A & A: 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.
A & A
Largest movements
- Tangible fixed assets +€61,052
up €61,052 (+73.4%), from €83,213 to €144,265
of which Plant, machinery and equipment: +€67,860
- Cash +€22,166
up €22,166 (+129%), from €17,228 to €39,394
mainly Net result for the year (+€44,182) and Debts after one year (+€35,272)
- Receivables within one year +€6,102
up €6,102 (+117%), from €5,204 to €11,306
of which Other amounts receivable: +€5,754
- Reserves +€43,441
up €43,441 (+84.2%), from €51,605 to €95,046
- Debts after one year +€35,272
new in 2025: €35,272
- Current portion of long-term debt +€8,848
new in 2025: €8,848
- Other debts +€3,800
up €3,800, from €0 to €3,800
- Profit (loss) carried forward -€3,059
down €3,059 (-100%), from €3,059 to €0
- Staff costs +€18,838
up €18,838 (+91.8%), from €20,516 to €39,354
- Gross operating margin +€11,928
up €11,928 (+10.4%), from €115,027 to €126,955
- Depreciation +€7,768
up €7,768 (+68.5%), from €11,343 to €19,111
- Taxes -€7,051
down €7,051 (-31.9%), from €22,122 to €15,071
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.
Derived cash bridge
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 | €105,644 | €196,514 | +€90,870 | +86.0% |
| Fixed assets | 21/28 | €83,213 | €144,265 | +€61,052 | +73.4% |
| Tangible fixed assets | 22/27 | €83,213 | €144,265 | +€61,052 | +73.4% |
| Land and buildings | 22 | €61,226 | €56,214 | -€5,012 | -8.2% |
| Plant, machinery and equipment | 23 | €11,689 | €79,549 | +€67,860 | +581% |
| Furniture and vehicles | 24 | €10,298 | €8,502 | -€1,796 | -17.4% |
| Current assets | 29/58 | €22,431 | €52,249 | +€29,818 | +133% |
| Amounts receivable within one year | 40/41 | €5,204 | €11,306 | +€6,102 | +117% |
| Trade receivables | 40 | €0 | €348 | +€348 | |
| Other amounts receivable | 41 | €5,204 | €10,958 | +€5,754 | +111% |
| Cash at bank and in hand | 54/58 | €17,228 | €39,394 | +€22,166 | +129% |
| Deferred charges and accrued income | 490/1 | €0 | €1,550 | +€1,550 | |
| Total equity and liabilities | 10/49 | €105,644 | €196,514 | +€90,870 | +86.0% |
| Equity | 10/15 | €73,264 | €113,646 | +€40,382 | +55.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51,605 | €95,046 | +€43,441 | +84.2% |
| Distributable reserves | 133 | €51,605 | €95,046 | +€43,441 | +84.2% |
| Profit (loss) carried forward | 14 | €3,059 | €0 | -€3,059 | -100% |
| Amounts payable | 17/49 | €32,380 | €82,868 | +€50,488 | +156% |
| Amounts payable after more than one year | 17 | - | €35,272 | +€35,272 | |
| Financial debts | 170/4 | - | €35,272 | +€35,272 | |
| Amounts payable within one year | 42/48 | €32,380 | €47,597 | +€15,217 | +47.0% |
| Current portion of amounts payable after more than one year | 42 | - | €8,848 | +€8,848 | |
| Trade debts | 44 | €8,006 | €9,678 | +€1,672 | +20.9% |
| Suppliers | 440/4 | €8,006 | €9,678 | +€1,672 | +20.9% |
| Taxes, remuneration and social security | 45 | €24,374 | €25,270 | +€896 | +3.7% |
| Taxes | 450/3 | €23,255 | €22,122 | -€1,133 | -4.9% |
| Remuneration and social security | 454/9 | €1,119 | €3,148 | +€2,029 | +181% |
| Other amounts payable | 47/48 | €0 | €3,800 | +€3,800 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €20,516 | €39,354 | +€18,838 | +91.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,343 | €19,111 | +€7,768 | +68.5% |
| Other operating charges | 640/8 | €164 | €293 | +€129 | +79.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €115,027 | €126,955 | +€11,928 | +10.4% |
| Operating profit (loss) | 9901 | €83,004 | €68,196 | -€14,808 | -17.8% |
| Financial income | 75/76B | €154 | €0 | -€154 | -99.8% |
| Recurring financial income | 75 | €154 | €0 | -€154 | -99.8% |
| Financial charges | 65/66B | €9,431 | €8,943 | -€488 | -5.2% |
| Recurring financial charges | 65 | €9,431 | €8,943 | -€488 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €73,727 | €59,253 | -€14,474 | -19.6% |
| Income taxes | 67/77 | €22,122 | €15,071 | -€7,051 | -31.9% |
| Profit (loss) for the period | 9904 | €51,605 | €44,182 | -€7,424 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,605 | €44,182 | -€7,424 | -14.4% |
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 16 October 2026 via checked.be.