BODY LINE: 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.
BODY LINE
Largest movements
- Tangible fixed assets -€26,842
down €26,842 (-3.3%), from €801,963 to €775,121
of which Land and buildings: -€21,892
- Debts after one year -€24,641
down €24,641 (-5.3%), from €461,029 to €436,389
of which Financial debts: -€24,641
- Reserves -€14,040
down €14,040 (-3.6%), from €387,258 to €373,218
of which Tax-exempt reserves: -€14,040
- Profit (loss) carried forward +€13,693
up €13,693 (+5.7%), from -€240,000 to -€226,306
- Gross operating margin +€11,112
up €11,112 (+29.7%), from €37,414 to €48,526
- Taxes +€3,054
up €3,054 (+77.9%), from €3,921 to €6,975
- Other operating charges +€1,907
up €1,907 (+40.9%), from €4,663 to €6,569
- Financial charges -€1,398
down €1,398 (-12.2%), from €11,479 to €10,082
- Depreciation +€1,348
up €1,348 (+4.7%), from €28,579 to €29,927
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 | €810,052 | €784,489 | -€25,563 | -3.2% |
| Fixed assets | 21/28 | €801,963 | €775,121 | -€26,842 | -3.3% |
| Tangible fixed assets | 22/27 | €801,963 | €775,121 | -€26,842 | -3.3% |
| Land and buildings | 22 | €726,212 | €704,320 | -€21,892 | -3.0% |
| Plant, machinery and equipment | 23 | €75,751 | €70,801 | -€4,950 | -6.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €8,089 | €9,368 | +€1,279 | +15.8% |
| Amounts receivable within one year | 40/41 | €5,863 | €8,198 | +€2,335 | +39.8% |
| Trade receivables | 40 | €5,863 | €8,198 | +€2,335 | +39.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €2,226 | €1,170 | -€1,056 | -47.4% |
| Total equity and liabilities | 10/49 | €810,052 | €784,489 | -€25,563 | -3.2% |
| Equity | 10/15 | €165,850 | €165,503 | -€347 | -0.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €387,258 | €373,218 | -€14,040 | -3.6% |
| Tax-exempt reserves | 132 | €341,283 | €327,243 | -€14,040 | -4.1% |
| Distributable reserves | 133 | €45,975 | €45,975 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€240,000 | -€226,306 | +€13,693 | +5.7% |
| Provisions and deferred taxes | 16 | €113,761 | €109,081 | -€4,680 | -4.1% |
| Deferred taxes | 168 | €113,761 | €109,081 | -€4,680 | -4.1% |
| Amounts payable | 17/49 | €530,441 | €509,905 | -€20,536 | -3.9% |
| Amounts payable after more than one year | 17 | €461,029 | €436,389 | -€24,641 | -5.3% |
| Financial debts | 170/4 | €451,029 | €426,389 | -€24,641 | -5.5% |
| Other amounts payable | 178/9 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €64,530 | €64,211 | -€319 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €24,193 | €24,641 | +€448 | +1.9% |
| Trade debts | 44 | €2,103 | €2,761 | +€658 | +31.3% |
| Suppliers | 440/4 | €2,103 | €2,761 | +€658 | +31.3% |
| Taxes, remuneration and social security | 45 | €16,932 | €20,902 | +€3,969 | +23.4% |
| Taxes | 450/3 | €6,932 | €10,902 | +€3,969 | +57.3% |
| Remuneration and social security | 454/9 | €10,000 | €10,000 | = | 0.0% |
| Other amounts payable | 47/48 | €21,301 | €15,908 | -€5,393 | -25.3% |
| Accrued charges and deferred income | 492/3 | €4,882 | €9,306 | +€4,423 | +90.6% |
| Non-recurring operating income | 76A | €5,632 | €0 | -€5,632 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,579 | €29,927 | +€1,348 | +4.7% |
| Other operating charges | 640/8 | €4,663 | €6,569 | +€1,907 | +40.9% |
| Gross operating margin | 9900 | €37,414 | €48,526 | +€11,112 | +29.7% |
| Operating profit (loss) | 9901 | €4,172 | €12,029 | +€7,857 | +188.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €11,479 | €10,082 | -€1,398 | -12.2% |
| Recurring financial charges | 65 | €11,479 | €10,082 | -€1,398 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | -€7,307 | €1,948 | +€9,255 | |
| Transfer from deferred taxes | 780 | €4,680 | €4,680 | -€0 | 0.0% |
| Income taxes | 67/77 | €3,921 | €6,975 | +€3,054 | +77.9% |
| Profit (loss) for the period | 9904 | -€6,548 | -€347 | +€6,201 | +94.7% |
| Transfer from tax-exempt reserves | 789 | €14,040 | €14,040 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,492 | €13,693 | +€6,201 | +82.8% |
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 7 October 2026 via checked.be.