ADVERBZ: 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.
ADVERBZ
Largest movements
- Tangible fixed assets -€50,242
down €50,242 (-2.5%), from €2.0m to €2.0m
of which Land and buildings: -€83,846
- Debts after one year -€86,067
down €86,067 (-10.3%), from €835,618 to €749,551
of which Financial debts: -€98,067
- Accrued charges and deferred income +€75,000
new in 2025: €75,000
- Other debts +€70,541
up €70,541 (+15.2%), from €464,466 to €535,007
- Reserves -€56,438
down €56,438 (-6.7%), from €844,351 to €787,913
- Gross operating margin -€83,491
down €83,491 (-62.4%), from €133,754 to €50,263
- Taxes -€23,675
down €23,675, from €22,900 to -€775
- Depreciation +€6,036
up €6,036 (+6.0%), from €99,762 to €105,798
- Other operating charges +€3,088
up €3,088 (+45.9%), from €6,730 to €9,818
- Financial charges -€1,391
down €1,391 (-8.6%), from €16,089 to €14,699
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.
Derived cash bridge
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 | €2,036,080 | €2,011,016 | -€25,064 | -1.2% |
| Fixed assets | 21/28 | €2,027,703 | €1,977,461 | -€50,242 | -2.5% |
| Tangible fixed assets | 22/27 | €2,026,613 | €1,976,371 | -€50,242 | -2.5% |
| Land and buildings | 22 | €1,993,829 | €1,909,983 | -€83,846 | -4.2% |
| Plant, machinery and equipment | 23 | €23,382 | €32,257 | +€8,875 | +38.0% |
| Furniture and vehicles | 24 | €9,401 | €34,131 | +€24,730 | +263% |
| Financial fixed assets | 28 | €1,090 | €1,090 | = | 0.0% |
| Current assets | 29/58 | €8,378 | €33,555 | +€25,177 | +301% |
| Amounts receivable within one year | 40/41 | €7,387 | €13,213 | +€5,826 | +78.9% |
| Trade receivables | 40 | €7,387 | €11,291 | +€3,905 | +52.9% |
| Other amounts receivable | 41 | - | €1,921 | +€1,921 | |
| Cash at bank and in hand | 54/58 | €991 | €18,708 | +€17,717 | +1,788% |
| Deferred charges and accrued income | 490/1 | - | €1,634 | +€1,634 | |
| Total equity and liabilities | 10/49 | €2,036,080 | €2,011,016 | -€25,064 | -1.2% |
| Equity | 10/15 | €201,376 | €140,963 | -€60,412 | -30.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €844,351 | €787,913 | -€56,438 | -6.7% |
| Tax-exempt reserves | 132 | €844,351 | €787,913 | -€56,438 | -6.7% |
| Profit (loss) carried forward | 14 | -€649,175 | -€653,149 | -€3,974 | -0.6% |
| Provisions and deferred taxes | 16 | €279,529 | €260,716 | -€18,813 | -6.7% |
| Deferred taxes | 168 | €279,529 | €260,716 | -€18,813 | -6.7% |
| Amounts payable | 17/49 | €1,555,176 | €1,609,336 | +€54,160 | +3.5% |
| Amounts payable after more than one year | 17 | €835,618 | €749,551 | -€86,067 | -10.3% |
| Financial debts | 170/4 | €816,915 | €718,848 | -€98,067 | -12.0% |
| Other amounts payable | 178/9 | €18,703 | €30,703 | +€12,000 | +64.2% |
| Amounts payable within one year | 42/48 | €719,557 | €784,785 | +€65,228 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €97,539 | €98,078 | +€538 | +0.6% |
| Financial debts | 43 | - | €61 | +€61 | |
| Credit institutions | 430/8 | - | €61 | +€61 | |
| Trade debts | 44 | €151,205 | €142,017 | -€9,188 | -6.1% |
| Suppliers | 440/4 | €151,205 | €142,017 | -€9,188 | -6.1% |
| Taxes, remuneration and social security | 45 | €6,347 | €9,622 | +€3,276 | +51.6% |
| Taxes | 450/3 | €6,347 | €9,622 | +€3,276 | +51.6% |
| Other amounts payable | 47/48 | €464,466 | €535,007 | +€70,541 | +15.2% |
| Accrued charges and deferred income | 492/3 | - | €75,000 | +€75,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,762 | €105,798 | +€6,036 | +6.0% |
| Other operating charges | 640/8 | €6,730 | €9,818 | +€3,088 | +45.9% |
| Gross operating margin | 9900 | €133,754 | €50,263 | -€83,491 | -62.4% |
| Operating profit (loss) | 9901 | €27,262 | -€65,353 | -€92,615 | |
| Financial income | 75/76B | €21 | €52 | +€31 | +148% |
| Recurring financial income | 75 | €21 | €52 | +€31 | +148% |
| Financial charges | 65/66B | €16,089 | €14,699 | -€1,391 | -8.6% |
| Recurring financial charges | 65 | €16,089 | €14,699 | -€1,391 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €11,194 | -€80,000 | -€91,193 | |
| Transfer from deferred taxes | 780 | €18,813 | €18,813 | = | 0.0% |
| Income taxes | 67/77 | €22,900 | -€775 | -€23,675 | |
| Profit (loss) for the period | 9904 | €7,106 | -€60,412 | -€67,519 | |
| Transfer from tax-exempt reserves | 789 | €56,438 | €56,438 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €63,544 | -€3,974 | -€67,519 |
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 14 October 2026 via checked.be.