What changed?
Two fiscal 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.
AM & GO
Largest movements
- Receivables within one year -€46,058
down €46,058 (-60.3%), from €76,403 to €30,345
of which Trade receivables: -€30,064
- Stocks and contracts -€16,964
down €16,964 (-31.2%), from €54,403 to €37,439
- Financial fixed assets +€3,300
new in 2025: €3,300
- Profit (loss) carried forward -€54,331
down €54,331 (-17811.5%), from -€305 to -€54,636
- Short-term financial debts -€4,958
no longer reported in 2025 (was €4,958)
- Trade debts -€2,909
down €2,909 (-3.8%), from €75,609 to €72,700
- Tax, wage and social debts +€2,714
up €2,714 (+6.4%), from €42,159 to €44,873
of which Remuneration and social security: +€17,369
- Purchases and services +€136,737
up €136,737 (+21.1%), from €648,370 to €785,107
- Turnover +€104,479
up €104,479 (+14.4%), from €725,101 to €829,580
- Gross operating margin -€32,963
down €32,963 (-37.3%), from €88,461 to €55,498
- Other operating charges +€15,438
up €15,438 (+299.4%), from €5,157 to €20,595
- Staff costs -€9,552
down €9,552 (-10.8%), from €88,791 to €79,239
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 | €132,144 | €71,998 | -€60,145 | -45.5% |
| Fixed assets | 21/28 | - | €3,300 | +€3,300 | |
| Financial fixed assets | 28 | - | €3,300 | +€3,300 | |
| Current assets | 29/58 | €132,144 | €68,698 | -€63,445 | -48.0% |
| Stocks and contracts in progress | 3 | €54,403 | €37,439 | -€16,964 | -31.2% |
| Stocks | 30/36 | €54,403 | €37,439 | -€16,964 | -31.2% |
| Amounts receivable within one year | 40/41 | €76,403 | €30,345 | -€46,058 | -60.3% |
| Trade receivables | 40 | €30,064 | - | -€30,064 | |
| Other amounts receivable | 41 | €46,339 | €30,345 | -€15,994 | -34.5% |
| Cash at bank and in hand | 54/58 | €1,337 | €914 | -€423 | -31.6% |
| Total equity and liabilities | 10/49 | €132,144 | €71,998 | -€60,145 | -45.5% |
| Equity | 10/15 | €7,406 | -€46,924 | -€54,331 | |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €7,710 | €7,710 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,710 | €7,710 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,710 | €7,710 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€305 | -€54,636 | -€54,331 | -17811.5% |
| Amounts payable | 17/49 | €124,737 | €118,923 | -€5,815 | -4.7% |
| Amounts payable within one year | 42/48 | €124,737 | €118,923 | -€5,815 | -4.7% |
| Financial debts | 43 | €4,958 | - | -€4,958 | |
| Credit institutions | 430/8 | €4,958 | - | -€4,958 | |
| Trade debts | 44 | €75,609 | €72,700 | -€2,909 | -3.8% |
| Suppliers | 440/4 | €75,609 | €72,700 | -€2,909 | -3.8% |
| Taxes, remuneration and social security | 45 | €42,159 | €44,873 | +€2,714 | +6.4% |
| Taxes | 450/3 | €21,282 | €6,626 | -€14,655 | -68.9% |
| Remuneration and social security | 454/9 | €20,877 | €38,247 | +€17,369 | +83.2% |
| Other amounts payable | 47/48 | €2,012 | €1,350 | -€662 | -32.9% |
| Turnover | 70 | €725,101 | €829,580 | +€104,479 | +14.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €648,370 | €785,107 | +€136,737 | +21.1% |
| Remuneration, social security and pensions | 62 | €88,791 | €79,239 | -€9,552 | -10.8% |
| Other operating charges | 640/8 | €5,157 | €20,595 | +€15,438 | +299.4% |
| Gross operating margin | 9900 | €88,461 | €55,498 | -€32,963 | -37.3% |
| Operating profit (loss) | 9901 | -€5,488 | -€44,336 | -€38,848 | -707.9% |
| Financial charges | 65/66B | €899 | €2,810 | +€1,911 | +212.5% |
| Recurring financial charges | 65 | €899 | €2,810 | +€1,911 | +212.5% |
| Profit (loss) for the period before taxes | 9903 | -€6,387 | -€47,146 | -€40,759 | -638.2% |
| Income taxes | 67/77 | - | €7,184 | +€7,184 | |
| Profit (loss) for the period | 9904 | -€6,387 | -€54,331 | -€47,944 | -750.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,387 | -€54,331 | -€47,944 | -750.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 September 2026 via checked.be.