Worksgroup: 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.
Worksgroup
Largest movements
- Receivables within one year +€349,823
up €349,823 (+57.9%), from €604,268 to €954,092
of which Trade receivables: +€338,029
- Stocks and contracts -€138,518
down €138,518 (-46.0%), from €301,000 to €162,482
of which Contracts in progress: -€138,518
- Tangible fixed assets +€85,129
up €85,129 (+23.5%), from €361,942 to €447,071
of which Other tangible fixed assets: +€143,207
- Cash -€61,990
down €61,990 (-85.4%), from €72,590 to €10,601
mainly Receivables within one year (-€349,823) and Net result for the year (-€239,304)
- Deferred charges and accrued income +€28,085
up €28,085 (+66.6%), from €42,176 to €70,261
- Tax, wage and social debts +€256,897
up €256,897 (+198%), from €129,803 to €386,701
of which Taxes: +€231,463
- Reserves -€235,000
down €235,000 (-95.2%), from €246,760 to €11,760
of which Distributable reserves: -€235,000
- Short-term financial debts +€169,004
up €169,004 (+169%), from €100,000 to €269,004
- Trade debts +€134,073
up €134,073 (+24.0%), from €557,754 to €691,826
- Other debts -€49,717
down €49,717 (-93.2%), from €53,364 to €3,647
- Staff costs +€233,433
up €233,433 (+16.4%), from €1.4m to €1.7m
- Gross operating margin +€193,288
up €193,288 (+11.4%), from €1.7m to €1.9m
- Taxes +€142,967
up €142,967 (+242%), from €59,088 to €202,055
- Financial charges +€42,880
up €42,880 (+44.5%), from €96,381 to €139,262
of which Financial charges: +€41,213
- Financial income -€38,237
down €38,237 (-48.7%), from €78,570 to €40,333
of which Non-recurring financial income: -€46,640
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 | €1,543,735 | €1,804,972 | +€261,237 | +16.9% |
| Fixed assets | 21/28 | €399,277 | €483,113 | +€83,836 | +21.0% |
| Intangible fixed assets | 21 | €3,560 | €1,067 | -€2,493 | -70.0% |
| Tangible fixed assets | 22/27 | €361,942 | €447,071 | +€85,129 | +23.5% |
| Plant, machinery and equipment | 23 | €255,835 | €225,919 | -€29,917 | -11.7% |
| Furniture and vehicles | 24 | €81,577 | €53,416 | -€28,161 | -34.5% |
| Other tangible fixed assets | 26 | €24,530 | €167,737 | +€143,207 | +584% |
| Financial fixed assets | 28 | €33,775 | €34,975 | +€1,200 | +3.6% |
| Current assets | 29/58 | €1,144,458 | €1,321,859 | +€177,401 | +15.5% |
| Amounts receivable after more than one year | 29 | €124,424 | €124,424 | = | 0.0% |
| Other amounts receivable | 291 | €124,424 | €124,424 | = | 0.0% |
| Stocks and contracts in progress | 3 | €301,000 | €162,482 | -€138,518 | -46.0% |
| Stocks | 30/36 | €60,000 | €60,000 | = | 0.0% |
| Contracts in progress | 37 | €241,000 | €102,482 | -€138,518 | -57.5% |
| Amounts receivable within one year | 40/41 | €604,268 | €954,092 | +€349,823 | +57.9% |
| Trade receivables | 40 | €426,181 | €764,210 | +€338,029 | +79.3% |
| Other amounts receivable | 41 | €178,087 | €189,881 | +€11,794 | +6.6% |
| Cash at bank and in hand | 54/58 | €72,590 | €10,601 | -€61,990 | -85.4% |
| Deferred charges and accrued income | 490/1 | €42,176 | €70,261 | +€28,085 | +66.6% |
| Total equity and liabilities | 10/49 | €1,543,735 | €1,804,972 | +€261,237 | +16.9% |
| Equity | 10/15 | €365,301 | €125,996 | -€239,304 | -65.5% |
| Contributions | 10/11 | €117,600 | €117,600 | = | 0.0% |
| Capital | 10 | €117,600 | €117,600 | = | 0.0% |
| Issued capital | 100 | €117,600 | €117,600 | = | 0.0% |
| Reserves | 13 | €246,760 | €11,760 | -€235,000 | -95.2% |
| Non-distributable reserves | 130/1 | €11,760 | €11,760 | = | 0.0% |
| Legal reserve | 130 | €11,760 | €11,760 | = | 0.0% |
| Distributable reserves | 133 | €235,000 | - | -€235,000 | |
| Profit (loss) carried forward | 14 | €941 | -€3,364 | -€4,304 | |
| Amounts payable | 17/49 | €1,178,435 | €1,678,976 | +€500,541 | +42.5% |
| Amounts payable after more than one year | 17 | €170,541 | €176,669 | +€6,128 | +3.6% |
| Financial debts | 170/4 | €170,541 | €176,669 | +€6,128 | +3.6% |
| Amounts payable within one year | 42/48 | €1,007,893 | €1,502,307 | +€494,413 | +49.1% |
| Current portion of amounts payable after more than one year | 42 | €166,972 | €151,129 | -€15,844 | -9.5% |
| Financial debts | 43 | €100,000 | €269,004 | +€169,004 | +169% |
| Credit institutions | 430/8 | €100,000 | €269,004 | +€169,004 | +169% |
| Trade debts | 44 | €557,754 | €691,826 | +€134,073 | +24.0% |
| Suppliers | 440/4 | €557,754 | €691,826 | +€134,073 | +24.0% |
| Taxes, remuneration and social security | 45 | €129,803 | €386,701 | +€256,897 | +198% |
| Taxes | 450/3 | €8,260 | €239,723 | +€231,463 | +2,802% |
| Remuneration and social security | 454/9 | €121,544 | €146,978 | +€25,434 | +20.9% |
| Other amounts payable | 47/48 | €53,364 | €3,647 | -€49,717 | -93.2% |
| Non-recurring operating income | 76A | €40,996 | €12,825 | -€28,171 | -68.7% |
| Remuneration, social security and pensions | 62 | €1,424,678 | €1,658,111 | +€233,433 | +16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,557 | €85,139 | -€6,419 | -7.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€2,325 | -€2,325 | |
| Other operating charges | 640/8 | €10,281 | €9,778 | -€502 | -4.9% |
| Non-recurring operating charges | 66A | €1,201 | €73,881 | +€72,679 | +6,050% |
| Gross operating margin | 9900 | €1,692,974 | €1,886,262 | +€193,288 | +11.4% |
| Operating profit (loss) | 9901 | €165,257 | €61,679 | -€103,578 | -62.7% |
| Financial income | 75/76B | €78,570 | €40,333 | -€38,237 | -48.7% |
| Recurring financial income | 75 | €1,470 | €9,873 | +€8,403 | +572% |
| Non-recurring financial income | 76B | €77,101 | €30,460 | -€46,640 | -60.5% |
| Financial charges | 65/66B | €96,381 | €139,262 | +€42,880 | +44.5% |
| Recurring financial charges | 65 | €91,848 | €133,061 | +€41,213 | +44.9% |
| Non-recurring financial charges | 66B | €4,534 | €6,201 | +€1,667 | +36.8% |
| Profit (loss) for the period before taxes | 9903 | €147,446 | -€37,250 | -€184,695 | |
| Income taxes | 67/77 | €59,088 | €202,055 | +€142,967 | +242% |
| Profit (loss) for the period | 9904 | €88,358 | -€239,304 | -€327,662 | |
| Profit (loss) for the period to be appropriated | 9905 | €88,358 | -€239,304 | -€327,662 |
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 16 October 2026 via checked.be.