ACTIVE GUIDELINE: 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.
ACTIVE GUIDELINE
Largest movements
- Intangible fixed assets -€9,047
down €9,047 (-60.0%), from €15,079 to €6,031
- Tangible fixed assets -€6,191
down €6,191 (-16.0%), from €38,806 to €32,615
of which Plant, machinery and equipment: -€10,812
- Cash +€5,311
up €5,311 (+26.7%), from €19,871 to €25,182
mainly Depreciation (+€22,073) and Net result for the year (+€17,896)
- Receivables within one year +€2,784
up €2,784 (+38.5%), from €7,232 to €10,016
- Debts after one year -€32,679
down €32,679 (-52.6%), from €62,082 to €29,403
of which Financial debts: -€30,521
- Reserves +€17,896
up €17,896 (+53.2%), from €33,641 to €51,537
of which Distributable reserves: +€17,896
- Tax, wage and social debts +€6,374
up €6,374 (+255.2%), from €2,497 to €8,871
- Current portion of long-term debt +€1,476
up €1,476 (+5.1%), from €29,045 to €30,521
- Gross operating margin +€10,845
up €10,845 (+27.0%), from €40,156 to €51,001
- Taxes +€3,992
up €3,992 (+399.2%), from €1,000 to €4,992
- Depreciation +€1,716
up €1,716 (+8.4%), from €20,357 to €22,073
- Financial charges -€1,403
down €1,403 (-30.4%), from €4,607 to €3,205
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 | €81,355 | €74,224 | -€7,130 | -8.8% |
| Fixed assets | 21/28 | €53,884 | €38,647 | -€15,238 | -28.3% |
| Intangible fixed assets | 21 | €15,079 | €6,031 | -€9,047 | -60.0% |
| Tangible fixed assets | 22/27 | €38,806 | €32,615 | -€6,191 | -16.0% |
| Plant, machinery and equipment | 23 | €36,457 | €25,645 | -€10,812 | -29.7% |
| Furniture and vehicles | 24 | €2,349 | €6,970 | +€4,621 | +196.7% |
| Current assets | 29/58 | €27,470 | €35,578 | +€8,107 | +29.5% |
| Amounts receivable within one year | 40/41 | €7,232 | €10,016 | +€2,784 | +38.5% |
| Trade receivables | 40 | €7,232 | €10,016 | +€2,784 | +38.5% |
| Cash at bank and in hand | 54/58 | €19,871 | €25,182 | +€5,311 | +26.7% |
| Deferred charges and accrued income | 490/1 | €367 | €380 | +€13 | +3.4% |
| Total equity and liabilities | 10/49 | €81,355 | €74,224 | -€7,130 | -8.8% |
| Equity | 10/15 | -€12,527 | €5,369 | +€17,896 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €33,641 | €51,537 | +€17,896 | +53.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,781 | €14,781 | = | 0.0% |
| Distributable reserves | 133 | €17,000 | €34,896 | +€17,896 | +105.3% |
| Profit (loss) carried forward | 14 | -€52,369 | -€52,369 | = | 0.0% |
| Amounts payable | 17/49 | €93,882 | €68,856 | -€25,026 | -26.7% |
| Amounts payable after more than one year | 17 | €62,082 | €29,403 | -€32,679 | -52.6% |
| Financial debts | 170/4 | €43,692 | €13,171 | -€30,521 | -69.9% |
| Other amounts payable | 178/9 | €18,390 | €16,232 | -€2,158 | -11.7% |
| Amounts payable within one year | 42/48 | €31,800 | €39,453 | +€7,653 | +24.1% |
| Current portion of amounts payable after more than one year | 42 | €29,045 | €30,521 | +€1,476 | +5.1% |
| Trade debts | 44 | €257 | €60 | -€198 | -76.8% |
| Suppliers | 440/4 | €257 | €60 | -€198 | -76.8% |
| Taxes, remuneration and social security | 45 | €2,497 | €8,871 | +€6,374 | +255.2% |
| Taxes | 450/3 | €2,497 | €8,871 | +€6,374 | +255.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,357 | €22,073 | +€1,716 | +8.4% |
| Other operating charges | 640/8 | €2,603 | €2,960 | +€357 | +13.7% |
| Gross operating margin | 9900 | €40,156 | €51,001 | +€10,845 | +27.0% |
| Operating profit (loss) | 9901 | €17,196 | €25,967 | +€8,772 | +51.0% |
| Financial income | 75/76B | €51 | €125 | +€74 | +144.2% |
| Recurring financial income | 75 | €51 | €125 | +€74 | +144.2% |
| Financial charges | 65/66B | €4,607 | €3,205 | -€1,403 | -30.4% |
| Recurring financial charges | 65 | €4,607 | €3,205 | -€1,403 | -30.4% |
| Profit (loss) for the period before taxes | 9903 | €12,640 | €22,888 | +€10,248 | +81.1% |
| Income taxes | 67/77 | €1,000 | €4,992 | +€3,992 | +399.2% |
| Profit (loss) for the period | 9904 | €11,640 | €17,896 | +€6,256 | +53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,640 | €17,896 | +€6,256 | +53.7% |
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.