Billion: what changed
Two fiscal 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.
Billion
Largest movements
- Tangible fixed assets -€8,829
down €8,829 (-52.6%), from €16,770 to €7,941
of which Furniture and vehicles: -€4,703
- Stocks and contracts +€3,650
up €3,650 (+4.4%), from €82,326 to €85,976
- Cash -€2,513
down €2,513 (-34.9%), from €7,210 to €4,697
mainly Net result for the year (-€20,425) and Stocks and contracts (-€3,650)
- Profit (loss) carried forward -€20,425
down €20,425 (-40.8%), from -€50,031 to -€70,457
- Other debts +€13,715
up €13,715 (+20.5%), from €66,992 to €80,707
- Trade debts -€2,655
down €2,655 (-19.7%), from €13,498 to €10,843
- Gross operating margin +€9,378
up €9,378 (+46.6%), from €20,108 to €29,486
- Write-downs +€5,139
up €5,139 (+76.6%), from -€6,706 to -€1,568
- Staff costs +€1,889
up €1,889 (+4.8%), from €39,291 to €41,180
- Depreciation -€1,052
down €1,052 (-10.0%), from €10,520 to €9,468
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 | €170,367 | €162,953 | -€7,414 | -4.4% |
| Fixed assets | 21/28 | €22,122 | €12,654 | -€9,468 | -42.8% |
| Intangible fixed assets | 21 | €852 | €213 | -€639 | -75.0% |
| Tangible fixed assets | 22/27 | €16,770 | €7,941 | -€8,829 | -52.6% |
| Land and buildings | 22 | €4,314 | €366 | -€3,948 | -91.5% |
| Plant, machinery and equipment | 23 | €538 | €360 | -€178 | -33.1% |
| Furniture and vehicles | 24 | €11,918 | €7,215 | -€4,703 | -39.5% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €148,245 | €150,299 | +€2,054 | +1.4% |
| Stocks and contracts in progress | 3 | €82,326 | €85,976 | +€3,650 | +4.4% |
| Stocks | 30/36 | €82,326 | €85,976 | +€3,650 | +4.4% |
| Amounts receivable within one year | 40/41 | €54,696 | €56,248 | +€1,552 | +2.8% |
| Trade receivables | 40 | €324 | - | -€324 | |
| Other amounts receivable | 41 | €54,372 | €56,248 | +€1,876 | +3.4% |
| Cash at bank and in hand | 54/58 | €7,210 | €4,697 | -€2,513 | -34.9% |
| Deferred charges and accrued income | 490/1 | €4,013 | €3,377 | -€635 | -15.8% |
| Total equity and liabilities | 10/49 | €170,367 | €162,953 | -€7,414 | -4.4% |
| Equity | 10/15 | €73,006 | €52,581 | -€20,425 | -28.0% |
| Contributions | 10/11 | €67,400 | €67,400 | = | 0.0% |
| Reserves | 13 | €55,638 | €55,638 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,110 | €2,110 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,110 | €2,110 | = | 0.0% |
| Tax-exempt reserves | 132 | €401 | €401 | = | 0.0% |
| Distributable reserves | 133 | €53,126 | €53,126 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,031 | -€70,457 | -€20,425 | -40.8% |
| Amounts payable | 17/49 | €97,360 | €110,372 | +€13,011 | +13.4% |
| Amounts payable within one year | 42/48 | €95,805 | €108,389 | +€12,584 | +13.1% |
| Trade debts | 44 | €13,498 | €10,843 | -€2,655 | -19.7% |
| Suppliers | 440/4 | €13,498 | €10,843 | -€2,655 | -19.7% |
| Taxes, remuneration and social security | 45 | €15,316 | €16,840 | +€1,524 | +10.0% |
| Taxes | 450/3 | €11,676 | €13,011 | +€1,335 | +11.4% |
| Remuneration and social security | 454/9 | €3,640 | €3,829 | +€189 | +5.2% |
| Other amounts payable | 47/48 | €66,992 | €80,707 | +€13,715 | +20.5% |
| Accrued charges and deferred income | 492/3 | €1,556 | €1,982 | +€427 | +27.4% |
| Remuneration, social security and pensions | 62 | €39,291 | €41,180 | +€1,889 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,520 | €9,468 | -€1,052 | -10.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,706 | -€1,568 | +€5,139 | +76.6% |
| Other operating charges | 640/8 | €1,688 | €1,569 | -€119 | -7.0% |
| Gross operating margin | 9900 | €20,108 | €29,486 | +€9,378 | +46.6% |
| Operating profit (loss) | 9901 | -€24,685 | -€21,163 | +€3,522 | +14.3% |
| Financial income | 75/76B | €1,551 | €1,789 | +€238 | +15.3% |
| Recurring financial income | 75 | €1,551 | €1,789 | +€238 | +15.3% |
| Financial charges | 65/66B | €833 | €1,051 | +€218 | +26.1% |
| Recurring financial charges | 65 | €833 | €1,051 | +€218 | +26.1% |
| Profit (loss) for the period before taxes | 9903 | -€23,967 | -€20,425 | +€3,542 | +14.8% |
| Profit (loss) for the period | 9904 | -€23,967 | -€20,425 | +€3,542 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,967 | -€20,425 | +€3,542 | +14.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.