BALANCE: 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.
BALANCE
Largest movements
- Tangible fixed assets -€118,608
down €118,608 (-13.3%), from €889,089 to €770,482
of which Other tangible fixed assets: -€116,545
- Receivables within one year +€49,221
up €49,221 (+28.6%), from €171,953 to €221,174
of which Trade receivables: +€70,119
- Debts after one year -€107,138
down €107,138 (-20.3%), from €528,047 to €420,909
of which Other amounts payable: -€100,000
- Other debts +€28,948
up €28,948 (+308%), from €9,395 to €38,342
- Gross operating margin -€4,254
down €4,254 (-3.3%), from €129,035 to €124,781
- Taxes +€1,303
up €1,303 (+45.5%), from €2,867 to €4,171
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 | €1,067,389 | €996,059 | -€71,330 | -6.7% |
| Fixed assets | 21/28 | €889,289 | €770,682 | -€118,608 | -13.3% |
| Tangible fixed assets | 22/27 | €889,089 | €770,482 | -€118,608 | -13.3% |
| Plant, machinery and equipment | 23 | €3,266 | €1,203 | -€2,063 | -63.2% |
| Other tangible fixed assets | 26 | €885,824 | €769,279 | -€116,545 | -13.2% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €178,100 | €225,377 | +€47,277 | +26.5% |
| Amounts receivable within one year | 40/41 | €171,953 | €221,174 | +€49,221 | +28.6% |
| Trade receivables | 40 | €139,001 | €209,120 | +€70,119 | +50.4% |
| Other amounts receivable | 41 | €32,953 | €12,055 | -€20,898 | -63.4% |
| Cash at bank and in hand | 54/58 | €6,147 | €4,203 | -€1,944 | -31.6% |
| Total equity and liabilities | 10/49 | €1,067,389 | €996,059 | -€71,330 | -6.7% |
| Equity | 10/15 | €507,945 | €507,700 | -€245 | 0.0% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €207,945 | €207,700 | -€245 | -0.1% |
| Amounts payable | 17/49 | €559,445 | €488,360 | -€71,085 | -12.7% |
| Amounts payable after more than one year | 17 | €528,047 | €420,909 | -€107,138 | -20.3% |
| Financial debts | 170/4 | €128,047 | €120,909 | -€7,138 | -5.6% |
| Other amounts payable | 178/9 | €400,000 | €300,000 | -€100,000 | -25.0% |
| Amounts payable within one year | 42/48 | €31,397 | €67,450 | +€36,053 | +115% |
| Current portion of amounts payable after more than one year | 42 | €7,398 | €7,138 | -€260 | -3.5% |
| Trade debts | 44 | €14,604 | €19,616 | +€5,011 | +34.3% |
| Suppliers | 440/4 | €14,604 | €19,616 | +€5,011 | +34.3% |
| Taxes, remuneration and social security | 45 | - | €2,354 | +€2,354 | |
| Taxes | 450/3 | - | €2,354 | +€2,354 | |
| Other amounts payable | 47/48 | €9,395 | €38,342 | +€28,948 | +308% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,608 | €118,608 | +€0 | 0.0% |
| Other operating charges | 640/8 | €228 | €120 | -€108 | -47.4% |
| Gross operating margin | 9900 | €129,035 | €124,781 | -€4,254 | -3.3% |
| Operating profit (loss) | 9901 | €10,199 | €6,053 | -€4,146 | -40.6% |
| Financial charges | 65/66B | €2,904 | €2,128 | -€776 | -26.7% |
| Recurring financial charges | 65 | €2,904 | €2,128 | -€776 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €7,295 | €3,925 | -€3,370 | -46.2% |
| Income taxes | 67/77 | €2,867 | €4,171 | +€1,303 | +45.5% |
| Profit (loss) for the period | 9904 | €4,428 | -€245 | -€4,673 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,428 | -€245 | -€4,673 |
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.