CORPORA SERVICE: 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.
CORPORA SERVICE
Largest movements
- Tangible fixed assets +€796,021
up €796,021 (+173%), from €461,249 to €1.3m
of which Land and buildings: +€773,931
- Intangible fixed assets -€22,951
down €22,951 (-30.8%), from €74,591 to €51,640
- Debts after one year +€704,997
up €704,997 (+318%), from €221,589 to €926,587
- Other debts +€166,734
up €166,734 (+124%), from €134,586 to €301,320
- Profit (loss) carried forward -€116,677
down €116,677 (-343%), from -€33,972 to -€150,648
- Current portion of long-term debt +€30,259
up €30,259 (+97.2%), from €31,123 to €61,382
- Depreciation +€115,115
up €115,115 (+263%), from €43,711 to €158,826
- Gross operating margin +€26,792
up €26,792 (+57.3%), from €46,722 to €73,515
- Financial charges +€20,386
up €20,386 (+220%), from €9,270 to €29,656
- Taxes -€11,003
down €11,003 (-88.3%), from €12,461 to €1,458
- Other operating charges +€1,622
up €1,622 (+32.3%), from €5,024 to €6,646
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.
Derived cash bridge
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 | €545,439 | €1,316,111 | +€770,672 | +141% |
| Fixed assets | 21/28 | €535,840 | €1,308,910 | +€773,070 | +144% |
| Intangible fixed assets | 21 | €74,591 | €51,640 | -€22,951 | -30.8% |
| Tangible fixed assets | 22/27 | €461,249 | €1,257,270 | +€796,021 | +173% |
| Land and buildings | 22 | €449,439 | €1,223,370 | +€773,931 | +172% |
| Plant, machinery and equipment | 23 | €11,810 | €19,416 | +€7,605 | +64.4% |
| Furniture and vehicles | 24 | - | €14,485 | +€14,485 | |
| Current assets | 29/58 | €9,599 | €7,201 | -€2,398 | -25.0% |
| Amounts receivable within one year | 40/41 | €363 | - | -€363 | |
| Trade receivables | 40 | €363 | - | -€363 | |
| Cash at bank and in hand | 54/58 | €9,236 | €7,201 | -€2,035 | -22.0% |
| Total equity and liabilities | 10/49 | €545,439 | €1,316,111 | +€770,672 | +141% |
| Equity | 10/15 | €136,928 | €16,397 | -€120,531 | -88.0% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €45,900 | €42,046 | -€3,854 | -8.4% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,400 | €29,546 | -€3,854 | -11.5% |
| Profit (loss) carried forward | 14 | -€33,972 | -€150,648 | -€116,677 | -343% |
| Provisions and deferred taxes | 16 | €12,460 | €10,021 | -€2,440 | -19.6% |
| Deferred taxes | 168 | €12,460 | €10,021 | -€2,440 | -19.6% |
| Amounts payable | 17/49 | €396,051 | €1,289,693 | +€893,643 | +226% |
| Amounts payable after more than one year | 17 | €221,589 | €926,587 | +€704,997 | +318% |
| Financial debts | 170/4 | €221,589 | €926,587 | +€704,997 | +318% |
| Amounts payable within one year | 42/48 | €174,461 | €363,107 | +€188,645 | +108% |
| Current portion of amounts payable after more than one year | 42 | €31,123 | €61,382 | +€30,259 | +97.2% |
| Trade debts | 44 | €6,848 | €405 | -€6,443 | -94.1% |
| Suppliers | 440/4 | €6,848 | €405 | -€6,443 | -94.1% |
| Taxes, remuneration and social security | 45 | €1,904 | - | -€1,904 | |
| Taxes | 450/3 | €1,904 | - | -€1,904 | |
| Other amounts payable | 47/48 | €134,586 | €301,320 | +€166,734 | +124% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,711 | €158,826 | +€115,115 | +263% |
| Other operating charges | 640/8 | €5,024 | €6,646 | +€1,622 | +32.3% |
| Gross operating margin | 9900 | €46,722 | €73,515 | +€26,792 | +57.3% |
| Operating profit (loss) | 9901 | -€2,013 | -€91,957 | -€89,944 | -4,468% |
| Financial income | 75/76B | €134 | €100 | -€34 | -25.2% |
| Recurring financial income | 75 | €134 | €100 | -€34 | -25.2% |
| Financial charges | 65/66B | €9,270 | €29,656 | +€20,386 | +220% |
| Recurring financial charges | 65 | €9,270 | €29,656 | +€20,386 | +220% |
| Profit (loss) for the period before taxes | 9903 | -€11,150 | -€121,513 | -€110,363 | -990% |
| Transfer from deferred taxes | 780 | €2,440 | €2,440 | = | 0.0% |
| Income taxes | 67/77 | €12,461 | €1,458 | -€11,003 | -88.3% |
| Profit (loss) for the period | 9904 | -€21,171 | -€120,531 | -€99,360 | -469% |
| Transfer from tax-exempt reserves | 789 | €3,855 | €3,854 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,316 | -€116,677 | -€99,360 | -574% |
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 16 October 2026 via checked.be.