AD 2010: what changed
Two financial 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.
AD 2010
Largest movements
- Financial fixed assets -€557,063
no longer reported in 2025 (was €557,063)
- Tangible fixed assets -€31,515
down €31,515 (-5.1%), from €613,424 to €581,909
of which Land and buildings: -€18,672
- Reserves -€472,413
down €472,413 (-66.9%), from €706,378 to €233,966
of which Distributable reserves: -€472,413
- Other debts -€120,373
down €120,373 (-82.4%), from €146,038 to €25,665
- Current portion of long-term debt -€18,984
no longer reported in 2025 (was €18,984)
- Financial charges +€420,405
up €420,405 (+1196.4%), from €35,138 to €455,543
of which Non-recurring financial charges: +€436,004
- Gross operating margin -€24,824
down €24,824 (-50.1%), from €49,540 to €24,717
- Other operating charges -€3,895
down €3,895 (-42.6%), from €9,139 to €5,244
- Depreciation +€679
up €679 (+1.9%), from €35,364 to €36,044
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 | €1,196,422 | €598,603 | -€597,819 | -50.0% |
| Fixed assets | 21/28 | €1,170,488 | €581,909 | -€588,578 | -50.3% |
| Tangible fixed assets | 22/27 | €613,424 | €581,909 | -€31,515 | -5.1% |
| Land and buildings | 22 | €554,338 | €535,666 | -€18,672 | -3.4% |
| Furniture and vehicles | 24 | €59,086 | €46,243 | -€12,843 | -21.7% |
| Financial fixed assets | 28 | €557,063 | - | -€557,063 | |
| Current assets | 29/58 | €25,934 | €16,694 | -€9,240 | -35.6% |
| Amounts receivable within one year | 40/41 | €17,972 | €9,406 | -€8,566 | -47.7% |
| Trade receivables | 40 | €4,931 | €2,944 | -€1,987 | -40.3% |
| Other amounts receivable | 41 | €13,041 | €6,462 | -€6,579 | -50.4% |
| Cash at bank and in hand | 54/58 | €7,810 | €7,288 | -€522 | -6.7% |
| Deferred charges and accrued income | 490/1 | €152 | - | -€152 | |
| Total equity and liabilities | 10/49 | €1,196,422 | €598,603 | -€597,819 | -50.0% |
| Equity | 10/15 | €768,352 | €295,939 | -€472,413 | -61.5% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €706,378 | €233,966 | -€472,413 | -66.9% |
| Non-distributable reserves | 130/1 | €6,242 | €6,242 | = | 0.0% |
| Legal reserve | 130 | €6,242 | €6,242 | = | 0.0% |
| Tax-exempt reserves | 132 | €69,471 | €69,471 | = | 0.0% |
| Distributable reserves | 133 | €630,665 | €158,252 | -€472,413 | -74.9% |
| Amounts payable | 17/49 | €428,070 | €302,664 | -€125,406 | -29.3% |
| Amounts payable after more than one year | 17 | €255,500 | €255,500 | = | 0.0% |
| Other amounts payable | 178/9 | €255,500 | €255,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €172,570 | €40,137 | -€132,434 | -76.7% |
| Current portion of amounts payable after more than one year | 42 | €18,984 | - | -€18,984 | |
| Trade debts | 44 | - | €2,274 | +€2,274 | |
| Suppliers | 440/4 | - | €2,274 | +€2,274 | |
| Taxes, remuneration and social security | 45 | €7,547 | €12,197 | +€4,650 | +61.6% |
| Taxes | 450/3 | €7,547 | €12,197 | +€4,650 | +61.6% |
| Other amounts payable | 47/48 | €146,038 | €25,665 | -€120,373 | -82.4% |
| Accrued charges and deferred income | 492/3 | - | €7,028 | +€7,028 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,364 | €36,044 | +€679 | +1.9% |
| Other operating charges | 640/8 | €9,139 | €5,244 | -€3,895 | -42.6% |
| Gross operating margin | 9900 | €49,540 | €24,717 | -€24,824 | -50.1% |
| Operating profit (loss) | 9901 | €5,037 | -€16,571 | -€21,608 | |
| Financial charges | 65/66B | €35,138 | €455,543 | +€420,405 | +1196.4% |
| Recurring financial charges | 65 | €35,138 | €19,539 | -€15,599 | -44.4% |
| Non-recurring financial charges | 66B | - | €436,004 | +€436,004 | |
| Profit (loss) for the period before taxes | 9903 | -€30,101 | -€472,114 | -€442,012 | -1468.4% |
| Income taxes | 67/77 | €324 | €299 | -€25 | -7.7% |
| Profit (loss) for the period | 9904 | -€30,425 | -€472,413 | -€441,988 | -1452.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,425 | -€472,413 | -€441,988 | -1452.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.