Center Stage: 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.
Center Stage
Largest movements
- Tangible fixed assets +€118,285
up €118,285 (+283%), from €41,855 to €160,140
of which Land and buildings: +€113,066
- Cash +€5,894
up €5,894 (+108%), from €5,447 to €11,341
mainly Debts after one year (+€91,611) and Depreciation (+€21,601)
- Debts after one year +€91,611
new in 2025: €91,611
- Tax, wage and social debts +€17,488
new in 2025: €17,488
of which Remuneration and social security: +€9,136
- Contributions -€15,000
down €15,000 (-75.0%), from €20,000 to €5,000
- Trade debts +€12,772
up €12,772 (+722%), from €1,770 to €14,542
- Profit (loss) carried forward +€8,998
up €8,998, from -€7,513 to €1,485
- Gross operating margin +€34,292
up €34,292 (+66.7%), from €51,426 to €85,718
- Depreciation +€12,655
up €12,655 (+141%), from €8,946 to €21,601
- Staff costs +€10,768
up €10,768 (+27.4%), from €39,301 to €50,068
- Taxes +€1,791
new in 2025: €1,791
- Financial charges +€1,015
up €1,015 (+155%), from €653 to €1,668
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 | €106,587 | €231,949 | +€125,362 | +118% |
| Fixed assets | 21/28 | €41,855 | €160,140 | +€118,285 | +283% |
| Tangible fixed assets | 22/27 | €41,855 | €160,140 | +€118,285 | +283% |
| Land and buildings | 22 | - | €113,066 | +€113,066 | |
| Furniture and vehicles | 24 | €24,105 | €31,622 | +€7,517 | +31.2% |
| Other tangible fixed assets | 26 | €17,750 | €15,452 | -€2,298 | -12.9% |
| Current assets | 29/58 | €64,732 | €71,809 | +€7,076 | +10.9% |
| Amounts receivable within one year | 40/41 | €59,045 | €59,047 | +€3 | 0.0% |
| Trade receivables | 40 | €57,567 | €50,838 | -€6,728 | -11.7% |
| Other amounts receivable | 41 | €1,478 | €8,209 | +€6,731 | +455% |
| Cash at bank and in hand | 54/58 | €5,447 | €11,341 | +€5,894 | +108% |
| Deferred charges and accrued income | 490/1 | €241 | €1,421 | +€1,180 | +490% |
| Total equity and liabilities | 10/49 | €106,587 | €231,949 | +€125,362 | +118% |
| Equity | 10/15 | €12,687 | €6,685 | -€6,002 | -47.3% |
| Contributions | 10/11 | €20,000 | €5,000 | -€15,000 | -75.0% |
| Reserves | 13 | €200 | €200 | = | 0.0% |
| Distributable reserves | 133 | €200 | €200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,513 | €1,485 | +€8,998 | |
| Amounts payable | 17/49 | €93,900 | €225,264 | +€131,364 | +140% |
| Amounts payable after more than one year | 17 | - | €91,611 | +€91,611 | |
| Financial debts | 170/4 | - | €91,611 | +€91,611 | |
| Amounts payable within one year | 42/48 | €93,900 | €133,652 | +€39,753 | +42.3% |
| Current portion of amounts payable after more than one year | 42 | - | €8,389 | +€8,389 | |
| Financial debts | 43 | €89,011 | €89,150 | +€139 | +0.2% |
| Credit institutions | 430/8 | €11 | - | -€11 | |
| Other loans | 439 | €89,000 | €89,150 | +€150 | +0.2% |
| Trade debts | 44 | €1,770 | €14,542 | +€12,772 | +722% |
| Suppliers | 440/4 | €1,770 | €14,542 | +€12,772 | +722% |
| Taxes, remuneration and social security | 45 | - | €17,488 | +€17,488 | |
| Taxes | 450/3 | - | €8,352 | +€8,352 | |
| Remuneration and social security | 454/9 | - | €9,136 | +€9,136 | |
| Other amounts payable | 47/48 | €3,119 | €4,084 | +€965 | +31.0% |
| Remuneration, social security and pensions | 62 | €39,301 | €50,068 | +€10,768 | +27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,946 | €21,601 | +€12,655 | +141% |
| Other operating charges | 640/8 | €823 | €1,592 | +€769 | +93.4% |
| Gross operating margin | 9900 | €51,426 | €85,718 | +€34,292 | +66.7% |
| Operating profit (loss) | 9901 | €2,356 | €12,457 | +€10,101 | +429% |
| Financial income | 75/76B | €8 | - | -€8 | |
| Recurring financial income | 75 | €8 | - | -€8 | |
| Financial charges | 65/66B | €653 | €1,668 | +€1,015 | +155% |
| Recurring financial charges | 65 | €653 | €1,668 | +€1,015 | +155% |
| Profit (loss) for the period before taxes | 9903 | €1,711 | €10,789 | +€9,078 | +531% |
| Income taxes | 67/77 | - | €1,791 | +€1,791 | |
| Profit (loss) for the period | 9904 | €1,711 | €8,998 | +€7,287 | +426% |
| Profit (loss) for the period to be appropriated | 9905 | €1,711 | €8,998 | +€7,287 | +426% |
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 22 October 2026 via checked.be.