A. J.: 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. J.
Largest movements
- Tangible fixed assets -€19,256
down €19,256 (-2.6%), from €732,224 to €712,968
of which Land and buildings: -€25,022
- Profit (loss) carried forward -€16,252
down €16,252, from €5,312 to -€10,940
- Depreciation +€4,721
up €4,721 (+14.8%), from €31,984 to €36,705
- Gross operating margin -€3,255
down €3,255 (-11.8%), from €27,562 to €24,306
- Financial income -€2,786
down €2,786 (-49.9%), from €5,578 to €2,793
- Taxes -€2,357
down €2,357, from €1,595 to -€762
- Other operating charges +€425
up €425 (+7.2%), from €5,868 to €6,293
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 | €1,035,719 | €1,013,294 | -€22,425 | -2.2% |
| Fixed assets | 21/28 | €732,224 | €712,968 | -€19,256 | -2.6% |
| Tangible fixed assets | 22/27 | €732,224 | €712,968 | -€19,256 | -2.6% |
| Land and buildings | 22 | €705,965 | €680,942 | -€25,022 | -3.5% |
| Plant, machinery and equipment | 23 | €26,259 | €19,270 | -€6,989 | -26.6% |
| Furniture and vehicles | 24 | - | €12,756 | +€12,756 | |
| Current assets | 29/58 | €303,495 | €300,326 | -€3,169 | -1.0% |
| Amounts receivable within one year | 40/41 | - | €102 | +€102 | |
| Trade receivables | 40 | - | €102 | +€102 | |
| Cash at bank and in hand | 54/58 | €302,749 | €299,079 | -€3,670 | -1.2% |
| Deferred charges and accrued income | 490/1 | €746 | €1,145 | +€399 | +53.5% |
| Total equity and liabilities | 10/49 | €1,035,719 | €1,013,294 | -€22,425 | -2.2% |
| Equity | 10/15 | €666,800 | €650,548 | -€16,252 | -2.4% |
| Contributions | 10/11 | €652,780 | €652,780 | = | 0.0% |
| Outside capital | 11 | €652,780 | €652,780 | = | 0.0% |
| Other | 1109/19 | €652,780 | €652,780 | = | 0.0% |
| Reserves | 13 | €8,708 | €8,708 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,708 | €8,708 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,708 | €8,708 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,312 | -€10,940 | -€16,252 | |
| Amounts payable | 17/49 | €368,919 | €362,746 | -€6,173 | -1.7% |
| Amounts payable after more than one year | 17 | €32,452 | €26,326 | -€6,126 | -18.9% |
| Financial debts | 170/4 | €32,452 | €26,326 | -€6,126 | -18.9% |
| Amounts payable within one year | 42/48 | €336,466 | €335,535 | -€932 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €5,954 | €6,126 | +€172 | +2.9% |
| Trade debts | 44 | €4,701 | - | -€4,701 | |
| Suppliers | 440/4 | €4,701 | - | -€4,701 | |
| Other amounts payable | 47/48 | €325,811 | €329,409 | +€3,598 | +1.1% |
| Accrued charges and deferred income | 492/3 | - | €885 | +€885 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,984 | €36,705 | +€4,721 | +14.8% |
| Other operating charges | 640/8 | €5,868 | €6,293 | +€425 | +7.2% |
| Gross operating margin | 9900 | €27,562 | €24,306 | -€3,255 | -11.8% |
| Operating profit (loss) | 9901 | -€10,290 | -€18,692 | -€8,402 | -81.7% |
| Financial income | 75/76B | €5,578 | €2,793 | -€2,786 | -49.9% |
| Recurring financial income | 75 | €5,578 | €2,793 | -€2,786 | -49.9% |
| Financial charges | 65/66B | €1,537 | €1,115 | -€422 | -27.4% |
| Recurring financial charges | 65 | €1,537 | €1,115 | -€422 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,248 | -€17,014 | -€10,766 | -172.3% |
| Income taxes | 67/77 | €1,595 | -€762 | -€2,357 | |
| Profit (loss) for the period | 9904 | -€7,843 | -€16,252 | -€8,409 | -107.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,843 | -€16,252 | -€8,409 | -107.2% |
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 4 October 2026 via checked.be.