BEURSDOK: 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.
BEURSDOK
Largest movements
- Tangible fixed assets +€299,997
up €299,997 (+2917.8%), from €10,282 to €310,279
of which Land and buildings: +€297,084
- Current investments +€38,764
new in 2025: €38,764
- Receivables within one year -€14,184
down €14,184 (-15.7%), from €90,162 to €75,978
of which Trade receivables: -€15,589
- Debts after one year +€179,670
new in 2025: €179,670
- Reserves +€64,305
up €64,305 (+72.1%), from €89,204 to €153,509
- Trade debts +€34,119
up €34,119 (+8746.1%), from €390 to €34,509
- Tax, wage and social debts +€28,870
up €28,870 (+73.8%), from €39,111 to €67,981
- Current portion of long-term debt +€18,294
new in 2025: €18,294
- Depreciation +€27,827
up €27,827 (+2221.9%), from €1,252 to €29,080
- Taxes -€8,228
down €8,228 (-30.1%), from €27,303 to €19,075
- Financial charges +€6,769
up €6,769 (+233.7%), from €2,896 to €9,665
- Gross operating margin +€1,496
up €1,496 (+1.2%), from €122,377 to €123,873
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 | €136,400 | €461,629 | +€325,229 | +238.4% |
| Fixed assets | 21/28 | €11,032 | €311,029 | +€299,997 | +2719.4% |
| Tangible fixed assets | 22/27 | €10,282 | €310,279 | +€299,997 | +2917.8% |
| Land and buildings | 22 | - | €297,084 | +€297,084 | |
| Plant, machinery and equipment | 23 | €3,858 | €7,156 | +€3,297 | +85.5% |
| Furniture and vehicles | 24 | €3,888 | €2,330 | -€1,558 | -40.1% |
| Other tangible fixed assets | 26 | €2,536 | €3,709 | +€1,174 | +46.3% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €125,368 | €150,600 | +€25,231 | +20.1% |
| Amounts receivable within one year | 40/41 | €90,162 | €75,978 | -€14,184 | -15.7% |
| Trade receivables | 40 | €39,827 | €24,237 | -€15,589 | -39.1% |
| Other amounts receivable | 41 | €50,335 | €51,741 | +€1,405 | +2.8% |
| Current investments | 50/53 | - | €38,764 | +€38,764 | |
| Cash at bank and in hand | 54/58 | €34,848 | €34,336 | -€512 | -1.5% |
| Deferred charges and accrued income | 490/1 | €358 | €1,521 | +€1,163 | +324.9% |
| Total equity and liabilities | 10/49 | €136,400 | €461,629 | +€325,229 | +238.4% |
| Equity | 10/15 | €95,204 | €159,509 | +€64,305 | +67.5% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €89,204 | €153,509 | +€64,305 | +72.1% |
| Distributable reserves | 133 | €89,204 | €153,509 | +€64,305 | +72.1% |
| Amounts payable | 17/49 | €41,197 | €302,120 | +€260,923 | +633.4% |
| Amounts payable after more than one year | 17 | - | €179,670 | +€179,670 | |
| Financial debts | 170/4 | - | €179,670 | +€179,670 | |
| Amounts payable within one year | 42/48 | €41,167 | €122,449 | +€81,282 | +197.4% |
| Current portion of amounts payable after more than one year | 42 | - | €18,294 | +€18,294 | |
| Trade debts | 44 | €390 | €34,509 | +€34,119 | +8746.1% |
| Suppliers | 440/4 | €390 | €34,509 | +€34,119 | +8746.1% |
| Taxes, remuneration and social security | 45 | €39,111 | €67,981 | +€28,870 | +73.8% |
| Taxes | 450/3 | €39,111 | €67,981 | +€28,870 | +73.8% |
| Other amounts payable | 47/48 | €1,666 | €1,666 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €30 | - | -€30 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,252 | €29,080 | +€27,827 | +2221.9% |
| Other operating charges | 640/8 | €63 | €793 | +€730 | +1156.6% |
| Gross operating margin | 9900 | €122,377 | €123,873 | +€1,496 | +1.2% |
| Operating profit (loss) | 9901 | €121,061 | €94,000 | -€27,061 | -22.4% |
| Financial income | 75/76B | €7 | €711 | +€704 | +9976.6% |
| Recurring financial income | 75 | €7 | €711 | +€704 | +9976.6% |
| Financial charges | 65/66B | €2,896 | €9,665 | +€6,769 | +233.7% |
| Recurring financial charges | 65 | €2,896 | €9,665 | +€6,769 | +233.7% |
| Profit (loss) for the period before taxes | 9903 | €118,173 | €85,047 | -€33,126 | -28.0% |
| Income taxes | 67/77 | €27,303 | €19,075 | -€8,228 | -30.1% |
| Profit (loss) for the period | 9904 | €90,870 | €65,971 | -€24,898 | -27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €90,870 | €65,971 | -€24,898 | -27.4% |
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 12 October 2026 via checked.be.