1825: 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.
1825
Largest movements
- Tangible fixed assets -€27,200
down €27,200 (-3.9%), from €700,267 to €673,066
- Receivables after one year -€11,544
no longer reported in 2025 (was €11,544)
- Current investments +€10,000
up €10,000 (+40.0%), from €25,000 to €35,000
- Debts after one year -€65,544
down €65,544 (-12.9%), from €507,801 to €442,256
- Current portion of long-term debt +€20,847
up €20,847 (+46.6%), from €44,698 to €65,544
- Profit (loss) carried forward +€16,190
up €16,190, from -€10,856 to €5,334
- Gross operating margin -€9,145
down €9,145 (-12.6%), from €72,843 to €63,698
- Financial charges -€2,937
down €2,937 (-26.3%), from €11,186 to €8,248
- Taxes +€1,743
up €1,743 (+10036.7%), from €17 to €1,761
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 | €751,643 | €726,919 | -€24,723 | -3.3% |
| Fixed assets | 21/28 | €700,267 | €673,066 | -€27,200 | -3.9% |
| Tangible fixed assets | 22/27 | €700,267 | €673,066 | -€27,200 | -3.9% |
| Land and buildings | 22 | €700,267 | €673,066 | -€27,200 | -3.9% |
| Current assets | 29/58 | €51,376 | €53,853 | +€2,477 | +4.8% |
| Amounts receivable after more than one year | 29 | €11,544 | - | -€11,544 | |
| Other amounts receivable | 291 | €11,544 | - | -€11,544 | |
| Amounts receivable within one year | 40/41 | - | €5,760 | +€5,760 | |
| Other amounts receivable | 41 | - | €5,760 | +€5,760 | |
| Current investments | 50/53 | €25,000 | €35,000 | +€10,000 | +40.0% |
| Cash at bank and in hand | 54/58 | €13,699 | €11,754 | -€1,945 | -14.2% |
| Deferred charges and accrued income | 490/1 | €1,133 | €1,339 | +€206 | +18.2% |
| Total equity and liabilities | 10/49 | €751,643 | €726,919 | -€24,723 | -3.3% |
| Equity | 10/15 | €199,144 | €215,334 | +€16,190 | +8.1% |
| Contributions | 10/11 | €210,000 | €210,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,856 | €5,334 | +€16,190 | |
| Amounts payable | 17/49 | €552,498 | €511,585 | -€40,914 | -7.4% |
| Amounts payable after more than one year | 17 | €507,801 | €442,256 | -€65,544 | -12.9% |
| Financial debts | 170/4 | €507,801 | €442,256 | -€65,544 | -12.9% |
| Amounts payable within one year | 42/48 | €44,698 | €69,328 | +€24,631 | +55.1% |
| Current portion of amounts payable after more than one year | 42 | €44,698 | €65,544 | +€20,847 | +46.6% |
| Trade debts | 44 | - | €3,784 | +€3,784 | |
| Suppliers | 440/4 | - | €3,784 | +€3,784 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,200 | €27,200 | = | 0.0% |
| Other operating charges | 640/8 | €1,206 | €1,244 | +€38 | +3.1% |
| Non-recurring operating charges | 66A | - | €9,389 | +€9,389 | |
| Gross operating margin | 9900 | €72,843 | €63,698 | -€9,145 | -12.6% |
| Operating profit (loss) | 9901 | €44,437 | €25,865 | -€18,572 | -41.8% |
| Financial income | 75/76B | €120 | €334 | +€214 | +179.1% |
| Recurring financial income | 75 | €120 | €334 | +€214 | +179.1% |
| Financial charges | 65/66B | €11,186 | €8,248 | -€2,937 | -26.3% |
| Recurring financial charges | 65 | €11,186 | €8,248 | -€2,937 | -26.3% |
| Profit (loss) for the period before taxes | 9903 | €33,371 | €17,951 | -€15,420 | -46.2% |
| Income taxes | 67/77 | €17 | €1,761 | +€1,743 | +10036.7% |
| Profit (loss) for the period | 9904 | €33,354 | €16,190 | -€17,163 | -51.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,354 | €16,190 | -€17,163 | -51.5% |
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.