BLUE: 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.
BLUE
Largest movements
- Tangible fixed assets +€305,447
up €305,447 (+18.5%), from €1.7m to €2.0m
- Cash -€264,004
down €264,004 (-35.4%), from €745,199 to €481,195
mainly Investment in fixed assets (net) (-€383,997) and Debts after one year (-€33,763)
- Debts after one year -€33,763
down €33,763 (-3.5%), from €975,572 to €941,810
- Profit (loss) carried forward +€30,948
up €30,948 (+4.3%), from €717,022 to €747,969
- Gross operating margin -€268,469
down €268,469 (-56.0%), from €479,162 to €210,693
- Financial charges +€20,387
up €20,387 (+41.5%), from €49,164 to €69,551
- Financial income +€19,288
up €19,288 (+572.7%), from €3,368 to €22,656
- Taxes +€7,286
up €7,286 (+197.2%), from €3,695 to €10,982
- Depreciation -€5,871
down €5,871 (-7.0%), from €84,421 to €78,550
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,419,590 | €2,441,679 | +€22,089 | +0.9% |
| Fixed assets | 21/28 | €1,655,037 | €1,960,484 | +€305,447 | +18.5% |
| Tangible fixed assets | 22/27 | €1,655,037 | €1,960,484 | +€305,447 | +18.5% |
| Land and buildings | 22 | €1,655,037 | €1,960,484 | +€305,447 | +18.5% |
| Current assets | 29/58 | €764,553 | €481,195 | -€283,358 | -37.1% |
| Amounts receivable within one year | 40/41 | €18,251 | €0 | -€18,251 | -100.0% |
| Trade receivables | 40 | €18,251 | €0 | -€18,251 | -100.0% |
| Cash at bank and in hand | 54/58 | €745,199 | €481,195 | -€264,004 | -35.4% |
| Deferred charges and accrued income | 490/1 | €1,103 | €0 | -€1,103 | -100.0% |
| Total equity and liabilities | 10/49 | €2,419,590 | €2,441,679 | +€22,089 | +0.9% |
| Equity | 10/15 | €1,262,473 | €1,293,420 | +€30,948 | +2.5% |
| Contributions | 10/11 | €172,165 | €172,165 | = | 0.0% |
| Capital | 10 | €172,165 | €172,165 | = | 0.0% |
| Issued capital | 100 | €172,165 | €172,165 | = | 0.0% |
| Reserves | 13 | €373,286 | €373,286 | = | 0.0% |
| Non-distributable reserves | 130/1 | €153,788 | €153,788 | = | 0.0% |
| Legal reserve | 130 | €153,788 | €153,788 | = | 0.0% |
| Tax-exempt reserves | 132 | €219,497 | €219,497 | = | 0.0% |
| Profit (loss) carried forward | 14 | €717,022 | €747,969 | +€30,948 | +4.3% |
| Provisions and deferred taxes | 16 | €73,166 | €73,166 | = | 0.0% |
| Deferred taxes | 168 | €73,166 | €73,166 | = | 0.0% |
| Amounts payable | 17/49 | €1,083,951 | €1,075,093 | -€8,859 | -0.8% |
| Amounts payable after more than one year | 17 | €975,572 | €941,810 | -€33,763 | -3.5% |
| Financial debts | 170/4 | €975,572 | €941,810 | -€33,763 | -3.5% |
| Amounts payable within one year | 42/48 | €108,379 | €128,189 | +€19,809 | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €75,000 | €75,000 | = | 0.0% |
| Trade debts | 44 | €14,892 | €25,597 | +€10,705 | +71.9% |
| Suppliers | 440/4 | €14,892 | €25,597 | +€10,705 | +71.9% |
| Taxes, remuneration and social security | 45 | €13,674 | €22,264 | +€8,590 | +62.8% |
| Taxes | 450/3 | €13,672 | €18,761 | +€5,089 | +37.2% |
| Remuneration and social security | 454/9 | €2 | €3,502 | +€3,501 | +209616.8% |
| Other amounts payable | 47/48 | €4,813 | €5,328 | +€515 | +10.7% |
| Accrued charges and deferred income | 492/3 | €0 | €5,095 | +€5,095 | |
| Non-recurring operating income | 76A | €292,663 | €0 | -€292,663 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,421 | €78,550 | -€5,871 | -7.0% |
| Other operating charges | 640/8 | €40,397 | €43,320 | +€2,923 | +7.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €479,162 | €210,693 | -€268,469 | -56.0% |
| Operating profit (loss) | 9901 | €354,344 | €88,823 | -€265,521 | -74.9% |
| Financial income | 75/76B | €3,368 | €22,656 | +€19,288 | +572.7% |
| Recurring financial income | 75 | €3,368 | €22,656 | +€19,288 | +572.7% |
| Financial charges | 65/66B | €49,164 | €69,551 | +€20,387 | +41.5% |
| Recurring financial charges | 65 | €49,164 | €69,551 | +€20,387 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | €308,548 | €41,929 | -€266,619 | -86.4% |
| Income taxes | 67/77 | €3,695 | €10,982 | +€7,286 | +197.2% |
| Profit (loss) for the period | 9904 | €304,853 | €30,948 | -€273,905 | -89.8% |
| Transfer to tax-exempt reserves | 689 | €292,663 | €0 | -€292,663 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,189 | €30,948 | +€18,758 | +153.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.