WORDWATCH: 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.
WORDWATCH
Largest movements
- Cash -€122,780
down €122,780 (-45.2%), from €271,913 to €149,133
mainly Other debts (-€121,600) and Debts after one year (-€17,364)
- Other debts -€121,600
down €121,600 (-72.4%), from €168,003 to €46,403
- Reserves +€25,824
up €25,824 (+5.5%), from €466,122 to €491,945
- Debts after one year -€17,364
down €17,364 (-35.8%), from €48,532 to €31,168
- Tax, wage and social debts -€8,497
down €8,497 (-21.3%), from €39,979 to €31,483
of which Taxes: -€4,513
- Financial charges -€8,458
down €8,458 (-73.2%), from €11,558 to €3,100
- Gross operating margin +€7,250
up €7,250 (+16.7%), from €43,534 to €50,784
- Taxes +€3,696
up €3,696 (+29.6%), from €12,476 to €16,172
- Financial income +€1,428
up €1,428 (+175%), from €815 to €2,244
- Other operating charges -€834
down €834 (-34.6%), from €2,411 to €1,577
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.
Derived cash bridge
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 | €756,187 | €634,665 | -€121,522 | -16.1% |
| Fixed assets | 21/28 | €176,028 | €171,537 | -€4,491 | -2.6% |
| Tangible fixed assets | 22/27 | €175,986 | €171,495 | -€4,491 | -2.6% |
| Land and buildings | 22 | €170,227 | €165,813 | -€4,414 | -2.6% |
| Plant, machinery and equipment | 23 | €1,783 | €1,043 | -€740 | -41.5% |
| Furniture and vehicles | 24 | €3,976 | €2,836 | -€1,140 | -28.7% |
| Other tangible fixed assets | 26 | - | €1,804 | +€1,804 | |
| Financial fixed assets | 28 | €42 | €42 | = | 0.0% |
| Current assets | 29/58 | €580,158 | €463,127 | -€117,031 | -20.2% |
| Amounts receivable within one year | 40/41 | €12,336 | €11,952 | -€384 | -3.1% |
| Trade receivables | 40 | €12,336 | €11,952 | -€384 | -3.1% |
| Current investments | 50/53 | €294,648 | €299,060 | +€4,413 | +1.5% |
| Cash at bank and in hand | 54/58 | €271,913 | €149,133 | -€122,780 | -45.2% |
| Deferred charges and accrued income | 490/1 | €1,262 | €2,982 | +€1,720 | +136% |
| Total equity and liabilities | 10/49 | €756,187 | €634,665 | -€121,522 | -16.1% |
| Equity | 10/15 | €484,722 | €510,545 | +€25,824 | +5.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €466,122 | €491,945 | +€25,824 | +5.5% |
| Distributable reserves | 133 | €466,122 | €491,945 | +€25,824 | +5.5% |
| Amounts payable | 17/49 | €271,465 | €124,119 | -€147,345 | -54.3% |
| Amounts payable after more than one year | 17 | €48,532 | €31,168 | -€17,364 | -35.8% |
| Financial debts | 170/4 | €48,532 | €31,168 | -€17,364 | -35.8% |
| Amounts payable within one year | 42/48 | €222,932 | €92,951 | -€129,981 | -58.3% |
| Current portion of amounts payable after more than one year | 42 | €7,233 | €6,728 | -€505 | -7.0% |
| Trade debts | 44 | €7,717 | €8,338 | +€621 | +8.0% |
| Suppliers | 440/4 | €7,717 | €8,338 | +€621 | +8.0% |
| Taxes, remuneration and social security | 45 | €39,979 | €31,483 | -€8,497 | -21.3% |
| Taxes | 450/3 | €35,995 | €31,483 | -€4,513 | -12.5% |
| Remuneration and social security | 454/9 | €3,984 | - | -€3,984 | |
| Other amounts payable | 47/48 | €168,003 | €46,403 | -€121,600 | -72.4% |
| Non-recurring operating income | 76A | €2,000 | - | -€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,229 | €6,355 | +€126 | +2.0% |
| Other operating charges | 640/8 | €2,411 | €1,577 | -€834 | -34.6% |
| Gross operating margin | 9900 | €43,534 | €50,784 | +€7,250 | +16.7% |
| Operating profit (loss) | 9901 | €34,895 | €42,852 | +€7,958 | +22.8% |
| Financial income | 75/76B | €815 | €2,244 | +€1,428 | +175% |
| Recurring financial income | 75 | €815 | €2,244 | +€1,428 | +175% |
| Financial charges | 65/66B | €11,558 | €3,100 | -€8,458 | -73.2% |
| Recurring financial charges | 65 | €11,558 | €3,100 | -€8,458 | -73.2% |
| Profit (loss) for the period before taxes | 9903 | €24,152 | €41,996 | +€17,844 | +73.9% |
| Income taxes | 67/77 | €12,476 | €16,172 | +€3,696 | +29.6% |
| Profit (loss) for the period | 9904 | €11,676 | €25,824 | +€14,148 | +121% |
| Profit (loss) for the period to be appropriated | 9905 | €11,676 | €25,824 | +€14,148 | +121% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.