COMMON SENSE: 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.
COMMON SENSE
Largest movements
- Tangible fixed assets +€96,741
up €96,741 (+44.7%), from €216,192 to €312,933
of which Land and buildings: +€107,632
- Cash -€22,451
down €22,451 (-17.8%), from €126,211 to €103,761
mainly Investment in fixed assets (net) (-€114,525) and Receivables within one year (-€16,598)
- Receivables within one year +€16,598
up €16,598 (+132.2%), from €12,557 to €29,156
of which Other amounts receivable: +€8,693
- Debts after one year +€75,387
up €75,387 (+58.9%), from €128,023 to €203,411
- Other debts +€7,171
up €7,171 (+93.7%), from €7,653 to €14,824
- Reserves +€7,000
up €7,000 (+3.7%), from €189,000 to €196,000
- Tax, wage and social debts -€4,581
down €4,581 (-42.3%), from €10,818 to €6,237
- Gross operating margin -€31,910
down €31,910 (-36.9%), from €86,512 to €54,602
- Taxes -€7,934
down €7,934 (-56.5%), from €14,055 to €6,121
- Depreciation +€5,075
up €5,075 (+39.9%), from €12,709 to €17,784
- Financial charges +€2,406
up €2,406 (+40.8%), from €5,895 to €8,301
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 | €356,912 | €445,850 | +€88,938 | +24.9% |
| Fixed assets | 21/28 | €216,192 | €312,933 | +€96,741 | +44.7% |
| Tangible fixed assets | 22/27 | €216,192 | €312,933 | +€96,741 | +44.7% |
| Land and buildings | 22 | €172,907 | €280,539 | +€107,632 | +62.2% |
| Plant, machinery and equipment | 23 | €1,553 | €1,233 | -€320 | -20.6% |
| Furniture and vehicles | 24 | €41,732 | €31,161 | -€10,571 | -25.3% |
| Current assets | 29/58 | €140,720 | €132,917 | -€7,803 | -5.5% |
| Amounts receivable within one year | 40/41 | €12,557 | €29,156 | +€16,598 | +132.2% |
| Trade receivables | 40 | €11,314 | €19,219 | +€7,905 | +69.9% |
| Other amounts receivable | 41 | €1,244 | €9,937 | +€8,693 | +698.8% |
| Cash at bank and in hand | 54/58 | €126,211 | €103,761 | -€22,451 | -17.8% |
| Deferred charges and accrued income | 490/1 | €1,951 | - | -€1,951 | |
| Total equity and liabilities | 10/49 | €356,912 | €445,850 | +€88,938 | +24.9% |
| Equity | 10/15 | €190,139 | €197,245 | +€7,106 | +3.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €189,000 | €196,000 | +€7,000 | +3.7% |
| Distributable reserves | 133 | €189,000 | €196,000 | +€7,000 | +3.7% |
| Profit (loss) carried forward | 14 | €139 | €245 | +€106 | +76.2% |
| Amounts payable | 17/49 | €166,773 | €248,605 | +€81,832 | +49.1% |
| Amounts payable after more than one year | 17 | €128,023 | €203,411 | +€75,387 | +58.9% |
| Financial debts | 170/4 | €128,023 | €203,411 | +€75,387 | +58.9% |
| Amounts payable within one year | 42/48 | €37,950 | €44,244 | +€6,295 | +16.6% |
| Current portion of amounts payable after more than one year | 42 | €17,085 | €17,819 | +€734 | +4.3% |
| Trade debts | 44 | €2,394 | €5,364 | +€2,971 | +124.1% |
| Suppliers | 440/4 | €2,394 | €5,364 | +€2,971 | +124.1% |
| Taxes, remuneration and social security | 45 | €10,818 | €6,237 | -€4,581 | -42.3% |
| Taxes | 450/3 | €10,818 | €6,237 | -€4,581 | -42.3% |
| Other amounts payable | 47/48 | €7,653 | €14,824 | +€7,171 | +93.7% |
| Accrued charges and deferred income | 492/3 | €800 | €950 | +€150 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,709 | €17,784 | +€5,075 | +39.9% |
| Other operating charges | 640/8 | €288 | €290 | +€2 | +0.7% |
| Gross operating margin | 9900 | €86,512 | €54,602 | -€31,910 | -36.9% |
| Operating profit (loss) | 9901 | €73,515 | €36,527 | -€36,987 | -50.3% |
| Financial charges | 65/66B | €5,895 | €8,301 | +€2,406 | +40.8% |
| Recurring financial charges | 65 | €5,895 | €8,301 | +€2,406 | +40.8% |
| Profit (loss) for the period before taxes | 9903 | €67,620 | €28,226 | -€39,394 | -58.3% |
| Income taxes | 67/77 | €14,055 | €6,121 | -€7,934 | -56.5% |
| Profit (loss) for the period | 9904 | €53,565 | €22,106 | -€31,460 | -58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,565 | €22,106 | -€31,460 | -58.7% |
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.