ACTION: 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.
ACTION
Largest movements
- Cash -€17,445
down €17,445 (-37.0%), from €47,160 to €29,714
mainly Debts after one year (-€15,750) and Net result for the year (-€9,723)
- Tangible fixed assets -€15,832
down €15,832 (-23.6%), from €67,161 to €51,329
of which Land and buildings: -€9,878
- Deferred charges and accrued income -€1,783
down €1,783 (-38.2%), from €4,672 to €2,889
- Debts after one year -€15,750
down €15,750 (-85.4%), from €18,438 to €2,687
- Profit (loss) carried forward -€9,723
down €9,723 (-17.4%), from -€55,927 to -€65,650
- Other debts -€6,420
down €6,420 (-87.6%), from €7,330 to €909
- Trade debts -€3,648
down €3,648 (-68.7%), from €5,312 to €1,664
- Accrued charges and deferred income +€1,526
new in 2025: €1,526
- Gross operating margin +€33,160
up €33,160, from -€24,132 to €9,028
- Other operating charges -€895
down €895 (-30.1%), from €2,976 to €2,081
- Financial charges -€635
down €635 (-33.0%), from €1,922 to €1,287
- Depreciation -€494
down €494 (-3.0%), from €16,325 to €15,832
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 | €152,296 | €117,868 | -€34,428 | -22.6% |
| Fixed assets | 21/28 | €67,161 | €51,329 | -€15,832 | -23.6% |
| Tangible fixed assets | 22/27 | €67,161 | €51,329 | -€15,832 | -23.6% |
| Land and buildings | 22 | €39,565 | €29,687 | -€9,878 | -25.0% |
| Plant, machinery and equipment | 23 | €24,927 | €19,921 | -€5,007 | -20.1% |
| Furniture and vehicles | 24 | €2,668 | €1,722 | -€946 | -35.5% |
| Current assets | 29/58 | €85,135 | €66,539 | -€18,596 | -21.8% |
| Amounts receivable within one year | 40/41 | - | €388 | +€388 | |
| Trade receivables | 40 | - | €315 | +€315 | |
| Other amounts receivable | 41 | - | €73 | +€73 | |
| Current investments | 50/53 | €33,304 | €33,548 | +€244 | +0.7% |
| Cash at bank and in hand | 54/58 | €47,160 | €29,714 | -€17,445 | -37.0% |
| Deferred charges and accrued income | 490/1 | €4,672 | €2,889 | -€1,783 | -38.2% |
| Total equity and liabilities | 10/49 | €152,296 | €117,868 | -€34,428 | -22.6% |
| Equity | 10/15 | €103,256 | €93,534 | -€9,723 | -9.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €140,584 | €140,584 | = | 0.0% |
| Distributable reserves | 133 | €140,584 | €140,584 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,927 | -€65,650 | -€9,723 | -17.4% |
| Amounts payable | 17/49 | €49,039 | €24,334 | -€24,705 | -50.4% |
| Amounts payable after more than one year | 17 | €18,438 | €2,687 | -€15,750 | -85.4% |
| Financial debts | 170/4 | €18,438 | €2,687 | -€15,750 | -85.4% |
| Amounts payable within one year | 42/48 | €30,602 | €20,121 | -€10,481 | -34.2% |
| Current portion of amounts payable after more than one year | 42 | €15,127 | €15,750 | +€623 | +4.1% |
| Trade debts | 44 | €5,312 | €1,664 | -€3,648 | -68.7% |
| Suppliers | 440/4 | €5,312 | €1,664 | -€3,648 | -68.7% |
| Taxes, remuneration and social security | 45 | €2,833 | €1,798 | -€1,035 | -36.5% |
| Taxes | 450/3 | €2,833 | €1,798 | -€1,035 | -36.5% |
| Other amounts payable | 47/48 | €7,330 | €909 | -€6,420 | -87.6% |
| Accrued charges and deferred income | 492/3 | - | €1,526 | +€1,526 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,325 | €15,832 | -€494 | -3.0% |
| Other operating charges | 640/8 | €2,976 | €2,081 | -€895 | -30.1% |
| Gross operating margin | 9900 | -€24,132 | €9,028 | +€33,160 | |
| Operating profit (loss) | 9901 | -€43,433 | -€8,885 | +€34,548 | +79.5% |
| Financial income | 75/76B | €675 | €581 | -€94 | -13.9% |
| Recurring financial income | 75 | €675 | €581 | -€94 | -13.9% |
| Financial charges | 65/66B | €1,922 | €1,287 | -€635 | -33.0% |
| Recurring financial charges | 65 | €1,922 | €1,287 | -€635 | -33.0% |
| Profit (loss) for the period before taxes | 9903 | -€44,680 | -€9,591 | +€35,089 | +78.5% |
| Income taxes | 67/77 | €140 | €132 | -€8 | -5.4% |
| Profit (loss) for the period | 9904 | -€44,820 | -€9,723 | +€35,097 | +78.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,820 | -€9,723 | +€35,097 | +78.3% |
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.