WIRELINE: 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.
WIRELINE
Largest movements
- Tangible fixed assets +€96,339
up €96,339 (+91.8%), from €104,938 to €201,278
of which Other tangible fixed assets: +€76,578
- Receivables within one year -€24,962
down €24,962 (-3.5%), from €713,502 to €688,540
of which Trade receivables: -€135,692
- Deferred charges and accrued income +€16,710
up €16,710 (+32.6%), from €51,288 to €67,998
- Debts after one year +€85,000
up €85,000 (+42.8%), from €198,750 to €283,750
- Trade debts +€77,422
up €77,422 (+79.8%), from €97,016 to €174,438
- Short-term financial debts -€55,000
no longer reported in 2025 (was €55,000)
- Current portion of long-term debt -€50,000
no longer reported in 2025 (was €50,000)
- Other debts +€20,680
up €20,680 (+24.9%), from €83,203 to €103,883
- Staff costs -€120,587
down €120,587 (-20.1%), from €599,539 to €478,951
- Gross operating margin -€87,227
down €87,227 (-11.7%), from €748,150 to €660,924
- Depreciation +€9,198
up €9,198 (+18.1%), from €50,704 to €59,902
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 | €1,125,754 | €1,202,519 | +€76,765 | +6.8% |
| Fixed assets | 21/28 | €113,013 | €201,278 | +€88,264 | +78.1% |
| Tangible fixed assets | 22/27 | €104,938 | €201,278 | +€96,339 | +91.8% |
| Plant, machinery and equipment | 23 | €60,527 | €66,210 | +€5,683 | +9.4% |
| Furniture and vehicles | 24 | €40,453 | €54,532 | +€14,079 | +34.8% |
| Other tangible fixed assets | 26 | €3,958 | €80,536 | +€76,578 | +1934.8% |
| Financial fixed assets | 28 | €8,075 | - | -€8,075 | |
| Current assets | 29/58 | €1,012,741 | €1,001,241 | -€11,500 | -1.1% |
| Stocks and contracts in progress | 3 | €217,621 | €223,096 | +€5,475 | +2.5% |
| Stocks | 30/36 | €188,261 | €194,961 | +€6,699 | +3.6% |
| Contracts in progress | 37 | €29,359 | €28,135 | -€1,224 | -4.2% |
| Amounts receivable within one year | 40/41 | €713,502 | €688,540 | -€24,962 | -3.5% |
| Trade receivables | 40 | €360,567 | €224,876 | -€135,692 | -37.6% |
| Other amounts receivable | 41 | €352,934 | €463,664 | +€110,730 | +31.4% |
| Cash at bank and in hand | 54/58 | €30,331 | €21,608 | -€8,722 | -28.8% |
| Deferred charges and accrued income | 490/1 | €51,288 | €67,998 | +€16,710 | +32.6% |
| Total equity and liabilities | 10/49 | €1,125,754 | €1,202,519 | +€76,765 | +6.8% |
| Equity | 10/15 | €573,975 | €575,525 | +€1,550 | +0.3% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €538,975 | €540,525 | +€1,550 | +0.3% |
| Distributable reserves | 133 | €538,975 | €540,525 | +€1,550 | +0.3% |
| Amounts payable | 17/49 | €551,779 | €626,994 | +€75,214 | +13.6% |
| Amounts payable after more than one year | 17 | €198,750 | €283,750 | +€85,000 | +42.8% |
| Financial debts | 170/4 | €198,750 | €283,750 | +€85,000 | +42.8% |
| Amounts payable within one year | 42/48 | €349,029 | €337,764 | -€11,265 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | - | -€50,000 | |
| Financial debts | 43 | €55,000 | - | -€55,000 | |
| Credit institutions | 430/8 | €55,000 | - | -€55,000 | |
| Trade debts | 44 | €97,016 | €174,438 | +€77,422 | +79.8% |
| Suppliers | 440/4 | €97,016 | €174,438 | +€77,422 | +79.8% |
| Taxes, remuneration and social security | 45 | €63,810 | €59,443 | -€4,367 | -6.8% |
| Taxes | 450/3 | €17,670 | €5,387 | -€12,283 | -69.5% |
| Remuneration and social security | 454/9 | €46,139 | €54,056 | +€7,917 | +17.2% |
| Other amounts payable | 47/48 | €83,203 | €103,883 | +€20,680 | +24.9% |
| Accrued charges and deferred income | 492/3 | €4,000 | €5,479 | +€1,479 | +37.0% |
| Non-recurring operating income | 76A | €11,326 | €9,841 | -€1,485 | -13.1% |
| Remuneration, social security and pensions | 62 | €599,539 | €478,951 | -€120,587 | -20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,704 | €59,902 | +€9,198 | +18.1% |
| Other operating charges | 640/8 | €8,056 | €7,878 | -€177 | -2.2% |
| Gross operating margin | 9900 | €748,150 | €660,924 | -€87,227 | -11.7% |
| Operating profit (loss) | 9901 | €89,852 | €114,192 | +€24,340 | +27.1% |
| Financial income | 75/76B | €0 | €1 | +€0 | +181.0% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +181.0% |
| Financial charges | 65/66B | €9,560 | €13,213 | +€3,653 | +38.2% |
| Recurring financial charges | 65 | €9,560 | €13,213 | +€3,653 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | €80,292 | €100,980 | +€20,688 | +25.8% |
| Income taxes | 67/77 | €989 | €1,429 | +€441 | +44.6% |
| Profit (loss) for the period | 9904 | €79,303 | €99,550 | +€20,247 | +25.5% |
| Profit (loss) for the period to be appropriated | 9905 | €79,303 | €99,550 | +€20,247 | +25.5% |
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 6 October 2026 via checked.be.