BL28: 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.
BL28
Largest movements
- Receivables within one year -€14,816
down €14,816 (-54.4%), from €27,233 to €12,418
of which Trade receivables: -€20,873
- Tangible fixed assets -€11,642
down €11,642 (-10.6%), from €109,437 to €97,795
of which Furniture and vehicles: -€9,378
- Cash +€3,722
up €3,722 (+3.8%), from €98,152 to €101,874
mainly Other debts (+€38,175) and Net result for the year (+€31,001)
- Reserves -€50,519
down €50,519 (-50.1%), from €100,802 to €50,283
- Other debts +€38,175
up €38,175 (+56.5%), from €67,563 to €105,739
- Debts after one year -€12,109
down €12,109 (-38.9%), from €31,120 to €19,011
- Gross operating margin -€22,931
down €22,931 (-25.5%), from €90,087 to €67,156
- Taxes -€5,608
down €5,608 (-37.9%), from €14,803 to €9,195
- Financial charges +€3,167
up €3,167 (+126.4%), from €2,505 to €5,672
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 | €250,254 | €225,929 | -€24,325 | -9.7% |
| Fixed assets | 21/28 | €109,437 | €97,795 | -€11,642 | -10.6% |
| Tangible fixed assets | 22/27 | €109,437 | €97,795 | -€11,642 | -10.6% |
| Furniture and vehicles | 24 | €66,300 | €56,922 | -€9,378 | -14.1% |
| Other tangible fixed assets | 26 | €43,137 | €40,873 | -€2,264 | -5.2% |
| Current assets | 29/58 | €140,817 | €128,133 | -€12,684 | -9.0% |
| Amounts receivable after more than one year | 29 | €12,000 | €12,000 | = | 0.0% |
| Other amounts receivable | 291 | €12,000 | €12,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €27,233 | €12,418 | -€14,816 | -54.4% |
| Trade receivables | 40 | €20,873 | - | -€20,873 | |
| Other amounts receivable | 41 | €6,361 | €12,418 | +€6,057 | +95.2% |
| Cash at bank and in hand | 54/58 | €98,152 | €101,874 | +€3,722 | +3.8% |
| Deferred charges and accrued income | 490/1 | €3,432 | €1,842 | -€1,590 | -46.3% |
| Total equity and liabilities | 10/49 | €250,254 | €225,929 | -€24,325 | -9.7% |
| Equity | 10/15 | €125,502 | €74,983 | -€50,519 | -40.3% |
| Contributions | 10/11 | €24,700 | €24,700 | = | 0.0% |
| Reserves | 13 | €100,802 | €50,283 | -€50,519 | -50.1% |
| Distributable reserves | 133 | €100,802 | €50,283 | -€50,519 | -50.1% |
| Amounts payable | 17/49 | €124,752 | €150,945 | +€26,194 | +21.0% |
| Amounts payable after more than one year | 17 | €31,120 | €19,011 | -€12,109 | -38.9% |
| Financial debts | 170/4 | €31,120 | €19,011 | -€12,109 | -38.9% |
| Amounts payable within one year | 42/48 | €93,632 | €131,911 | +€38,280 | +40.9% |
| Current portion of amounts payable after more than one year | 42 | €11,676 | €12,109 | +€433 | +3.7% |
| Trade debts | 44 | €411 | €244 | -€166 | -40.5% |
| Suppliers | 440/4 | €411 | €244 | -€166 | -40.5% |
| Taxes, remuneration and social security | 45 | €13,982 | €13,819 | -€163 | -1.2% |
| Taxes | 450/3 | €13,982 | €13,819 | -€163 | -1.2% |
| Other amounts payable | 47/48 | €67,563 | €105,739 | +€38,175 | +56.5% |
| Accrued charges and deferred income | 492/3 | - | €23 | +€23 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,745 | €21,441 | +€696 | +3.4% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €90,087 | €67,156 | -€22,931 | -25.5% |
| Operating profit (loss) | 9901 | €68,836 | €45,195 | -€23,642 | -34.3% |
| Financial income | 75/76B | €547 | €673 | +€126 | +23.0% |
| Recurring financial income | 75 | €547 | €673 | +€126 | +23.0% |
| Financial charges | 65/66B | €2,505 | €5,672 | +€3,167 | +126.4% |
| Recurring financial charges | 65 | €2,505 | €5,672 | +€3,167 | +126.4% |
| Profit (loss) for the period before taxes | 9903 | €66,878 | €40,196 | -€26,682 | -39.9% |
| Income taxes | 67/77 | €14,803 | €9,195 | -€5,608 | -37.9% |
| Profit (loss) for the period | 9904 | €52,075 | €31,001 | -€21,074 | -40.5% |
| Profit (loss) for the period to be appropriated | 9905 | €52,075 | €31,001 | -€21,074 | -40.5% |
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 11 October 2026 via checked.be.