B + L: 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.
B + L
Largest movements
- Tangible fixed assets -€49,893
down €49,893 (-2.7%), from €1.9m to €1.8m
of which Land and buildings: -€47,701
- Debts after one year -€78,918
down €78,918 (-8.4%), from €936,817 to €857,899
- Other debts +€68,472
up €68,472 (+10.8%), from €631,384 to €699,856
- Profit (loss) carried forward -€18,727
down €18,727 (-13.0%), from -€144,418 to -€163,145
- Gross operating margin +€10,950
up €10,950 (+12.9%), from €84,874 to €95,825
- Financial charges +€1,530
up €1,530 (+3.8%), from €39,890 to €41,420
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 | €1,866,054 | €1,838,007 | -€28,046 | -1.5% |
| Fixed assets | 21/28 | €1,856,977 | €1,807,084 | -€49,893 | -2.7% |
| Tangible fixed assets | 22/27 | €1,856,977 | €1,807,084 | -€49,893 | -2.7% |
| Land and buildings | 22 | €1,852,375 | €1,804,674 | -€47,701 | -2.6% |
| Plant, machinery and equipment | 23 | €1,633 | €1,186 | -€447 | -27.4% |
| Furniture and vehicles | 24 | €2,970 | €1,224 | -€1,746 | -58.8% |
| Current assets | 29/58 | €9,076 | €30,923 | +€21,847 | +240.7% |
| Amounts receivable within one year | 40/41 | - | €10,208 | +€10,208 | |
| Trade receivables | 40 | - | €10,208 | +€10,208 | |
| Cash at bank and in hand | 54/58 | €9,076 | €20,548 | +€11,472 | +126.4% |
| Deferred charges and accrued income | 490/1 | - | €167 | +€167 | |
| Total equity and liabilities | 10/49 | €1,866,054 | €1,838,007 | -€28,046 | -1.5% |
| Equity | 10/15 | €215,582 | €196,855 | -€18,727 | -8.7% |
| Contributions | 10/11 | €360,000 | €360,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€144,418 | -€163,145 | -€18,727 | -13.0% |
| Amounts payable | 17/49 | €1,650,471 | €1,641,152 | -€9,319 | -0.6% |
| Amounts payable after more than one year | 17 | €936,817 | €857,899 | -€78,918 | -8.4% |
| Financial debts | 170/4 | €936,817 | €857,899 | -€78,918 | -8.4% |
| Amounts payable within one year | 42/48 | €699,025 | €769,446 | +€70,421 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €67,179 | €66,237 | -€942 | -1.4% |
| Trade debts | 44 | €181 | €3,083 | +€2,902 | +1599.0% |
| Suppliers | 440/4 | €181 | €3,083 | +€2,902 | +1599.0% |
| Taxes, remuneration and social security | 45 | €280 | €269 | -€11 | -3.9% |
| Taxes | 450/3 | €280 | €269 | -€11 | -3.9% |
| Other amounts payable | 47/48 | €631,384 | €699,856 | +€68,472 | +10.8% |
| Accrued charges and deferred income | 492/3 | €14,629 | €13,808 | -€821 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,477 | €71,629 | -€849 | -1.2% |
| Other operating charges | 640/8 | €1,232 | €1,235 | +€3 | +0.2% |
| Gross operating margin | 9900 | €84,874 | €95,825 | +€10,950 | +12.9% |
| Operating profit (loss) | 9901 | €11,165 | €22,961 | +€11,796 | +105.6% |
| Financial income | 75/76B | €0 | €1 | +€1 | +2233.3% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +2233.3% |
| Financial charges | 65/66B | €39,890 | €41,420 | +€1,530 | +3.8% |
| Recurring financial charges | 65 | €39,890 | €41,420 | +€1,530 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | -€28,724 | -€18,458 | +€10,267 | +35.7% |
| Income taxes | 67/77 | €280 | €269 | -€11 | -3.9% |
| Profit (loss) for the period | 9904 | -€29,005 | -€18,727 | +€10,277 | +35.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,005 | -€18,727 | +€10,277 | +35.4% |
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 7 October 2026 via checked.be.