3MO: 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.
3MO
Largest movements
- Tangible fixed assets -€672,453
down €672,453 (-30.9%), from €2.2m to €1.5m
- Receivables within one year +€546,306
up €546,306 (+413.2%), from €132,226 to €678,531
- Cash +€97,258
up €97,258 (+3295.6%), from €2,951 to €100,209
mainly Investment in fixed assets (net) (+€630,442) and Net result for the year (+€266,642)
- Deferred charges and accrued income -€36,354
down €36,354 (-95.2%), from €38,174 to €1,820
- Debts after one year -€282,200
down €282,200 (-32.8%), from €860,692 to €578,492
- Profit (loss) carried forward +€266,642
up €266,642 (+64.1%), from -€416,218 to -€149,576
- Current portion of long-term debt -€82,877
down €82,877 (-78.0%), from €106,265 to €23,387
- Other debts +€32,618
up €32,618 (+55.7%), from €58,594 to €91,212
- Gross operating margin +€310,353
up €310,353 (+905.7%), from €34,265 to €344,618
- Depreciation -€26,905
down €26,905 (-39.0%), from €68,915 to €42,010
- Other operating charges +€12,400
up €12,400 (+683.5%), from €1,814 to €14,214
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 | €2,351,085 | €2,285,843 | -€65,242 | -2.8% |
| Fixed assets | 21/28 | €2,177,734 | €1,505,282 | -€672,453 | -30.9% |
| Tangible fixed assets | 22/27 | €2,177,734 | €1,505,282 | -€672,453 | -30.9% |
| Land and buildings | 22 | €2,177,734 | €1,505,282 | -€672,453 | -30.9% |
| Current assets | 29/58 | €173,350 | €780,561 | +€607,210 | +350.3% |
| Amounts receivable within one year | 40/41 | €132,226 | €678,531 | +€546,306 | +413.2% |
| Other amounts receivable | 41 | €132,226 | €678,531 | +€546,306 | +413.2% |
| Cash at bank and in hand | 54/58 | €2,951 | €100,209 | +€97,258 | +3295.6% |
| Deferred charges and accrued income | 490/1 | €38,174 | €1,820 | -€36,354 | -95.2% |
| Total equity and liabilities | 10/49 | €2,351,085 | €2,285,843 | -€65,242 | -2.8% |
| Equity | 10/15 | €1,322,382 | €1,588,674 | +€266,293 | +20.1% |
| Contributions | 10/11 | €1,555,937 | €1,555,588 | -€349 | 0.0% |
| Reserves | 13 | €182,663 | €182,663 | = | 0.0% |
| Distributable reserves | 133 | €182,663 | €182,663 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€416,218 | -€149,576 | +€266,642 | +64.1% |
| Amounts payable | 17/49 | €1,028,703 | €697,168 | -€331,535 | -32.2% |
| Amounts payable after more than one year | 17 | €860,692 | €578,492 | -€282,200 | -32.8% |
| Financial debts | 170/4 | €860,692 | €578,492 | -€282,200 | -32.8% |
| Amounts payable within one year | 42/48 | €167,242 | €116,408 | -€50,835 | -30.4% |
| Current portion of amounts payable after more than one year | 42 | €106,265 | €23,387 | -€82,877 | -78.0% |
| Trade debts | 44 | €2,384 | €1,808 | -€576 | -24.1% |
| Suppliers | 440/4 | €2,384 | €1,808 | -€576 | -24.1% |
| Other amounts payable | 47/48 | €58,594 | €91,212 | +€32,618 | +55.7% |
| Accrued charges and deferred income | 492/3 | €769 | €2,269 | +€1,500 | +195.1% |
| Non-recurring operating income | 76A | - | €409,558 | +€409,558 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,915 | €42,010 | -€26,905 | -39.0% |
| Other operating charges | 640/8 | €1,814 | €14,214 | +€12,400 | +683.5% |
| Gross operating margin | 9900 | €34,265 | €344,618 | +€310,353 | +905.7% |
| Operating profit (loss) | 9901 | -€36,464 | €288,393 | +€324,857 | |
| Financial charges | 65/66B | €24,975 | €21,752 | -€3,223 | -12.9% |
| Recurring financial charges | 65 | €24,975 | €21,752 | -€3,223 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | -€61,439 | €266,642 | +€328,080 | |
| Profit (loss) for the period | 9904 | -€61,439 | €266,642 | +€328,080 | |
| Profit (loss) for the period to be appropriated | 9905 | -€61,439 | €266,642 | +€328,080 |
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 1 October 2026 via checked.be.