@ WORK: 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.
@ WORK
Largest movements
- Tangible fixed assets -€32,063
down €32,063 (-7.3%), from €439,760 to €407,698
of which Land and buildings: -€21,012
- Stocks and contracts -€16,438
down €16,438 (-5.8%), from €282,866 to €266,427
- Debts after one year -€29,802
down €29,802 (-10.6%), from €281,113 to €251,310
- Tax, wage and social debts -€23,696
down €23,696 (-59.5%), from €39,821 to €16,125
of which Remuneration and social security: -€19,088
- Other debts +€14,577
up €14,577 (+91.7%), from €15,901 to €30,479
- Short-term financial debts -€10,000
down €10,000 (-25.0%), from €40,000 to €30,000
- Gross operating margin -€12,314
down €12,314 (-17.7%), from €69,724 to €57,410
- Taxes -€5,569
down €5,569 (-89.3%), from €6,238 to €670
- Financial income -€4,766
down €4,766 (-87.5%), from €5,448 to €682
- Financial charges +€3,395
up €3,395 (+22.0%), from €15,457 to €18,852
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 | €815,805 | €764,722 | -€51,083 | -6.3% |
| Fixed assets | 21/28 | €447,530 | €415,468 | -€32,063 | -7.2% |
| Tangible fixed assets | 22/27 | €439,760 | €407,698 | -€32,063 | -7.3% |
| Land and buildings | 22 | €403,885 | €382,873 | -€21,012 | -5.2% |
| Plant, machinery and equipment | 23 | €25,231 | €19,155 | -€6,076 | -24.1% |
| Furniture and vehicles | 24 | - | €5,669 | +€5,669 | |
| Leasing and similar rights | 25 | €10,645 | €0 | -€10,645 | -100.0% |
| Financial fixed assets | 28 | €7,770 | €7,770 | = | 0.0% |
| Current assets | 29/58 | €368,275 | €349,254 | -€19,020 | -5.2% |
| Stocks and contracts in progress | 3 | €282,866 | €266,427 | -€16,438 | -5.8% |
| Stocks | 30/36 | €282,866 | €266,427 | -€16,438 | -5.8% |
| Amounts receivable within one year | 40/41 | €70,377 | €68,957 | -€1,420 | -2.0% |
| Trade receivables | 40 | €64,615 | €63,865 | -€750 | -1.2% |
| Other amounts receivable | 41 | €5,762 | €5,092 | -€670 | -11.6% |
| Cash at bank and in hand | 54/58 | €15,032 | €13,870 | -€1,162 | -7.7% |
| Total equity and liabilities | 10/49 | €815,805 | €764,722 | -€51,083 | -6.3% |
| Equity | 10/15 | €350,343 | €351,498 | +€1,155 | +0.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €321,173 | €322,328 | +€1,155 | +0.4% |
| Tax-exempt reserves | 132 | €16,000 | €16,000 | = | 0.0% |
| Distributable reserves | 133 | €305,173 | €306,328 | +€1,155 | +0.4% |
| Profit (loss) carried forward | 14 | €9,170 | €9,170 | +€0 | 0.0% |
| Amounts payable | 17/49 | €465,461 | €413,223 | -€52,238 | -11.2% |
| Amounts payable after more than one year | 17 | €281,113 | €251,310 | -€29,802 | -10.6% |
| Financial debts | 170/4 | €281,113 | €251,310 | -€29,802 | -10.6% |
| Amounts payable within one year | 42/48 | €184,349 | €161,913 | -€22,436 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €34,580 | €29,802 | -€4,778 | -13.8% |
| Financial debts | 43 | €40,000 | €30,000 | -€10,000 | -25.0% |
| Credit institutions | 430/8 | €40,000 | €30,000 | -€10,000 | -25.0% |
| Trade debts | 44 | €54,046 | €55,507 | +€1,461 | +2.7% |
| Suppliers | 440/4 | €54,046 | €55,507 | +€1,461 | +2.7% |
| Taxes, remuneration and social security | 45 | €39,821 | €16,125 | -€23,696 | -59.5% |
| Taxes | 450/3 | €20,733 | €16,125 | -€4,608 | -22.2% |
| Remuneration and social security | 454/9 | €19,088 | €0 | -€19,088 | -100.0% |
| Other amounts payable | 47/48 | €15,901 | €30,479 | +€14,577 | +91.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,433 | €33,220 | -€214 | -0.6% |
| Other operating charges | 640/8 | €4,564 | €4,196 | -€369 | -8.1% |
| Gross operating margin | 9900 | €69,724 | €57,410 | -€12,314 | -17.7% |
| Operating profit (loss) | 9901 | €31,727 | €19,995 | -€11,731 | -37.0% |
| Financial income | 75/76B | €5,448 | €682 | -€4,766 | -87.5% |
| Recurring financial income | 75 | €5,448 | €682 | -€4,766 | -87.5% |
| Financial charges | 65/66B | €15,457 | €18,852 | +€3,395 | +22.0% |
| Recurring financial charges | 65 | €15,457 | €18,852 | +€3,395 | +22.0% |
| Profit (loss) for the period before taxes | 9903 | €21,717 | €1,825 | -€19,892 | -91.6% |
| Income taxes | 67/77 | €6,238 | €670 | -€5,569 | -89.3% |
| Profit (loss) for the period | 9904 | €15,479 | €1,155 | -€14,324 | -92.5% |
| Profit (loss) for the period to be appropriated | 9905 | €15,479 | €1,155 | -€14,324 | -92.5% |
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 4 October 2026 via checked.be.