Contrast: 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.
Contrast
Largest movements
- Financial fixed assets -€62,600
down €62,600 (-99.3%), from €63,015 to €415
- Tangible fixed assets -€14,604
down €14,604 (-9.6%), from €152,257 to €137,653
of which Land and buildings: -€14,031
- Cash +€12,531
up €12,531 (+636081.7%), from €2 to €12,533
mainly Investment in fixed assets (net) (+€59,563) and Other debts (+€27,571)
- Receivables within one year -€5,087
down €5,087 (-98.7%), from €5,153 to €65
of which Trade receivables: -€4,131
- Deferred charges and accrued income -€4,678
down €4,678 (-22.6%), from €20,709 to €16,031
- Profit (loss) carried forward -€70,191
down €70,191 (-165.0%), from -€42,528 to -€112,718
- Other debts +€27,571
up €27,571 (+115.4%), from €23,895 to €51,466
- Debts after one year -€19,661
down €19,661 (-18.1%), from €108,801 to €89,139
- Tax, wage and social debts -€11,707
down €11,707 (-92.2%), from €12,693 to €986
of which Taxes: -€6,889
- Write-downs -€127,494
down €127,494, from €63,747 to -€63,747
- Other operating charges +€64,994
up €64,994 (+3765.6%), from €1,726 to €66,720
- Financial charges +€59,619
up €59,619 (+839.5%), from €7,102 to €66,721
of which Non-recurring financial charges: +€57,214
- Gross operating margin -€15,216
down €15,216 (-47.0%), from €32,357 to €17,140
- Taxes +€371
up €371, from -€371 to €0
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 | €241,136 | €166,697 | -€74,439 | -30.9% |
| Fixed assets | 21/28 | €215,272 | €138,068 | -€77,204 | -35.9% |
| Tangible fixed assets | 22/27 | €152,257 | €137,653 | -€14,604 | -9.6% |
| Land and buildings | 22 | €147,568 | €133,537 | -€14,031 | -9.5% |
| Furniture and vehicles | 24 | €4,689 | €4,116 | -€573 | -12.2% |
| Financial fixed assets | 28 | €63,015 | €415 | -€62,600 | -99.3% |
| Current assets | 29/58 | €25,864 | €28,629 | +€2,765 | +10.7% |
| Amounts receivable within one year | 40/41 | €5,153 | €65 | -€5,087 | -98.7% |
| Trade receivables | 40 | €4,131 | €0 | -€4,131 | -100.0% |
| Other amounts receivable | 41 | €1,022 | €65 | -€957 | -93.6% |
| Cash at bank and in hand | 54/58 | €2 | €12,533 | +€12,531 | +636081.7% |
| Deferred charges and accrued income | 490/1 | €20,709 | €16,031 | -€4,678 | -22.6% |
| Total equity and liabilities | 10/49 | €241,136 | €166,697 | -€74,439 | -30.9% |
| Equity | 10/15 | €73,017 | €2,827 | -€70,191 | -96.1% |
| Contributions | 10/11 | €48,750 | €48,750 | = | 0.0% |
| Reserves | 13 | €66,795 | €66,795 | = | 0.0% |
| Distributable reserves | 133 | €66,795 | €66,795 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,528 | -€112,718 | -€70,191 | -165.0% |
| Amounts payable | 17/49 | €168,119 | €163,871 | -€4,248 | -2.5% |
| Amounts payable after more than one year | 17 | €108,801 | €89,139 | -€19,661 | -18.1% |
| Financial debts | 170/4 | €108,801 | €89,139 | -€19,661 | -18.1% |
| Amounts payable within one year | 42/48 | €57,808 | €74,731 | +€16,924 | +29.3% |
| Current portion of amounts payable after more than one year | 42 | €20,735 | €21,191 | +€455 | +2.2% |
| Financial debts | 43 | €204 | €0 | -€204 | -100.0% |
| Credit institutions | 430/8 | €204 | €0 | -€204 | -100.0% |
| Trade debts | 44 | €281 | €1,089 | +€808 | +288.0% |
| Suppliers | 440/4 | €281 | €1,089 | +€808 | +288.0% |
| Taxes, remuneration and social security | 45 | €12,693 | €986 | -€11,707 | -92.2% |
| Taxes | 450/3 | €7,875 | €986 | -€6,889 | -87.5% |
| Remuneration and social security | 454/9 | €4,818 | €0 | -€4,818 | -100.0% |
| Other amounts payable | 47/48 | €23,895 | €51,466 | +€27,571 | +115.4% |
| Accrued charges and deferred income | 492/3 | €1,511 | €0 | -€1,511 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,482 | €17,641 | +€159 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €63,747 | -€63,747 | -€127,494 | |
| Other operating charges | 640/8 | €1,726 | €66,720 | +€64,994 | +3765.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €32,357 | €17,140 | -€15,216 | -47.0% |
| Operating profit (loss) | 9901 | -€50,598 | -€3,474 | +€47,124 | +93.1% |
| Financial income | 75/76B | €10 | €4 | -€6 | -56.1% |
| Recurring financial income | 75 | €10 | €4 | -€6 | -56.1% |
| Financial charges | 65/66B | €7,102 | €66,721 | +€59,619 | +839.5% |
| Recurring financial charges | 65 | €7,102 | €9,507 | +€2,405 | +33.9% |
| Non-recurring financial charges | 66B | - | €57,214 | +€57,214 | |
| Profit (loss) for the period before taxes | 9903 | -€57,690 | -€70,191 | -€12,501 | -21.7% |
| Income taxes | 67/77 | -€371 | €0 | +€371 | |
| Profit (loss) for the period | 9904 | -€57,319 | -€70,191 | -€12,872 | -22.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€57,319 | -€70,191 | -€12,872 | -22.5% |
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 3 October 2026 via checked.be.