AS CONCEPT: 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.
AS CONCEPT
Largest movements
- Receivables within one year -€154,267
down €154,267 (-90.3%), from €170,758 to €16,490
of which Trade receivables: -€145,610
- Cash +€30,628
up €30,628 (+27.9%), from €109,671 to €140,299
mainly Receivables within one year (+€154,267) and Other debts (+€19,821)
- Tangible fixed assets -€13,685
down €13,685 (-5.8%), from €236,486 to €222,800
of which Land and buildings: -€10,594
- Provisions -€96,332
down €96,332 (-55.6%), from €173,177 to €76,844
- Reserves -€67,728
down €67,728 (-27.7%), from €244,579 to €176,851
of which Distributable reserves: -€67,728
- Other debts +€19,821
up €19,821 (+29.0%), from €68,306 to €88,127
- Tax, wage and social debts +€6,486
up €6,486 (+111%), from €5,821 to €12,307
of which Taxes: +€6,493
- Provisions -€153,314
down €153,314, from €76,657 to -€76,657
- Gross operating margin -€134,157
down €134,157 (-78.1%), from €171,869 to €37,712
- Financial charges +€34,820
up €34,820 (+57.5%), from €60,576 to €95,396
- Depreciation -€9,125
down €9,125 (-40.0%), from €22,810 to €13,685
- Other operating charges -€2,164
down €2,164 (-84.4%), from €2,564 to €400
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 | €520,884 | €382,757 | -€138,128 | -26.5% |
| Fixed assets | 21/28 | €236,486 | €222,800 | -€13,685 | -5.8% |
| Tangible fixed assets | 22/27 | €236,486 | €222,800 | -€13,685 | -5.8% |
| Land and buildings | 22 | €233,395 | €222,800 | -€10,594 | -4.5% |
| Plant, machinery and equipment | 23 | €340 | €0 | -€340 | -100% |
| Furniture and vehicles | 24 | €370 | €0 | -€370 | -100% |
| Leasing and similar rights | 25 | €2,381 | €0 | -€2,381 | -100% |
| Current assets | 29/58 | €284,399 | €159,956 | -€124,443 | -43.8% |
| Amounts receivable within one year | 40/41 | €170,758 | €16,490 | -€154,267 | -90.3% |
| Trade receivables | 40 | €145,610 | €0 | -€145,610 | -100% |
| Other amounts receivable | 41 | €25,148 | €16,490 | -€8,657 | -34.4% |
| Cash at bank and in hand | 54/58 | €109,671 | €140,299 | +€30,628 | +27.9% |
| Deferred charges and accrued income | 490/1 | €3,970 | €3,166 | -€803 | -20.2% |
| Total equity and liabilities | 10/49 | €520,884 | €382,757 | -€138,128 | -26.5% |
| Equity | 10/15 | €270,459 | €202,731 | -€67,728 | -25.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €244,579 | €176,851 | -€67,728 | -27.7% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €242,724 | €174,996 | -€67,728 | -27.9% |
| Profit (loss) carried forward | 14 | €7,330 | €7,330 | = | 0.0% |
| Provisions and deferred taxes | 16 | €173,177 | €76,844 | -€96,332 | -55.6% |
| Provisions for liabilities and charges | 160/5 | €173,177 | €76,844 | -€96,332 | -55.6% |
| Environmental obligations | 163 | €96,519 | €0 | -€96,519 | -100% |
| Other liabilities and charges | 164/5 | €76,657 | €76,844 | +€187 | +0.2% |
| Amounts payable | 17/49 | €77,249 | €103,181 | +€25,932 | +33.6% |
| Amounts payable within one year | 42/48 | €76,413 | €103,181 | +€26,768 | +35.0% |
| Current portion of amounts payable after more than one year | 42 | €2,286 | €0 | -€2,286 | -100% |
| Trade debts | 44 | - | €2,747 | +€2,747 | |
| Suppliers | 440/4 | - | €2,747 | +€2,747 | |
| Taxes, remuneration and social security | 45 | €5,821 | €12,307 | +€6,486 | +111% |
| Taxes | 450/3 | €2,835 | €9,328 | +€6,493 | +229% |
| Remuneration and social security | 454/9 | €2,986 | €2,979 | -€7 | -0.2% |
| Other amounts payable | 47/48 | €68,306 | €88,127 | +€19,821 | +29.0% |
| Accrued charges and deferred income | 492/3 | €836 | €0 | -€836 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,810 | €13,685 | -€9,125 | -40.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €76,657 | -€76,657 | -€153,314 | |
| Other operating charges | 640/8 | €2,564 | €400 | -€2,164 | -84.4% |
| Gross operating margin | 9900 | €171,869 | €37,712 | -€134,157 | -78.1% |
| Operating profit (loss) | 9901 | €69,837 | €100,284 | +€30,447 | +43.6% |
| Financial income | 75/76B | €5,321 | €7,236 | +€1,915 | +36.0% |
| Recurring financial income | 75 | €5,321 | €7,236 | +€1,915 | +36.0% |
| Financial charges | 65/66B | €60,576 | €95,396 | +€34,820 | +57.5% |
| Recurring financial charges | 65 | €60,576 | €95,396 | +€34,820 | +57.5% |
| Profit (loss) for the period before taxes | 9903 | €14,582 | €12,124 | -€2,458 | -16.9% |
| Income taxes | 67/77 | €4,835 | €4,293 | -€542 | -11.2% |
| Profit (loss) for the period | 9904 | €9,747 | €7,832 | -€1,916 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,747 | €7,832 | -€1,916 | -19.7% |
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 24 October 2026 via checked.be.