BO +: 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.
BO +
Largest movements
- Tangible fixed assets +€70,668
up €70,668 (+32.9%), from €214,983 to €285,651
of which Land and buildings: +€73,198
- Receivables within one year -€44,558
down €44,558 (-55.0%), from €81,064 to €36,506
of which Trade receivables: -€40,941
- Cash -€7,176
down €7,176 (-3.9%), from €182,132 to €174,956
mainly Investment in fixed assets (net) (-€83,393) and Other debts (-€61,916)
- Other debts -€61,916
down €61,916 (-52.6%), from €117,749 to €55,833
- Debts after one year +€51,423
up €51,423 (+22.3%), from €230,745 to €282,168
of which Other amounts payable: +€65,294
- Profit (loss) carried forward +€45,313
up €45,313 (+83.7%), from €54,159 to €99,472
- Trade debts -€19,080
down €19,080 (-41.7%), from €45,745 to €26,665
- Gross operating margin -€17,513
down €17,513 (-16.1%), from €109,026 to €91,513
- Depreciation -€5,524
down €5,524 (-30.3%), from €18,249 to €12,725
- Taxes -€4,670
down €4,670 (-28.0%), from €16,673 to €12,002
- Other operating charges -€3,853
down €3,853 (-32.5%), from €11,872 to €8,019
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 | €484,388 | €499,651 | +€15,264 | +3.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €214,983 | €285,651 | +€70,668 | +32.9% |
| Tangible fixed assets | 22/27 | €214,983 | €285,651 | +€70,668 | +32.9% |
| Land and buildings | 22 | €193,589 | €266,787 | +€73,198 | +37.8% |
| Plant, machinery and equipment | 23 | €8,854 | €4,927 | -€3,927 | -44.4% |
| Furniture and vehicles | 24 | €12,539 | €13,936 | +€1,397 | +11.1% |
| Current assets | 29/58 | €269,405 | €214,001 | -€55,404 | -20.6% |
| Amounts receivable within one year | 40/41 | €81,064 | €36,506 | -€44,558 | -55.0% |
| Trade receivables | 40 | €77,446 | €36,506 | -€40,941 | -52.9% |
| Other amounts receivable | 41 | €3,617 | €0 | -€3,617 | -100.0% |
| Cash at bank and in hand | 54/58 | €182,132 | €174,956 | -€7,176 | -3.9% |
| Deferred charges and accrued income | 490/1 | €6,209 | €2,539 | -€3,671 | -59.1% |
| Total equity and liabilities | 10/49 | €484,388 | €499,651 | +€15,264 | +3.2% |
| Equity | 10/15 | €64,159 | €109,472 | +€45,313 | +70.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,159 | €99,472 | +€45,313 | +83.7% |
| Amounts payable | 17/49 | €420,229 | €390,179 | -€30,050 | -7.2% |
| Amounts payable after more than one year | 17 | €230,745 | €282,168 | +€51,423 | +22.3% |
| Financial debts | 170/4 | €134,988 | €121,117 | -€13,871 | -10.3% |
| Other amounts payable | 178/9 | €95,757 | €161,052 | +€65,294 | +68.2% |
| Amounts payable within one year | 42/48 | €189,484 | €108,011 | -€81,473 | -43.0% |
| Current portion of amounts payable after more than one year | 42 | €16,416 | €12,990 | -€3,426 | -20.9% |
| Financial debts | 43 | €398 | €507 | +€110 | +27.5% |
| Credit institutions | 430/8 | €398 | €507 | +€110 | +27.5% |
| Trade debts | 44 | €45,745 | €26,665 | -€19,080 | -41.7% |
| Suppliers | 440/4 | €45,745 | €26,665 | -€19,080 | -41.7% |
| Taxes, remuneration and social security | 45 | €9,176 | €12,015 | +€2,839 | +30.9% |
| Taxes | 450/3 | €7,390 | €10,215 | +€2,826 | +38.2% |
| Remuneration and social security | 454/9 | €1,786 | €1,800 | +€14 | +0.8% |
| Other amounts payable | 47/48 | €117,749 | €55,833 | -€61,916 | -52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,249 | €12,725 | -€5,524 | -30.3% |
| Other operating charges | 640/8 | €11,872 | €8,019 | -€3,853 | -32.5% |
| Non-recurring operating charges | 66A | €794 | €1,268 | +€474 | +59.7% |
| Gross operating margin | 9900 | €109,026 | €91,513 | -€17,513 | -16.1% |
| Operating profit (loss) | 9901 | €78,111 | €69,501 | -€8,610 | -11.0% |
| Financial income | 75/76B | €261 | €358 | +€96 | +37.0% |
| Recurring financial income | 75 | €261 | €358 | +€96 | +37.0% |
| Financial charges | 65/66B | €6,682 | €6,710 | +€28 | +0.4% |
| Recurring financial charges | 65 | €6,682 | €6,710 | +€28 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €71,690 | €63,149 | -€8,542 | -11.9% |
| Income taxes | 67/77 | €16,673 | €12,002 | -€4,670 | -28.0% |
| Profit (loss) for the period | 9904 | €55,018 | €51,146 | -€3,871 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €55,018 | €51,146 | -€3,871 | -7.0% |
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.