A10: 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.
A10
Largest movements
- Tangible fixed assets +€6.2m
up €6.2m (+129.5%), from €4.8m to €11.0m
of which Land and buildings: +€6.2m
- Other debts +€7.7m
up €7.7m (+455.9%), from €1.7m to €9.4m
- Trade debts -€1.2m
down €1.2m (-80.1%), from €1.5m to €303,305
- Profit (loss) carried forward -€365,477
down €365,477 (-58.8%), from -€621,134 to -€986,612
- Accrued charges and deferred income +€130,279
up €130,279 (+70.6%), from €184,508 to €314,788
- Turnover +€327,188
up €327,188 (+176.1%), from €185,804 to €512,992
- Services and other goods -€116,787
down €116,787 (-28.0%), from €416,467 to €299,680
- Financial charges +€40,396
up €40,396 (+39.1%), from €103,287 to €143,683
- Depreciation +€31,917
up €31,917 (+12.0%), from €264,972 to €296,889
- Other operating charges -€30,168
down €30,168 (-16.7%), from €181,150 to €150,982
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 | €4,878,546 | €11,211,337 | +€6.3m | +129.8% |
| Fixed assets | 21/28 | €4,776,889 | €10,964,712 | +€6.2m | +129.5% |
| Tangible fixed assets | 22/27 | €4,776,889 | €10,964,712 | +€6.2m | +129.5% |
| Land and buildings | 22 | €4,749,284 | €10,904,640 | +€6.2m | +129.6% |
| Plant, machinery and equipment | 23 | €27,604 | €60,072 | +€32,468 | +117.6% |
| Current assets | 29/58 | €101,657 | €246,624 | +€144,967 | +142.6% |
| Amounts receivable within one year | 40/41 | €99,696 | €180,342 | +€80,646 | +80.9% |
| Trade receivables | 40 | €93,297 | €180,342 | +€87,045 | +93.3% |
| Other amounts receivable | 41 | €6,399 | - | -€6,399 | |
| Cash at bank and in hand | 54/58 | €1,839 | €66,160 | +€64,321 | +3497.5% |
| Deferred charges and accrued income | 490/1 | €122 | €122 | = | 0.0% |
| Total equity and liabilities | 10/49 | €4,878,546 | €11,211,337 | +€6.3m | +129.8% |
| Equity | 10/15 | €215,717 | -€149,760 | -€365,477 | |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Capital | 10 | €800,000 | €800,000 | = | 0.0% |
| Issued capital | 100 | €800,000 | €800,000 | = | 0.0% |
| Reserves | 13 | €36,852 | €36,852 | = | 0.0% |
| Non-distributable reserves | 130/1 | €36,852 | €36,852 | = | 0.0% |
| Reserves not available under the articles | 1311 | €36,852 | €36,852 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€621,134 | -€986,612 | -€365,477 | -58.8% |
| Amounts payable | 17/49 | €4,662,829 | €11,361,097 | +€6.7m | +143.7% |
| Amounts payable after more than one year | 17 | €1,260,000 | €1,280,910 | +€20,910 | +1.7% |
| Financial debts | 170/4 | €1,260,000 | - | -€1.3m | |
| Other loans | 174 | €1,260,000 | - | -€1.3m | |
| Other amounts payable | 178/9 | - | €1,280,910 | +€1.3m | |
| Amounts payable within one year | 42/48 | €3,218,320 | €9,765,399 | +€6.5m | +203.4% |
| Trade debts | 44 | €1,520,820 | €303,305 | -€1.2m | -80.1% |
| Suppliers | 440/4 | €1,520,820 | €303,305 | -€1.2m | -80.1% |
| Taxes, remuneration and social security | 45 | - | €26,094 | +€26,094 | |
| Taxes | 450/3 | - | €26,094 | +€26,094 | |
| Other amounts payable | 47/48 | €1,697,500 | €9,436,000 | +€7.7m | +455.9% |
| Accrued charges and deferred income | 492/3 | €184,508 | €314,788 | +€130,279 | +70.6% |
| Operating income | 70/76A | €220,656 | €525,758 | +€305,102 | +138.3% |
| Turnover | 70 | €185,804 | €512,992 | +€327,188 | +176.1% |
| Other operating income | 74 | €34,852 | €12,766 | -€22,086 | -63.4% |
| Operating charges | 60/66A | €862,590 | €747,552 | -€115,038 | -13.3% |
| Services and other goods | 61 | €416,467 | €299,680 | -€116,787 | -28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €264,972 | €296,889 | +€31,917 | +12.0% |
| Other operating charges | 640/8 | €181,150 | €150,982 | -€30,168 | -16.7% |
| Operating profit (loss) | 9901 | -€641,934 | -€221,794 | +€420,140 | +65.4% |
| Financial income | 75/76B | €8,374 | - | -€8,374 | |
| Recurring financial income | 75 | €8,374 | - | -€8,374 | |
| Other financial income | 752/9 | €8,374 | - | -€8,374 | |
| Financial charges | 65/66B | €103,287 | €143,683 | +€40,396 | +39.1% |
| Recurring financial charges | 65 | €103,287 | €143,683 | +€40,396 | +39.1% |
| Debt charges | 650 | €103,287 | €143,133 | +€39,846 | +38.6% |
| Other financial charges | 652/9 | - | €551 | +€551 | |
| Profit (loss) for the period before taxes | 9903 | -€736,847 | -€365,477 | +€371,370 | +50.4% |
| Profit (loss) for the period | 9904 | -€736,847 | -€365,477 | +€371,370 | +50.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€736,847 | -€365,477 | +€371,370 | +50.4% |
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 7 October 2026 via checked.be.