ALSO: 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.
ALSO
Largest movements
- Receivables within one year -€14,749
no longer reported in 2025 (was €14,749)
- Stocks and contracts +€13,995
up €13,995 (+11.2%), from €125,020 to €139,015
- Tangible fixed assets -€4,516
down €4,516 (-13.9%), from €32,553 to €28,036
of which Furniture and vehicles: -€4,806
- Deferred charges and accrued income -€3,024
no longer reported in 2025 (was €3,024)
- Trade debts -€12,842
down €12,842 (-27.8%), from €46,215 to €33,373
- Other debts +€7,189
up €7,189 (+11.4%), from €63,270 to €70,458
- Debts after one year -€4,139
down €4,139 (-55.3%), from €7,487 to €3,348
- Staff costs +€8,583
up €8,583 (+72.9%), from €11,769 to €20,353
- Gross operating margin +€7,447
up €7,447 (+26.8%), from €27,761 to €35,208
- Financial charges -€2,889
down €2,889 (-65.1%), from €4,438 to €1,549
- Depreciation +€2,093
up €2,093 (+29.2%), from €7,168 to €9,261
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 | €179,610 | €169,839 | -€9,771 | -5.4% |
| Fixed assets | 21/28 | €34,553 | €30,036 | -€4,516 | -13.1% |
| Tangible fixed assets | 22/27 | €32,553 | €28,036 | -€4,516 | -13.9% |
| Plant, machinery and equipment | 23 | €2,214 | €1,476 | -€738 | -33.3% |
| Furniture and vehicles | 24 | €18,379 | €13,573 | -€4,806 | -26.2% |
| Leasing and similar rights | 25 | €11,959 | €9,476 | -€2,483 | -20.8% |
| Other tangible fixed assets | 26 | - | €3,511 | +€3,511 | |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €145,057 | €139,803 | -€5,254 | -3.6% |
| Stocks and contracts in progress | 3 | €125,020 | €139,015 | +€13,995 | +11.2% |
| Stocks | 30/36 | €125,020 | €139,015 | +€13,995 | +11.2% |
| Amounts receivable within one year | 40/41 | €14,749 | - | -€14,749 | |
| Trade receivables | 40 | €14,749 | - | -€14,749 | |
| Cash at bank and in hand | 54/58 | €2,265 | €788 | -€1,477 | -65.2% |
| Deferred charges and accrued income | 490/1 | €3,024 | - | -€3,024 | |
| Total equity and liabilities | 10/49 | €179,610 | €169,839 | -€9,771 | -5.4% |
| Equity | 10/15 | €41,703 | €41,827 | +€124 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,103 | €23,227 | +€124 | +0.5% |
| Amounts payable | 17/49 | €137,907 | €128,012 | -€9,895 | -7.2% |
| Amounts payable after more than one year | 17 | €7,487 | €3,348 | -€4,139 | -55.3% |
| Financial debts | 170/4 | €7,487 | €3,348 | -€4,139 | -55.3% |
| Amounts payable within one year | 42/48 | €130,420 | €124,664 | -€5,756 | -4.4% |
| Current portion of amounts payable after more than one year | 42 | €3,963 | €4,139 | +€176 | +4.4% |
| Trade debts | 44 | €46,215 | €33,373 | -€12,842 | -27.8% |
| Suppliers | 440/4 | €46,215 | €33,373 | -€12,842 | -27.8% |
| Taxes, remuneration and social security | 45 | €16,972 | €16,694 | -€278 | -1.6% |
| Taxes | 450/3 | €4,824 | €9,313 | +€4,489 | +93.0% |
| Remuneration and social security | 454/9 | €12,148 | €7,381 | -€4,766 | -39.2% |
| Other amounts payable | 47/48 | €63,270 | €70,458 | +€7,189 | +11.4% |
| Remuneration, social security and pensions | 62 | €11,769 | €20,353 | +€8,583 | +72.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,168 | €9,261 | +€2,093 | +29.2% |
| Other operating charges | 640/8 | €1,519 | €1,379 | -€139 | -9.2% |
| Gross operating margin | 9900 | €27,761 | €35,208 | +€7,447 | +26.8% |
| Operating profit (loss) | 9901 | €7,305 | €4,215 | -€3,089 | -42.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,438 | €1,549 | -€2,889 | -65.1% |
| Recurring financial charges | 65 | €4,438 | €1,549 | -€2,889 | -65.1% |
| Profit (loss) for the period before taxes | 9903 | €2,867 | €2,667 | -€200 | -7.0% |
| Income taxes | 67/77 | €2,471 | €2,543 | +€72 | +2.9% |
| Profit (loss) for the period | 9904 | €396 | €124 | -€272 | -68.7% |
| Profit (loss) for the period to be appropriated | 9905 | €396 | €124 | -€272 | -68.7% |
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 25 October 2026 via checked.be.