BALANCE IT: 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 IT
Largest movements
- Tangible fixed assets +€234,677
up €234,677 (+436%), from €53,810 to €288,487
of which Land and buildings: +€241,790
- Current investments -€35,000
down €35,000 (-43.8%), from €80,000 to €45,000
- Receivables within one year -€13,648
down €13,648 (-38.5%), from €35,407 to €21,760
of which Trade receivables: -€13,650
- Cash +€6,827
up €6,827 (+2,505%), from €273 to €7,100
mainly Debts after one year (+€181,051) and Depreciation (+€55,628)
- Debts after one year +€181,051
up €181,051 (+391%), from €46,287 to €227,337
of which Financial debts: +€167,717
- Current portion of long-term debt +€4,000
new in 2025: €4,000
- Reserves +€3,728
up €3,728 (+5.4%), from €68,677 to €72,404
- Depreciation +€23,633
up €23,633 (+73.9%), from €31,994 to €55,628
- Taxes -€7,933
down €7,933 (-70.8%), from €11,209 to €3,276
- Financial charges +€4,890
up €4,890 (+129%), from €3,803 to €8,693
- Gross operating margin +€1,653
up €1,653 (+2.2%), from €76,080 to €77,733
- Other operating charges +€1,500
up €1,500 (+69.4%), from €2,162 to €3,662
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 | €177,265 | €367,082 | +€189,816 | +107% |
| Fixed assets | 21/28 | €53,810 | €288,487 | +€234,677 | +436% |
| Tangible fixed assets | 22/27 | €53,810 | €288,487 | +€234,677 | +436% |
| Land and buildings | 22 | €35,368 | €277,158 | +€241,790 | +684% |
| Plant, machinery and equipment | 23 | €10,818 | €9,680 | -€1,138 | -10.5% |
| Furniture and vehicles | 24 | €7,624 | €1,649 | -€5,975 | -78.4% |
| Current assets | 29/58 | €123,455 | €78,595 | -€44,861 | -36.3% |
| Amounts receivable within one year | 40/41 | €35,407 | €21,760 | -€13,648 | -38.5% |
| Trade receivables | 40 | €35,407 | €21,757 | -€13,650 | -38.6% |
| Other amounts receivable | 41 | - | €2 | +€2 | |
| Current investments | 50/53 | €80,000 | €45,000 | -€35,000 | -43.8% |
| Cash at bank and in hand | 54/58 | €273 | €7,100 | +€6,827 | +2,505% |
| Deferred charges and accrued income | 490/1 | €7,775 | €4,735 | -€3,040 | -39.1% |
| Total equity and liabilities | 10/49 | €177,265 | €367,082 | +€189,816 | +107% |
| Equity | 10/15 | €87,277 | €91,004 | +€3,728 | +4.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €68,677 | €72,404 | +€3,728 | +5.4% |
| Distributable reserves | 133 | €68,677 | €72,404 | +€3,728 | +5.4% |
| Amounts payable | 17/49 | €89,989 | €276,077 | +€186,089 | +207% |
| Amounts payable after more than one year | 17 | €46,287 | €227,337 | +€181,051 | +391% |
| Financial debts | 170/4 | €46,287 | €214,004 | +€167,717 | +362% |
| Other amounts payable | 178/9 | - | €13,333 | +€13,333 | |
| Amounts payable within one year | 42/48 | €43,702 | €48,740 | +€5,038 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | - | €4,000 | +€4,000 | |
| Financial debts | 43 | €26,556 | €27,094 | +€538 | +2.0% |
| Credit institutions | 430/8 | €26,556 | €27,094 | +€538 | +2.0% |
| Trade debts | 44 | €9,311 | €8,568 | -€742 | -8.0% |
| Suppliers | 440/4 | €9,311 | €8,568 | -€742 | -8.0% |
| Taxes, remuneration and social security | 45 | €7,836 | €9,078 | +€1,243 | +15.9% |
| Taxes | 450/3 | €7,306 | €8,520 | +€1,214 | +16.6% |
| Remuneration and social security | 454/9 | €530 | €559 | +€28 | +5.4% |
| Remuneration, social security and pensions | 62 | €3,148 | €3,262 | +€114 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,994 | €55,628 | +€23,633 | +73.9% |
| Other operating charges | 640/8 | €2,162 | €3,662 | +€1,500 | +69.4% |
| Gross operating margin | 9900 | €76,080 | €77,733 | +€1,653 | +2.2% |
| Operating profit (loss) | 9901 | €38,777 | €15,182 | -€23,595 | -60.8% |
| Financial income | 75/76B | €300 | €514 | +€214 | +71.3% |
| Recurring financial income | 75 | €300 | €514 | +€214 | +71.3% |
| Financial charges | 65/66B | €3,803 | €8,693 | +€4,890 | +129% |
| Recurring financial charges | 65 | €3,803 | €8,693 | +€4,890 | +129% |
| Profit (loss) for the period before taxes | 9903 | €35,274 | €7,003 | -€28,270 | -80.1% |
| Income taxes | 67/77 | €11,209 | €3,276 | -€7,933 | -70.8% |
| Profit (loss) for the period | 9904 | €24,065 | €3,728 | -€20,337 | -84.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,065 | €3,728 | -€20,337 | -84.5% |
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.