COPY - HOUSE: 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.
COPY - HOUSE
Largest movements
- Tangible fixed assets -€45,389
down €45,389 (-26.8%), from €169,434 to €124,045
- Stocks and contracts -€44,272
down €44,272 (-27.0%), from €164,168 to €119,896
- Receivables within one year -€5,888
down €5,888 (-14.7%), from €40,179 to €34,291
of which Trade receivables: -€5,909
- Profit (loss) carried forward -€66,739
down €66,739, from €14,636 to -€52,103
- Short-term financial debts -€19,503
down €19,503 (-84.0%), from €23,213 to €3,710
- Tax, wage and social debts +€18,574
up €18,574 (+101.1%), from €18,380 to €36,954
of which Taxes: +€12,886
- Debts after one year -€17,847
down €17,847 (-8.2%), from €217,097 to €199,250
of which Financial debts: -€42,847
- Current portion of long-term debt -€13,483
down €13,483 (-23.7%), from €56,900 to €43,417
- Gross operating margin -€55,885
down €55,885 (-42.0%), from €133,036 to €77,151
- Staff costs -€16,742
down €16,742 (-18.4%), from €90,930 to €74,188
- Depreciation +€11,401
up €11,401 (+30.9%), from €36,910 to €48,311
- Other operating charges -€4,292
down €4,292 (-40.9%), from €10,504 to €6,212
- Financial charges +€2,292
up €2,292 (+21.7%), from €10,580 to €12,872
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 | €393,752 | €300,059 | -€93,693 | -23.8% |
| Fixed assets | 21/28 | €175,794 | €130,405 | -€45,389 | -25.8% |
| Tangible fixed assets | 22/27 | €169,434 | €124,045 | -€45,389 | -26.8% |
| Land and buildings | 22 | €59,520 | €39,912 | -€19,608 | -32.9% |
| Plant, machinery and equipment | 23 | €29,279 | €21,618 | -€7,661 | -26.2% |
| Furniture and vehicles | 24 | €480 | - | -€480 | |
| Leasing and similar rights | 25 | €74,277 | €57,786 | -€16,491 | -22.2% |
| Other tangible fixed assets | 26 | €5,878 | €4,729 | -€1,149 | -19.5% |
| Financial fixed assets | 28 | €6,360 | €6,360 | = | 0.0% |
| Current assets | 29/58 | €217,958 | €169,654 | -€48,304 | -22.2% |
| Stocks and contracts in progress | 3 | €164,168 | €119,896 | -€44,272 | -27.0% |
| Stocks | 30/36 | €164,168 | €119,896 | -€44,272 | -27.0% |
| Amounts receivable within one year | 40/41 | €40,179 | €34,291 | -€5,888 | -14.7% |
| Trade receivables | 40 | €39,348 | €33,439 | -€5,909 | -15.0% |
| Other amounts receivable | 41 | €831 | €852 | +€21 | +2.5% |
| Cash at bank and in hand | 54/58 | €13,145 | €11,266 | -€1,879 | -14.3% |
| Deferred charges and accrued income | 490/1 | €466 | €4,201 | +€3,735 | +801.5% |
| Total equity and liabilities | 10/49 | €393,752 | €300,059 | -€93,693 | -23.8% |
| Equity | 10/15 | €36,636 | -€30,103 | -€66,739 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,636 | -€52,103 | -€66,739 | |
| Amounts payable | 17/49 | €357,116 | €330,162 | -€26,954 | -7.5% |
| Amounts payable after more than one year | 17 | €217,097 | €199,250 | -€17,847 | -8.2% |
| Financial debts | 170/4 | €147,097 | €104,250 | -€42,847 | -29.1% |
| Other amounts payable | 178/9 | €70,000 | €95,000 | +€25,000 | +35.7% |
| Amounts payable within one year | 42/48 | €140,019 | €130,912 | -€9,107 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €56,900 | €43,417 | -€13,483 | -23.7% |
| Financial debts | 43 | €23,213 | €3,710 | -€19,503 | -84.0% |
| Credit institutions | 430/8 | €23,213 | €3,710 | -€19,503 | -84.0% |
| Trade debts | 44 | €32,715 | €39,586 | +€6,871 | +21.0% |
| Suppliers | 440/4 | €32,715 | €39,586 | +€6,871 | +21.0% |
| Taxes, remuneration and social security | 45 | €18,380 | €36,954 | +€18,574 | +101.1% |
| Taxes | 450/3 | €13,307 | €26,193 | +€12,886 | +96.8% |
| Remuneration and social security | 454/9 | €5,073 | €10,761 | +€5,688 | +112.1% |
| Other amounts payable | 47/48 | €8,811 | €7,245 | -€1,566 | -17.8% |
| Non-recurring operating income | 76A | €14,959 | €2,988 | -€11,971 | -80.0% |
| Remuneration, social security and pensions | 62 | €90,930 | €74,188 | -€16,742 | -18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,910 | €48,311 | +€11,401 | +30.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,000 | +€2,000 | |
| Other operating charges | 640/8 | €10,504 | €6,212 | -€4,292 | -40.9% |
| Gross operating margin | 9900 | €133,036 | €77,151 | -€55,885 | -42.0% |
| Operating profit (loss) | 9901 | -€5,308 | -€53,560 | -€48,252 | -909.0% |
| Financial income | 75/76B | €23 | €5 | -€18 | -78.3% |
| Recurring financial income | 75 | €13 | €5 | -€8 | -61.5% |
| Non-recurring financial income | 76B | €10 | - | -€10 | |
| Financial charges | 65/66B | €10,580 | €12,872 | +€2,292 | +21.7% |
| Recurring financial charges | 65 | €10,580 | €12,872 | +€2,292 | +21.7% |
| Profit (loss) for the period before taxes | 9903 | -€15,865 | -€66,427 | -€50,562 | -318.7% |
| Income taxes | 67/77 | €148 | €312 | +€164 | +110.8% |
| Profit (loss) for the period | 9904 | -€16,013 | -€66,739 | -€50,726 | -316.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,013 | -€66,739 | -€50,726 | -316.8% |
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 8 October 2026 via checked.be.