COMPASS PROJECT: what changed
Two fiscal 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.
COMPASS PROJECT
Largest movements
- Tangible fixed assets -€36,136
down €36,136 (-5.8%), from €626,371 to €590,235
of which Land and buildings: -€31,401
- Debts after one year -€34,540
down €34,540 (-8.4%), from €409,727 to €375,188
- Other debts -€15,396
down €15,396 (-14.7%), from €104,852 to €89,455
- Profit (loss) carried forward +€7,939
up €7,939 (+25.3%), from €31,323 to €39,262
- Gross operating margin -€25,609
down €25,609 (-28.4%), from €90,254 to €64,646
- Taxes -€4,952
down €4,952 (-69.7%), from €7,107 to €2,155
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 | €659,468 | €621,080 | -€38,388 | -5.8% |
| Fixed assets | 21/28 | €626,371 | €590,235 | -€36,136 | -5.8% |
| Tangible fixed assets | 22/27 | €626,371 | €590,235 | -€36,136 | -5.8% |
| Land and buildings | 22 | €614,118 | €582,717 | -€31,401 | -5.1% |
| Plant, machinery and equipment | 23 | €6,566 | €4,145 | -€2,421 | -36.9% |
| Furniture and vehicles | 24 | €5,687 | €3,373 | -€2,314 | -40.7% |
| Current assets | 29/58 | €33,097 | €30,845 | -€2,253 | -6.8% |
| Cash at bank and in hand | 54/58 | €24,941 | €28,528 | +€3,587 | +14.4% |
| Deferred charges and accrued income | 490/1 | €8,157 | €2,317 | -€5,840 | -71.6% |
| Total equity and liabilities | 10/49 | €659,468 | €621,080 | -€38,388 | -5.8% |
| Equity | 10/15 | €100,073 | €108,012 | +€7,939 | +7.9% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €6,250 | €6,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,323 | €39,262 | +€7,939 | +25.3% |
| Amounts payable | 17/49 | €559,395 | €513,067 | -€46,328 | -8.3% |
| Amounts payable after more than one year | 17 | €409,727 | €375,188 | -€34,540 | -8.4% |
| Financial debts | 170/4 | €409,727 | €375,188 | -€34,540 | -8.4% |
| Amounts payable within one year | 42/48 | €149,580 | €137,790 | -€11,790 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €36,781 | €37,392 | +€611 | +1.7% |
| Trade debts | 44 | €367 | €1,680 | +€1,313 | +357.3% |
| Suppliers | 440/4 | €367 | €1,680 | +€1,313 | +357.3% |
| Taxes, remuneration and social security | 45 | €7,580 | €9,262 | +€1,683 | +22.2% |
| Taxes | 450/3 | €7,580 | €9,262 | +€1,683 | +22.2% |
| Other amounts payable | 47/48 | €104,852 | €89,455 | -€15,396 | -14.7% |
| Accrued charges and deferred income | 492/3 | €88 | €89 | +€2 | +1.9% |
| Non-recurring operating income | 76A | €10,066 | - | -€10,066 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,136 | €36,136 | = | 0.0% |
| Other operating charges | 640/8 | €10,773 | €11,111 | +€338 | +3.1% |
| Gross operating margin | 9900 | €90,254 | €64,646 | -€25,609 | -28.4% |
| Operating profit (loss) | 9901 | €43,346 | €17,399 | -€25,947 | -59.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €7,810 | €7,304 | -€506 | -6.5% |
| Recurring financial charges | 65 | €7,810 | €7,304 | -€506 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €35,536 | €10,095 | -€25,441 | -71.6% |
| Income taxes | 67/77 | €7,107 | €2,155 | -€4,952 | -69.7% |
| Profit (loss) for the period | 9904 | €28,429 | €7,939 | -€20,489 | -72.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,429 | €7,939 | -€20,489 | -72.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.