DEB.S: 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.
DEB.S
Largest movements
- Tangible fixed assets +€578,031
up €578,031 (+970.7%), from €59,546 to €637,577
of which Land and buildings: +€589,022
- Current investments -€400,000
down €400,000 (-54.1%), from €740,000 to €340,000
- Intangible fixed assets -€24,000
down €24,000 (-19.4%), from €124,000 to €100,000
- Reserves -€501,011
down €501,011 (-42.4%), from €1.2m to €681,673
of which Distributable reserves: -€377,011
- Other debts +€328,237
up €328,237 (+2470.6%), from €13,286 to €341,523
- Debts after one year +€327,087
up €327,087 (+254.2%), from €128,669 to €455,756
- Tax, wage and social debts +€74,867
up €74,867 (+1135.3%), from €6,594 to €81,462
of which Taxes: +€76,068
- Short-term financial debts -€45,529
down €45,529 (-100.0%), from €45,532 to €3
- Gross operating margin -€92,597
down €92,597 (-11.2%), from €829,637 to €737,040
- Taxes -€50,026
down €50,026 (-24.2%), from €206,559 to €156,532
- Other operating charges +€34,027
up €34,027 (+955.5%), from €3,561 to €37,588
- Depreciation +€11,158
up €11,158 (+32.0%), from €34,838 to €45,996
- Financial charges +€8,330
up €8,330 (+117.2%), from €7,110 to €15,440
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 | €1,418,901 | €1,591,621 | +€172,720 | +12.2% |
| Fixed assets | 21/28 | €183,546 | €737,577 | +€554,031 | +301.8% |
| Intangible fixed assets | 21 | €124,000 | €100,000 | -€24,000 | -19.4% |
| Tangible fixed assets | 22/27 | €59,546 | €637,577 | +€578,031 | +970.7% |
| Land and buildings | 22 | - | €589,022 | +€589,022 | |
| Plant, machinery and equipment | 23 | €23,716 | €20,001 | -€3,714 | -15.7% |
| Furniture and vehicles | 24 | €14,204 | €9,212 | -€4,992 | -35.1% |
| Other tangible fixed assets | 26 | €21,626 | €19,342 | -€2,285 | -10.6% |
| Current assets | 29/58 | €1,235,355 | €854,044 | -€381,310 | -30.9% |
| Amounts receivable within one year | 40/41 | €953 | €1,742 | +€789 | +82.8% |
| Trade receivables | 40 | - | €876 | +€876 | |
| Other amounts receivable | 41 | €953 | €866 | -€87 | -9.1% |
| Current investments | 50/53 | €740,000 | €340,000 | -€400,000 | -54.1% |
| Cash at bank and in hand | 54/58 | €178,914 | €194,774 | +€15,860 | +8.9% |
| Deferred charges and accrued income | 490/1 | €315,488 | €317,529 | +€2,041 | +0.6% |
| Total equity and liabilities | 10/49 | €1,418,901 | €1,591,621 | +€172,720 | +12.2% |
| Equity | 10/15 | €1,183,684 | €682,673 | -€501,011 | -42.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,182,684 | €681,673 | -€501,011 | -42.4% |
| Tax-exempt reserves | 132 | €251,100 | €127,100 | -€124,000 | -49.4% |
| Distributable reserves | 133 | €931,584 | €554,573 | -€377,011 | -40.5% |
| Amounts payable | 17/49 | €235,217 | €908,948 | +€673,731 | +286.4% |
| Amounts payable after more than one year | 17 | €128,669 | €455,756 | +€327,087 | +254.2% |
| Financial debts | 170/4 | €128,669 | €455,756 | +€327,087 | +254.2% |
| Amounts payable within one year | 42/48 | €106,548 | €453,192 | +€346,644 | +325.3% |
| Current portion of amounts payable after more than one year | 42 | €27,272 | €27,556 | +€283 | +1.0% |
| Financial debts | 43 | €45,532 | €3 | -€45,529 | -100.0% |
| Credit institutions | 430/8 | €45,532 | €3 | -€45,529 | -100.0% |
| Trade debts | 44 | €13,863 | €2,649 | -€11,214 | -80.9% |
| Suppliers | 440/4 | €13,863 | €2,649 | -€11,214 | -80.9% |
| Taxes, remuneration and social security | 45 | €6,594 | €81,462 | +€74,867 | +1135.3% |
| Taxes | 450/3 | - | €76,068 | +€76,068 | |
| Remuneration and social security | 454/9 | €6,594 | €5,394 | -€1,200 | -18.2% |
| Other amounts payable | 47/48 | €13,286 | €341,523 | +€328,237 | +2470.6% |
| Remuneration, social security and pensions | 62 | €19,758 | €17,752 | -€2,006 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,838 | €45,996 | +€11,158 | +32.0% |
| Other operating charges | 640/8 | €3,561 | €37,588 | +€34,027 | +955.5% |
| Non-recurring operating charges | 66A | €7,133 | - | -€7,133 | |
| Gross operating margin | 9900 | €829,637 | €737,040 | -€92,597 | -11.2% |
| Operating profit (loss) | 9901 | €764,347 | €635,703 | -€128,643 | -16.8% |
| Financial income | 75/76B | €13,176 | €11,729 | -€1,447 | -11.0% |
| Recurring financial income | 75 | €13,176 | €11,729 | -€1,447 | -11.0% |
| Financial charges | 65/66B | €7,110 | €15,440 | +€8,330 | +117.2% |
| Recurring financial charges | 65 | €7,110 | €15,440 | +€8,330 | +117.2% |
| Profit (loss) for the period before taxes | 9903 | €770,413 | €631,992 | -€138,420 | -18.0% |
| Income taxes | 67/77 | €206,559 | €156,532 | -€50,026 | -24.2% |
| Profit (loss) for the period | 9904 | €563,854 | €475,460 | -€88,394 | -15.7% |
| Transfer from tax-exempt reserves | 789 | - | €124,000 | +€124,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €563,854 | €599,460 | +€35,606 | +6.3% |
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 2 October 2026 via checked.be.