28 And Counting: 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.
28 And Counting
Largest movements
- Tangible fixed assets -€21,708
down €21,708 (-27.6%), from €78,631 to €56,924
of which Furniture and vehicles: -€19,582
- Receivables within one year +€17,196
up €17,196 (+123.0%), from €13,982 to €31,178
- Cash -€14,948
down €14,948 (-27.8%), from €53,797 to €38,849
mainly Contributions, distributions and other (-€45,747) and Receivables within one year (-€17,196)
- Tax, wage and social debts +€17,433
up €17,433 (+2751.4%), from €634 to €18,067
- Profit (loss) carried forward -€17,409
no longer reported in 2025 (was €17,409)
- Debts after one year -€13,025
down €13,025 (-46.9%), from €27,756 to €14,731
- Current portion of long-term debt -€6,629
down €6,629 (-33.7%), from €19,654 to €13,025
- Other debts -€4,199
down €4,199 (-5.5%), from €76,080 to €71,882
- Gross operating margin -€24,679
down €24,679 (-25.6%), from €96,435 to €71,756
- Taxes -€4,339
down €4,339 (-27.8%), from €15,634 to €11,294
- Depreciation +€1,152
up €1,152 (+4.5%), from €25,704 to €26,855
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 | €148,976 | €130,400 | -€18,576 | -12.5% |
| Fixed assets | 21/28 | €78,781 | €56,924 | -€21,858 | -27.7% |
| Tangible fixed assets | 22/27 | €78,631 | €56,924 | -€21,708 | -27.6% |
| Furniture and vehicles | 24 | €59,848 | €40,267 | -€19,582 | -32.7% |
| Other tangible fixed assets | 26 | €18,783 | €16,657 | -€2,126 | -11.3% |
| Financial fixed assets | 28 | €150 | - | -€150 | |
| Current assets | 29/58 | €70,195 | €73,476 | +€3,282 | +4.7% |
| Amounts receivable within one year | 40/41 | €13,982 | €31,178 | +€17,196 | +123.0% |
| Trade receivables | 40 | €13,982 | €31,178 | +€17,196 | +123.0% |
| Cash at bank and in hand | 54/58 | €53,797 | €38,849 | -€14,948 | -27.8% |
| Deferred charges and accrued income | 490/1 | €2,415 | €3,449 | +€1,034 | +42.8% |
| Total equity and liabilities | 10/49 | €148,976 | €130,400 | -€18,576 | -12.5% |
| Equity | 10/15 | €22,409 | €5,000 | -€17,409 | -77.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,409 | - | -€17,409 | |
| Amounts payable | 17/49 | €126,567 | €125,400 | -€1,167 | -0.9% |
| Amounts payable after more than one year | 17 | €27,756 | €14,731 | -€13,025 | -46.9% |
| Financial debts | 170/4 | €27,756 | €14,731 | -€13,025 | -46.9% |
| Amounts payable within one year | 42/48 | €97,965 | €108,352 | +€10,387 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €19,654 | €13,025 | -€6,629 | -33.7% |
| Trade debts | 44 | €1,598 | €5,378 | +€3,781 | +236.7% |
| Suppliers | 440/4 | €1,598 | €5,378 | +€3,781 | +236.7% |
| Taxes, remuneration and social security | 45 | €634 | €18,067 | +€17,433 | +2751.4% |
| Taxes | 450/3 | €634 | €18,067 | +€17,433 | +2751.4% |
| Other amounts payable | 47/48 | €76,080 | €71,882 | -€4,199 | -5.5% |
| Accrued charges and deferred income | 492/3 | €845 | €2,317 | +€1,472 | +174.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,704 | €26,855 | +€1,152 | +4.5% |
| Other operating charges | 640/8 | €1,177 | €1,049 | -€128 | -10.9% |
| Gross operating margin | 9900 | €96,435 | €71,756 | -€24,679 | -25.6% |
| Operating profit (loss) | 9901 | €69,554 | €43,852 | -€25,702 | -37.0% |
| Financial income | 75/76B | €9 | - | -€9 | |
| Recurring financial income | 75 | €9 | - | -€9 | |
| Financial charges | 65/66B | €3,605 | €4,219 | +€614 | +17.0% |
| Recurring financial charges | 65 | €3,605 | €4,219 | +€614 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €65,957 | €39,633 | -€26,325 | -39.9% |
| Income taxes | 67/77 | €15,634 | €11,294 | -€4,339 | -27.8% |
| Profit (loss) for the period | 9904 | €50,324 | €28,339 | -€21,985 | -43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €50,324 | €28,339 | -€21,985 | -43.7% |
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 29 September 2026 via checked.be.