Content: 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.
Content
Largest movements
- Receivables within one year +€224,356
up €224,356 (+1492.3%), from €15,034 to €239,390
of which Other amounts receivable: +€204,842
- Tangible fixed assets -€142,868
down €142,868 (-4.7%), from €3.1m to €2.9m
of which Land and buildings: -€142,136
- Cash -€78,934
down €78,934 (-78.7%), from €100,307 to €21,373
mainly Debts after one year (-€507,987) and Receivables within one year (-€224,356)
- Debts after one year -€507,987
down €507,987 (-23.3%), from €2.2m to €1.7m
of which Financial debts: -€510,625
- Profit (loss) carried forward +€240,806
up €240,806, from -€116,430 to €124,376
- Trade debts +€177,408
up €177,408 (+2213.6%), from €8,014 to €185,423
- Tax, wage and social debts +€69,117
up €69,117 (+674.5%), from €10,248 to €79,365
- Gross operating margin +€265,822
up €265,822 (+132.9%), from €200,090 to €465,912
- Depreciation -€71,549
down €71,549 (-33.4%), from €214,416 to €142,868
- Financial charges -€32,964
down €32,964 (-32.6%), from €101,186 to €68,222
- Other operating charges +€13,100
up €13,100 (+1428.7%), from €917 to €14,017
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 | €3,187,996 | €3,188,626 | +€629 | 0.0% |
| Fixed assets | 21/28 | €3,070,605 | €2,927,738 | -€142,868 | -4.7% |
| Tangible fixed assets | 22/27 | €3,070,605 | €2,927,738 | -€142,868 | -4.7% |
| Land and buildings | 22 | €3,067,676 | €2,925,540 | -€142,136 | -4.6% |
| Plant, machinery and equipment | 23 | €2,929 | €2,198 | -€731 | -25.0% |
| Current assets | 29/58 | €117,391 | €260,888 | +€143,497 | +122.2% |
| Amounts receivable within one year | 40/41 | €15,034 | €239,390 | +€224,356 | +1492.3% |
| Trade receivables | 40 | €14,876 | €34,390 | +€19,514 | +131.2% |
| Other amounts receivable | 41 | €158 | €205,000 | +€204,842 | +129384.6% |
| Cash at bank and in hand | 54/58 | €100,307 | €21,373 | -€78,934 | -78.7% |
| Deferred charges and accrued income | 490/1 | €2,050 | €125 | -€1,925 | -93.9% |
| Total equity and liabilities | 10/49 | €3,187,996 | €3,188,626 | +€629 | 0.0% |
| Equity | 10/15 | €883,570 | €1,124,376 | +€240,806 | +27.3% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€116,430 | €124,376 | +€240,806 | |
| Amounts payable | 17/49 | €2,304,426 | €2,064,250 | -€240,176 | -10.4% |
| Amounts payable after more than one year | 17 | €2,178,948 | €1,670,961 | -€507,987 | -23.3% |
| Financial debts | 170/4 | €2,157,348 | €1,646,723 | -€510,625 | -23.7% |
| Other amounts payable | 178/9 | €21,600 | €24,238 | +€2,638 | +12.2% |
| Amounts payable within one year | 42/48 | €124,842 | €375,413 | +€250,571 | +200.7% |
| Current portion of amounts payable after more than one year | 42 | €106,581 | €110,625 | +€4,044 | +3.8% |
| Financial debts | 43 | - | €1 | +€1 | |
| Credit institutions | 430/8 | - | €1 | +€1 | |
| Trade debts | 44 | €8,014 | €185,423 | +€177,408 | +2213.6% |
| Suppliers | 440/4 | €8,014 | €185,423 | +€177,408 | +2213.6% |
| Taxes, remuneration and social security | 45 | €10,248 | €79,365 | +€69,117 | +674.5% |
| Taxes | 450/3 | €10,248 | €79,365 | +€69,117 | +674.5% |
| Accrued charges and deferred income | 492/3 | €635 | €17,876 | +€17,240 | +2713.5% |
| Non-recurring operating income | 76A | €14,276 | €552 | -€13,724 | -96.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €214,416 | €142,868 | -€71,549 | -33.4% |
| Other operating charges | 640/8 | €917 | €14,017 | +€13,100 | +1428.7% |
| Gross operating margin | 9900 | €200,090 | €465,912 | +€265,822 | +132.9% |
| Operating profit (loss) | 9901 | -€15,243 | €309,028 | +€324,271 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €101,186 | €68,222 | -€32,964 | -32.6% |
| Recurring financial charges | 65 | €101,186 | €68,222 | -€32,964 | -32.6% |
| Profit (loss) for the period before taxes | 9903 | -€116,430 | €240,806 | +€357,235 | |
| Profit (loss) for the period | 9904 | -€116,430 | €240,806 | +€357,235 | |
| Profit (loss) for the period to be appropriated | 9905 | -€116,430 | €240,806 | +€357,235 |
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 10 October 2026 via checked.be.