BRUSSELS WEST HUB: 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 WEST HUB
Largest movements
- Tangible fixed assets -€52,190
down €52,190 (-2.0%), from €2.6m to €2.6m
of which Land and buildings: -€85,540
- Debts after one year -€83,631
down €83,631 (-3.3%), from €2.5m to €2.4m
of which Financial debts: -€83,631
- Accrued charges and deferred income +€40,030
up €40,030 (+246%), from €16,283 to €56,313
- Current portion of long-term debt +€29,035
up €29,035 (+25.1%), from €115,712 to €144,747
- Financial charges -€74,590
down €74,590 (-37.1%), from €200,784 to €126,194
- Gross operating margin -€18,584
down €18,584 (-8.2%), from €227,705 to €209,122
- Other operating charges +€4,263
up €4,263 (+64.6%), from €6,595 to €10,858
- Depreciation +€3,651
up €3,651 (+3.9%), from €93,903 to €97,555
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 | €2,703,155 | €2,648,904 | -€54,251 | -2.0% |
| Fixed assets | 21/28 | €2,644,659 | €2,592,469 | -€52,190 | -2.0% |
| Tangible fixed assets | 22/27 | €2,644,659 | €2,592,469 | -€52,190 | -2.0% |
| Land and buildings | 22 | €2,642,721 | €2,557,181 | -€85,540 | -3.2% |
| Plant, machinery and equipment | 23 | €1,938 | €35,289 | +€33,351 | +1,721% |
| Current assets | 29/58 | €58,496 | €56,435 | -€2,061 | -3.5% |
| Amounts receivable within one year | 40/41 | €3,000 | €26,933 | +€23,933 | +798% |
| Trade receivables | 40 | €0 | €26,933 | +€26,933 | |
| Other amounts receivable | 41 | €3,000 | €0 | -€3,000 | -100% |
| Cash at bank and in hand | 54/58 | €21,172 | €0 | -€21,172 | -100% |
| Deferred charges and accrued income | 490/1 | €34,324 | €29,502 | -€4,822 | -14.0% |
| Total equity and liabilities | 10/49 | €2,703,155 | €2,648,904 | -€54,251 | -2.0% |
| Equity | 10/15 | -€167,367 | -€192,735 | -€25,367 | -15.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€177,367 | -€202,735 | -€25,367 | -14.3% |
| Amounts payable | 17/49 | €2,870,522 | €2,841,639 | -€28,883 | -1.0% |
| Amounts payable after more than one year | 17 | €2,531,399 | €2,447,768 | -€83,631 | -3.3% |
| Financial debts | 170/4 | €2,519,360 | €2,435,729 | -€83,631 | -3.3% |
| Other amounts payable | 178/9 | €12,039 | €12,039 | = | 0.0% |
| Amounts payable within one year | 42/48 | €322,840 | €337,558 | +€14,718 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €115,712 | €144,747 | +€29,035 | +25.1% |
| Financial debts | 43 | - | €12 | +€12 | |
| Credit institutions | 430/8 | - | €12 | +€12 | |
| Trade debts | 44 | €10,600 | €2,117 | -€8,483 | -80.0% |
| Suppliers | 440/4 | €10,600 | €2,117 | -€8,483 | -80.0% |
| Taxes, remuneration and social security | 45 | €5,318 | €11,682 | +€6,364 | +120% |
| Taxes | 450/3 | €5,318 | €11,682 | +€6,364 | +120% |
| Other amounts payable | 47/48 | €191,210 | €179,000 | -€12,210 | -6.4% |
| Accrued charges and deferred income | 492/3 | €16,283 | €56,313 | +€40,030 | +246% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,903 | €97,555 | +€3,651 | +3.9% |
| Other operating charges | 640/8 | €6,595 | €10,858 | +€4,263 | +64.6% |
| Gross operating margin | 9900 | €227,705 | €209,122 | -€18,584 | -8.2% |
| Operating profit (loss) | 9901 | €127,207 | €100,709 | -€26,498 | -20.8% |
| Financial income | 75/76B | €127 | €117 | -€10 | -7.8% |
| Recurring financial income | 75 | €127 | €117 | -€10 | -7.8% |
| Financial charges | 65/66B | €200,784 | €126,194 | -€74,590 | -37.1% |
| Recurring financial charges | 65 | €200,784 | €126,194 | -€74,590 | -37.1% |
| Profit (loss) for the period before taxes | 9903 | -€73,450 | -€25,367 | +€48,082 | +65.5% |
| Profit (loss) for the period | 9904 | -€73,450 | -€25,367 | +€48,082 | +65.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€73,450 | -€25,367 | +€48,082 | +65.5% |
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 28 October 2026 via checked.be.