D & Q: 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.
D & Q
Largest movements
- Tangible fixed assets -€31,500
down €31,500 (-4.6%), from €682,110 to €650,610
- Profit (loss) carried forward -€115,713
down €115,713 (-25.8%), from -€447,660 to -€563,373
- Debts after one year +€55,357
up €55,357 (+5.9%), from €935,290 to €990,647
- Trade debts +€28,664
up €28,664 (+134%), from €21,408 to €50,073
- Gross operating margin -€15,521
down €15,521 (-218%), from -€7,121 to -€22,642
- Financial charges -€4,709
down €4,709 (-7.2%), from €65,721 to €61,012
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 | €685,340 | €653,648 | -€31,692 | -4.6% |
| Fixed assets | 21/28 | €682,110 | €650,610 | -€31,500 | -4.6% |
| Tangible fixed assets | 22/27 | €682,110 | €650,610 | -€31,500 | -4.6% |
| Land and buildings | 22 | €682,110 | €650,610 | -€31,500 | -4.6% |
| Current assets | 29/58 | €3,231 | €3,039 | -€192 | -5.9% |
| Amounts receivable within one year | 40/41 | - | €163 | +€163 | |
| Trade receivables | 40 | - | €163 | +€163 | |
| Cash at bank and in hand | 54/58 | €845 | €469 | -€376 | -44.5% |
| Deferred charges and accrued income | 490/1 | €2,386 | €2,407 | +€21 | +0.9% |
| Total equity and liabilities | 10/49 | €685,340 | €653,648 | -€31,692 | -4.6% |
| Equity | 10/15 | -€271,359 | -€387,071 | -€115,713 | -42.6% |
| Contributions | 10/11 | €176,301 | €176,301 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€447,660 | -€563,373 | -€115,713 | -25.8% |
| Amounts payable | 17/49 | €956,699 | €1,040,720 | +€84,021 | +8.8% |
| Amounts payable after more than one year | 17 | €935,290 | €990,647 | +€55,357 | +5.9% |
| Other amounts payable | 178/9 | €935,290 | €990,647 | +€55,357 | +5.9% |
| Amounts payable within one year | 42/48 | €21,408 | €50,073 | +€28,664 | +134% |
| Trade debts | 44 | €21,408 | €50,073 | +€28,664 | +134% |
| Suppliers | 440/4 | €21,408 | €50,073 | +€28,664 | +134% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,500 | €31,500 | = | 0.0% |
| Other operating charges | 640/8 | €513 | €558 | +€45 | +8.7% |
| Gross operating margin | 9900 | -€7,121 | -€22,642 | -€15,521 | -218% |
| Operating profit (loss) | 9901 | -€39,134 | -€54,700 | -€15,566 | -39.8% |
| Financial charges | 65/66B | €65,721 | €61,012 | -€4,709 | -7.2% |
| Recurring financial charges | 65 | €65,721 | €61,012 | -€4,709 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | -€104,856 | -€115,713 | -€10,857 | -10.4% |
| Profit (loss) for the period | 9904 | -€104,856 | -€115,713 | -€10,857 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€104,856 | -€115,713 | -€10,857 | -10.4% |
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.