A.B.II: 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.
What changed
A.B.II
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€51,178
2024 · -€122,860+€174,037
Equity
€364,908
2024 · €313,731+€51,178
Cash
€49,707
2024 · €21,626+€28,081
Balance sheet total
€9.8m
2024 · €10.5m-€770,670
Largest movements
Assets
- Stocks and contracts -€1.0m
down €1.0m (-24.0%), from €4.4m to €3.3m
- Tangible fixed assets +€736,309
up €736,309 (+13.1%), from €5.6m to €6.4m
- Deferred charges and accrued income -€483,947
down €483,947 (-98.2%), from €492,812 to €8,865
Equity and liabilities
- Other debts -€506,480
down €506,480 (-12.1%), from €4.2m to €3.7m
- Short-term financial debts -€234,765
down €234,765 (-7.7%), from €3.1m to €2.8m
Income statement
- Other operating charges -€223,562
down €223,562 (-78.4%), from €285,188 to €61,626
- Depreciation +€84,043
up €84,043 (+39.7%), from €211,663 to €295,706
- Financial charges -€34,275
down €34,275 (-13.5%), from €253,028 to €218,753
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.
Result 2024
-€122,860
Gross operating margin
+€234
Depreciation
-€84,043
Other operating charges
+€223,562
Financial charges
+€34,275
Taxes
+€9
Result 2025
€51,178
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.
From operations
+€1.3m
Investment
-€1.0m
Financing
-€225,425
Cash 2024
€21,626
From operations (derived)
+€1.3m
Net result for the year
+€51,178
Depreciation
+€295,706
Smaller working-capital items
-€3,563
Stocks and contracts
+€1.0m
Receivables within one year
+€6,113
Deferred charges and accrued income
+€483,947
Trade debts
-€91,023
Other debts
-€506,480
Accrued charges and deferred income
+€3,667
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€1.0m
Financing
-€225,425
Debts after one year
-€16,613
Current portion of long-term debt
+€25,954
Short-term financial debts
-€234,765
Cash 2025
€49,707
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,537,411 | €9,766,741 | -€770,670 | -7.3% |
| Fixed assets | 21/28 | €5,629,556 | €6,365,865 | +€736,309 | +13.1% |
| Tangible fixed assets | 22/27 | €5,629,556 | €6,365,865 | +€736,309 | +13.1% |
| Land and buildings | 22 | €5,629,556 | €6,365,865 | +€736,309 | +13.1% |
| Current assets | 29/58 | €4,907,855 | €3,400,876 | -€1.5m | -30.7% |
| Amounts receivable after more than one year | 29 | €996 | €1,972 | +€976 | +98.0% |
| Other amounts receivable | 291 | €996 | €1,972 | +€976 | +98.0% |
| Stocks and contracts in progress | 3 | €4,362,865 | €3,316,889 | -€1.0m | -24.0% |
| Stocks | 30/36 | €4,362,865 | €3,316,889 | -€1.0m | -24.0% |
| Amounts receivable within one year | 40/41 | €29,557 | €23,443 | -€6,113 | -20.7% |
| Trade receivables | 40 | €29,557 | €23,443 | -€6,113 | -20.7% |
| Cash at bank and in hand | 54/58 | €21,626 | €49,707 | +€28,081 | +129.9% |
| Deferred charges and accrued income | 490/1 | €492,812 | €8,865 | -€483,947 | -98.2% |
| Total equity and liabilities | 10/49 | €10,537,411 | €9,766,741 | -€770,670 | -7.3% |
| Equity | 10/15 | €313,731 | €364,908 | +€51,178 | +16.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €90,531 | €84,505 | -€6,026 | -6.7% |
| Reserves | 13 | €223,070 | €221,334 | -€1,737 | -0.8% |
| Tax-exempt reserves | 132 | €88,376 | €80,613 | -€7,763 | -8.8% |
| Distributable reserves | 133 | €134,695 | €140,720 | +€6,026 | +4.5% |
| Profit (loss) carried forward | 14 | -€61,370 | -€2,430 | +€58,940 | +96.0% |
| Provisions and deferred taxes | 16 | €29,459 | €26,871 | -€2,588 | -8.8% |
| Deferred taxes | 168 | €29,459 | €26,871 | -€2,588 | -8.8% |
| Amounts payable | 17/49 | €10,194,222 | €9,374,962 | -€819,261 | -8.0% |
| Amounts payable after more than one year | 17 | €2,467,750 | €2,451,136 | -€16,613 | -0.7% |
| Financial debts | 170/4 | €2,467,750 | €2,451,136 | -€16,613 | -0.7% |
| Amounts payable within one year | 42/48 | €7,724,760 | €6,918,445 | -€806,314 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €323,415 | €349,369 | +€25,954 | +8.0% |
| Financial debts | 43 | €3,059,621 | €2,824,856 | -€234,765 | -7.7% |
| Credit institutions | 430/8 | €3,059,621 | €2,824,856 | -€234,765 | -7.7% |
| Trade debts | 44 | €164,121 | €73,098 | -€91,023 | -55.5% |
| Suppliers | 440/4 | €164,121 | €73,098 | -€91,023 | -55.5% |
| Other amounts payable | 47/48 | €4,177,603 | €3,671,122 | -€506,480 | -12.1% |
| Accrued charges and deferred income | 492/3 | €1,713 | €5,380 | +€3,667 | +214.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €211,663 | €295,706 | +€84,043 | +39.7% |
| Other operating charges | 640/8 | €285,188 | €61,626 | -€223,562 | -78.4% |
| Gross operating margin | 9900 | €624,441 | €624,675 | +€234 | 0.0% |
| Operating profit (loss) | 9901 | €127,590 | €267,343 | +€139,754 | +109.5% |
| Financial charges | 65/66B | €253,028 | €218,753 | -€34,275 | -13.5% |
| Recurring financial charges | 65 | €253,028 | €218,753 | -€34,275 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | -€125,438 | €48,590 | +€174,028 | |
| Transfer from deferred taxes | 780 | €2,588 | €2,588 | = | 0.0% |
| Income taxes | 67/77 | €9 | - | -€9 | |
| Profit (loss) for the period | 9904 | -€122,860 | €51,178 | +€174,037 | |
| Transfer from tax-exempt reserves | 789 | €7,763 | €7,763 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€115,097 | €58,940 | +€174,037 |
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 10 October 2026 via checked.be.