WORKING HEROES: 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.
WORKING HEROES
Largest movements
- Stocks and contracts -€43,898
down €43,898 (-38.5%), from €114,014 to €70,116
- Receivables within one year +€36,669
new in 2025: €36,669
of which Trade receivables: +€32,111
- Cash +€13,575
up €13,575 (+36.5%), from €37,234 to €50,810
mainly Stocks and contracts (+€43,898) and Trade debts (+€33,471)
- Tangible fixed assets -€4,288
down €4,288 (-2.5%), from €169,354 to €165,066
of which Furniture and vehicles: -€8,049
- Deferred charges and accrued income -€3,659
no longer reported in 2025 (was €3,659)
- Reserves -€50,229
down €50,229 (-20.7%), from €242,264 to €192,035
- Profit (loss) carried forward +€39,800
up €39,800 (+1439.5%), from €2,765 to €42,565
- Trade debts +€33,471
up €33,471 (+599.1%), from €5,587 to €39,058
- Debts after one year -€8,385
down €8,385 (-47.7%), from €17,562 to €9,177
- Other debts -€6,583
no longer reported in 2025 (was €6,583)
- Gross operating margin -€44,008
down €44,008 (-50.2%), from €87,724 to €43,716
- Taxes -€13,939
down €13,939 (-58.3%), from €23,917 to €9,978
- Depreciation +€7,598
up €7,598 (+63.9%), from €11,888 to €19,486
- Staff costs -€3,675
down €3,675 (-20.8%), from €17,661 to €13,986
- Other operating charges -€1,006
down €1,006 (-32.9%), from €3,061 to €2,054
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 | €324,262 | €322,661 | -€1,600 | -0.5% |
| Fixed assets | 21/28 | €169,354 | €165,066 | -€4,288 | -2.5% |
| Tangible fixed assets | 22/27 | €169,354 | €165,066 | -€4,288 | -2.5% |
| Land and buildings | 22 | €1,256 | - | -€1,256 | |
| Plant, machinery and equipment | 23 | €3,473 | €3,201 | -€273 | -7.8% |
| Furniture and vehicles | 24 | €23,396 | €15,347 | -€8,049 | -34.4% |
| Other tangible fixed assets | 26 | €141,229 | €146,518 | +€5,289 | +3.7% |
| Current assets | 29/58 | €154,908 | €157,595 | +€2,687 | +1.7% |
| Stocks and contracts in progress | 3 | €114,014 | €70,116 | -€43,898 | -38.5% |
| Stocks | 30/36 | €114,014 | €70,116 | -€43,898 | -38.5% |
| Amounts receivable within one year | 40/41 | - | €36,669 | +€36,669 | |
| Trade receivables | 40 | - | €32,111 | +€32,111 | |
| Other amounts receivable | 41 | - | €4,558 | +€4,558 | |
| Cash at bank and in hand | 54/58 | €37,234 | €50,810 | +€13,575 | +36.5% |
| Deferred charges and accrued income | 490/1 | €3,659 | - | -€3,659 | |
| Total equity and liabilities | 10/49 | €324,262 | €322,661 | -€1,600 | -0.5% |
| Equity | 10/15 | €263,629 | €253,200 | -€10,429 | -4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €242,264 | €192,035 | -€50,229 | -20.7% |
| Distributable reserves | 133 | €242,264 | €192,035 | -€50,229 | -20.7% |
| Profit (loss) carried forward | 14 | €2,765 | €42,565 | +€39,800 | +1439.5% |
| Amounts payable | 17/49 | €60,633 | €69,461 | +€8,829 | +14.6% |
| Amounts payable after more than one year | 17 | €17,562 | €9,177 | -€8,385 | -47.7% |
| Financial debts | 170/4 | €17,562 | €9,177 | -€8,385 | -47.7% |
| Amounts payable within one year | 42/48 | €43,071 | €60,284 | +€17,213 | +40.0% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | €4,287 | -€5,713 | -57.1% |
| Trade debts | 44 | €5,587 | €39,058 | +€33,471 | +599.1% |
| Suppliers | 440/4 | €5,587 | €39,058 | +€33,471 | +599.1% |
| Taxes, remuneration and social security | 45 | €20,901 | €16,939 | -€3,962 | -19.0% |
| Taxes | 450/3 | €15,490 | €12,535 | -€2,954 | -19.1% |
| Remuneration and social security | 454/9 | €5,411 | €4,404 | -€1,007 | -18.6% |
| Other amounts payable | 47/48 | €6,583 | - | -€6,583 | |
| Remuneration, social security and pensions | 62 | €17,661 | €13,986 | -€3,675 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,888 | €19,486 | +€7,598 | +63.9% |
| Other operating charges | 640/8 | €3,061 | €2,054 | -€1,006 | -32.9% |
| Gross operating margin | 9900 | €87,724 | €43,716 | -€44,008 | -50.2% |
| Operating profit (loss) | 9901 | €55,114 | €8,189 | -€46,924 | -85.1% |
| Financial income | 75/76B | €2,120 | €2,398 | +€278 | +13.1% |
| Recurring financial income | 75 | €2,120 | €2,398 | +€278 | +13.1% |
| Financial charges | 65/66B | €381 | €1,036 | +€655 | +172.0% |
| Recurring financial charges | 65 | €381 | €1,036 | +€655 | +172.0% |
| Profit (loss) for the period before taxes | 9903 | €56,853 | €9,551 | -€47,302 | -83.2% |
| Income taxes | 67/77 | €23,917 | €9,978 | -€13,939 | -58.3% |
| Profit (loss) for the period | 9904 | €32,936 | -€427 | -€33,363 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,936 | -€427 | -€33,363 |
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 11 October 2026 via checked.be.