All risk: 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.
All risk
Largest movements
- Tangible fixed assets -€9,639
down €9,639 (-5.5%), from €176,612 to €166,973
- Cash -€1,871
down €1,871 (-82.1%), from €2,279 to €409
mainly Debts after one year (-€11,976) and Advances received (-€7,411)
- Debts after one year -€11,976
down €11,976 (-14.2%), from €84,402 to €72,427
- Advances received -€7,411
down €7,411 (-37.0%), from €20,015 to €12,604
- Reserves +€4,091
up €4,091 (+27.3%), from €14,975 to €19,066
- Tax, wage and social debts +€2,153
up €2,153 (+49.9%), from €4,314 to €6,466
- Profit (loss) carried forward +€1,944
up €1,944 (+73.8%), from €2,633 to €4,578
- Turnover -€23,901
down €23,901 (-44.6%), from €53,550 to €29,649
- Purchases and services -€18,084
down €18,084 (-51.8%), from €34,899 to €16,815
- Depreciation -€1,763
down €1,763 (-15.5%), from €11,402 to €9,639
- Financial charges -€917
down €917 (-13.3%), from €6,883 to €5,966
- Gross operating margin +€891
up €891 (+3.4%), from €26,256 to €27,147
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 | €181,325 | €168,799 | -€12,526 | -6.9% |
| Fixed assets | 21/28 | €176,612 | €166,973 | -€9,639 | -5.5% |
| Tangible fixed assets | 22/27 | €176,612 | €166,973 | -€9,639 | -5.5% |
| Land and buildings | 22 | €176,612 | €166,973 | -€9,639 | -5.5% |
| Current assets | 29/58 | €4,713 | €1,826 | -€2,887 | -61.3% |
| Amounts receivable within one year | 40/41 | €1,879 | €873 | -€1,006 | -53.5% |
| Other amounts receivable | 41 | €1,879 | €873 | -€1,006 | -53.5% |
| Cash at bank and in hand | 54/58 | €2,279 | €409 | -€1,871 | -82.1% |
| Deferred charges and accrued income | 490/1 | €555 | €544 | -€11 | -2.0% |
| Total equity and liabilities | 10/49 | €181,325 | €168,799 | -€12,526 | -6.9% |
| Equity | 10/15 | €36,200 | €42,236 | +€6,035 | +16.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €14,975 | €19,066 | +€4,091 | +27.3% |
| Distributable reserves | 133 | €14,975 | €19,066 | +€4,091 | +27.3% |
| Profit (loss) carried forward | 14 | €2,633 | €4,578 | +€1,944 | +73.8% |
| Amounts payable | 17/49 | €145,125 | €126,563 | -€18,561 | -12.8% |
| Amounts payable after more than one year | 17 | €84,402 | €72,427 | -€11,976 | -14.2% |
| Financial debts | 170/4 | €84,402 | €72,427 | -€11,976 | -14.2% |
| Amounts payable within one year | 42/48 | €60,722 | €54,137 | -€6,586 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €1,600 | €1,600 | = | 0.0% |
| Financial debts | 43 | €13,812 | €11,976 | -€1,837 | -13.3% |
| Other loans | 439 | €13,812 | €11,976 | -€1,837 | -13.3% |
| Trade debts | 44 | €1,941 | €1,591 | -€350 | -18.0% |
| Suppliers | 440/4 | €1,941 | €1,591 | -€350 | -18.0% |
| Advances received on contracts in progress | 46 | €20,015 | €12,604 | -€7,411 | -37.0% |
| Taxes, remuneration and social security | 45 | €4,314 | €6,466 | +€2,153 | +49.9% |
| Taxes | 450/3 | €4,314 | €6,466 | +€2,153 | +49.9% |
| Other amounts payable | 47/48 | €19,040 | €19,900 | +€860 | +4.5% |
| Turnover | 70 | €53,550 | €29,649 | -€23,901 | -44.6% |
| Non-recurring operating income | 76A | - | €9,631 | +€9,631 | |
| Goods, raw materials, services and sundry goods | 60/61 | €34,899 | €16,815 | -€18,084 | -51.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,402 | €9,639 | -€1,763 | -15.5% |
| Other operating charges | 640/8 | €2,299 | €2,081 | -€218 | -9.5% |
| Gross operating margin | 9900 | €26,256 | €27,147 | +€891 | +3.4% |
| Operating profit (loss) | 9901 | €12,556 | €15,427 | +€2,872 | +22.9% |
| Financial income | 75/76B | €19 | €3 | -€16 | -86.5% |
| Recurring financial income | 75 | €19 | €3 | -€16 | -86.5% |
| Financial charges | 65/66B | €6,883 | €5,966 | -€917 | -13.3% |
| Recurring financial charges | 65 | €6,883 | €5,966 | -€917 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €5,691 | €9,463 | +€3,772 | +66.3% |
| Income taxes | 67/77 | €3,058 | €3,428 | +€370 | +12.1% |
| Profit (loss) for the period | 9904 | €2,633 | €6,035 | +€3,402 | +129.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,633 | €6,035 | +€3,402 | +129.2% |
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 11 October 2026 via checked.be.