AC23: 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.
AC23
Largest movements
- Tangible fixed assets -€329,242
down €329,242 (-7.2%), from €4.5m to €4.2m
of which Land and buildings: -€334,637
- Cash +€178,587
up €178,587 (+318.0%), from €56,161 to €234,748
mainly Net result for the year (+€178,798) and Depreciation (+€173,024)
- Debts after one year -€387,779
down €387,779 (-11.8%), from €3.3m to €2.9m
- Profit (loss) carried forward +€259,675
up €259,675, from -€227,182 to €32,493
- Other debts -€49,852
down €49,852 (-3.9%), from €1.3m to €1.2m
- Gross operating margin +€276,439
up €276,439 (+130.6%), from €211,670 to €488,109
- Provisions +€71,767
no longer reported in 2025 (was -€71,767)
- Financial charges -€33,011
down €33,011 (-26.0%), from €126,790 to €93,779
- Other operating charges +€23,933
up €23,933 (+435.1%), from €5,500 to €29,433
- Depreciation +€15,616
up €15,616 (+9.9%), from €157,408 to €173,024
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 | €4,614,632 | €4,449,890 | -€164,742 | -3.6% |
| Fixed assets | 21/28 | €4,544,384 | €4,215,142 | -€329,242 | -7.2% |
| Tangible fixed assets | 22/27 | €4,544,384 | €4,215,142 | -€329,242 | -7.2% |
| Land and buildings | 22 | €4,537,709 | €4,203,072 | -€334,637 | -7.4% |
| Plant, machinery and equipment | 23 | €1,199 | - | -€1,199 | |
| Furniture and vehicles | 24 | €5,476 | €12,070 | +€6,594 | +120.4% |
| Current assets | 29/58 | €70,248 | €234,748 | +€164,500 | +234.2% |
| Amounts receivable within one year | 40/41 | €14,087 | - | -€14,087 | |
| Other amounts receivable | 41 | €14,087 | - | -€14,087 | |
| Cash at bank and in hand | 54/58 | €56,161 | €234,748 | +€178,587 | +318.0% |
| Total equity and liabilities | 10/49 | €4,614,632 | €4,449,890 | -€164,742 | -3.6% |
| Equity | 10/15 | -€127,182 | €132,493 | +€259,675 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€227,182 | €32,493 | +€259,675 | |
| Amounts payable | 17/49 | €4,741,814 | €4,317,397 | -€424,417 | -9.0% |
| Amounts payable after more than one year | 17 | €3,292,448 | €2,904,669 | -€387,779 | -11.8% |
| Financial debts | 170/4 | €3,292,448 | €2,904,669 | -€387,779 | -11.8% |
| Amounts payable within one year | 42/48 | €1,449,366 | €1,412,728 | -€36,638 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €159,955 | €162,805 | +€2,850 | +1.8% |
| Trade debts | 44 | €5,371 | €2,660 | -€2,711 | -50.5% |
| Suppliers | 440/4 | €5,371 | €2,660 | -€2,711 | -50.5% |
| Taxes, remuneration and social security | 45 | - | €13,075 | +€13,075 | |
| Taxes | 450/3 | - | €13,075 | +€13,075 | |
| Other amounts payable | 47/48 | €1,284,040 | €1,234,188 | -€49,852 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €157,408 | €173,024 | +€15,616 | +9.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€71,767 | - | +€71,767 | |
| Other operating charges | 640/8 | €5,500 | €29,433 | +€23,933 | +435.1% |
| Gross operating margin | 9900 | €211,670 | €488,109 | +€276,439 | +130.6% |
| Operating profit (loss) | 9901 | €120,529 | €285,652 | +€165,123 | +137.0% |
| Financial charges | 65/66B | €126,790 | €93,779 | -€33,011 | -26.0% |
| Recurring financial charges | 65 | €126,790 | €93,779 | -€33,011 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,261 | €191,873 | +€198,134 | |
| Income taxes | 67/77 | - | €13,075 | +€13,075 | |
| Profit (loss) for the period | 9904 | -€6,261 | €178,798 | +€185,059 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,261 | €178,798 | +€185,059 |
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 3 October 2026 via checked.be.