At The Base: 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.
At The Base
Largest movements
- Receivables within one year -€36,385
down €36,385 (-40.4%), from €90,114 to €53,728
of which Trade receivables: -€36,385
- Tangible fixed assets +€7,532
up €7,532 (+1.9%), from €389,072 to €396,604
of which Plant, machinery and equipment: +€27,367
- Debts after one year -€50,333
down €50,333 (-21.5%), from €234,329 to €183,996
- Other debts +€48,189
up €48,189 (+223%), from €21,591 to €69,780
- Provisions -€17,131
down €17,131 (-100%), from €17,131 to €0
- Trade debts -€7,595
down €7,595 (-73.4%), from €10,349 to €2,754
- Tax, wage and social debts -€6,989
down €6,989 (-66.8%), from €10,462 to €3,473
- Depreciation -€62,877
down €62,877 (-71.3%), from €88,148 to €25,271
- Provisions -€17,131
down €17,131 (-100%), from €17,131 to €0
- Gross operating margin -€2,901
down €2,901 (-5.9%), from €48,841 to €45,940
- Financial charges -€1,865
down €1,865 (-14.9%), from €12,502 to €10,637
- Other operating charges -€1,028
down €1,028 (-10.1%), from €10,167 to €9,139
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 | €514,457 | €481,505 | -€32,952 | -6.4% |
| Fixed assets | 21/28 | €389,072 | €396,604 | +€7,532 | +1.9% |
| Tangible fixed assets | 22/27 | €389,072 | €396,604 | +€7,532 | +1.9% |
| Land and buildings | 22 | €267,348 | €248,684 | -€18,664 | -7.0% |
| Plant, machinery and equipment | 23 | €113,681 | €141,047 | +€27,367 | +24.1% |
| Furniture and vehicles | 24 | €8,044 | €6,873 | -€1,171 | -14.6% |
| Current assets | 29/58 | €125,385 | €84,900 | -€40,485 | -32.3% |
| Amounts receivable within one year | 40/41 | €90,114 | €53,728 | -€36,385 | -40.4% |
| Trade receivables | 40 | €87,614 | €51,228 | -€36,385 | -41.5% |
| Other amounts receivable | 41 | €2,500 | €2,500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €31,260 | €27,422 | -€3,838 | -12.3% |
| Deferred charges and accrued income | 490/1 | €4,012 | €3,750 | -€262 | -6.5% |
| Total equity and liabilities | 10/49 | €514,457 | €481,505 | -€32,952 | -6.4% |
| Equity | 10/15 | €170,262 | €171,169 | +€907 | +0.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €99,794 | €99,794 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €93,594 | €93,594 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,468 | €9,375 | +€907 | +10.7% |
| Provisions and deferred taxes | 16 | €17,131 | €0 | -€17,131 | -100% |
| Provisions for liabilities and charges | 160/5 | €17,131 | €0 | -€17,131 | -100% |
| Other liabilities and charges | 164/5 | €17,131 | €0 | -€17,131 | -100% |
| Amounts payable | 17/49 | €327,064 | €310,336 | -€16,728 | -5.1% |
| Amounts payable after more than one year | 17 | €234,329 | €183,996 | -€50,333 | -21.5% |
| Financial debts | 170/4 | €234,329 | €183,996 | -€50,333 | -21.5% |
| Amounts payable within one year | 42/48 | €92,735 | €126,340 | +€33,605 | +36.2% |
| Current portion of amounts payable after more than one year | 42 | €50,333 | €50,333 | = | 0.0% |
| Trade debts | 44 | €10,349 | €2,754 | -€7,595 | -73.4% |
| Suppliers | 440/4 | €10,349 | €2,754 | -€7,595 | -73.4% |
| Taxes, remuneration and social security | 45 | €10,462 | €3,473 | -€6,989 | -66.8% |
| Taxes | 450/3 | €10,462 | €3,473 | -€6,989 | -66.8% |
| Other amounts payable | 47/48 | €21,591 | €69,780 | +€48,189 | +223% |
| Non-recurring operating income | 76A | - | €17,131 | +€17,131 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,148 | €25,271 | -€62,877 | -71.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €17,131 | €0 | -€17,131 | -100% |
| Other operating charges | 640/8 | €10,167 | €9,139 | -€1,028 | -10.1% |
| Gross operating margin | 9900 | €48,841 | €45,940 | -€2,901 | -5.9% |
| Operating profit (loss) | 9901 | -€66,605 | €11,530 | +€78,135 | |
| Financial income | 75/76B | €48 | €261 | +€212 | +440% |
| Recurring financial income | 75 | €48 | €261 | +€212 | +440% |
| Financial charges | 65/66B | €12,502 | €10,637 | -€1,865 | -14.9% |
| Recurring financial charges | 65 | €12,502 | €10,637 | -€1,865 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | -€79,059 | €1,153 | +€80,212 | |
| Income taxes | 67/77 | - | €246 | +€246 | |
| Profit (loss) for the period | 9904 | -€79,059 | €907 | +€79,966 | |
| Profit (loss) for the period to be appropriated | 9905 | -€79,059 | €907 | +€79,966 |
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 19 October 2026 via checked.be.