Counterpart: 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.
Counterpart
Largest movements
- Tangible fixed assets -€484,358
down €484,358 (-82.0%), from €590,816 to €106,458
of which Assets under construction and advance payments: -€305,321
- Receivables within one year -€109,372
down €109,372 (-44.6%), from €245,378 to €136,006
of which Other amounts receivable: -€57,778
- Receivables after one year +€50,000
new in 2025: €50,000
- Cash +€29,447
up €29,447 (+1112.7%), from €2,647 to €32,094
mainly Investment in fixed assets (net) (+€466,082) and Receivables within one year (+€109,372)
- Debts after one year -€470,026
down €470,026 (-86.7%), from €542,275 to €72,248
- Profit (loss) carried forward +€42,651
up €42,651 (+30.3%), from €140,800 to €183,451
- Other debts -€41,107
no longer reported in 2025 (was €41,107)
- Tax, wage and social debts -€20,800
down €20,800 (-60.8%), from €34,207 to €13,407
of which Taxes: -€18,478
- Accrued charges and deferred income -€20,649
no longer reported in 2025 (was €20,649)
- Gross operating margin -€34,227
down €34,227 (-24.4%), from €140,531 to €106,304
- Staff costs +€23,793
new in 2025: €23,793
- Taxes -€10,826
down €10,826 (-45.9%), from €23,566 to €12,740
- Other operating charges -€5,783
no longer reported in 2025 (was €5,783)
- Financial charges -€5,502
down €5,502 (-38.4%), from €14,347 to €8,845
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 | €838,840 | €324,558 | -€514,282 | -61.3% |
| Fixed assets | 21/28 | €590,816 | €106,458 | -€484,358 | -82.0% |
| Tangible fixed assets | 22/27 | €590,816 | €106,458 | -€484,358 | -82.0% |
| Land and buildings | 22 | €181,719 | - | -€181,719 | |
| Plant, machinery and equipment | 23 | €84,126 | €75,175 | -€8,951 | -10.6% |
| Furniture and vehicles | 24 | €19,650 | €31,283 | +€11,634 | +59.2% |
| Assets under construction and advance payments | 27 | €305,321 | - | -€305,321 | |
| Current assets | 29/58 | €248,025 | €218,100 | -€29,924 | -12.1% |
| Amounts receivable after more than one year | 29 | - | €50,000 | +€50,000 | |
| Trade receivables | 290 | - | €50,000 | +€50,000 | |
| Amounts receivable within one year | 40/41 | €245,378 | €136,006 | -€109,372 | -44.6% |
| Trade receivables | 40 | €80,997 | €29,403 | -€51,594 | -63.7% |
| Other amounts receivable | 41 | €164,381 | €106,603 | -€57,778 | -35.1% |
| Cash at bank and in hand | 54/58 | €2,647 | €32,094 | +€29,447 | +1112.7% |
| Total equity and liabilities | 10/49 | €838,840 | €324,558 | -€514,282 | -61.3% |
| Equity | 10/15 | €160,800 | €203,451 | +€42,651 | +26.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €140,800 | €183,451 | +€42,651 | +30.3% |
| Amounts payable | 17/49 | €678,040 | €121,108 | -€556,933 | -82.1% |
| Amounts payable after more than one year | 17 | €542,275 | €72,248 | -€470,026 | -86.7% |
| Financial debts | 170/4 | €542,275 | €72,248 | -€470,026 | -86.7% |
| Amounts payable within one year | 42/48 | €115,117 | €48,859 | -€66,258 | -57.6% |
| Current portion of amounts payable after more than one year | 42 | €16,534 | €7,641 | -€8,893 | -53.8% |
| Trade debts | 44 | €23,270 | €27,811 | +€4,542 | +19.5% |
| Suppliers | 440/4 | €23,270 | €27,811 | +€4,542 | +19.5% |
| Taxes, remuneration and social security | 45 | €34,207 | €13,407 | -€20,800 | -60.8% |
| Taxes | 450/3 | €31,884 | €13,407 | -€18,478 | -58.0% |
| Remuneration and social security | 454/9 | €2,322 | - | -€2,322 | |
| Other amounts payable | 47/48 | €41,107 | - | -€41,107 | |
| Accrued charges and deferred income | 492/3 | €20,649 | - | -€20,649 | |
| Non-recurring operating income | 76A | - | €9,650 | +€9,650 | |
| Remuneration, social security and pensions | 62 | - | €23,793 | +€23,793 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,036 | €18,276 | +€240 | +1.3% |
| Other operating charges | 640/8 | €5,783 | - | -€5,783 | |
| Gross operating margin | 9900 | €140,531 | €106,304 | -€34,227 | -24.4% |
| Operating profit (loss) | 9901 | €116,713 | €64,236 | -€52,477 | -45.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €14,347 | €8,845 | -€5,502 | -38.4% |
| Recurring financial charges | 65 | €14,347 | €8,845 | -€5,502 | -38.4% |
| Profit (loss) for the period before taxes | 9903 | €102,366 | €55,391 | -€46,975 | -45.9% |
| Income taxes | 67/77 | €23,566 | €12,740 | -€10,826 | -45.9% |
| Profit (loss) for the period | 9904 | €78,800 | €42,651 | -€36,149 | -45.9% |
| Profit (loss) for the period to be appropriated | 9905 | €78,800 | €42,651 | -€36,149 | -45.9% |
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 2 October 2026 via checked.be.