CORE TONIC: 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.
CORE TONIC
Largest movements
- Tangible fixed assets -€19,934
down €19,934 (-5.7%), from €350,783 to €330,849
of which Land and buildings: -€13,970
- Cash -€12,484
down €12,484 (-67.6%), from €18,467 to €5,983
mainly Debts after one year (-€31,986) and Net result for the year (-€7,952)
- Debts after one year -€31,986
down €31,986 (-16.6%), from €192,201 to €160,215
- Trade debts +€9,771
up €9,771 (+204.8%), from €4,771 to €14,542
- Profit (loss) carried forward -€7,952
down €7,952 (-18.5%), from -€42,901 to -€50,852
- Gross operating margin -€6,085
down €6,085 (-19.4%), from €31,437 to €25,352
- Other operating charges +€3,458
up €3,458 (+735.8%), from €470 to €3,928
- Financial charges -€797
down €797 (-8.2%), from €9,660 to €8,863
- Taxes -€335
down €335 (-55.6%), from €602 to €268
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 | €379,213 | €348,105 | -€31,108 | -8.2% |
| Fixed assets | 21/28 | €358,846 | €338,912 | -€19,934 | -5.6% |
| Tangible fixed assets | 22/27 | €350,783 | €330,849 | -€19,934 | -5.7% |
| Land and buildings | 22 | €340,943 | €326,972 | -€13,970 | -4.1% |
| Plant, machinery and equipment | 23 | €8,409 | €2,803 | -€5,606 | -66.7% |
| Furniture and vehicles | 24 | €1,432 | €1,074 | -€358 | -25.0% |
| Financial fixed assets | 28 | €8,063 | €8,063 | = | 0.0% |
| Current assets | 29/58 | €20,367 | €9,193 | -€11,174 | -54.9% |
| Amounts receivable within one year | 40/41 | €390 | €1,725 | +€1,335 | +342.7% |
| Trade receivables | 40 | €390 | €1,358 | +€968 | +248.6% |
| Other amounts receivable | 41 | - | €367 | +€367 | |
| Cash at bank and in hand | 54/58 | €18,467 | €5,983 | -€12,484 | -67.6% |
| Deferred charges and accrued income | 490/1 | €1,510 | €1,485 | -€25 | -1.6% |
| Total equity and liabilities | 10/49 | €379,213 | €348,105 | -€31,108 | -8.2% |
| Equity | 10/15 | €57,739 | €49,788 | -€7,952 | -13.8% |
| Contributions | 10/11 | €100,640 | €100,640 | = | 0.0% |
| Capital | 10 | €100,640 | €100,640 | = | 0.0% |
| Issued capital | 100 | €104,000 | €104,000 | = | 0.0% |
| Uncalled capital | 101 | €3,360 | €3,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,901 | -€50,852 | -€7,952 | -18.5% |
| Amounts payable | 17/49 | €321,473 | €298,317 | -€23,157 | -7.2% |
| Amounts payable after more than one year | 17 | €192,201 | €160,215 | -€31,986 | -16.6% |
| Financial debts | 170/4 | €192,201 | €160,215 | -€31,986 | -16.6% |
| Amounts payable within one year | 42/48 | €129,273 | €137,640 | +€8,367 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €31,202 | €31,986 | +€784 | +2.5% |
| Trade debts | 44 | €4,771 | €14,542 | +€9,771 | +204.8% |
| Suppliers | 440/4 | €4,771 | €14,542 | +€9,771 | +204.8% |
| Taxes, remuneration and social security | 45 | €10,880 | €11,170 | +€290 | +2.7% |
| Taxes | 450/3 | €10,880 | €9,435 | -€1,445 | -13.3% |
| Remuneration and social security | 454/9 | - | €1,735 | +€1,735 | |
| Other amounts payable | 47/48 | €82,420 | €79,942 | -€2,478 | -3.0% |
| Accrued charges and deferred income | 492/3 | - | €462 | +€462 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,934 | €19,934 | = | 0.0% |
| Other operating charges | 640/8 | €470 | €3,928 | +€3,458 | +735.8% |
| Non-recurring operating charges | 66A | - | €390 | +€390 | |
| Gross operating margin | 9900 | €31,437 | €25,352 | -€6,085 | -19.4% |
| Operating profit (loss) | 9901 | €11,033 | €1,100 | -€9,933 | -90.0% |
| Financial income | 75/76B | €4 | €79 | +€75 | +1926.3% |
| Recurring financial income | 75 | €4 | €79 | +€75 | +1926.3% |
| Financial charges | 65/66B | €9,660 | €8,863 | -€797 | -8.2% |
| Recurring financial charges | 65 | €9,660 | €8,863 | -€797 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €1,377 | -€7,684 | -€9,061 | |
| Income taxes | 67/77 | €602 | €268 | -€335 | -55.6% |
| Profit (loss) for the period | 9904 | €774 | -€7,952 | -€8,726 | |
| Profit (loss) for the period to be appropriated | 9905 | €774 | -€7,952 | -€8,726 |
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.