de vijfde generatie: what changed
de vijfde generatie
Largest movements
- Financial fixed assets +€146,972
new in 2025: €146,972
- Cash -€23,962
down €23,962 (-48.4%), from €49,500 to €25,538
mainly Investment in fixed assets (net) (-€148,685) and Receivables within one year (-€12,578)
- Tangible fixed assets -€12,827
down €12,827 (-21.9%), from €58,530 to €45,702
of which Furniture and vehicles: -€12,137
- Receivables within one year +€12,578
up €12,578 (+194%), from €6,493 to €19,071
of which Trade receivables: +€12,578
- Debts after one year +€111,656
up €111,656 (+343%), from €32,529 to €144,184
- Current portion of long-term debt +€10,835
up €10,835 (+69.5%), from €15,600 to €26,436
- Reserves +€3,766
up €3,766 (+7.0%), from €53,543 to €57,308
- Tax, wage and social debts -€3,301
down €3,301 (-51.2%), from €6,452 to €3,151
- Gross operating margin -€12,729
down €12,729 (-30.7%), from €41,397 to €28,668
- Financial charges +€4,481
up €4,481 (+212%), from €2,116 to €6,598
- Taxes -€3,657
down €3,657 (-56.2%), from €6,507 to €2,850
- Depreciation +€2,992
up €2,992 (+25.9%), from €11,547 to €14,540
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €116,871 | €237,592 | +€120,721 | +103% |
| Fixed assets | 21/28 | €58,530 | €192,674 | +€134,145 | +229% |
| Tangible fixed assets | 22/27 | €58,530 | €45,702 | -€12,827 | -21.9% |
| Plant, machinery and equipment | 23 | €1,580 | €890 | -€690 | -43.7% |
| Furniture and vehicles | 24 | €56,949 | €44,812 | -€12,137 | -21.3% |
| Financial fixed assets | 28 | - | €146,972 | +€146,972 | |
| Current assets | 29/58 | €58,341 | €44,918 | -€13,423 | -23.0% |
| Amounts receivable within one year | 40/41 | €6,493 | €19,071 | +€12,578 | +194% |
| Trade receivables | 40 | - | €12,578 | +€12,578 | |
| Other amounts receivable | 41 | €6,493 | €6,493 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €49,500 | €25,538 | -€23,962 | -48.4% |
| Deferred charges and accrued income | 490/1 | €2,349 | €309 | -€2,039 | -86.8% |
| Total equity and liabilities | 10/49 | €116,871 | €237,592 | +€120,721 | +103% |
| Equity | 10/15 | €57,043 | €60,808 | +€3,766 | +6.6% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €53,543 | €57,308 | +€3,766 | +7.0% |
| Distributable reserves | 133 | €53,543 | €57,308 | +€3,766 | +7.0% |
| Amounts payable | 17/49 | €59,828 | €176,784 | +€116,956 | +195% |
| Amounts payable after more than one year | 17 | €32,529 | €144,184 | +€111,656 | +343% |
| Financial debts | 170/4 | €32,529 | €144,184 | +€111,656 | +343% |
| Amounts payable within one year | 42/48 | €27,300 | €32,600 | +€5,300 | +19.4% |
| Current portion of amounts payable after more than one year | 42 | €15,600 | €26,436 | +€10,835 | +69.5% |
| Trade debts | 44 | €5,248 | €3,013 | -€2,235 | -42.6% |
| Suppliers | 440/4 | €5,248 | €3,013 | -€2,235 | -42.6% |
| Taxes, remuneration and social security | 45 | €6,452 | €3,151 | -€3,301 | -51.2% |
| Taxes | 450/3 | €6,452 | €3,151 | -€3,301 | -51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,547 | €14,540 | +€2,992 | +25.9% |
| Other operating charges | 640/8 | €822 | €914 | +€92 | +11.2% |
| Gross operating margin | 9900 | €41,397 | €28,668 | -€12,729 | -30.7% |
| Operating profit (loss) | 9901 | €29,027 | €13,214 | -€15,814 | -54.5% |
| Financial charges | 65/66B | €2,116 | €6,598 | +€4,481 | +212% |
| Recurring financial charges | 65 | €2,116 | €6,598 | +€4,481 | +212% |
| Profit (loss) for the period before taxes | 9903 | €26,911 | €6,616 | -€20,295 | -75.4% |
| Income taxes | 67/77 | €6,507 | €2,850 | -€3,657 | -56.2% |
| Profit (loss) for the period | 9904 | €20,404 | €3,766 | -€16,638 | -81.5% |
| Profit (loss) for the period to be appropriated | 9905 | €20,404 | €3,766 | -€16,638 | -81.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.