COVER NEW: 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.
COVER NEW
Largest movements
- Tangible fixed assets +€31,036
up €31,036 (+78.3%), from €39,614 to €70,651
of which Plant, machinery and equipment: +€35,386
- Cash -€27,401
down €27,401 (-84.3%), from €32,498 to €5,096
mainly Investment in fixed assets (net) (-€43,294) and Deferred charges and accrued income (-€726)
- Profit (loss) carried forward +€3,453
up €3,453 (+5.7%), from €60,593 to €64,046
- Depreciation -€6,574
down €6,574 (-34.9%), from €18,832 to €12,258
- Gross operating margin +€5,436
up €5,436 (+50.1%), from €10,854 to €16,290
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 | €81,156 | €85,252 | +€4,096 | +5.0% |
| Fixed assets | 21/28 | €39,614 | €70,651 | +€31,036 | +78.3% |
| Tangible fixed assets | 22/27 | €39,614 | €70,651 | +€31,036 | +78.3% |
| Land and buildings | 22 | €9,432 | €9,432 | = | 0.0% |
| Plant, machinery and equipment | 23 | €25,094 | €60,480 | +€35,386 | +141% |
| Furniture and vehicles | 24 | €5,088 | €739 | -€4,349 | -85.5% |
| Current assets | 29/58 | €41,541 | €14,601 | -€26,940 | -64.9% |
| Amounts receivable within one year | 40/41 | €5,051 | €4,786 | -€265 | -5.2% |
| Other amounts receivable | 41 | €5,051 | €4,786 | -€265 | -5.2% |
| Cash at bank and in hand | 54/58 | €32,498 | €5,096 | -€27,401 | -84.3% |
| Deferred charges and accrued income | 490/1 | €3,992 | €4,719 | +€726 | +18.2% |
| Total equity and liabilities | 10/49 | €81,156 | €85,252 | +€4,096 | +5.0% |
| Equity | 10/15 | €81,053 | €84,506 | +€3,453 | +4.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Contributions outside capital | 11 | - | €18,600 | +€18,600 | |
| Other | 1109/19 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €60,593 | €64,046 | +€3,453 | +5.7% |
| Amounts payable | 17/49 | €103 | €746 | +€643 | +624% |
| Amounts payable within one year | 42/48 | €103 | €746 | +€643 | +624% |
| Trade debts | 44 | €103 | €730 | +€627 | +609% |
| Suppliers | 440/4 | €103 | €730 | +€627 | +609% |
| Taxes, remuneration and social security | 45 | - | €16 | +€16 | |
| Taxes | 450/3 | - | €16 | +€16 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,832 | €12,258 | -€6,574 | -34.9% |
| Other operating charges | 640/8 | €684 | €579 | -€105 | -15.4% |
| Gross operating margin | 9900 | €10,854 | €16,290 | +€5,436 | +50.1% |
| Operating profit (loss) | 9901 | -€8,662 | €3,453 | +€12,115 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €53 | - | -€53 | |
| Recurring financial charges | 65 | €53 | - | -€53 | |
| Profit (loss) for the period before taxes | 9903 | -€8,714 | €3,453 | +€12,168 | |
| Profit (loss) for the period | 9904 | -€8,714 | €3,453 | +€12,168 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,714 | €3,453 | +€12,168 |
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 24 October 2026 via checked.be.