Bright-Side: 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.
Bright-Side
Largest movements
- Cash -€35,139
down €35,139 (-26.7%), from €131,533 to €96,394
mainly Investment in fixed assets (net) (-€64,278) and Contributions, distributions and other (-€32,055)
- Receivables within one year -€13,015
down €13,015 (-42.7%), from €30,469 to €17,455
of which Trade receivables: -€13,015
- Tangible fixed assets +€11,141
up €11,141 (+2.4%), from €458,250 to €469,391
of which Land and buildings: +€24,015
- Debts after one year -€28,996
down €28,996 (-8.9%), from €324,083 to €295,087
- Other debts -€21,949
down €21,949 (-14.9%), from €147,249 to €125,300
- Gross operating margin -€25,366
down €25,366 (-17.2%), from €147,759 to €122,393
- Staff costs -€13,256
down €13,256 (-92.0%), from €14,403 to €1,147
- Depreciation -€4,569
down €4,569 (-7.9%), from €57,707 to €53,137
- Financial charges -€4,516
down €4,516 (-24.2%), from €18,642 to €14,126
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.
Derived cash bridge
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 | €634,304 | €594,346 | -€39,958 | -6.3% |
| Fixed assets | 21/28 | €459,750 | €470,891 | +€11,141 | +2.4% |
| Tangible fixed assets | 22/27 | €458,250 | €469,391 | +€11,141 | +2.4% |
| Land and buildings | 22 | €432,174 | €456,190 | +€24,015 | +5.6% |
| Plant, machinery and equipment | 23 | €20,992 | €9,219 | -€11,772 | -56.1% |
| Furniture and vehicles | 24 | €5,084 | €3,982 | -€1,102 | -21.7% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €174,554 | €123,455 | -€51,099 | -29.3% |
| Amounts receivable within one year | 40/41 | €30,469 | €17,455 | -€13,015 | -42.7% |
| Trade receivables | 40 | €30,469 | €17,455 | -€13,015 | -42.7% |
| Other amounts receivable | 41 | €0 | €0 | -€0 | -100% |
| Cash at bank and in hand | 54/58 | €131,533 | €96,394 | -€35,139 | -26.7% |
| Deferred charges and accrued income | 490/1 | €12,551 | €9,606 | -€2,945 | -23.5% |
| Total equity and liabilities | 10/49 | €634,304 | €594,346 | -€39,958 | -6.3% |
| Equity | 10/15 | €77,230 | €80,325 | +€3,096 | +4.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €74,730 | €77,825 | +€3,096 | +4.1% |
| Distributable reserves | 133 | €74,730 | €77,825 | +€3,096 | +4.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €557,074 | €514,021 | -€43,054 | -7.7% |
| Amounts payable after more than one year | 17 | €324,083 | €295,087 | -€28,996 | -8.9% |
| Financial debts | 170/4 | €324,083 | €295,087 | -€28,996 | -8.9% |
| Amounts payable within one year | 42/48 | €219,071 | €208,918 | -€10,153 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €30,990 | €31,395 | +€405 | +1.3% |
| Trade debts | 44 | €8,813 | €14,483 | +€5,671 | +64.3% |
| Suppliers | 440/4 | €8,813 | €14,483 | +€5,671 | +64.3% |
| Advances received on contracts in progress | 46 | €14,143 | €16,328 | +€2,185 | +15.4% |
| Taxes, remuneration and social security | 45 | €17,877 | €21,412 | +€3,535 | +19.8% |
| Taxes | 450/3 | €17,877 | €21,412 | +€3,535 | +19.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €147,249 | €125,300 | -€21,949 | -14.9% |
| Accrued charges and deferred income | 492/3 | €13,920 | €10,015 | -€3,905 | -28.1% |
| Remuneration, social security and pensions | 62 | €14,403 | €1,147 | -€13,256 | -92.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,707 | €53,137 | -€4,569 | -7.9% |
| Other operating charges | 640/8 | €3,012 | €1,604 | -€1,409 | -46.8% |
| Non-recurring operating charges | 66A | - | €791 | +€791 | |
| Gross operating margin | 9900 | €147,759 | €122,393 | -€25,366 | -17.2% |
| Operating profit (loss) | 9901 | €72,637 | €65,713 | -€6,924 | -9.5% |
| Financial income | 75/76B | €7 | €8 | +€1 | +15.3% |
| Recurring financial income | 75 | €7 | €8 | +€1 | +15.3% |
| Financial charges | 65/66B | €18,642 | €14,126 | -€4,516 | -24.2% |
| Recurring financial charges | 65 | €18,642 | €14,126 | -€4,516 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €54,001 | €51,595 | -€2,407 | -4.5% |
| Income taxes | 67/77 | €17,154 | €16,444 | -€710 | -4.1% |
| Profit (loss) for the period | 9904 | €36,848 | €35,150 | -€1,697 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,848 | €35,150 | -€1,697 | -4.6% |
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 31 October 2026 via checked.be.