YOURI STEVERLYNCK: 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.
YOURI STEVERLYNCK
Largest movements
- Cash -€28,482
down €28,482 (-18.1%), from €157,681 to €129,199
mainly Other debts (-€54,786) and Tax, wage and social debts (-€14,454)
- Receivables within one year -€27,349
down €27,349 (-4.1%), from €662,895 to €635,545
of which Trade receivables: -€86,683
- Other debts -€54,786
down €54,786 (-21.0%), from €260,456 to €205,670
- Trade debts +€16,468
up €16,468 (+152%), from €10,866 to €27,333
- Tax, wage and social debts -€14,454
down €14,454 (-21.0%), from €68,674 to €54,220
of which Taxes: -€10,021
- Staff costs +€8,616
up €8,616 (+4.9%), from €177,180 to €185,796
- Gross operating margin +€5,247
up €5,247 (+2.5%), from €210,488 to €215,736
- Depreciation -€4,888
down €4,888 (-45.7%), from €10,704 to €5,817
- Other operating charges +€4,467
new in 2025: €4,467
- Financial charges -€2,924
down €2,924 (-23.9%), from €12,255 to €9,331
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 | €1,392,770 | €1,332,733 | -€60,036 | -4.3% |
| Fixed assets | 21/28 | €570,829 | €567,140 | -€3,689 | -0.6% |
| Tangible fixed assets | 22/27 | €14,574 | €10,885 | -€3,689 | -25.3% |
| Plant, machinery and equipment | 23 | €5,904 | €4,926 | -€978 | -16.6% |
| Furniture and vehicles | 24 | €3,350 | €2,369 | -€981 | -29.3% |
| Other tangible fixed assets | 26 | €5,320 | €3,589 | -€1,731 | -32.5% |
| Financial fixed assets | 28 | €556,255 | €556,255 | = | 0.0% |
| Current assets | 29/58 | €821,941 | €765,594 | -€56,347 | -6.9% |
| Amounts receivable within one year | 40/41 | €662,895 | €635,545 | -€27,349 | -4.1% |
| Trade receivables | 40 | €515,658 | €428,975 | -€86,683 | -16.8% |
| Other amounts receivable | 41 | €147,237 | €206,571 | +€59,334 | +40.3% |
| Cash at bank and in hand | 54/58 | €157,681 | €129,199 | -€28,482 | -18.1% |
| Deferred charges and accrued income | 490/1 | €1,365 | €849 | -€516 | -37.8% |
| Total equity and liabilities | 10/49 | €1,392,770 | €1,332,733 | -€60,036 | -4.3% |
| Equity | 10/15 | €880,146 | €884,039 | +€3,893 | +0.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €867,746 | €871,639 | +€3,893 | +0.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,438 | €9,438 | = | 0.0% |
| Distributable reserves | 133 | €856,448 | €860,341 | +€3,893 | +0.5% |
| Amounts payable | 17/49 | €512,624 | €448,695 | -€63,929 | -12.5% |
| Amounts payable after more than one year | 17 | €10,521 | - | -€10,521 | |
| Financial debts | 170/4 | €10,521 | - | -€10,521 | |
| Amounts payable within one year | 42/48 | €501,153 | €447,745 | -€53,408 | -10.7% |
| Current portion of amounts payable after more than one year | 42 | €11,157 | €10,521 | -€636 | -5.7% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €10,866 | €27,333 | +€16,468 | +152% |
| Suppliers | 440/4 | €10,866 | €27,333 | +€16,468 | +152% |
| Taxes, remuneration and social security | 45 | €68,674 | €54,220 | -€14,454 | -21.0% |
| Taxes | 450/3 | €38,103 | €28,083 | -€10,021 | -26.3% |
| Remuneration and social security | 454/9 | €30,571 | €26,137 | -€4,433 | -14.5% |
| Other amounts payable | 47/48 | €260,456 | €205,670 | -€54,786 | -21.0% |
| Accrued charges and deferred income | 492/3 | €950 | €950 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €177,180 | €185,796 | +€8,616 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,704 | €5,817 | -€4,888 | -45.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,397 | €4,871 | +€474 | +10.8% |
| Other operating charges | 640/8 | - | €4,467 | +€4,467 | |
| Gross operating margin | 9900 | €210,488 | €215,736 | +€5,247 | +2.5% |
| Operating profit (loss) | 9901 | €18,208 | €14,786 | -€3,422 | -18.8% |
| Financial income | 75/76B | €2,241 | €3,279 | +€1,038 | +46.3% |
| Recurring financial income | 75 | €2,241 | €3,279 | +€1,038 | +46.3% |
| Financial charges | 65/66B | €12,255 | €9,331 | -€2,924 | -23.9% |
| Recurring financial charges | 65 | €12,255 | €9,331 | -€2,924 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €8,194 | €8,734 | +€540 | +6.6% |
| Income taxes | 67/77 | €7,070 | €4,841 | -€2,229 | -31.5% |
| Profit (loss) for the period | 9904 | €1,125 | €3,893 | +€2,768 | +246% |
| Profit (loss) for the period to be appropriated | 9905 | €1,125 | €3,893 | +€2,768 | +246% |
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.