BRUSSELS BARBELL: 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.
BRUSSELS BARBELL
Largest movements
- Tangible fixed assets -€43,716
down €43,716 (-7.0%), from €628,777 to €585,061
of which Plant, machinery and equipment: -€25,446
- Cash +€9,020
up €9,020 (+107%), from €8,440 to €17,460
mainly Depreciation (+€43,716) and Debts after one year (+€35,387)
- Profit (loss) carried forward -€49,473
down €49,473, from €7,135 to -€42,338
- Debts after one year +€35,387
up €35,387 (+7.4%), from €478,818 to €514,205
- Short-term financial debts -€15,664
down €15,664 (-27.8%), from €56,346 to €40,682
- Trade debts +€6,566
up €6,566 (+89.8%), from €7,309 to €13,875
- Financial charges +€79,232
up €79,232 (+1,786%), from €4,437 to €83,669
- Gross operating margin +€63,493
up €63,493 (+427%), from €14,875 to €78,368
- Depreciation +€3,708
up €3,708 (+9.3%), from €40,008 to €43,716
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 | €642,586 | €606,827 | -€35,759 | -5.6% |
| Fixed assets | 21/28 | €628,777 | €585,061 | -€43,716 | -7.0% |
| Tangible fixed assets | 22/27 | €628,777 | €585,061 | -€43,716 | -7.0% |
| Land and buildings | 22 | €576,242 | €557,972 | -€18,270 | -3.2% |
| Plant, machinery and equipment | 23 | €52,535 | €27,089 | -€25,446 | -48.4% |
| Current assets | 29/58 | €13,809 | €21,766 | +€7,957 | +57.6% |
| Amounts receivable within one year | 40/41 | €5,369 | €4,306 | -€1,063 | -19.8% |
| Other amounts receivable | 41 | €5,369 | €4,306 | -€1,063 | -19.8% |
| Cash at bank and in hand | 54/58 | €8,440 | €17,460 | +€9,020 | +107% |
| Total equity and liabilities | 10/49 | €642,586 | €606,827 | -€35,759 | -5.6% |
| Equity | 10/15 | €7,235 | -€42,238 | -€49,473 | |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,135 | -€42,338 | -€49,473 | |
| Amounts payable | 17/49 | €635,351 | €649,065 | +€13,714 | +2.2% |
| Amounts payable after more than one year | 17 | €478,818 | €514,205 | +€35,387 | +7.4% |
| Financial debts | 170/4 | €478,818 | €514,205 | +€35,387 | +7.4% |
| Amounts payable within one year | 42/48 | €156,533 | €134,860 | -€21,673 | -13.8% |
| Financial debts | 43 | €56,346 | €40,682 | -€15,664 | -27.8% |
| Credit institutions | 430/8 | €56,346 | €40,682 | -€15,664 | -27.8% |
| Trade debts | 44 | €7,309 | €13,875 | +€6,566 | +89.8% |
| Suppliers | 440/4 | €7,309 | €13,875 | +€6,566 | +89.8% |
| Taxes, remuneration and social security | 45 | €6,410 | - | -€6,410 | |
| Taxes | 450/3 | €6,410 | - | -€6,410 | |
| Other amounts payable | 47/48 | €86,468 | €80,303 | -€6,165 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,008 | €43,716 | +€3,708 | +9.3% |
| Other operating charges | 640/8 | €772 | €456 | -€316 | -40.9% |
| Gross operating margin | 9900 | €14,875 | €78,368 | +€63,493 | +427% |
| Operating profit (loss) | 9901 | -€25,905 | €34,196 | +€60,101 | |
| Financial charges | 65/66B | €4,437 | €83,669 | +€79,232 | +1,786% |
| Recurring financial charges | 65 | €4,437 | €83,669 | +€79,232 | +1,786% |
| Profit (loss) for the period before taxes | 9903 | -€30,342 | -€49,473 | -€19,131 | -63.1% |
| Profit (loss) for the period | 9904 | -€30,342 | -€49,473 | -€19,131 | -63.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,342 | -€49,473 | -€19,131 | -63.1% |
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 27 October 2026 via checked.be.