WHITE CONCEPT: 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.
WHITE CONCEPT
Largest movements
- Receivables within one year -€278,710
down €278,710 (-73.8%), from €377,513 to €98,803
of which Other amounts receivable: -€292,498
- Tangible fixed assets -€4,917
down €4,917 (-12.3%), from €39,936 to €35,018
of which Other tangible fixed assets: -€7,266
- Profit (loss) carried forward -€484,715
down €484,715, from €172,886 to -€311,828
- Trade debts +€135,206
up €135,206 (+268.1%), from €50,424 to €185,631
- Tax, wage and social debts +€66,212
up €66,212 (+33.5%), from €197,623 to €263,835
of which Taxes: +€42,176
- Write-downs +€286,512
new in 2025: €286,512
- Gross operating margin -€105,900
down €105,900 (-44.1%), from €240,356 to €134,456
- Taxes -€89,274
down €89,274 (-70.9%), from €125,920 to €36,646
- Other operating charges +€66,192
up €66,192 (+474.2%), from €13,960 to €80,152
- Staff costs +€56,110
up €56,110 (+51.1%), from €109,761 to €165,871
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 | €441,394 | €158,098 | -€283,296 | -64.2% |
| Fixed assets | 21/28 | €53,276 | €48,358 | -€4,917 | -9.2% |
| Tangible fixed assets | 22/27 | €39,936 | €35,018 | -€4,917 | -12.3% |
| Plant, machinery and equipment | 23 | €401 | €3,145 | +€2,744 | +683.7% |
| Furniture and vehicles | 24 | €470 | €75 | -€396 | -84.1% |
| Other tangible fixed assets | 26 | €39,064 | €31,799 | -€7,266 | -18.6% |
| Financial fixed assets | 28 | €13,340 | €13,340 | = | 0.0% |
| Current assets | 29/58 | €388,118 | €109,739 | -€278,379 | -71.7% |
| Stocks and contracts in progress | 3 | €6,852 | €7,808 | +€956 | +14.0% |
| Stocks | 30/36 | €6,852 | €7,808 | +€956 | +14.0% |
| Amounts receivable within one year | 40/41 | €377,513 | €98,803 | -€278,710 | -73.8% |
| Trade receivables | 40 | - | €13,788 | +€13,788 | |
| Other amounts receivable | 41 | €377,513 | €85,015 | -€292,498 | -77.5% |
| Cash at bank and in hand | 54/58 | €3,753 | €3,058 | -€695 | -18.5% |
| Deferred charges and accrued income | 490/1 | - | €70 | +€70 | |
| Total equity and liabilities | 10/49 | €441,394 | €158,098 | -€283,296 | -64.2% |
| Equity | 10/15 | €193,346 | -€291,368 | -€484,715 | |
| Contributions | 10/11 | €18,600 | €20,460 | +€1,860 | +10.0% |
| Reserves | 13 | €1,860 | - | -€1,860 | |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Profit (loss) carried forward | 14 | €172,886 | -€311,828 | -€484,715 | |
| Amounts payable | 17/49 | €248,048 | €449,466 | +€201,418 | +81.2% |
| Amounts payable within one year | 42/48 | €248,048 | €449,466 | +€201,418 | +81.2% |
| Trade debts | 44 | €50,424 | €185,631 | +€135,206 | +268.1% |
| Suppliers | 440/4 | €50,424 | €185,631 | +€135,206 | +268.1% |
| Taxes, remuneration and social security | 45 | €197,623 | €263,835 | +€66,212 | +33.5% |
| Taxes | 450/3 | €191,231 | €233,407 | +€42,176 | +22.1% |
| Remuneration and social security | 454/9 | €6,393 | €30,429 | +€24,036 | +376.0% |
| Remuneration, social security and pensions | 62 | €109,761 | €165,871 | +€56,110 | +51.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,243 | €8,165 | -€1,077 | -11.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €286,512 | +€286,512 | |
| Other operating charges | 640/8 | €13,960 | €80,152 | +€66,192 | +474.2% |
| Gross operating margin | 9900 | €240,356 | €134,456 | -€105,900 | -44.1% |
| Operating profit (loss) | 9901 | €107,393 | -€406,244 | -€513,636 | |
| Financial charges | 65/66B | €13,778 | €41,825 | +€28,047 | +203.6% |
| Recurring financial charges | 65 | €13,778 | €41,825 | +€28,047 | +203.6% |
| Profit (loss) for the period before taxes | 9903 | €93,615 | -€448,069 | -€541,683 | |
| Income taxes | 67/77 | €125,920 | €36,646 | -€89,274 | -70.9% |
| Profit (loss) for the period | 9904 | -€32,305 | -€484,715 | -€452,409 | -1400.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,305 | -€484,715 | -€452,409 | -1400.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.