13-03: 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.
13-03
Largest movements
- Cash +€46,435
up €46,435 (+722.7%), from €6,425 to €52,860
mainly Net result for the year (+€73,618) and Depreciation (+€22,009)
- Tangible fixed assets -€20,410
down €20,410 (-3.7%), from €556,946 to €536,536
of which Land and buildings: -€18,481
- Profit (loss) carried forward +€73,618
new in 2025: €73,618
- Debts after one year -€24,037
down €24,037 (-9.5%), from €252,201 to €228,164
- Other debts -€23,499
down €23,499 (-84.3%), from €27,862 to €4,363
- Tax, wage and social debts +€7,813
up €7,813 (+70.9%), from €11,023 to €18,836
of which Taxes: +€7,014
- Gross operating margin +€34,614
up €34,614 (+32.1%), from €107,747 to €142,361
- Staff costs +€8,425
new in 2025: €8,425
- Write-downs +€6,990
new in 2025: €6,990
- Financial charges -€1,488
down €1,488 (-23.7%), from €6,268 to €4,780
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 | €663,986 | €695,451 | +€31,464 | +4.7% |
| Fixed assets | 21/28 | €617,996 | €597,586 | -€20,410 | -3.3% |
| Tangible fixed assets | 22/27 | €556,946 | €536,536 | -€20,410 | -3.7% |
| Land and buildings | 22 | €548,135 | €529,654 | -€18,481 | -3.4% |
| Plant, machinery and equipment | 23 | €3,525 | €2,720 | -€805 | -22.8% |
| Furniture and vehicles | 24 | €5,286 | €4,162 | -€1,124 | -21.3% |
| Financial fixed assets | 28 | €61,050 | €61,050 | = | 0.0% |
| Current assets | 29/58 | €45,990 | €97,865 | +€51,875 | +112.8% |
| Amounts receivable within one year | 40/41 | €39,464 | €44,908 | +€5,444 | +13.8% |
| Trade receivables | 40 | €16,964 | €27,349 | +€10,385 | +61.2% |
| Other amounts receivable | 41 | €22,500 | €17,559 | -€4,941 | -22.0% |
| Cash at bank and in hand | 54/58 | €6,425 | €52,860 | +€46,435 | +722.7% |
| Deferred charges and accrued income | 490/1 | €101 | €97 | -€4 | -4.1% |
| Total equity and liabilities | 10/49 | €663,986 | €695,451 | +€31,464 | +4.7% |
| Equity | 10/15 | €343,649 | €417,267 | +€73,618 | +21.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €325,049 | €325,049 | = | 0.0% |
| Distributable reserves | 133 | €325,049 | €325,049 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €73,618 | +€73,618 | |
| Amounts payable | 17/49 | €320,338 | €278,184 | -€42,154 | -13.2% |
| Amounts payable after more than one year | 17 | €252,201 | €228,164 | -€24,037 | -9.5% |
| Financial debts | 170/4 | €252,201 | €228,164 | -€24,037 | -9.5% |
| Amounts payable within one year | 42/48 | €68,137 | €50,019 | -€18,117 | -26.6% |
| Current portion of amounts payable after more than one year | 42 | €28,596 | €24,037 | -€4,559 | -15.9% |
| Trade debts | 44 | €656 | €2,783 | +€2,127 | +324.3% |
| Suppliers | 440/4 | €656 | €2,783 | +€2,127 | +324.3% |
| Taxes, remuneration and social security | 45 | €11,023 | €18,836 | +€7,813 | +70.9% |
| Taxes | 450/3 | €11,023 | €18,038 | +€7,014 | +63.6% |
| Remuneration and social security | 454/9 | - | €799 | +€799 | |
| Other amounts payable | 47/48 | €27,862 | €4,363 | -€23,499 | -84.3% |
| Non-recurring operating income | 76A | €284 | €0 | -€284 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €8,425 | +€8,425 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,781 | €22,009 | +€228 | +1.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,990 | +€6,990 | |
| Other operating charges | 640/8 | €1,490 | €903 | -€587 | -39.4% |
| Gross operating margin | 9900 | €107,747 | €142,361 | +€34,614 | +32.1% |
| Operating profit (loss) | 9901 | €84,476 | €104,035 | +€19,559 | +23.2% |
| Financial income | 75/76B | €168 | €1 | -€167 | -99.6% |
| Recurring financial income | 75 | €168 | €1 | -€167 | -99.6% |
| Financial charges | 65/66B | €6,268 | €4,780 | -€1,488 | -23.7% |
| Recurring financial charges | 65 | €6,268 | €4,780 | -€1,488 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | €78,376 | €99,256 | +€20,880 | +26.6% |
| Income taxes | 67/77 | €25,291 | €25,637 | +€346 | +1.4% |
| Profit (loss) for the period | 9904 | €53,084 | €73,618 | +€20,534 | +38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,084 | €73,618 | +€20,534 | +38.7% |
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 3 October 2026 via checked.be.