CAPITAL EXPENDITURE & PROJECTS: 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.
CAPITAL EXPENDITURE & PROJECTS
Largest movements
- Current investments -€23,729
down €23,729 (-48.8%), from €48,588 to €24,859
- Cash +€5,387
up €5,387 (+33.5%), from €16,101 to €21,489
mainly Other debts (+€25,602) and Current investments (+€23,729)
- Deferred charges and accrued income +€4,408
new in 2025: €4,408
- Receivables within one year +€1,280
up €1,280 (+351%), from €365 to €1,645
of which Other amounts receivable: +€1,280
- Reserves -€32,976
down €32,976 (-52.4%), from €62,976 to €30,000
- Other debts +€25,602
up €25,602 (+4,272%), from €599 to €26,201
- Tax, wage and social debts -€4,417
down €4,417 (-100%), from €4,417 to €0
- Gross operating margin +€22,080
up €22,080 (+92.7%), from -€23,808 to -€1,729
- Depreciation +€900
up €900 (+14.8%), from €6,068 to €6,967
- Financial income +€595
up €595 (+36.0%), from €1,651 to €2,246
- Financial charges -€512
down €512 (-90.0%), from €568 to €57
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 | €72,320 | €60,007 | -€12,313 | -17.0% |
| Fixed assets | 21/28 | €7,266 | €7,607 | +€341 | +4.7% |
| Tangible fixed assets | 22/27 | €7,266 | €7,607 | +€341 | +4.7% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €7,266 | €7,607 | +€341 | +4.7% |
| Current assets | 29/58 | €65,054 | €52,400 | -€12,654 | -19.5% |
| Amounts receivable within one year | 40/41 | €365 | €1,645 | +€1,280 | +351% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €365 | €1,645 | +€1,280 | +351% |
| Current investments | 50/53 | €48,588 | €24,859 | -€23,729 | -48.8% |
| Cash at bank and in hand | 54/58 | €16,101 | €21,489 | +€5,387 | +33.5% |
| Deferred charges and accrued income | 490/1 | - | €4,408 | +€4,408 | |
| Total equity and liabilities | 10/49 | €72,320 | €60,007 | -€12,313 | -17.0% |
| Equity | 10/15 | €65,476 | €32,500 | -€32,976 | -50.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €62,976 | €30,000 | -€32,976 | -52.4% |
| Distributable reserves | 133 | €62,976 | €30,000 | -€32,976 | -52.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €6,844 | €27,507 | +€20,663 | +302% |
| Amounts payable within one year | 42/48 | €6,844 | €27,507 | +€20,663 | +302% |
| Trade debts | 44 | €1,828 | €1,305 | -€522 | -28.6% |
| Suppliers | 440/4 | €1,828 | €1,305 | -€522 | -28.6% |
| Taxes, remuneration and social security | 45 | €4,417 | €0 | -€4,417 | -100% |
| Taxes | 450/3 | €4,417 | €0 | -€4,417 | -100% |
| Other amounts payable | 47/48 | €599 | €26,201 | +€25,602 | +4,272% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,068 | €6,967 | +€900 | +14.8% |
| Other operating charges | 640/8 | €879 | €707 | -€171 | -19.5% |
| Gross operating margin | 9900 | -€23,808 | -€1,729 | +€22,080 | +92.7% |
| Operating profit (loss) | 9901 | -€30,755 | -€9,403 | +€21,351 | +69.4% |
| Financial income | 75/76B | €1,651 | €2,246 | +€595 | +36.0% |
| Recurring financial income | 75 | €1,651 | €2,246 | +€595 | +36.0% |
| Financial charges | 65/66B | €568 | €57 | -€512 | -90.0% |
| Recurring financial charges | 65 | €568 | €57 | -€512 | -90.0% |
| Profit (loss) for the period before taxes | 9903 | -€29,672 | -€7,214 | +€22,458 | +75.7% |
| Income taxes | 67/77 | €128 | €165 | +€37 | +28.9% |
| Profit (loss) for the period | 9904 | -€29,800 | -€7,379 | +€22,421 | +75.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,800 | -€7,379 | +€22,421 | +75.2% |
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 29 October 2026 via checked.be.