2 CLEAN: what changed
Two financial 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.
2 CLEAN
Largest movements
- Tangible fixed assets +€324,626
up €324,626 (+52.7%), from €616,143 to €940,770
of which Land and buildings: +€202,670
- Cash +€37,411
up €37,411 (+45.5%), from €82,205 to €119,616
mainly Debts after one year (+€290,204) and Depreciation (+€107,826)
- Receivables within one year +€19,088
up €19,088 (+10.2%), from €186,914 to €206,002
of which Trade receivables: +€18,513
- Receivables after one year +€18,817
up €18,817 (+135%), from €13,922 to €32,739
- Debts after one year +€290,204
up €290,204 (+57.6%), from €503,514 to €793,719
- Reserves +€90,000
up €90,000 (+31.0%), from €290,010 to €380,010
of which Distributable reserves: +€90,000
- Current portion of long-term debt +€27,426
up €27,426 (+57.7%), from €47,515 to €74,941
- Gross operating margin +€159,987
up €159,987 (+23.5%), from €679,714 to €839,702
- Staff costs +€126,992
up €126,992 (+29.0%), from €437,559 to €564,551
- Depreciation +€40,447
up €40,447 (+60.0%), from €67,379 to €107,826
- Financial charges +€18,270
up €18,270 (+108%), from €16,978 to €35,248
- Taxes -€8,917
down €8,917 (-20.9%), from €42,686 to €33,769
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.
Derived cash bridge
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 | €981,845 | €1,379,229 | +€397,384 | +40.5% |
| Fixed assets | 21/28 | €669,510 | €989,136 | +€319,626 | +47.7% |
| Intangible fixed assets | 21 | €41,767 | €36,767 | -€5,000 | -12.0% |
| Tangible fixed assets | 22/27 | €616,143 | €940,770 | +€324,626 | +52.7% |
| Land and buildings | 22 | €390,859 | €593,529 | +€202,670 | +51.9% |
| Plant, machinery and equipment | 23 | €50,740 | €91,419 | +€40,679 | +80.2% |
| Furniture and vehicles | 24 | €9,636 | €64,999 | +€55,364 | +575% |
| Leasing and similar rights | 25 | €164,909 | €190,822 | +€25,913 | +15.7% |
| Financial fixed assets | 28 | €11,600 | €11,600 | = | 0.0% |
| Current assets | 29/58 | €312,335 | €390,093 | +€77,758 | +24.9% |
| Amounts receivable after more than one year | 29 | €13,922 | €32,739 | +€18,817 | +135% |
| Other amounts receivable | 291 | €13,922 | €32,739 | +€18,817 | +135% |
| Stocks and contracts in progress | 3 | €21,224 | €24,920 | +€3,696 | +17.4% |
| Stocks | 30/36 | €21,224 | €24,920 | +€3,696 | +17.4% |
| Amounts receivable within one year | 40/41 | €186,914 | €206,002 | +€19,088 | +10.2% |
| Trade receivables | 40 | €116,507 | €135,020 | +€18,513 | +15.9% |
| Other amounts receivable | 41 | €70,407 | €70,983 | +€576 | +0.8% |
| Cash at bank and in hand | 54/58 | €82,205 | €119,616 | +€37,411 | +45.5% |
| Deferred charges and accrued income | 490/1 | €8,070 | €6,815 | -€1,255 | -15.6% |
| Total equity and liabilities | 10/49 | €981,845 | €1,379,229 | +€397,384 | +40.5% |
| Equity | 10/15 | €294,179 | €385,151 | +€90,972 | +30.9% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €290,010 | €380,010 | +€90,000 | +31.0% |
| Non-distributable reserves | 130/1 | €10 | €10 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10 | €10 | = | 0.0% |
| Distributable reserves | 133 | €290,000 | €380,000 | +€90,000 | +31.0% |
| Profit (loss) carried forward | 14 | €4,069 | €5,041 | +€972 | +23.9% |
| Amounts payable | 17/49 | €687,666 | €994,078 | +€306,412 | +44.6% |
| Amounts payable after more than one year | 17 | €503,514 | €793,719 | +€290,204 | +57.6% |
| Financial debts | 170/4 | €503,514 | €793,719 | +€290,204 | +57.6% |
| Amounts payable within one year | 42/48 | €184,152 | €200,359 | +€16,208 | +8.8% |
| Current portion of amounts payable after more than one year | 42 | €47,515 | €74,941 | +€27,426 | +57.7% |
| Financial debts | 43 | €962 | €1,000 | +€38 | +3.9% |
| Credit institutions | 430/8 | €962 | €1,000 | +€38 | +3.9% |
| Trade debts | 44 | €60,015 | €50,931 | -€9,084 | -15.1% |
| Suppliers | 440/4 | €60,015 | €50,931 | -€9,084 | -15.1% |
| Taxes, remuneration and social security | 45 | €75,660 | €73,487 | -€2,173 | -2.9% |
| Taxes | 450/3 | €17,788 | €19,686 | +€1,898 | +10.7% |
| Remuneration and social security | 454/9 | €57,872 | €53,801 | -€4,071 | -7.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €437,559 | €564,551 | +€126,992 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,379 | €107,826 | +€40,447 | +60.0% |
| Other operating charges | 640/8 | €9,694 | €12,279 | +€2,584 | +26.7% |
| Non-recurring operating charges | 66A | €16,782 | €0 | -€16,782 | -100% |
| Gross operating margin | 9900 | €679,714 | €839,702 | +€159,987 | +23.5% |
| Operating profit (loss) | 9901 | €148,300 | €155,046 | +€6,746 | +4.5% |
| Financial income | 75/76B | €2,055 | €4,943 | +€2,888 | +141% |
| Recurring financial income | 75 | €2,055 | €4,943 | +€2,888 | +141% |
| Financial charges | 65/66B | €16,978 | €35,248 | +€18,270 | +108% |
| Recurring financial charges | 65 | €16,978 | €35,248 | +€18,270 | +108% |
| Profit (loss) for the period before taxes | 9903 | €133,377 | €124,741 | -€8,636 | -6.5% |
| Income taxes | 67/77 | €42,686 | €33,769 | -€8,917 | -20.9% |
| Profit (loss) for the period | 9904 | €90,691 | €90,972 | +€281 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €90,691 | €90,972 | +€281 | +0.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.