B-werkt: 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.
B-werkt
Largest movements
- Receivables within one year -€216,502
down €216,502 (-64.8%), from €333,919 to €117,417
of which Other amounts receivable: -€228,983
- Tangible fixed assets -€27,219
down €27,219 (-5.3%), from €512,493 to €485,274
of which Land and buildings: -€26,793
- Short-term financial debts -€144,702
down €144,702 (-85.3%), from €169,702 to €25,000
- Debts after one year -€59,830
down €59,830 (-26.0%), from €230,492 to €170,661
- Reserves -€45,759
down €45,759 (-15.3%), from €298,855 to €253,097
of which Tax-exempt reserves: -€27,604
- Gross operating margin +€38,183
up €38,183, from -€25,828 to €12,355
- Financial income -€5,958
down €5,958 (-44.4%), from €13,419 to €7,461
- Other operating charges -€4,372
down €4,372 (-25.0%), from €17,458 to €13,087
- Financial charges +€2,829
up €2,829 (+20.4%), from €13,872 to €16,701
- Depreciation +€1,963
up €1,963 (+5.8%), from €33,673 to €35,635
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 | €855,387 | €607,814 | -€247,573 | -28.9% |
| Fixed assets | 21/28 | €512,493 | €485,274 | -€27,219 | -5.3% |
| Tangible fixed assets | 22/27 | €512,493 | €485,274 | -€27,219 | -5.3% |
| Land and buildings | 22 | €511,773 | €484,980 | -€26,793 | -5.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €720 | €295 | -€426 | -59.1% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €342,894 | €122,540 | -€220,354 | -64.3% |
| Amounts receivable within one year | 40/41 | €333,919 | €117,417 | -€216,502 | -64.8% |
| Trade receivables | 40 | €921 | €13,402 | +€12,482 | +1,356% |
| Other amounts receivable | 41 | €332,998 | €104,015 | -€228,983 | -68.8% |
| Cash at bank and in hand | 54/58 | €8,244 | €4,016 | -€4,227 | -51.3% |
| Deferred charges and accrued income | 490/1 | €731 | €1,106 | +€375 | +51.3% |
| Total equity and liabilities | 10/49 | €855,387 | €607,814 | -€247,573 | -28.9% |
| Equity | 10/15 | €385,442 | €339,683 | -€45,759 | -11.9% |
| Contributions | 10/11 | €86,587 | €86,587 | = | 0.0% |
| Capital | 10 | €86,587 | €86,587 | = | 0.0% |
| Issued capital | 100 | €86,587 | €86,587 | = | 0.0% |
| Reserves | 13 | €298,855 | €253,097 | -€45,759 | -15.3% |
| Non-distributable reserves | 130/1 | €8,659 | €8,659 | = | 0.0% |
| Legal reserve | 130 | €8,659 | €8,659 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,604 | €0 | -€27,604 | -100% |
| Distributable reserves | 133 | €262,592 | €244,438 | -€18,154 | -6.9% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €469,945 | €268,131 | -€201,814 | -42.9% |
| Amounts payable after more than one year | 17 | €230,492 | €170,661 | -€59,830 | -26.0% |
| Financial debts | 170/4 | €230,492 | €170,661 | -€59,830 | -26.0% |
| Amounts payable within one year | 42/48 | €238,395 | €96,362 | -€142,034 | -59.6% |
| Current portion of amounts payable after more than one year | 42 | €57,683 | €59,830 | +€2,147 | +3.7% |
| Financial debts | 43 | €169,702 | €25,000 | -€144,702 | -85.3% |
| Credit institutions | 430/8 | €169,702 | €25,000 | -€144,702 | -85.3% |
| Trade debts | 44 | €8,281 | €10,600 | +€2,319 | +28.0% |
| Suppliers | 440/4 | €8,281 | €10,600 | +€2,319 | +28.0% |
| Taxes, remuneration and social security | 45 | €2,729 | €931 | -€1,798 | -65.9% |
| Taxes | 450/3 | €2,729 | €931 | -€1,798 | -65.9% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,058 | €1,108 | +€50 | +4.7% |
| Non-recurring operating income | 76A | €1,579 | €0 | -€1,579 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,673 | €35,635 | +€1,963 | +5.8% |
| Other operating charges | 640/8 | €17,458 | €13,087 | -€4,372 | -25.0% |
| Non-recurring operating charges | 66A | €1,306 | €0 | -€1,306 | -100% |
| Gross operating margin | 9900 | -€25,828 | €12,355 | +€38,183 | |
| Operating profit (loss) | 9901 | -€78,265 | -€36,367 | +€41,898 | +53.5% |
| Financial income | 75/76B | €13,419 | €7,461 | -€5,958 | -44.4% |
| Recurring financial income | 75 | €13,419 | €7,461 | -€5,958 | -44.4% |
| Financial charges | 65/66B | €13,872 | €16,701 | +€2,829 | +20.4% |
| Recurring financial charges | 65 | €13,872 | €16,701 | +€2,829 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | -€78,718 | -€45,607 | +€33,111 | +42.1% |
| Transfer from deferred taxes | 780 | €5,259 | €0 | -€5,259 | -100% |
| Income taxes | 67/77 | €163 | €151 | -€12 | -7.2% |
| Profit (loss) for the period | 9904 | -€73,623 | -€45,759 | +€27,864 | +37.8% |
| Transfer from tax-exempt reserves | 789 | €3,635 | €27,604 | +€23,969 | +659% |
| Profit (loss) for the period to be appropriated | 9905 | -€69,988 | -€18,154 | +€51,833 | +74.1% |
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.