12.3: 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.
12.3
Largest movements
- Tangible fixed assets -€9,952
down €9,952 (-21.7%), from €45,962 to €36,010
of which Land and buildings: -€6,308
- Receivables within one year -€7,337
down €7,337 (-39.8%), from €18,446 to €11,109
of which Other amounts receivable: -€13,413
- Reserves -€42,344
down €42,344 (-17.5%), from €242,096 to €199,753
- Other debts +€31,933
up €31,933 (+1719.0%), from €1,858 to €33,791
- Accrued charges and deferred income -€3,345
down €3,345 (-35.0%), from €9,547 to €6,202
- Turnover -€201,993
no longer reported in 2025 (was €201,993)
- Purchases and services -€132,748
no longer reported in 2025 (was €132,748)
- Gross operating margin -€50,694
down €50,694 (-70.6%), from €71,800 to €21,105
- Taxes -€13,931
down €13,931 (-78.6%), from €17,731 to €3,800
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 | €269,237 | €255,030 | -€14,206 | -5.3% |
| Fixed assets | 21/28 | €45,962 | €36,010 | -€9,952 | -21.7% |
| Tangible fixed assets | 22/27 | €45,962 | €36,010 | -€9,952 | -21.7% |
| Land and buildings | 22 | €33,521 | €27,213 | -€6,308 | -18.8% |
| Furniture and vehicles | 24 | €9,436 | €7,196 | -€2,240 | -23.7% |
| Other tangible fixed assets | 26 | €3,004 | €1,601 | -€1,404 | -46.7% |
| Current assets | 29/58 | €223,275 | €219,021 | -€4,254 | -1.9% |
| Amounts receivable within one year | 40/41 | €18,446 | €11,109 | -€7,337 | -39.8% |
| Trade receivables | 40 | €3,025 | €9,101 | +€6,076 | +200.9% |
| Other amounts receivable | 41 | €15,421 | €2,008 | -€13,413 | -87.0% |
| Cash at bank and in hand | 54/58 | €202,999 | €204,973 | +€1,973 | +1.0% |
| Deferred charges and accrued income | 490/1 | €1,830 | €2,939 | +€1,109 | +60.6% |
| Total equity and liabilities | 10/49 | €269,237 | €255,030 | -€14,206 | -5.3% |
| Equity | 10/15 | €254,496 | €212,153 | -€42,344 | -16.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €242,096 | €199,753 | -€42,344 | -17.5% |
| Distributable reserves | 133 | €242,096 | €199,753 | -€42,344 | -17.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €14,740 | €42,878 | +€28,138 | +190.9% |
| Amounts payable within one year | 42/48 | €5,193 | €36,676 | +€31,483 | +606.3% |
| Trade debts | 44 | €1,091 | €1,555 | +€464 | +42.5% |
| Suppliers | 440/4 | €1,091 | €1,555 | +€464 | +42.5% |
| Taxes, remuneration and social security | 45 | €2,245 | €1,331 | -€914 | -40.7% |
| Taxes | 450/3 | €2,245 | €1,331 | -€914 | -40.7% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,858 | €33,791 | +€31,933 | +1719.0% |
| Accrued charges and deferred income | 492/3 | €9,547 | €6,202 | -€3,345 | -35.0% |
| Turnover | 70 | €201,993 | - | -€201,993 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €132,748 | - | -€132,748 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,952 | €9,952 | = | 0.0% |
| Other operating charges | 640/8 | €710 | €866 | +€156 | +22.0% |
| Gross operating margin | 9900 | €71,800 | €21,105 | -€50,694 | -70.6% |
| Operating profit (loss) | 9901 | €61,138 | €10,287 | -€50,851 | -83.2% |
| Financial income | 75/76B | €2,176 | €1,242 | -€934 | -42.9% |
| Recurring financial income | 75 | €2,176 | €1,242 | -€934 | -42.9% |
| Financial charges | 65/66B | €258 | €73 | -€185 | -71.8% |
| Recurring financial charges | 65 | €258 | €73 | -€185 | -71.8% |
| Profit (loss) for the period before taxes | 9903 | €63,056 | €11,456 | -€51,600 | -81.8% |
| Income taxes | 67/77 | €17,731 | €3,800 | -€13,931 | -78.6% |
| Profit (loss) for the period | 9904 | €45,325 | €7,656 | -€37,668 | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €45,325 | €7,656 | -€37,668 | -83.1% |
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 7 October 2026 via checked.be.