% |
| Equity | 10/15 | €568,102 | €637,300 | +€69,198 | +12.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €549,502 | €618,700 | +€69,198 | +12.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €549,502 | €618,700 | +€69,198 | +12.6% |
| Amounts payable | 17/49 | €189,696 | €38,831 | -€150,865 | -79.5% |
| Amounts payable within one year | 42/48 | €183,696 | €38,831 | -€144,865 | -78.9% |
| Trade debts | 44 | €8,005 | €12,695 | +€4,690 | +58.6% |
| Suppliers | 440/4 | €8,005 | €12,695 | +€4,690 | +58.6% |
| Taxes, remuneration and social security | 45 | €56,190 | €7,095 | -€49,095 | -87.4% |
| Taxes | 450/3 | €56,190 | €7,095 | -€49,095 | -87.4% |
| Other amounts payable | 47/48 | €119,501 | €19,040 | -€100,460 | -84.1% |
| Accrued charges and deferred income | 492/3 | €6,000 | €0 | -€6,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,832 | €24,078 | +€246 | +1.0% |
| Other operating charges | 640/8 | €17,829 | €3,645 | -€14,184 | -79.6% |
| Gross operating margin | 9900 | €117,633 | €125,685 | +€8,053 | +6.8% |
| Operating profit (loss) | 9901 | €75,972 | €97,963 | +€21,990 | +28.9% |
| Financial income | 75/76B | €15,445 | €0 | -€15,445 | -100% |
| Recurring financial income | 75 | €15,445 | €0 | -€15,445 | -100% |
| Financial charges | 65/66B | €10,060 | €1,670 | -€8,391 | -83.4% |
| Recurring financial charges | 65 | €10,060 | €1,670 | -€8,391 | -83.4% |
| Profit (loss) for the period before taxes | 9903 | €81,357 | €96,293 | +€14,936 | +18.4% |
| Income taxes | 67/77 | €15,302 | €27,095 | +€11,793 | +77.1% |
| Profit (loss) for the period | 9904 | €66,055 | €69,198 | +€3,143 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €66,055 | €69,198 | +€3,143 | +4.8% |
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 13 October 2026 via checked.be.