Angle View: 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.
Angle View
Largest movements
- Tangible fixed assets -€1.5m
down €1.5m (-15.6%), from €9.7m to €8.2m
- Cash -€328,909
down €328,909 (-76.2%), from €431,625 to €102,716
mainly Debts after one year (-€5.8m) and Net result for the year (-€2.0m)
- Current portion of long-term debt +€6.1m
up €6.1m (+1,904%), from €320,000 to €6.4m
- Debts after one year -€5.8m
down €5.8m (-68.9%), from €8.5m to €2.6m
- Profit (loss) carried forward -€2.0m
down €2.0m (-34.6%), from -€5.9m to -€8.0m
- Depreciation +€1.2m
up €1.2m (+446%), from €279,706 to €1.5m
- Financial charges -€425,670
down €425,670 (-53.6%), from €793,612 to €367,942
- Gross operating margin +€23,617
up €23,617 (+14.1%), from -€167,164 to -€143,547
- Purchases and services -€10,951
down €10,951 (-6.6%), from €167,164 to €156,213
- Financial income +€1,813
new in 2025: €1,813
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 | €10,190,292 | €8,360,312 | -€1.8m | -18.0% |
| Fixed assets | 21/28 | €9,720,294 | €8,200,000 | -€1.5m | -15.6% |
| Tangible fixed assets | 22/27 | €9,720,294 | €8,200,000 | -€1.5m | -15.6% |
| Land and buildings | 22 | €9,720,294 | €8,200,000 | -€1.5m | -15.6% |
| Current assets | 29/58 | €469,998 | €160,312 | -€309,686 | -65.9% |
| Amounts receivable within one year | 40/41 | €34,190 | €41,281 | +€7,091 | +20.7% |
| Trade receivables | 40 | €63 | €3,424 | +€3,361 | +5,335% |
| Other amounts receivable | 41 | €34,127 | €37,857 | +€3,730 | +10.9% |
| Cash at bank and in hand | 54/58 | €431,625 | €102,716 | -€328,909 | -76.2% |
| Deferred charges and accrued income | 490/1 | €4,183 | €16,315 | +€12,132 | +290% |
| Total equity and liabilities | 10/49 | €10,190,292 | €8,360,312 | -€1.8m | -18.0% |
| Equity | 10/15 | €1,173,922 | -€873,738 | -€2.0m | |
| Contributions | 10/11 | €7,096,728 | €7,096,728 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,922,806 | -€7,970,466 | -€2.0m | -34.6% |
| Amounts payable | 17/49 | €9,016,370 | €9,234,050 | +€217,680 | +2.4% |
| Amounts payable after more than one year | 17 | €8,470,084 | €2,636,672 | -€5.8m | -68.9% |
| Financial debts | 170/4 | €8,470,084 | €2,636,672 | -€5.8m | -68.9% |
| Amounts payable within one year | 42/48 | €346,285 | €6,456,807 | +€6.1m | +1,765% |
| Current portion of amounts payable after more than one year | 42 | €320,000 | €6,413,549 | +€6.1m | +1,904% |
| Trade debts | 44 | €26,285 | €43,258 | +€16,973 | +64.6% |
| Suppliers | 440/4 | €26,285 | €43,258 | +€16,973 | +64.6% |
| Accrued charges and deferred income | 492/3 | €200,001 | €140,571 | -€59,430 | -29.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €167,164 | €156,213 | -€10,951 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €279,706 | €1,527,238 | +€1.2m | +446% |
| Other operating charges | 640/8 | €9,063 | €10,746 | +€1,683 | +18.6% |
| Gross operating margin | 9900 | -€167,164 | -€143,547 | +€23,617 | +14.1% |
| Operating profit (loss) | 9901 | -€455,933 | -€1,681,531 | -€1.2m | -269% |
| Financial income | 75/76B | - | €1,813 | +€1,813 | |
| Recurring financial income | 75 | - | €1,813 | +€1,813 | |
| Financial charges | 65/66B | €793,612 | €367,942 | -€425,670 | -53.6% |
| Recurring financial charges | 65 | €793,612 | €367,942 | -€425,670 | -53.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,249,545 | -€2,047,660 | -€798,115 | -63.9% |
| Profit (loss) for the period | 9904 | -€1,249,545 | -€2,047,660 | -€798,115 | -63.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,249,545 | -€2,047,660 | -€798,115 | -63.9% |
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 29 October 2026 via checked.be.