WORK IN PROGRESS BELGIUM: 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.
WORK IN PROGRESS BELGIUM
Largest movements
- Tangible fixed assets -€713,760
down €713,760 (-27.3%), from €2.6m to €1.9m
of which Other tangible fixed assets: -€707,026
- Receivables within one year +€597,201
up €597,201 (+235%), from €254,435 to €851,636
of which Trade receivables: +€755,672
- Cash +€235,446
up €235,446 (+32.5%), from €723,494 to €958,940
mainly Depreciation (+€738,764) and Tax, wage and social debts (+€231,570)
- Stocks and contracts +€63,211
up €63,211 (+7.1%), from €893,661 to €956,873
- Tax, wage and social debts +€231,570
up €231,570 (+197%), from €117,303 to €348,873
of which Taxes: +€181,845
- Trade debts -€138,428
down €138,428 (-12.5%), from €1.1m to €968,797
- Debts after one year +€55,420
up €55,420 (+4.1%), from €1.4m to €1.4m
- Write-downs -€217,068
down €217,068, from €143,669 to -€73,399
- Staff costs +€146,063
up €146,063 (+10.0%), from €1.5m to €1.6m
- Gross operating margin -€135,307
down €135,307 (-5.2%), from €2.6m to €2.5m
- Financial charges +€38,579
up €38,579 (+53.9%), from €71,523 to €110,102
- Taxes -€33,451
down €33,451 (-70.2%), from €47,656 to €14,205
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.
Derived cash bridge
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 | €4,598,685 | €4,777,144 | +€178,459 | +3.9% |
| Fixed assets | 21/28 | €2,651,219 | €1,931,750 | -€719,469 | -27.1% |
| Intangible fixed assets | 21 | €10,278 | €4,722 | -€5,556 | -54.1% |
| Tangible fixed assets | 22/27 | €2,612,806 | €1,899,045 | -€713,760 | -27.3% |
| Furniture and vehicles | 24 | €18,716 | €11,982 | -€6,734 | -36.0% |
| Other tangible fixed assets | 26 | €2,594,089 | €1,887,063 | -€707,026 | -27.3% |
| Financial fixed assets | 28 | €28,135 | €27,982 | -€153 | -0.5% |
| Current assets | 29/58 | €1,947,467 | €2,845,394 | +€897,928 | +46.1% |
| Stocks and contracts in progress | 3 | €893,661 | €956,873 | +€63,211 | +7.1% |
| Stocks | 30/36 | €893,661 | €956,873 | +€63,211 | +7.1% |
| Amounts receivable within one year | 40/41 | €254,435 | €851,636 | +€597,201 | +235% |
| Trade receivables | 40 | €40,089 | €795,761 | +€755,672 | +1,885% |
| Other amounts receivable | 41 | €214,346 | €55,875 | -€158,471 | -73.9% |
| Current investments | 50/53 | €62,629 | €62,957 | +€329 | +0.5% |
| Cash at bank and in hand | 54/58 | €723,494 | €958,940 | +€235,446 | +32.5% |
| Deferred charges and accrued income | 490/1 | €13,248 | €14,989 | +€1,741 | +13.1% |
| Total equity and liabilities | 10/49 | €4,598,685 | €4,777,144 | +€178,459 | +3.9% |
| Equity | 10/15 | €2,008,420 | €2,039,156 | +€30,736 | +1.5% |
| Contributions | 10/11 | €700,000 | €700,000 | = | 0.0% |
| Reserves | 13 | €70,000 | €70,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €70,000 | €70,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,238,420 | €1,269,156 | +€30,736 | +2.5% |
| Amounts payable | 17/49 | €2,590,266 | €2,737,988 | +€147,723 | +5.7% |
| Amounts payable after more than one year | 17 | €1,364,899 | €1,420,319 | +€55,420 | +4.1% |
| Other amounts payable | 178/9 | €1,364,899 | €1,420,319 | +€55,420 | +4.1% |
| Amounts payable within one year | 42/48 | €1,224,528 | €1,317,670 | +€93,141 | +7.6% |
| Trade debts | 44 | €1,107,225 | €968,797 | -€138,428 | -12.5% |
| Suppliers | 440/4 | €1,107,225 | €968,797 | -€138,428 | -12.5% |
| Taxes, remuneration and social security | 45 | €117,303 | €348,873 | +€231,570 | +197% |
| Taxes | 450/3 | €11 | €181,856 | +€181,845 | +1,645,654% |
| Remuneration and social security | 454/9 | €117,292 | €167,017 | +€49,725 | +42.4% |
| Accrued charges and deferred income | 492/3 | €839 | - | -€839 | |
| Remuneration, social security and pensions | 62 | €1,455,430 | €1,601,493 | +€146,063 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €734,803 | €738,764 | +€3,961 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €143,669 | -€73,399 | -€217,068 | |
| Other operating charges | 640/8 | €18,191 | €51,438 | +€33,247 | +183% |
| Gross operating margin | 9900 | €2,608,134 | €2,472,827 | -€135,307 | -5.2% |
| Operating profit (loss) | 9901 | €256,041 | €154,531 | -€101,510 | -39.6% |
| Financial income | 75/76B | €765 | €512 | -€253 | -33.0% |
| Recurring financial income | 75 | €765 | €512 | -€253 | -33.0% |
| Financial charges | 65/66B | €71,523 | €110,102 | +€38,579 | +53.9% |
| Recurring financial charges | 65 | €71,523 | €110,102 | +€38,579 | +53.9% |
| Profit (loss) for the period before taxes | 9903 | €185,283 | €44,941 | -€140,342 | -75.7% |
| Income taxes | 67/77 | €47,656 | €14,205 | -€33,451 | -70.2% |
| Profit (loss) for the period | 9904 | €137,627 | €30,736 | -€106,891 | -77.7% |
| Profit (loss) for the period to be appropriated | 9905 | €137,627 | €30,736 | -€106,891 | -77.7% |
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 17 October 2026 via checked.be.