DE VERBINDING: 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.
DE VERBINDING
Largest movements
- Receivables within one year +€32,031
new in 2025: €32,031
- Tangible fixed assets -€19,249
down €19,249 (-1.3%), from €1.5m to €1.5m
of which Land and buildings: -€18,249
- Other debts +€93,607
up €93,607 (+8.5%), from €1.1m to €1.2m
- Trade debts -€43,311
down €43,311 (-99.7%), from €43,425 to €114
- Debts after one year -€25,088
down €25,088 (-6.0%), from €420,160 to €395,072
- Current portion of long-term debt +€25,088
new in 2025: €25,088
- Short-term financial debts -€24,766
no longer reported in 2025 (was €24,766)
- Depreciation +€56,017
new in 2025: €56,017
- Gross operating margin +€50,234
up €50,234, from -€3,320 to €46,914
- Staff costs -€6,497
no longer reported in 2025 (was €6,497)
- Other operating charges +€2,588
up €2,588 (+193.9%), from €1,335 to €3,923
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 | €1,494,108 | €1,500,312 | +€6,204 | +0.4% |
| Fixed assets | 21/28 | €1,481,427 | €1,462,178 | -€19,249 | -1.3% |
| Tangible fixed assets | 22/27 | €1,481,427 | €1,462,178 | -€19,249 | -1.3% |
| Land and buildings | 22 | €1,477,427 | €1,459,178 | -€18,249 | -1.2% |
| Plant, machinery and equipment | 23 | €4,000 | €3,000 | -€1,000 | -25.0% |
| Current assets | 29/58 | €12,681 | €38,134 | +€25,453 | +200.7% |
| Amounts receivable within one year | 40/41 | - | €32,031 | +€32,031 | |
| Other amounts receivable | 41 | - | €32,031 | +€32,031 | |
| Cash at bank and in hand | 54/58 | €7,455 | €2,045 | -€5,410 | -72.6% |
| Deferred charges and accrued income | 490/1 | €5,226 | €4,058 | -€1,168 | -22.3% |
| Total equity and liabilities | 10/49 | €1,494,108 | €1,500,312 | +€6,204 | +0.4% |
| Equity | 10/15 | -€99,009 | -€117,731 | -€18,722 | -18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€117,609 | -€136,331 | -€18,722 | -15.9% |
| Amounts payable | 17/49 | €1,593,117 | €1,618,043 | +€24,926 | +1.6% |
| Amounts payable after more than one year | 17 | €420,160 | €395,072 | -€25,088 | -6.0% |
| Financial debts | 170/4 | €420,160 | €395,072 | -€25,088 | -6.0% |
| Amounts payable within one year | 42/48 | €1,172,957 | €1,222,971 | +€50,014 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | - | €25,088 | +€25,088 | |
| Financial debts | 43 | €24,766 | - | -€24,766 | |
| Credit institutions | 430/8 | €24,766 | - | -€24,766 | |
| Trade debts | 44 | €43,425 | €114 | -€43,311 | -99.7% |
| Suppliers | 440/4 | €43,425 | €114 | -€43,311 | -99.7% |
| Taxes, remuneration and social security | 45 | €3,372 | €2,768 | -€604 | -17.9% |
| Taxes | 450/3 | - | €2,768 | +€2,768 | |
| Remuneration and social security | 454/9 | €3,372 | - | -€3,372 | |
| Other amounts payable | 47/48 | €1,101,394 | €1,195,001 | +€93,607 | +8.5% |
| Remuneration, social security and pensions | 62 | €6,497 | - | -€6,497 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €56,017 | +€56,017 | |
| Other operating charges | 640/8 | €1,335 | €3,923 | +€2,588 | +193.9% |
| Gross operating margin | 9900 | -€3,320 | €46,914 | +€50,234 | |
| Operating profit (loss) | 9901 | -€11,152 | -€13,026 | -€1,874 | -16.8% |
| Financial charges | 65/66B | €5,921 | €5,696 | -€225 | -3.8% |
| Recurring financial charges | 65 | €5,921 | €5,696 | -€225 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | -€17,073 | -€18,722 | -€1,649 | -9.7% |
| Profit (loss) for the period | 9904 | -€17,073 | -€18,722 | -€1,649 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,073 | -€18,722 | -€1,649 | -9.7% |
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 6 October 2026 via checked.be.