2bwatched: 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.
2bwatched
Largest movements
- Tangible fixed assets +€462,491
up €462,491 (+713.8%), from €64,797 to €527,288
of which Land and buildings: +€472,876
- Receivables within one year -€112,746
down €112,746 (-77.6%), from €145,270 to €32,524
of which Trade receivables: -€113,216
- Cash +€108,981
up €108,981 (+16155.4%), from €675 to €109,656
mainly Debts after one year (+€338,623) and Receivables within one year (+€112,746)
- Debts after one year +€338,623
up €338,623 (+1822.1%), from €18,584 to €357,207
- Short-term financial debts +€92,549
up €92,549 (+1150.9%), from €8,041 to €100,590
- Trade debts +€23,406
up €23,406 (+39.2%), from €59,724 to €83,130
- Current portion of long-term debt +€17,922
up €17,922 (+111.9%), from €16,011 to €33,933
- Profit (loss) carried forward -€12,540
new in 2025: -€12,540
- Financial charges +€11,090
up €11,090 (+420.2%), from €2,639 to €13,729
- Gross operating margin -€7,919
down €7,919 (-23.3%), from €34,038 to €26,118
- Depreciation +€7,010
up €7,010 (+48.1%), from €14,583 to €21,593
- Taxes -€3,602
down €3,602 (-98.2%), from €3,668 to €67
- Other operating charges +€3,031
up €3,031 (+484.6%), from €625 to €3,656
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 | €219,909 | €679,379 | +€459,470 | +208.9% |
| Fixed assets | 21/28 | €64,797 | €527,288 | +€462,491 | +713.8% |
| Tangible fixed assets | 22/27 | €64,797 | €527,288 | +€462,491 | +713.8% |
| Land and buildings | 22 | - | €472,876 | +€472,876 | |
| Plant, machinery and equipment | 23 | €27,690 | €17,597 | -€10,093 | -36.4% |
| Furniture and vehicles | 24 | €6,030 | €7,435 | +€1,404 | +23.3% |
| Other tangible fixed assets | 26 | €31,077 | €29,380 | -€1,697 | -5.5% |
| Current assets | 29/58 | €155,112 | €152,091 | -€3,021 | -1.9% |
| Stocks and contracts in progress | 3 | €5,597 | €6,722 | +€1,125 | +20.1% |
| Stocks | 30/36 | €5,597 | €6,722 | +€1,125 | +20.1% |
| Amounts receivable within one year | 40/41 | €145,270 | €32,524 | -€112,746 | -77.6% |
| Trade receivables | 40 | €142,736 | €29,520 | -€113,216 | -79.3% |
| Other amounts receivable | 41 | €2,535 | €3,004 | +€469 | +18.5% |
| Cash at bank and in hand | 54/58 | €675 | €109,656 | +€108,981 | +16155.4% |
| Deferred charges and accrued income | 490/1 | €3,571 | €3,190 | -€381 | -10.7% |
| Total equity and liabilities | 10/49 | €219,909 | €679,379 | +€459,470 | +208.9% |
| Equity | 10/15 | €101,339 | €88,800 | -€12,540 | -12.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €82,739 | €82,739 | = | 0.0% |
| Distributable reserves | 133 | €82,739 | €82,739 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€12,540 | -€12,540 | |
| Amounts payable | 17/49 | €118,570 | €590,580 | +€472,010 | +398.1% |
| Amounts payable after more than one year | 17 | €18,584 | €357,207 | +€338,623 | +1822.1% |
| Financial debts | 170/4 | €18,584 | €357,207 | +€338,623 | +1822.1% |
| Amounts payable within one year | 42/48 | €99,986 | €233,373 | +€133,387 | +133.4% |
| Current portion of amounts payable after more than one year | 42 | €16,011 | €33,933 | +€17,922 | +111.9% |
| Financial debts | 43 | €8,041 | €100,590 | +€92,549 | +1150.9% |
| Credit institutions | 430/8 | €8,041 | €100,590 | +€92,549 | +1150.9% |
| Trade debts | 44 | €59,724 | €83,130 | +€23,406 | +39.2% |
| Suppliers | 440/4 | €59,724 | €83,130 | +€23,406 | +39.2% |
| Taxes, remuneration and social security | 45 | €4,574 | €4,759 | +€185 | +4.0% |
| Taxes | 450/3 | €4,574 | €4,759 | +€185 | +4.0% |
| Other amounts payable | 47/48 | €11,636 | €10,961 | -€675 | -5.8% |
| Non-recurring operating income | 76A | €272 | €0 | -€272 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,583 | €21,593 | +€7,010 | +48.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€624 | €0 | +€624 | |
| Other operating charges | 640/8 | €625 | €3,656 | +€3,031 | +484.6% |
| Gross operating margin | 9900 | €34,038 | €26,118 | -€7,919 | -23.3% |
| Operating profit (loss) | 9901 | €19,453 | €869 | -€18,584 | -95.5% |
| Financial income | 75/76B | €0 | €387 | +€387 | |
| Recurring financial income | 75 | €0 | €387 | +€387 | |
| Financial charges | 65/66B | €2,639 | €13,729 | +€11,090 | +420.2% |
| Recurring financial charges | 65 | €2,639 | €13,729 | +€11,090 | +420.2% |
| Profit (loss) for the period before taxes | 9903 | €16,814 | -€12,473 | -€29,287 | |
| Income taxes | 67/77 | €3,668 | €67 | -€3,602 | -98.2% |
| Profit (loss) for the period | 9904 | €13,146 | -€12,540 | -€25,686 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,146 | -€12,540 | -€25,686 |
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 11 October 2026 via checked.be.