BUTTONS: 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.
BUTTONS
Largest movements
- Tangible fixed assets -€67,118
down €67,118 (-10.7%), from €627,216 to €560,098
of which Land and buildings: -€64,107
- Stocks and contracts +€58,000
up €58,000 (+25.8%), from €224,901 to €282,901
- Deferred charges and accrued income -€35,285
down €35,285 (-85.3%), from €41,346 to €6,061
- Debts after one year -€47,630
down €47,630 (-8.1%), from €589,583 to €541,953
- Other debts +€42,671
new in 2025: €42,671
- Reserves -€39,000
down €39,000 (-40.6%), from €96,099 to €57,099
- Current portion of long-term debt -€25,556
down €25,556 (-30.2%), from €84,738 to €59,182
- Tax, wage and social debts +€12,169
up €12,169 (+38.0%), from €32,062 to €44,232
of which Taxes: +€7,326
- Gross operating margin -€20,410
down €20,410 (-11.8%), from €172,955 to €152,545
- Staff costs +€14,343
up €14,343 (+34.7%), from €41,395 to €55,738
- Taxes -€3,537
down €3,537 (-54.1%), from €6,537 to €3,000
- Financial charges -€1,935
down €1,935 (-7.6%), from €25,318 to €23,384
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 | €943,408 | €887,669 | -€55,739 | -5.9% |
| Fixed assets | 21/28 | €627,241 | €560,098 | -€67,143 | -10.7% |
| Tangible fixed assets | 22/27 | €627,216 | €560,098 | -€67,118 | -10.7% |
| Land and buildings | 22 | €616,955 | €552,848 | -€64,107 | -10.4% |
| Plant, machinery and equipment | 23 | €815 | €79 | -€737 | -90.3% |
| Furniture and vehicles | 24 | €9,446 | €7,171 | -€2,275 | -24.1% |
| Financial fixed assets | 28 | €25 | - | -€25 | |
| Current assets | 29/58 | €316,167 | €327,570 | +€11,403 | +3.6% |
| Stocks and contracts in progress | 3 | €224,901 | €282,901 | +€58,000 | +25.8% |
| Stocks | 30/36 | €224,901 | €282,901 | +€58,000 | +25.8% |
| Amounts receivable within one year | 40/41 | €10,531 | €5,308 | -€5,223 | -49.6% |
| Trade receivables | 40 | - | €4,814 | +€4,814 | |
| Other amounts receivable | 41 | €10,531 | €494 | -€10,037 | -95.3% |
| Cash at bank and in hand | 54/58 | €39,389 | €33,300 | -€6,089 | -15.5% |
| Deferred charges and accrued income | 490/1 | €41,346 | €6,061 | -€35,285 | -85.3% |
| Total equity and liabilities | 10/49 | €943,408 | €887,669 | -€55,739 | -5.9% |
| Equity | 10/15 | €214,313 | €171,288 | -€43,025 | -20.1% |
| Contributions | 10/11 | €68,171 | €68,171 | = | 0.0% |
| Reserves | 13 | €96,099 | €57,099 | -€39,000 | -40.6% |
| Distributable reserves | 133 | €96,099 | €57,099 | -€39,000 | -40.6% |
| Profit (loss) carried forward | 14 | €27,643 | €26,818 | -€825 | -3.0% |
| Investment grants | 15 | €22,400 | €19,200 | -€3,200 | -14.3% |
| Provisions and deferred taxes | 16 | €5,600 | €4,800 | -€800 | -14.3% |
| Deferred taxes | 168 | €5,600 | €4,800 | -€800 | -14.3% |
| Amounts payable | 17/49 | €723,495 | €711,581 | -€11,914 | -1.6% |
| Amounts payable after more than one year | 17 | €589,583 | €541,953 | -€47,630 | -8.1% |
| Financial debts | 170/4 | €589,583 | €541,953 | -€47,630 | -8.1% |
| Amounts payable within one year | 42/48 | €133,788 | €169,628 | +€35,840 | +26.8% |
| Current portion of amounts payable after more than one year | 42 | €84,738 | €59,182 | -€25,556 | -30.2% |
| Trade debts | 44 | €16,988 | €23,543 | +€6,555 | +38.6% |
| Suppliers | 440/4 | €16,988 | €23,543 | +€6,555 | +38.6% |
| Taxes, remuneration and social security | 45 | €32,062 | €44,232 | +€12,169 | +38.0% |
| Taxes | 450/3 | €29,069 | €36,395 | +€7,326 | +25.2% |
| Remuneration and social security | 454/9 | €2,993 | €7,836 | +€4,843 | +162% |
| Other amounts payable | 47/48 | - | €42,671 | +€42,671 | |
| Accrued charges and deferred income | 492/3 | €124 | - | -€124 | |
| Remuneration, social security and pensions | 62 | €41,395 | €55,738 | +€14,343 | +34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,900 | €69,903 | +€3 | 0.0% |
| Other operating charges | 640/8 | €5,547 | €5,926 | +€380 | +6.8% |
| Gross operating margin | 9900 | €172,955 | €152,545 | -€20,410 | -11.8% |
| Operating profit (loss) | 9901 | €56,114 | €20,978 | -€35,136 | -62.6% |
| Financial income | 75/76B | €3,741 | €3,780 | +€40 | +1.1% |
| Recurring financial income | 75 | €3,741 | €3,780 | +€40 | +1.1% |
| Financial charges | 65/66B | €25,318 | €23,384 | -€1,935 | -7.6% |
| Recurring financial charges | 65 | €25,318 | €23,384 | -€1,935 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €34,536 | €1,375 | -€33,162 | -96.0% |
| Transfer from deferred taxes | 780 | €800 | €800 | = | 0.0% |
| Income taxes | 67/77 | €6,537 | €3,000 | -€3,537 | -54.1% |
| Profit (loss) for the period | 9904 | €28,799 | -€825 | -€29,625 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,799 | -€825 | -€29,625 |
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 25 October 2026 via checked.be.