FIVE: what changed
FIVE
Largest movements
- Receivables within one year +€9,368
up €9,368 (+67.1%), from €13,953 to €23,321
of which Trade receivables: +€9,368
- Stocks and contracts -€2,332
down €2,332 (-3.3%), from €69,675 to €67,343
- Cash +€1,437
up €1,437 (+18.6%), from €7,717 to €9,154
mainly Net result for the year (+€19,810) and Tax, wage and social debts (+€9,388)
- Tangible fixed assets -€1,375
down €1,375 (-41.4%), from €3,323 to €1,947
- Deferred charges and accrued income -€1,160
down €1,160 (-62.1%), from €1,868 to €708
- Other debts -€33,434
down €33,434 (-41.3%), from €80,929 to €47,495
- Profit (loss) carried forward +€19,810
up €19,810 (+45.8%), from -€43,282 to -€23,472
- Tax, wage and social debts +€9,388
up €9,388 (+33.2%), from €28,286 to €37,674
of which Taxes: +€6,727
- Current portion of long-term debt +€5,722
new in 2025: €5,722
- Trade debts +€4,051
up €4,051 (+16.8%), from €24,153 to €28,204
- Gross operating margin +€12,644
up €12,644 (+14.3%), from €88,280 to €100,924
- Taxes +€9,479
up €9,479 (+600%), from €1,580 to €11,059
- Staff costs +€3,535
up €3,535 (+5.6%), from €62,925 to €66,460
- Depreciation -€3,523
down €3,523 (-60.8%), from €5,798 to €2,275
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €107,888 | €112,925 | +€5,036 | +4.7% |
| Fixed assets | 21/28 | €14,675 | €12,400 | -€2,275 | -15.5% |
| Intangible fixed assets | 21 | €1,352 | €452 | -€900 | -66.5% |
| Tangible fixed assets | 22/27 | €3,323 | €1,947 | -€1,375 | -41.4% |
| Furniture and vehicles | 24 | €3,323 | €1,947 | -€1,375 | -41.4% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €93,213 | €100,525 | +€7,312 | +7.8% |
| Stocks and contracts in progress | 3 | €69,675 | €67,343 | -€2,332 | -3.3% |
| Stocks | 30/36 | €69,675 | €67,343 | -€2,332 | -3.3% |
| Amounts receivable within one year | 40/41 | €13,953 | €23,321 | +€9,368 | +67.1% |
| Trade receivables | 40 | €13,953 | €23,321 | +€9,368 | +67.1% |
| Other amounts receivable | 41 | €0 | - | -€0 | |
| Cash at bank and in hand | 54/58 | €7,717 | €9,154 | +€1,437 | +18.6% |
| Deferred charges and accrued income | 490/1 | €1,868 | €708 | -€1,160 | -62.1% |
| Total equity and liabilities | 10/49 | €107,888 | €112,925 | +€5,036 | +4.7% |
| Equity | 10/15 | -€27,082 | -€7,272 | +€19,810 | +73.1% |
| Contributions | 10/11 | €16,200 | €16,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,282 | -€23,472 | +€19,810 | +45.8% |
| Amounts payable | 17/49 | €134,971 | €120,197 | -€14,774 | -10.9% |
| Amounts payable within one year | 42/48 | €134,971 | €120,197 | -€14,774 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | - | €5,722 | +€5,722 | |
| Financial debts | 43 | €1,603 | €1,102 | -€501 | -31.2% |
| Credit institutions | 430/8 | €1,603 | €1,102 | -€501 | -31.2% |
| Trade debts | 44 | €24,153 | €28,204 | +€4,051 | +16.8% |
| Suppliers | 440/4 | €24,153 | €28,204 | +€4,051 | +16.8% |
| Taxes, remuneration and social security | 45 | €28,286 | €37,674 | +€9,388 | +33.2% |
| Taxes | 450/3 | €20,625 | €27,352 | +€6,727 | +32.6% |
| Remuneration and social security | 454/9 | €7,661 | €10,323 | +€2,662 | +34.7% |
| Other amounts payable | 47/48 | €80,929 | €47,495 | -€33,434 | -41.3% |
| Remuneration, social security and pensions | 62 | €62,925 | €66,460 | +€3,535 | +5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,798 | €2,275 | -€3,523 | -60.8% |
| Other operating charges | 640/8 | €559 | €417 | -€142 | -25.5% |
| Gross operating margin | 9900 | €88,280 | €100,924 | +€12,644 | +14.3% |
| Operating profit (loss) | 9901 | €18,997 | €31,772 | +€12,775 | +67.2% |
| Financial income | 75/76B | €89 | €1 | -€88 | -98.5% |
| Recurring financial income | 75 | €89 | €1 | -€88 | -98.5% |
| Financial charges | 65/66B | €420 | €904 | +€483 | +115% |
| Recurring financial charges | 65 | €420 | €904 | +€483 | +115% |
| Profit (loss) for the period before taxes | 9903 | €18,666 | €30,869 | +€12,203 | +65.4% |
| Income taxes | 67/77 | €1,580 | €11,059 | +€9,479 | +600% |
| Profit (loss) for the period | 9904 | €17,086 | €19,810 | +€2,724 | +15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,086 | €19,810 | +€2,724 | +15.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.