DE 11e LINIE: 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.
DE 11e LINIE
Largest movements
- Stocks and contracts -€3.3m
down €3.3m (-13.6%), from €24.4m to €21.1m
- Receivables within one year +€1.5m
up €1.5m (+4,578%), from €32,258 to €1.5m
of which Trade receivables: +€1.5m
- Financial fixed assets -€740,919
down €740,919 (-92.5%), from €800,919 to €60,000
- Current portion of long-term debt -€2.2m
no longer reported in 2025 (was €2.2m)
- Debts after one year -€350,000
down €350,000 (-2.9%), from €12.0m to €11.6m
- Advances received -€287,210
down €287,210 (-12.9%), from €2.2m to €1.9m
- Other operating charges +€3,794
up €3,794 (+349%), from €1,086 to €4,879
- Financial income -€281
down €281 (-71.4%), from €394 to €112
- Gross operating margin +€132
up €132 (+3.3%), from -€4,002 to -€3,870
- Financial charges -€65
down €65 (-4.3%), from €1,508 to €1,443
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 | €25,208,941 | €22,645,516 | -€2.6m | -10.2% |
| Fixed assets | 21/28 | €800,919 | €60,000 | -€740,919 | -92.5% |
| Financial fixed assets | 28 | €800,919 | €60,000 | -€740,919 | -92.5% |
| Current assets | 29/58 | €24,408,022 | €22,585,516 | -€1.8m | -7.5% |
| Stocks and contracts in progress | 3 | €24,359,013 | €21,055,549 | -€3.3m | -13.6% |
| Stocks | 30/36 | €24,359,013 | €21,055,549 | -€3.3m | -13.6% |
| Amounts receivable within one year | 40/41 | €32,258 | €1,509,178 | +€1.5m | +4,578% |
| Trade receivables | 40 | - | €1,509,178 | +€1.5m | |
| Other amounts receivable | 41 | €32,258 | - | -€32,258 | |
| Cash at bank and in hand | 54/58 | €16,751 | €20,676 | +€3,926 | +23.4% |
| Deferred charges and accrued income | 490/1 | - | €112 | +€112 | |
| Total equity and liabilities | 10/49 | €25,208,941 | €22,645,516 | -€2.6m | -10.2% |
| Equity | 10/15 | -€31,317 | -€41,397 | -€10,080 | -32.2% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€94,317 | -€104,397 | -€10,080 | -10.7% |
| Amounts payable | 17/49 | €25,240,258 | €22,686,913 | -€2.6m | -10.1% |
| Amounts payable after more than one year | 17 | €11,998,210 | €11,648,210 | -€350,000 | -2.9% |
| Financial debts | 170/4 | €11,998,210 | €11,648,210 | -€350,000 | -2.9% |
| Amounts payable within one year | 42/48 | €12,969,200 | €10,721,923 | -€2.2m | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €2,200,000 | - | -€2.2m | |
| Trade debts | 44 | €59,689 | €22,127 | -€37,562 | -62.9% |
| Suppliers | 440/4 | €59,689 | €22,127 | -€37,562 | -62.9% |
| Advances received on contracts in progress | 46 | €2,229,905 | €1,942,695 | -€287,210 | -12.9% |
| Taxes, remuneration and social security | 45 | - | €251,303 | +€251,303 | |
| Taxes | 450/3 | - | €251,303 | +€251,303 | |
| Other amounts payable | 47/48 | €8,479,606 | €8,505,798 | +€26,191 | +0.3% |
| Accrued charges and deferred income | 492/3 | €272,848 | €316,780 | +€43,932 | +16.1% |
| Other operating charges | 640/8 | €1,086 | €4,879 | +€3,794 | +349% |
| Gross operating margin | 9900 | -€4,002 | -€3,870 | +€132 | +3.3% |
| Operating profit (loss) | 9901 | -€5,088 | -€8,749 | -€3,661 | -72.0% |
| Financial income | 75/76B | €394 | €112 | -€281 | -71.4% |
| Recurring financial income | 75 | €394 | €112 | -€281 | -71.4% |
| Financial charges | 65/66B | €1,508 | €1,443 | -€65 | -4.3% |
| Recurring financial charges | 65 | €1,508 | €1,443 | -€65 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | -€6,202 | -€10,080 | -€3,877 | -62.5% |
| Profit (loss) for the period | 9904 | -€6,202 | -€10,080 | -€3,877 | -62.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,202 | -€10,080 | -€3,877 | -62.5% |
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 1 November 2026 via checked.be.