1768: 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.
What changed
1768
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2,911
2024 · €11,571-€14,482
Equity
€201,835
2024 · €204,746-€2,911
Cash
€5,191
2024 · €15,646-€10,455
Balance sheet total
€290,977
2024 · €304,874-€13,897
Largest movements
Assets
- Cash -€10,455
down €10,455 (-66.8%), from €15,646 to €5,191
mainly Debts after one year (-€15,951) and Investment in fixed assets (net) (-€4,664)
Equity and liabilities
- Debts after one year -€15,951
down €15,951 (-34.8%), from €45,874 to €29,924
Income statement
- Gross operating margin -€11,383
down €11,383 (-56.5%), from €20,136 to €8,754
- Depreciation +€3,439
up €3,439 (+111.6%), from €3,083 to €6,521
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.
Result 2024
€11,571
Gross operating margin
-€11,383
Depreciation
-€3,439
Other operating charges
+€101
Financial income
+€111
Financial charges
+€145
Taxes
-€18
Result 2025
-€2,911
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.
From operations
+€9,343
Investment
-€4,664
Financing
-€15,134
Cash 2024
€15,646
From operations (derived)
+€9,343
Net result for the year
-€2,911
Depreciation
+€6,521
Receivables within one year
+€2,233
Deferred charges and accrued income
-€649
Trade debts
+€458
Smaller working-capital items
+€13
Advances received
+€1,465
Other debts
+€2,213
Investment (derived)
-€4,664
Investment in fixed assets (net)
-€4,664
Financing
-€15,134
Debts after one year
-€15,951
Current portion of long-term debt
+€817
Cash 2025
€5,191
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €304,874 | €290,977 | -€13,897 | -4.6% |
| Fixed assets | 21/28 | €283,999 | €282,142 | -€1,857 | -0.7% |
| Tangible fixed assets | 22/27 | €283,999 | €282,142 | -€1,857 | -0.7% |
| Land and buildings | 22 | €283,575 | €281,846 | -€1,729 | -0.6% |
| Furniture and vehicles | 24 | €424 | €296 | -€128 | -30.3% |
| Current assets | 29/58 | €20,874 | €8,835 | -€12,039 | -57.7% |
| Amounts receivable within one year | 40/41 | €4,492 | €2,259 | -€2,233 | -49.7% |
| Trade receivables | 40 | €2,992 | €759 | -€2,233 | -74.6% |
| Other amounts receivable | 41 | €1,500 | €1,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,646 | €5,191 | -€10,455 | -66.8% |
| Deferred charges and accrued income | 490/1 | €737 | €1,386 | +€649 | +88.0% |
| Total equity and liabilities | 10/49 | €304,874 | €290,977 | -€13,897 | -4.6% |
| Equity | 10/15 | €204,746 | €201,835 | -€2,911 | -1.4% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Revaluation surpluses | 12 | €230,231 | €230,231 | = | 0.0% |
| Reserves | 13 | €220,977 | €220,977 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €210,058 | €210,058 | = | 0.0% |
| Distributable reserves | 133 | €10,919 | €10,919 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€265,462 | -€268,373 | -€2,911 | -1.1% |
| Amounts payable | 17/49 | €100,127 | €89,142 | -€10,986 | -11.0% |
| Amounts payable after more than one year | 17 | €45,874 | €29,924 | -€15,951 | -34.8% |
| Financial debts | 170/4 | €45,874 | €29,924 | -€15,951 | -34.8% |
| Amounts payable within one year | 42/48 | €54,187 | €59,151 | +€4,964 | +9.2% |
| Current portion of amounts payable after more than one year | 42 | €15,134 | €15,951 | +€817 | +5.4% |
| Trade debts | 44 | €0 | €458 | +€458 | |
| Suppliers | 440/4 | €0 | €458 | +€458 | |
| Advances received on contracts in progress | 46 | €1,136 | €2,600 | +€1,465 | +129.0% |
| Taxes, remuneration and social security | 45 | €339 | €351 | +€12 | +3.5% |
| Taxes | 450/3 | €339 | €351 | +€12 | +3.5% |
| Other amounts payable | 47/48 | €37,578 | €39,791 | +€2,213 | +5.9% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,083 | €6,521 | +€3,439 | +111.6% |
| Other operating charges | 640/8 | €1,900 | €1,800 | -€101 | -5.3% |
| Gross operating margin | 9900 | €20,136 | €8,754 | -€11,383 | -56.5% |
| Operating profit (loss) | 9901 | €15,153 | €433 | -€14,721 | -97.1% |
| Financial income | 75/76B | €71 | €183 | +€111 | +156.6% |
| Recurring financial income | 75 | €71 | €183 | +€111 | +156.6% |
| Financial charges | 65/66B | €3,468 | €3,323 | -€145 | -4.2% |
| Recurring financial charges | 65 | €3,468 | €3,323 | -€145 | -4.2% |
| Profit (loss) for the period before taxes | 9903 | €11,756 | -€2,708 | -€14,464 | |
| Income taxes | 67/77 | €185 | €204 | +€18 | +10.0% |
| Profit (loss) for the period | 9904 | €11,571 | -€2,911 | -€14,482 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,571 | -€2,911 | -€14,482 |
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 2 October 2026 via checked.be.