A&A: 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.
A&A
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€5,529
down €5,529 (-76.8%), from €7,199 to €1,670
- Other operating charges -€673
down €673 (-7.1%), from €9,430 to €8,757
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 | €1,586,810 | €1,579,735 | -€7,076 | -0.4% |
| Fixed assets | 21/28 | €1,535,347 | €1,535,102 | -€246 | 0.0% |
| Tangible fixed assets | 22/27 | €1,535,347 | €1,535,102 | -€246 | 0.0% |
| Land and buildings | 22 | €1,535,102 | €1,535,102 | = | 0.0% |
| Plant, machinery and equipment | 23 | €246 | €0 | -€246 | -100.0% |
| Current assets | 29/58 | €51,463 | €44,633 | -€6,830 | -13.3% |
| Amounts receivable within one year | 40/41 | €1,637 | €1,800 | +€163 | +9.9% |
| Trade receivables | 40 | €721 | €1,025 | +€304 | +42.2% |
| Other amounts receivable | 41 | €916 | €775 | -€141 | -15.4% |
| Cash at bank and in hand | 54/58 | €49,826 | €42,833 | -€6,993 | -14.0% |
| Total equity and liabilities | 10/49 | €1,586,810 | €1,579,735 | -€7,076 | -0.4% |
| Equity | 10/15 | €1,580,240 | €1,572,865 | -€7,375 | -0.5% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,449,028 | €1,449,028 | = | 0.0% |
| Reserves | 13 | €24,299 | €24,299 | = | 0.0% |
| Non-distributable reserves | 130/1 | €24,299 | €24,299 | = | 0.0% |
| Legal reserve | 130 | €24,299 | €24,299 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€193,087 | -€200,461 | -€7,375 | -3.8% |
| Amounts payable | 17/49 | €6,570 | €6,869 | +€299 | +4.6% |
| Amounts payable within one year | 42/48 | €6,570 | €6,869 | +€299 | +4.6% |
| Trade debts | 44 | €0 | €611 | +€611 | |
| Suppliers | 440/4 | €0 | €611 | +€611 | |
| Other amounts payable | 47/48 | €6,570 | €6,258 | -€312 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €303 | €246 | -€57 | -18.9% |
| Other operating charges | 640/8 | €9,430 | €8,757 | -€673 | -7.1% |
| Gross operating margin | 9900 | €7,199 | €1,670 | -€5,529 | -76.8% |
| Operating profit (loss) | 9901 | -€2,534 | -€7,332 | -€4,799 | -189.4% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,579 | -€7,374 | -€4,795 | -186.0% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€2,579 | -€7,375 | -€4,796 | -186.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,579 | -€7,375 | -€4,796 | -186.0% |
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 8 October 2026 via checked.be.