BALANZ: 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.
BALANZ
Largest movements
- Tangible fixed assets -€17,162
down €17,162 (-5.7%), from €300,957 to €283,795
of which Land and buildings: -€19,106
- Receivables within one year +€11,676
up €11,676 (+62.9%), from €18,568 to €30,244
of which Trade receivables: +€6,658
- Cash +€10,178
up €10,178 (+27.1%), from €37,489 to €47,667
mainly Depreciation (+€33,268) and Net result for the year (+€25,399)
- Deferred charges and accrued income +€5,269
up €5,269 (+222.6%), from €2,368 to €7,637
- Debts after one year -€34,220
down €34,220 (-13.6%), from €251,283 to €217,063
- Reserves +€25,500
up €25,500 (+68.0%), from €37,500 to €63,000
- Trade debts +€14,937
up €14,937 (+47.7%), from €31,346 to €46,283
- Tax, wage and social debts +€4,639
up €4,639 (+133.3%), from €3,480 to €8,119
- Gross operating margin +€16,079
up €16,079 (+26.2%), from €61,423 to €77,503
- Taxes +€5,270
up €5,270 (+101.5%), from €5,190 to €10,459
- Depreciation -€2,875
down €2,875 (-8.0%), from €36,143 to €33,268
- Financial charges -€1,132
down €1,132 (-24.1%), from €4,690 to €3,558
of which Financial charges: -€1,062
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 | €359,482 | €369,444 | +€9,962 | +2.8% |
| Fixed assets | 21/28 | €301,057 | €283,895 | -€17,162 | -5.7% |
| Tangible fixed assets | 22/27 | €300,957 | €283,795 | -€17,162 | -5.7% |
| Land and buildings | 22 | €273,331 | €254,225 | -€19,106 | -7.0% |
| Plant, machinery and equipment | 23 | €12,584 | €18,939 | +€6,355 | +50.5% |
| Furniture and vehicles | 24 | €15,043 | €10,631 | -€4,411 | -29.3% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €58,424 | €85,548 | +€27,124 | +46.4% |
| Amounts receivable within one year | 40/41 | €18,568 | €30,244 | +€11,676 | +62.9% |
| Trade receivables | 40 | €16,127 | €22,785 | +€6,658 | +41.3% |
| Other amounts receivable | 41 | €2,441 | €7,460 | +€5,019 | +205.6% |
| Cash at bank and in hand | 54/58 | €37,489 | €47,667 | +€10,178 | +27.1% |
| Deferred charges and accrued income | 490/1 | €2,368 | €7,637 | +€5,269 | +222.6% |
| Total equity and liabilities | 10/49 | €359,482 | €369,444 | +€9,962 | +2.8% |
| Equity | 10/15 | €56,210 | €81,609 | +€25,399 | +45.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €37,500 | €63,000 | +€25,500 | +68.0% |
| Distributable reserves | 133 | €37,500 | €63,000 | +€25,500 | +68.0% |
| Profit (loss) carried forward | 14 | €110 | €9 | -€101 | -91.8% |
| Amounts payable | 17/49 | €303,271 | €287,835 | -€15,437 | -5.1% |
| Amounts payable after more than one year | 17 | €251,283 | €217,063 | -€34,220 | -13.6% |
| Financial debts | 170/4 | €251,283 | €217,063 | -€34,220 | -13.6% |
| Amounts payable within one year | 42/48 | €51,989 | €70,771 | +€18,783 | +36.1% |
| Current portion of amounts payable after more than one year | 42 | €14,058 | €14,220 | +€161 | +1.1% |
| Trade debts | 44 | €31,346 | €46,283 | +€14,937 | +47.7% |
| Suppliers | 440/4 | €31,346 | €46,283 | +€14,937 | +47.7% |
| Advances received on contracts in progress | 46 | - | €2,150 | +€2,150 | |
| Taxes, remuneration and social security | 45 | €3,480 | €8,119 | +€4,639 | +133.3% |
| Taxes | 450/3 | €3,480 | €8,119 | +€4,639 | +133.3% |
| Other amounts payable | 47/48 | €3,105 | - | -€3,105 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,143 | €33,268 | -€2,875 | -8.0% |
| Other operating charges | 640/8 | €4,657 | €4,820 | +€163 | +3.5% |
| Gross operating margin | 9900 | €61,423 | €77,503 | +€16,079 | +26.2% |
| Operating profit (loss) | 9901 | €20,624 | €39,415 | +€18,791 | +91.1% |
| Financial income | 75/76B | €15 | €1 | -€14 | -91.2% |
| Recurring financial income | 75 | €15 | €1 | -€14 | -91.2% |
| Financial charges | 65/66B | €4,690 | €3,558 | -€1,132 | -24.1% |
| Recurring financial charges | 65 | €4,620 | €3,558 | -€1,062 | -23.0% |
| Non-recurring financial charges | 66B | €70 | - | -€70 | |
| Profit (loss) for the period before taxes | 9903 | €15,949 | €35,858 | +€19,909 | +124.8% |
| Income taxes | 67/77 | €5,190 | €10,459 | +€5,270 | +101.5% |
| Profit (loss) for the period | 9904 | €10,759 | €25,399 | +€14,640 | +136.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,759 | €25,399 | +€14,640 | +136.1% |
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 11 October 2026 via checked.be.