WE DO: what changed
Two fiscal 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 DO
Largest movements
- Receivables within one year -€339,674
down €339,674 (-50.6%), from €671,560 to €331,886
of which Trade receivables: -€340,702
- Tangible fixed assets -€47,925
down €47,925 (-4.1%), from €1.2m to €1.1m
of which Land and buildings: -€30,439
- Cash -€34,762
no longer reported in 2024 (was €34,762)
mainly Trade debts (-€305,160) and Debts after one year (-€88,941)
- Trade debts -€305,160
down €305,160 (-55.4%), from €551,296 to €246,136
of which Suppliers: -€305,160
- Debts after one year -€88,941
down €88,941 (-11.0%), from €809,123 to €720,182
of which Financial debts: -€86,401
- Profit (loss) carried forward -€84,453
down €84,453 (-20.3%), from €415,247 to €330,794
- Current portion of long-term debt +€48,242
new in 2024: €48,242
- Tax, wage and social debts -€31,584
down €31,584 (-72.6%), from €43,510 to €11,926
of which Taxes: -€25,642
- Gross operating margin -€130,418
down €130,418 (-39.2%), from €332,822 to €202,404
- Staff costs -€43,205
down €43,205 (-18.5%), from €233,338 to €190,133
- Financial charges +€25,143
up €25,143 (+337.9%), from €7,441 to €32,584
- Depreciation +€21,297
up €21,297 (+80.9%), from €26,320 to €47,617
- Taxes -€17,955
down €17,955 (-70.0%), from €25,642 to €7,687
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,875,505 | €1,453,144 | -€422,361 | -22.5% |
| Fixed assets | 21/28 | €1,169,183 | €1,121,258 | -€47,925 | -4.1% |
| Tangible fixed assets | 22/27 | €1,163,175 | €1,115,250 | -€47,925 | -4.1% |
| Land and buildings | 22 | €1,134,560 | €1,104,121 | -€30,439 | -2.7% |
| Plant, machinery and equipment | 23 | €4,477 | €2,902 | -€1,575 | -35.2% |
| Furniture and vehicles | 24 | €24,138 | €8,227 | -€15,911 | -65.9% |
| Financial fixed assets | 28 | €6,008 | €6,008 | = | 0.0% |
| Current assets | 29/58 | €706,322 | €331,886 | -€374,436 | -53.0% |
| Amounts receivable within one year | 40/41 | €671,560 | €331,886 | -€339,674 | -50.6% |
| Trade receivables | 40 | €667,642 | €326,940 | -€340,702 | -51.0% |
| Other amounts receivable | 41 | €3,918 | €4,946 | +€1,028 | +26.2% |
| Cash at bank and in hand | 54/58 | €34,762 | - | -€34,762 | |
| Total equity and liabilities | 10/49 | €1,875,505 | €1,453,144 | -€422,361 | -22.5% |
| Equity | 10/15 | €435,707 | €351,254 | -€84,453 | -19.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €415,247 | €330,794 | -€84,453 | -20.3% |
| Amounts payable | 17/49 | €1,439,798 | €1,101,890 | -€337,908 | -23.5% |
| Amounts payable after more than one year | 17 | €809,123 | €720,182 | -€88,941 | -11.0% |
| Financial debts | 170/4 | €803,423 | €717,022 | -€86,401 | -10.8% |
| Other amounts payable | 178/9 | €5,700 | €3,160 | -€2,540 | -44.6% |
| Amounts payable within one year | 42/48 | €630,675 | €381,708 | -€248,967 | -39.5% |
| Current portion of amounts payable after more than one year | 42 | - | €48,242 | +€48,242 | |
| Financial debts | 43 | - | €8,870 | +€8,870 | |
| Credit institutions | 430/8 | - | €8,870 | +€8,870 | |
| Trade debts | 44 | €551,296 | €246,136 | -€305,160 | -55.4% |
| Suppliers | 440/4 | €547,296 | €242,136 | -€305,160 | -55.8% |
| Bills of exchange payable | 441 | €4,000 | €4,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €43,510 | €11,926 | -€31,584 | -72.6% |
| Taxes | 450/3 | €25,642 | - | -€25,642 | |
| Remuneration and social security | 454/9 | €17,868 | €11,926 | -€5,942 | -33.3% |
| Other amounts payable | 47/48 | €35,869 | €66,534 | +€30,665 | +85.5% |
| Non-recurring operating income | 76A | - | €40,256 | +€40,256 | |
| Remuneration, social security and pensions | 62 | €233,338 | €190,133 | -€43,205 | -18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,320 | €47,617 | +€21,297 | +80.9% |
| Other operating charges | 640/8 | €11,309 | €9,034 | -€2,275 | -20.1% |
| Gross operating margin | 9900 | €332,822 | €202,404 | -€130,418 | -39.2% |
| Operating profit (loss) | 9901 | €61,855 | -€44,380 | -€106,235 | |
| Financial income | 75/76B | €589 | €198 | -€391 | -66.4% |
| Recurring financial income | 75 | €589 | €198 | -€391 | -66.4% |
| Financial charges | 65/66B | €7,441 | €32,584 | +€25,143 | +337.9% |
| Recurring financial charges | 65 | €7,441 | €32,584 | +€25,143 | +337.9% |
| Profit (loss) for the period before taxes | 9903 | €55,003 | -€76,766 | -€131,769 | |
| Income taxes | 67/77 | €25,642 | €7,687 | -€17,955 | -70.0% |
| Profit (loss) for the period | 9904 | €29,361 | -€84,453 | -€113,814 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,361 | -€84,453 | -€113,814 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.