14 ALL: 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.
14 ALL
Largest movements
- Tangible fixed assets +€179,808
new in 2025: €179,808
of which Land and buildings: +€124,923
- Receivables within one year -€136,768
down €136,768 (-78.1%), from €175,133 to €38,365
of which Trade receivables: -€139,601
- Cash -€64,353
down €64,353 (-47.4%), from €135,699 to €71,345
mainly Contributions, distributions and other (-€339,409) and Investment in fixed assets (net) (-€214,850)
- Intangible fixed assets -€16,300
down €16,300 (-11.4%), from €142,592 to €126,292
- Profit (loss) carried forward -€260,741
down €260,741 (-76.8%), from €339,409 to €78,669
- Other debts +€179,779
up €179,779 (+250.6%), from €71,747 to €251,526
- Debts after one year +€75,050
up €75,050 (+112.2%), from €66,909 to €141,959
- Tax, wage and social debts -€23,057
down €23,057 (-29.0%), from €79,508 to €56,451
of which Taxes: -€25,093
- Trade debts -€16,847
down €16,847 (-66.3%), from €25,403 to €8,556
- Gross operating margin -€142,352
down €142,352 (-36.8%), from €386,445 to €244,093
- Taxes -€39,865
down €39,865 (-54.3%), from €73,480 to €33,615
- Depreciation +€35,043
up €35,043 (+215.0%), from €16,300 to €51,343
- Staff costs +€11,176
up €11,176 (+18.0%), from €62,168 to €73,344
- Financial charges +€6,514
up €6,514, from -€242 to €6,272
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 | €605,932 | €567,892 | -€38,040 | -6.3% |
| Fixed assets | 21/28 | €292,592 | €456,099 | +€163,508 | +55.9% |
| Intangible fixed assets | 21 | €142,592 | €126,292 | -€16,300 | -11.4% |
| Tangible fixed assets | 22/27 | - | €179,808 | +€179,808 | |
| Land and buildings | 22 | - | €124,923 | +€124,923 | |
| Plant, machinery and equipment | 23 | - | €38,079 | +€38,079 | |
| Furniture and vehicles | 24 | - | €16,806 | +€16,806 | |
| Financial fixed assets | 28 | €150,000 | €150,000 | = | 0.0% |
| Current assets | 29/58 | €313,340 | €111,793 | -€201,548 | -64.3% |
| Amounts receivable within one year | 40/41 | €175,133 | €38,365 | -€136,768 | -78.1% |
| Trade receivables | 40 | €152,765 | €13,163 | -€139,601 | -91.4% |
| Other amounts receivable | 41 | €22,369 | €25,202 | +€2,834 | +12.7% |
| Cash at bank and in hand | 54/58 | €135,699 | €71,345 | -€64,353 | -47.4% |
| Deferred charges and accrued income | 490/1 | €2,509 | €2,082 | -€427 | -17.0% |
| Total equity and liabilities | 10/49 | €605,932 | €567,892 | -€38,040 | -6.3% |
| Equity | 10/15 | €342,409 | €81,669 | -€260,741 | -76.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €339,409 | €78,669 | -€260,741 | -76.8% |
| Amounts payable | 17/49 | €263,523 | €486,223 | +€222,701 | +84.5% |
| Amounts payable after more than one year | 17 | €66,909 | €141,959 | +€75,050 | +112.2% |
| Financial debts | 170/4 | €66,909 | €141,959 | +€75,050 | +112.2% |
| Amounts payable within one year | 42/48 | €195,064 | €340,905 | +€145,841 | +74.8% |
| Current portion of amounts payable after more than one year | 42 | €18,406 | €24,372 | +€5,966 | +32.4% |
| Trade debts | 44 | €25,403 | €8,556 | -€16,847 | -66.3% |
| Suppliers | 440/4 | €25,403 | €8,556 | -€16,847 | -66.3% |
| Taxes, remuneration and social security | 45 | €79,508 | €56,451 | -€23,057 | -29.0% |
| Taxes | 450/3 | €62,868 | €37,775 | -€25,093 | -39.9% |
| Remuneration and social security | 454/9 | €16,640 | €18,676 | +€2,037 | +12.2% |
| Other amounts payable | 47/48 | €71,747 | €251,526 | +€179,779 | +250.6% |
| Accrued charges and deferred income | 492/3 | €1,550 | €3,359 | +€1,809 | +116.7% |
| Remuneration, social security and pensions | 62 | €62,168 | €73,344 | +€11,176 | +18.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,300 | €51,343 | +€35,043 | +215.0% |
| Other operating charges | 640/8 | €834 | €924 | +€90 | +10.8% |
| Non-recurring operating charges | 66A | €36,746 | - | -€36,746 | |
| Gross operating margin | 9900 | €386,445 | €244,093 | -€142,352 | -36.8% |
| Operating profit (loss) | 9901 | €270,397 | €118,482 | -€151,915 | -56.2% |
| Financial income | 75/76B | €67 | €73 | +€6 | +9.7% |
| Recurring financial income | 75 | €67 | €73 | +€6 | +9.7% |
| Financial charges | 65/66B | -€242 | €6,272 | +€6,514 | |
| Recurring financial charges | 65 | -€242 | €6,272 | +€6,514 | |
| Profit (loss) for the period before taxes | 9903 | €270,706 | €112,283 | -€158,422 | -58.5% |
| Income taxes | 67/77 | €73,480 | €33,615 | -€39,865 | -54.3% |
| Profit (loss) for the period | 9904 | €197,225 | €78,668 | -€118,557 | -60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €197,225 | €78,668 | -€118,557 | -60.1% |
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 5 October 2026 via checked.be.