CLEAR MINDS: 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.
CLEAR MINDS
Largest movements
- Tangible fixed assets -€134,560
down €134,560 (-8.4%), from €1.6m to €1.5m
of which Land and buildings: -€115,299
- Receivables within one year +€50,644
up €50,644 (+29.5%), from €171,793 to €222,438
of which Trade receivables: +€39,661
- Cash -€38,090
down €38,090 (-81.7%), from €46,620 to €8,531
mainly Debts after one year (-€76,879) and Net result for the year (-€63,785)
- Debts after one year -€76,879
down €76,879 (-15.5%), from €494,509 to €417,630
- Reserves -€51,251
down €51,251 (-3.0%), from €1.7m to €1.7m
of which Distributable reserves: -€51,251
- Gross operating margin -€137,998
down €137,998 (-63.2%), from €218,375 to €80,377
- Depreciation -€43,681
down €43,681 (-23.7%), from €184,504 to €140,823
- Financial charges -€13,823
down €13,823 (-59.0%), from €23,446 to €9,624
- Provisions +€7,350
up €7,350 (+36.8%), from -€19,950 to -€12,600
- Other operating charges -€6,894
down €6,894 (-33.7%), from €20,453 to €13,559
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 | €2,450,985 | €2,323,639 | -€127,346 | -5.2% |
| Fixed assets | 21/28 | €1,959,524 | €1,824,965 | -€134,560 | -6.9% |
| Tangible fixed assets | 22/27 | €1,598,774 | €1,464,215 | -€134,560 | -8.4% |
| Land and buildings | 22 | €1,531,091 | €1,415,792 | -€115,299 | -7.5% |
| Furniture and vehicles | 24 | €37,295 | €22,144 | -€15,151 | -40.6% |
| Other tangible fixed assets | 26 | €30,389 | €26,278 | -€4,110 | -13.5% |
| Financial fixed assets | 28 | €360,750 | €360,750 | = | 0.0% |
| Current assets | 29/58 | €491,460 | €498,675 | +€7,214 | +1.5% |
| Amounts receivable after more than one year | 29 | €249,000 | €249,000 | = | 0.0% |
| Other amounts receivable | 291 | €249,000 | €249,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €7,500 | €7,500 | = | 0.0% |
| Stocks | 30/36 | €7,500 | €7,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €171,793 | €222,438 | +€50,644 | +29.5% |
| Trade receivables | 40 | €51,229 | €90,890 | +€39,661 | +77.4% |
| Other amounts receivable | 41 | €120,564 | €131,548 | +€10,984 | +9.1% |
| Cash at bank and in hand | 54/58 | €46,620 | €8,531 | -€38,090 | -81.7% |
| Deferred charges and accrued income | 490/1 | €16,547 | €11,207 | -€5,341 | -32.3% |
| Total equity and liabilities | 10/49 | €2,450,985 | €2,323,639 | -€127,346 | -5.2% |
| Equity | 10/15 | €1,735,594 | €1,671,809 | -€63,785 | -3.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,716,860 | €1,665,609 | -€51,251 | -3.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,716,860 | €1,665,609 | -€51,251 | -3.0% |
| Profit (loss) carried forward | 14 | €12,534 | €0 | -€12,534 | -100.0% |
| Provisions and deferred taxes | 16 | €129,150 | €116,550 | -€12,600 | -9.8% |
| Provisions for liabilities and charges | 160/5 | €129,150 | €116,550 | -€12,600 | -9.8% |
| Other liabilities and charges | 164/5 | €129,150 | €116,550 | -€12,600 | -9.8% |
| Amounts payable | 17/49 | €586,241 | €535,281 | -€50,960 | -8.7% |
| Amounts payable after more than one year | 17 | €494,509 | €417,630 | -€76,879 | -15.5% |
| Financial debts | 170/4 | €494,509 | €417,630 | -€76,879 | -15.5% |
| Amounts payable within one year | 42/48 | €91,732 | €116,251 | +€24,519 | +26.7% |
| Current portion of amounts payable after more than one year | 42 | €75,574 | €76,879 | +€1,305 | +1.7% |
| Trade debts | 44 | €8,870 | €9,033 | +€164 | +1.8% |
| Suppliers | 440/4 | €8,870 | €9,033 | +€164 | +1.8% |
| Taxes, remuneration and social security | 45 | €1,135 | €4,223 | +€3,088 | +272.1% |
| Taxes | 450/3 | €1,135 | €4,223 | +€3,088 | +272.1% |
| Other amounts payable | 47/48 | €6,153 | €26,115 | +€19,962 | +324.4% |
| Accrued charges and deferred income | 492/3 | - | €1,400 | +€1,400 | |
| Non-recurring operating income | 76A | €1,847 | €0 | -€1,847 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €184,504 | €140,823 | -€43,681 | -23.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€19,950 | -€12,600 | +€7,350 | +36.8% |
| Other operating charges | 640/8 | €20,453 | €13,559 | -€6,894 | -33.7% |
| Non-recurring operating charges | 66A | €10,770 | €1,611 | -€9,159 | -85.0% |
| Gross operating margin | 9900 | €218,375 | €80,377 | -€137,998 | -63.2% |
| Operating profit (loss) | 9901 | €22,599 | -€63,015 | -€85,614 | |
| Financial income | 75/76B | €14,745 | €9,399 | -€5,346 | -36.3% |
| Recurring financial income | 75 | €14,745 | €9,399 | -€5,346 | -36.3% |
| Financial charges | 65/66B | €23,446 | €9,624 | -€13,823 | -59.0% |
| Recurring financial charges | 65 | €23,446 | €9,624 | -€13,823 | -59.0% |
| Profit (loss) for the period before taxes | 9903 | €13,897 | -€63,240 | -€77,137 | |
| Income taxes | 67/77 | €4,158 | €545 | -€3,613 | -86.9% |
| Profit (loss) for the period | 9904 | €9,739 | -€63,785 | -€73,524 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,739 | -€63,785 | -€73,524 |
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 9 October 2026 via checked.be.