XIIII: 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.
XIIII
Largest movements
- Tangible fixed assets -€20,665
down €20,665 (-30.0%), from €68,973 to €48,308
of which Plant, machinery and equipment: -€11,170
- Cash +€10,949
up €10,949 (+134%), from €8,181 to €19,130
mainly Depreciation (+€30,579) and Receivables within one year (+€10,256)
- Receivables within one year -€10,256
down €10,256 (-41.0%), from €24,999 to €14,743
of which Other amounts receivable: -€10,985
- Deferred charges and accrued income +€3,264
up €3,264 (+280%), from €1,165 to €4,428
- Stocks and contracts +€1,914
up €1,914 (+10.6%), from €18,039 to €19,953
- Trade debts -€10,705
down €10,705 (-34.4%), from €31,097 to €20,392
- Current portion of long-term debt -€9,332
down €9,332 (-37.3%), from €25,042 to €15,710
- Debts after one year -€7,089
down €7,089 (-88.0%), from €8,052 to €963
- Tax, wage and social debts +€7,019
up €7,019 (+24.9%), from €28,172 to €35,190
of which Taxes: +€3,589
- Profit (loss) carried forward +€3,412
up €3,412 (+33.5%), from -€10,181 to -€6,769
- Staff costs -€20,796
down €20,796 (-9.5%), from €219,534 to €198,738
- Gross operating margin -€8,208
down €8,208 (-3.3%), from €250,524 to €242,316
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 | €122,741 | €107,599 | -€15,142 | -12.3% |
| Formation expenses | 20 | €597 | €249 | -€347 | -58.2% |
| Fixed assets | 21/28 | €69,761 | €49,096 | -€20,665 | -29.6% |
| Tangible fixed assets | 22/27 | €68,973 | €48,308 | -€20,665 | -30.0% |
| Plant, machinery and equipment | 23 | €34,384 | €23,213 | -€11,170 | -32.5% |
| Furniture and vehicles | 24 | €16,694 | €12,066 | -€4,628 | -27.7% |
| Other tangible fixed assets | 26 | €17,896 | €13,029 | -€4,867 | -27.2% |
| Financial fixed assets | 28 | €788 | €788 | = | 0.0% |
| Current assets | 29/58 | €52,383 | €58,254 | +€5,870 | +11.2% |
| Stocks and contracts in progress | 3 | €18,039 | €19,953 | +€1,914 | +10.6% |
| Stocks | 30/36 | €18,039 | €19,953 | +€1,914 | +10.6% |
| Amounts receivable within one year | 40/41 | €24,999 | €14,743 | -€10,256 | -41.0% |
| Trade receivables | 40 | €8,249 | €8,978 | +€729 | +8.8% |
| Other amounts receivable | 41 | €16,750 | €5,765 | -€10,985 | -65.6% |
| Cash at bank and in hand | 54/58 | €8,181 | €19,130 | +€10,949 | +134% |
| Deferred charges and accrued income | 490/1 | €1,165 | €4,428 | +€3,264 | +280% |
| Total equity and liabilities | 10/49 | €122,741 | €107,599 | -€15,142 | -12.3% |
| Equity | 10/15 | €29,295 | €32,706 | +€3,412 | +11.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €20,876 | €20,876 | = | 0.0% |
| Distributable reserves | 133 | €20,876 | €20,876 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,181 | -€6,769 | +€3,412 | +33.5% |
| Amounts payable | 17/49 | €93,446 | €74,893 | -€18,554 | -19.9% |
| Amounts payable after more than one year | 17 | €8,052 | €963 | -€7,089 | -88.0% |
| Financial debts | 170/4 | €8,052 | €963 | -€7,089 | -88.0% |
| Amounts payable within one year | 42/48 | €85,394 | €73,929 | -€11,465 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €25,042 | €15,710 | -€9,332 | -37.3% |
| Trade debts | 44 | €31,097 | €20,392 | -€10,705 | -34.4% |
| Suppliers | 440/4 | €31,097 | €20,392 | -€10,705 | -34.4% |
| Advances received on contracts in progress | 46 | €1,084 | €2,638 | +€1,554 | +143% |
| Taxes, remuneration and social security | 45 | €28,172 | €35,190 | +€7,019 | +24.9% |
| Taxes | 450/3 | €10,239 | €13,828 | +€3,589 | +35.1% |
| Remuneration and social security | 454/9 | €17,933 | €21,363 | +€3,430 | +19.1% |
| Non-recurring operating income | 76A | €4,286 | €2,497 | -€1,789 | -41.7% |
| Remuneration, social security and pensions | 62 | €219,534 | €198,738 | -€20,796 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,846 | €30,579 | -€267 | -0.9% |
| Other operating charges | 640/8 | €2,246 | €2,254 | +€8 | +0.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €250,524 | €242,316 | -€8,208 | -3.3% |
| Operating profit (loss) | 9901 | -€2,102 | €10,745 | +€12,848 | |
| Financial income | 75/76B | €242 | €57 | -€185 | -76.4% |
| Recurring financial income | 75 | €242 | €57 | -€185 | -76.4% |
| Financial charges | 65/66B | €7,060 | €5,448 | -€1,612 | -22.8% |
| Recurring financial charges | 65 | €7,060 | €5,448 | -€1,612 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | -€8,920 | €5,354 | +€14,275 | |
| Income taxes | 67/77 | €202 | €1,943 | +€1,741 | +864% |
| Profit (loss) for the period | 9904 | -€9,122 | €3,412 | +€12,534 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,122 | €3,412 | +€12,534 |
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 28 October 2026 via checked.be.