BUSINESS UNIT: 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.
BUSINESS UNIT
Largest movements
- Tangible fixed assets -€89,939
down €89,939 (-8.1%), from €1.1m to €1.0m
- Cash +€11,281
up €11,281 (+85.1%), from €13,262 to €24,543
mainly Depreciation (+€89,939) and Accrued charges and deferred income (+€3,353)
- Debts after one year -€42,971
down €42,971 (-3.1%), from €1.4m to €1.4m
of which Financial debts: -€42,971
- Profit (loss) carried forward -€23,558
down €23,558 (-4.6%), from -€517,561 to -€541,120
- Other debts -€14,714
down €14,714 (-24.3%), from €60,469 to €45,755
- Gross operating margin +€16,174
up €16,174 (+19.2%), from €84,153 to €100,327
- Financial charges -€3,676
down €3,676 (-14.6%), from €25,139 to €21,463
- Depreciation -€1,902
down €1,902 (-2.1%), from €91,842 to €89,939
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 | €1,125,614 | €1,047,111 | -€78,503 | -7.0% |
| Fixed assets | 21/28 | €1,110,727 | €1,020,788 | -€89,939 | -8.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,110,727 | €1,020,788 | -€89,939 | -8.1% |
| Land and buildings | 22 | €1,110,727 | €1,020,788 | -€89,939 | -8.1% |
| Current assets | 29/58 | €14,887 | €26,323 | +€11,437 | +76.8% |
| Amounts receivable within one year | 40/41 | €199 | €275 | +€77 | +38.8% |
| Trade receivables | 40 | €135 | €264 | +€129 | +95.6% |
| Other amounts receivable | 41 | €64 | €11 | -€52 | -82.0% |
| Cash at bank and in hand | 54/58 | €13,262 | €24,543 | +€11,281 | +85.1% |
| Deferred charges and accrued income | 490/1 | €1,426 | €1,505 | +€79 | +5.5% |
| Total equity and liabilities | 10/49 | €1,125,614 | €1,047,111 | -€78,503 | -7.0% |
| Equity | 10/15 | -€381,220 | -€404,778 | -€23,558 | -6.2% |
| Contributions | 10/11 | €136,341 | €136,341 | = | 0.0% |
| Capital | 10 | €136,341 | €136,341 | = | 0.0% |
| Issued capital | 100 | €136,341 | €136,341 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€517,561 | -€541,120 | -€23,558 | -4.6% |
| Amounts payable | 17/49 | €1,506,834 | €1,451,889 | -€54,945 | -3.6% |
| Amounts payable after more than one year | 17 | €1,399,892 | €1,356,921 | -€42,971 | -3.1% |
| Financial debts | 170/4 | €1,396,742 | €1,353,771 | -€42,971 | -3.1% |
| Other amounts payable | 178/9 | €3,150 | €3,150 | = | 0.0% |
| Amounts payable within one year | 42/48 | €105,972 | €90,645 | -€15,326 | -14.5% |
| Current portion of amounts payable after more than one year | 42 | €41,927 | €42,971 | +€1,044 | +2.5% |
| Trade debts | 44 | €331 | €818 | +€487 | +147.1% |
| Suppliers | 440/4 | €331 | €818 | +€487 | +147.1% |
| Taxes, remuneration and social security | 45 | €3,244 | €1,101 | -€2,144 | -66.1% |
| Taxes | 450/3 | €3,244 | €1,101 | -€2,144 | -66.1% |
| Other amounts payable | 47/48 | €60,469 | €45,755 | -€14,714 | -24.3% |
| Accrued charges and deferred income | 492/3 | €970 | €4,323 | +€3,353 | +345.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,842 | €89,939 | -€1,902 | -2.1% |
| Other operating charges | 640/8 | €12,144 | €12,512 | +€368 | +3.0% |
| Gross operating margin | 9900 | €84,153 | €100,327 | +€16,174 | +19.2% |
| Operating profit (loss) | 9901 | -€19,833 | -€2,125 | +€17,708 | +89.3% |
| Financial income | 75/76B | €38 | €29 | -€9 | -23.7% |
| Recurring financial income | 75 | €38 | €29 | -€9 | -23.7% |
| Financial charges | 65/66B | €25,139 | €21,463 | -€3,676 | -14.6% |
| Recurring financial charges | 65 | €25,139 | €21,463 | -€3,676 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | -€44,934 | -€23,558 | +€21,376 | +47.6% |
| Profit (loss) for the period | 9904 | -€44,934 | -€23,558 | +€21,376 | +47.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,934 | -€23,558 | +€21,376 | +47.6% |
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 12 October 2026 via checked.be.