2703: 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.
2703
Largest movements
- Tangible fixed assets +€220,172
up €220,172 (+58203.4%), from €378 to €220,550
of which Land and buildings: +€220,419
- Cash -€68,232
down €68,232 (-74.3%), from €91,849 to €23,617
mainly Investment in fixed assets (net) (-€225,802) and Tax, wage and social debts (-€16,132)
- Receivables within one year -€29,701
down €29,701 (-86.9%), from €34,188 to €4,487
of which Trade receivables: -€28,569
- Debts after one year +€130,942
new in 2025: €130,942
- Tax, wage and social debts -€16,132
down €16,132 (-97.5%), from €16,554 to €422
- Other debts +€12,018
up €12,018 (+71.7%), from €16,761 to €28,779
- Reserves -€10,808
down €10,808 (-12.1%), from €89,423 to €78,614
- Current portion of long-term debt +€5,245
new in 2025: €5,245
- Gross operating margin -€46,974
down €46,974 (-97.0%), from €48,421 to €1,446
- Taxes -€14,182
down €14,182 (-100.0%), from €14,182 to €0
- Depreciation +€4,542
up €4,542 (+417.6%), from €1,088 to €5,630
- Financial charges +€4,126
up €4,126 (+546.4%), from €755 to €4,881
- Other operating charges +€485
up €485 (+38.5%), from €1,259 to €1,744
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 | €126,907 | €249,007 | +€122,100 | +96.2% |
| Fixed assets | 21/28 | €378 | €220,550 | +€220,172 | +58203.4% |
| Tangible fixed assets | 22/27 | €378 | €220,550 | +€220,172 | +58203.4% |
| Land and buildings | 22 | - | €220,419 | +€220,419 | |
| Furniture and vehicles | 24 | €378 | €131 | -€247 | -65.3% |
| Current assets | 29/58 | €126,529 | €28,457 | -€98,072 | -77.5% |
| Amounts receivable within one year | 40/41 | €34,188 | €4,487 | -€29,701 | -86.9% |
| Trade receivables | 40 | €33,056 | €4,487 | -€28,569 | -86.4% |
| Other amounts receivable | 41 | €1,132 | €0 | -€1,132 | -100.0% |
| Cash at bank and in hand | 54/58 | €91,849 | €23,617 | -€68,232 | -74.3% |
| Deferred charges and accrued income | 490/1 | €492 | €353 | -€139 | -28.3% |
| Total equity and liabilities | 10/49 | €126,907 | €249,007 | +€122,100 | +96.2% |
| Equity | 10/15 | €92,423 | €81,614 | -€10,808 | -11.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €89,423 | €78,614 | -€10,808 | -12.1% |
| Distributable reserves | 133 | €89,423 | €78,614 | -€10,808 | -12.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €34,484 | €167,393 | +€132,909 | +385.4% |
| Amounts payable after more than one year | 17 | - | €130,942 | +€130,942 | |
| Financial debts | 170/4 | - | €130,942 | +€130,942 | |
| Amounts payable within one year | 42/48 | €34,484 | €35,426 | +€942 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | - | €5,245 | +€5,245 | |
| Financial debts | 43 | - | €21 | +€21 | |
| Credit institutions | 430/8 | - | €21 | +€21 | |
| Trade debts | 44 | €1,169 | €959 | -€210 | -18.0% |
| Suppliers | 440/4 | €1,169 | €959 | -€210 | -18.0% |
| Taxes, remuneration and social security | 45 | €16,554 | €422 | -€16,132 | -97.5% |
| Taxes | 450/3 | €16,554 | €422 | -€16,132 | -97.5% |
| Other amounts payable | 47/48 | €16,761 | €28,779 | +€12,018 | +71.7% |
| Accrued charges and deferred income | 492/3 | - | €1,025 | +€1,025 | |
| Non-recurring operating income | 76A | €4,837 | €0 | -€4,837 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,088 | €5,630 | +€4,542 | +417.6% |
| Other operating charges | 640/8 | €1,259 | €1,744 | +€485 | +38.5% |
| Gross operating margin | 9900 | €48,421 | €1,446 | -€46,974 | -97.0% |
| Operating profit (loss) | 9901 | €46,074 | -€5,928 | -€52,002 | |
| Financial income | 75/76B | €21 | €0 | -€21 | -100.0% |
| Recurring financial income | 75 | €21 | €0 | -€21 | -100.0% |
| Financial charges | 65/66B | €755 | €4,881 | +€4,126 | +546.4% |
| Recurring financial charges | 65 | €755 | €4,881 | +€4,126 | +546.4% |
| Profit (loss) for the period before taxes | 9903 | €45,340 | -€10,808 | -€56,148 | |
| Income taxes | 67/77 | €14,182 | €0 | -€14,182 | -100.0% |
| Profit (loss) for the period | 9904 | €31,158 | -€10,808 | -€41,966 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,158 | -€10,808 | -€41,966 |
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 6 October 2026 via checked.be.