B7: 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.
B7
Largest movements
- Cash +€34,904
up €34,904 (+16.3%), from €213,685 to €248,589
mainly Other debts (+€207,085) and Depreciation (+€57,513)
- Intangible fixed assets -€15,000
down €15,000 (-32.0%), from €46,849 to €31,849
- Other debts +€207,085
up €207,085 (+86.4%), from €239,753 to €446,838
- Reserves -€159,926
down €159,926 (-28.9%), from €553,930 to €394,004
of which Distributable reserves: -€159,926
- Debts after one year -€18,991
down €18,991 (-6.3%), from €299,175 to €280,184
of which Financial debts: -€18,991
- Gross operating margin -€20,012
down €20,012 (-13.2%), from €151,353 to €131,341
- Financial charges -€19,402
down €19,402 (-51.7%), from €37,493 to €18,091
- Depreciation +€6,779
up €6,779 (+13.4%), from €50,734 to €57,513
- Taxes -€2,182
down €2,182 (-11.3%), from €19,278 to €17,096
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 | €1,160,097 | €1,187,322 | +€27,225 | +2.3% |
| Fixed assets | 21/28 | €914,422 | €907,624 | -€6,798 | -0.7% |
| Intangible fixed assets | 21 | €46,849 | €31,849 | -€15,000 | -32.0% |
| Tangible fixed assets | 22/27 | €867,573 | €875,775 | +€8,202 | +0.9% |
| Land and buildings | 22 | €787,181 | €775,605 | -€11,576 | -1.5% |
| Plant, machinery and equipment | 23 | €5,938 | €4,203 | -€1,735 | -29.2% |
| Furniture and vehicles | 24 | €573 | €41,142 | +€40,569 | +7,076% |
| Other tangible fixed assets | 26 | €73,881 | €54,825 | -€19,056 | -25.8% |
| Current assets | 29/58 | €245,676 | €279,698 | +€34,022 | +13.8% |
| Stocks and contracts in progress | 3 | €15,905 | €17,857 | +€1,952 | +12.3% |
| Stocks | 30/36 | €15,905 | €17,857 | +€1,952 | +12.3% |
| Amounts receivable within one year | 40/41 | €9,783 | €6,023 | -€3,759 | -38.4% |
| Trade receivables | 40 | €4,060 | €0 | -€4,060 | -100% |
| Other amounts receivable | 41 | €5,723 | €6,023 | +€301 | +5.3% |
| Cash at bank and in hand | 54/58 | €213,685 | €248,589 | +€34,904 | +16.3% |
| Deferred charges and accrued income | 490/1 | €6,304 | €7,229 | +€925 | +14.7% |
| Total equity and liabilities | 10/49 | €1,160,097 | €1,187,322 | +€27,225 | +2.3% |
| Equity | 10/15 | €574,094 | €414,168 | -€159,926 | -27.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €553,930 | €394,004 | -€159,926 | -28.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €553,930 | €394,004 | -€159,926 | -28.9% |
| Profit (loss) carried forward | 14 | €1,564 | €1,564 | = | 0.0% |
| Amounts payable | 17/49 | €586,004 | €773,154 | +€187,151 | +31.9% |
| Amounts payable after more than one year | 17 | €299,175 | €280,184 | -€18,991 | -6.3% |
| Financial debts | 170/4 | €159,175 | €140,184 | -€18,991 | -11.9% |
| Other amounts payable | 178/9 | €140,000 | €140,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €280,168 | €486,099 | +€205,931 | +73.5% |
| Current portion of amounts payable after more than one year | 42 | €18,367 | €18,991 | +€624 | +3.4% |
| Trade debts | 44 | €2,555 | €6,804 | +€4,249 | +166% |
| Suppliers | 440/4 | €2,555 | €6,804 | +€4,249 | +166% |
| Taxes, remuneration and social security | 45 | €19,493 | €13,467 | -€6,027 | -30.9% |
| Taxes | 450/3 | €19,493 | €13,467 | -€6,027 | -30.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €239,753 | €446,838 | +€207,085 | +86.4% |
| Accrued charges and deferred income | 492/3 | €6,661 | €6,872 | +€210 | +3.2% |
| Remuneration, social security and pensions | 62 | €0 | -€142 | -€142 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,734 | €57,513 | +€6,779 | +13.4% |
| Other operating charges | 640/8 | €3,462 | €3,224 | -€238 | -6.9% |
| Gross operating margin | 9900 | €151,353 | €131,341 | -€20,012 | -13.2% |
| Operating profit (loss) | 9901 | €97,156 | €70,746 | -€26,410 | -27.2% |
| Financial income | 75/76B | €0 | €15 | +€15 | |
| Recurring financial income | 75 | €0 | €15 | +€15 | |
| Financial charges | 65/66B | €37,493 | €18,091 | -€19,402 | -51.7% |
| Recurring financial charges | 65 | €37,493 | €18,091 | -€19,402 | -51.7% |
| Profit (loss) for the period before taxes | 9903 | €59,664 | €52,670 | -€6,994 | -11.7% |
| Income taxes | 67/77 | €19,278 | €17,096 | -€2,182 | -11.3% |
| Profit (loss) for the period | 9904 | €40,386 | €35,574 | -€4,812 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,386 | €35,574 | -€4,812 | -11.9% |
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.