WHAT REMAINS: 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.
WHAT REMAINS
Largest movements
- Stocks and contracts -€24,045
down €24,045 (-48.2%), from €49,868 to €25,823
- Receivables within one year +€16,302
up €16,302 (+19.3%), from €84,349 to €100,651
of which Other amounts receivable: +€21,815
- Trade debts -€42,489
down €42,489 (-84.0%), from €50,601 to €8,112
- Other debts +€33,908
up €33,908 (+108.3%), from €31,323 to €65,231
- Short-term financial debts -€18,360
no longer reported in 2025 (was €18,360)
- Reserves +€17,832
new in 2025: €17,832
- Current portion of long-term debt -€17,544
no longer reported in 2025 (was €17,544)
- Staff costs -€34,710
no longer reported in 2025 (was €34,710)
- Gross operating margin -€27,197
down €27,197 (-39.2%), from €69,455 to €42,257
- Write-downs -€21,372
no longer reported in 2025 (was €21,372)
- Taxes +€9,237
up €9,237 (+413.0%), from €2,236 to €11,474
- Financial charges -€3,372
down €3,372 (-45.1%), from €7,471 to €4,099
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.
Cash bridge derived
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 | €157,232 | €149,185 | -€8,047 | -5.1% |
| Fixed assets | 21/28 | €6,043 | €5,400 | -€643 | -10.6% |
| Intangible fixed assets | 21 | €3,967 | €3,505 | -€462 | -11.6% |
| Tangible fixed assets | 22/27 | €2,076 | €1,895 | -€181 | -8.7% |
| Plant, machinery and equipment | 23 | €181 | - | -€181 | |
| Furniture and vehicles | 24 | €1,895 | €1,895 | = | 0.0% |
| Current assets | 29/58 | €151,189 | €143,785 | -€7,404 | -4.9% |
| Stocks and contracts in progress | 3 | €49,868 | €25,823 | -€24,045 | -48.2% |
| Stocks | 30/36 | €49,868 | €25,823 | -€24,045 | -48.2% |
| Amounts receivable within one year | 40/41 | €84,349 | €100,651 | +€16,302 | +19.3% |
| Trade receivables | 40 | €24,413 | €18,900 | -€5,513 | -22.6% |
| Other amounts receivable | 41 | €59,936 | €81,751 | +€21,815 | +36.4% |
| Cash at bank and in hand | 54/58 | €16,628 | €16,956 | +€328 | +2.0% |
| Deferred charges and accrued income | 490/1 | €343 | €355 | +€12 | +3.4% |
| Total equity and liabilities | 10/49 | €157,232 | €149,185 | -€8,047 | -5.1% |
| Equity | 10/15 | €9,045 | €36,432 | +€27,387 | +302.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €17,832 | +€17,832 | |
| Distributable reserves | 133 | - | €17,832 | +€17,832 | |
| Profit (loss) carried forward | 14 | -€9,555 | - | +€9,555 | |
| Amounts payable | 17/49 | €148,187 | €112,753 | -€35,434 | -23.9% |
| Amounts payable after more than one year | 17 | €25,000 | €25,000 | = | 0.0% |
| Financial debts | 170/4 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €122,415 | €87,753 | -€34,662 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €17,544 | - | -€17,544 | |
| Financial debts | 43 | €18,360 | - | -€18,360 | |
| Credit institutions | 430/8 | €18,360 | - | -€18,360 | |
| Trade debts | 44 | €50,601 | €8,112 | -€42,489 | -84.0% |
| Suppliers | 440/4 | €50,601 | €8,112 | -€42,489 | -84.0% |
| Taxes, remuneration and social security | 45 | €4,586 | €14,410 | +€9,824 | +214.2% |
| Taxes | 450/3 | €3,542 | €13,710 | +€10,168 | +287.1% |
| Remuneration and social security | 454/9 | €1,045 | €700 | -€345 | -33.0% |
| Other amounts payable | 47/48 | €31,323 | €65,231 | +€33,908 | +108.3% |
| Accrued charges and deferred income | 492/3 | €773 | - | -€773 | |
| Remuneration, social security and pensions | 62 | €34,710 | - | -€34,710 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €975 | €643 | -€332 | -34.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,372 | - | -€21,372 | |
| Other operating charges | 640/8 | €710 | €2,325 | +€1,614 | +227.3% |
| Gross operating margin | 9900 | €69,455 | €42,257 | -€27,197 | -39.2% |
| Operating profit (loss) | 9901 | €11,688 | €39,289 | +€27,602 | +236.2% |
| Financial income | 75/76B | €3,360 | €3,670 | +€310 | +9.2% |
| Recurring financial income | 75 | €3,360 | €3,670 | +€310 | +9.2% |
| Financial charges | 65/66B | €7,471 | €4,099 | -€3,372 | -45.1% |
| Recurring financial charges | 65 | €7,471 | €4,099 | -€3,372 | -45.1% |
| Profit (loss) for the period before taxes | 9903 | €7,577 | €38,860 | +€31,284 | +412.9% |
| Income taxes | 67/77 | €2,236 | €11,474 | +€9,237 | +413.0% |
| Profit (loss) for the period | 9904 | €5,340 | €27,387 | +€22,046 | +412.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,340 | €27,387 | +€22,046 | +412.8% |
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 10 October 2026 via checked.be.