22 Estate: 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.
22 Estate
Largest movements
- Stocks and contracts +€849,011
up €849,011 (+45.1%), from €1.9m to €2.7m
- Short-term financial debts +€1.9m
up €1.9m (+80,879%), from €2,322 to €1.9m
- Debts after one year -€1.3m
down €1.3m (-100%), from €1.3m to €0
- Accrued charges and deferred income +€269,056
up €269,056 (+581%), from €46,316 to €315,371
- Trade debts -€84,731
down €84,731 (-73.2%), from €115,734 to €31,003
- Other debts +€72,512
up €72,512 (+965%), from €7,512 to €80,024
- Gross operating margin +€14,199
up €14,199, from -€9,967 to €4,232
- Financial charges +€8,554
up €8,554 (+316%), from €2,708 to €11,262
- Financial income -€162
down €162 (-72.2%), from €224 to €62
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 | €1,887,506 | €2,741,833 | +€854,327 | +45.3% |
| Current assets | 29/58 | €1,887,506 | €2,741,833 | +€854,327 | +45.3% |
| Stocks and contracts in progress | 3 | €1,880,700 | €2,729,711 | +€849,011 | +45.1% |
| Stocks | 30/36 | €1,880,700 | €2,729,711 | +€849,011 | +45.1% |
| Amounts receivable within one year | 40/41 | €6,806 | €9,630 | +€2,824 | +41.5% |
| Trade receivables | 40 | €6,806 | €9,630 | +€2,824 | +41.5% |
| Cash at bank and in hand | 54/58 | - | €643 | +€643 | |
| Deferred charges and accrued income | 490/1 | - | €1,849 | +€1,849 | |
| Total equity and liabilities | 10/49 | €1,887,506 | €2,741,833 | +€854,327 | +45.3% |
| Equity | 10/15 | €443,232 | €435,435 | -€7,797 | -1.8% |
| Contributions | 10/11 | €456,455 | €456,455 | = | 0.0% |
| Capital | 10 | €456,455 | €456,455 | = | 0.0% |
| Issued capital | 100 | €474,780 | €474,780 | = | 0.0% |
| Uncalled capital | 101 | €18,326 | €18,326 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,222 | -€21,020 | -€7,797 | -59.0% |
| Amounts payable | 17/49 | €1,444,274 | €2,306,398 | +€862,124 | +59.7% |
| Amounts payable after more than one year | 17 | €1,272,391 | €0 | -€1.3m | -100% |
| Financial debts | 170/4 | €1,272,391 | €0 | -€1.3m | -100% |
| Amounts payable within one year | 42/48 | €125,567 | €1,991,027 | +€1.9m | +1,486% |
| Financial debts | 43 | €2,322 | €1,880,000 | +€1.9m | +80,879% |
| Credit institutions | 430/8 | €2,322 | €1,880,000 | +€1.9m | +80,879% |
| Trade debts | 44 | €115,734 | €31,003 | -€84,731 | -73.2% |
| Suppliers | 440/4 | €115,734 | €31,003 | -€84,731 | -73.2% |
| Other amounts payable | 47/48 | €7,512 | €80,024 | +€72,512 | +965% |
| Accrued charges and deferred income | 492/3 | €46,316 | €315,371 | +€269,056 | +581% |
| Other operating charges | 640/8 | €772 | €829 | +€58 | +7.5% |
| Gross operating margin | 9900 | -€9,967 | €4,232 | +€14,199 | |
| Operating profit (loss) | 9901 | -€10,739 | €3,402 | +€14,141 | |
| Financial income | 75/76B | €224 | €62 | -€162 | -72.2% |
| Recurring financial income | 75 | €224 | €62 | -€162 | -72.2% |
| Financial charges | 65/66B | €2,708 | €11,262 | +€8,554 | +316% |
| Recurring financial charges | 65 | €2,708 | €11,262 | +€8,554 | +316% |
| Profit (loss) for the period before taxes | 9903 | -€13,222 | -€7,797 | +€5,425 | +41.0% |
| Profit (loss) for the period | 9904 | -€13,222 | -€7,797 | +€5,425 | +41.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,222 | -€7,797 | +€5,425 | +41.0% |
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 24 October 2026 via checked.be.