APSTRAKT: 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.
APSTRAKT
Largest movements
- Tangible fixed assets +€826,032
up €826,032 (+92.4%), from €893,745 to €1.7m
of which Land and buildings: +€839,979
- Receivables within one year -€135,992
down €135,992 (-59.3%), from €229,155 to €93,163
of which Other amounts receivable: -€153,067
- Cash +€117,528
up €117,528 (+187.8%), from €62,565 to €180,093
mainly Net result for the year (+€297,911) and Debts after one year (+€180,952)
- Financial fixed assets -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Current investments -€49,728
down €49,728 (-100.0%), from €49,728 to €0
- Reserves +€297,911
up €297,911 (+34.1%), from €872,511 to €1.2m
of which Tax-exempt reserves: +€298,534
- Debts after one year +€180,952
up €180,952 (+287.1%), from €63,037 to €243,990
- Current portion of long-term debt +€93,354
up €93,354 (+620.0%), from €15,056 to €108,410
- Provisions +€74,633
new in 2025: €74,633
- Other debts +€55,593
up €55,593 (+35.3%), from €157,391 to €212,984
- Gross operating margin +€305,853
up €305,853 (+111.5%), from €274,324 to €580,177
- Depreciation +€90,967
up €90,967 (+129.8%), from €70,071 to €161,038
- Taxes -€55,412
down €55,412 (-96.6%), from €57,372 to €1,959
- Financial charges +€26,981
up €26,981 (+221.9%), from €12,159 to €39,140
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 | €1,288,999 | €1,997,021 | +€708,022 | +54.9% |
| Fixed assets | 21/28 | €943,745 | €1,719,777 | +€776,032 | +82.2% |
| Tangible fixed assets | 22/27 | €893,745 | €1,719,777 | +€826,032 | +92.4% |
| Land and buildings | 22 | €844,537 | €1,684,516 | +€839,979 | +99.5% |
| Furniture and vehicles | 24 | €49,208 | €35,261 | -€13,947 | -28.3% |
| Financial fixed assets | 28 | €50,000 | €0 | -€50,000 | -100.0% |
| Current assets | 29/58 | €345,253 | €277,244 | -€68,009 | -19.7% |
| Amounts receivable within one year | 40/41 | €229,155 | €93,163 | -€135,992 | -59.3% |
| Trade receivables | 40 | €72,828 | €89,903 | +€17,075 | +23.4% |
| Other amounts receivable | 41 | €156,327 | €3,260 | -€153,067 | -97.9% |
| Current investments | 50/53 | €49,728 | €0 | -€49,728 | -100.0% |
| Cash at bank and in hand | 54/58 | €62,565 | €180,093 | +€117,528 | +187.8% |
| Deferred charges and accrued income | 490/1 | €3,805 | €3,988 | +€182 | +4.8% |
| Total equity and liabilities | 10/49 | €1,288,999 | €1,997,021 | +€708,022 | +54.9% |
| Equity | 10/15 | €1,015,474 | €1,313,385 | +€297,911 | +29.3% |
| Contributions | 10/11 | €118,900 | €118,900 | = | 0.0% |
| Revaluation surpluses | 12 | €24,063 | €24,063 | = | 0.0% |
| Reserves | 13 | €872,511 | €1,170,422 | +€297,911 | +34.1% |
| Tax-exempt reserves | 132 | €10,000 | €308,534 | +€298,534 | +2985.3% |
| Distributable reserves | 133 | €862,511 | €861,888 | -€623 | -0.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €74,633 | +€74,633 | |
| Deferred taxes | 168 | - | €74,633 | +€74,633 | |
| Amounts payable | 17/49 | €273,525 | €609,003 | +€335,478 | +122.6% |
| Amounts payable after more than one year | 17 | €63,037 | €243,990 | +€180,952 | +287.1% |
| Financial debts | 170/4 | €63,037 | €243,990 | +€180,952 | +287.1% |
| Amounts payable within one year | 42/48 | €202,531 | €346,946 | +€144,415 | +71.3% |
| Current portion of amounts payable after more than one year | 42 | €15,056 | €108,410 | +€93,354 | +620.0% |
| Trade debts | 44 | €8,105 | €13,746 | +€5,641 | +69.6% |
| Suppliers | 440/4 | €8,105 | €13,746 | +€5,641 | +69.6% |
| Taxes, remuneration and social security | 45 | €21,979 | €11,805 | -€10,174 | -46.3% |
| Taxes | 450/3 | €21,979 | €11,805 | -€10,174 | -46.3% |
| Other amounts payable | 47/48 | €157,391 | €212,984 | +€55,593 | +35.3% |
| Accrued charges and deferred income | 492/3 | €7,956 | €18,067 | +€10,111 | +127.1% |
| Non-recurring operating income | 76A | €91,736 | €394,372 | +€302,636 | +329.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,071 | €161,038 | +€90,967 | +129.8% |
| Other operating charges | 640/8 | €7,632 | €6,227 | -€1,404 | -18.4% |
| Gross operating margin | 9900 | €274,324 | €580,177 | +€305,853 | +111.5% |
| Operating profit (loss) | 9901 | €196,621 | €412,912 | +€216,291 | +110.0% |
| Financial income | 75/76B | €1,965 | €732 | -€1,232 | -62.7% |
| Recurring financial income | 75 | €1,965 | €732 | -€1,232 | -62.7% |
| Financial charges | 65/66B | €12,159 | €39,140 | +€26,981 | +221.9% |
| Recurring financial charges | 65 | €12,159 | €39,140 | +€26,981 | +221.9% |
| Profit (loss) for the period before taxes | 9903 | €186,426 | €374,504 | +€188,077 | +100.9% |
| Transfer from deferred taxes | 780 | - | €1,585 | +€1,585 | |
| Transfer to deferred taxes | 680 | - | €76,218 | +€76,218 | |
| Income taxes | 67/77 | €57,372 | €1,959 | -€55,412 | -96.6% |
| Profit (loss) for the period | 9904 | €129,055 | €297,911 | +€168,856 | +130.8% |
| Transfer from tax-exempt reserves | 789 | - | €6,340 | +€6,340 | |
| Transfer to tax-exempt reserves | 689 | - | €304,873 | +€304,873 | |
| Profit (loss) for the period to be appropriated | 9905 | €129,055 | -€623 | -€129,678 |
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 6 October 2026 via checked.be.