DEVELOPMENT S: 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.
DEVELOPMENT S
Largest movements
- Tangible fixed assets -€26,811
down €26,811 (-2.6%), from €1.0m to €1.0m
of which Land and buildings: -€25,561
- Debts after one year -€27,273
down €27,273 (-100%), from €27,273 to €0
- Gross operating margin -€5,005
down €5,005 (-12.1%), from €41,498 to €36,493
- Depreciation +€3,004
up €3,004 (+12.6%), from €23,807 to €26,811
- Financial charges -€2,551
down €2,551 (-14.5%), from €17,622 to €15,071
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 | €1,051,632 | €1,017,994 | -€33,638 | -3.2% |
| Fixed assets | 21/28 | €1,042,217 | €1,015,406 | -€26,811 | -2.6% |
| Tangible fixed assets | 22/27 | €1,040,037 | €1,013,226 | -€26,811 | -2.6% |
| Land and buildings | 22 | €1,033,815 | €1,008,254 | -€25,561 | -2.5% |
| Furniture and vehicles | 24 | €6,222 | €4,972 | -€1,250 | -20.1% |
| Financial fixed assets | 28 | €2,180 | €2,180 | = | 0.0% |
| Current assets | 29/58 | €9,415 | €2,587 | -€6,828 | -72.5% |
| Stocks and contracts in progress | 3 | €574 | €574 | = | 0.0% |
| Stocks | 30/36 | €574 | €574 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1 | €1 | = | 0.0% |
| Other amounts receivable | 41 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,839 | €2,012 | -€6,828 | -77.2% |
| Total equity and liabilities | 10/49 | €1,051,632 | €1,017,994 | -€33,638 | -3.2% |
| Equity | 10/15 | €460,607 | €453,845 | -€6,762 | -1.5% |
| Contributions | 10/11 | €1,240,000 | €1,240,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€779,393 | -€786,155 | -€6,762 | -0.9% |
| Amounts payable | 17/49 | €591,025 | €564,149 | -€26,877 | -4.5% |
| Amounts payable after more than one year | 17 | €27,273 | €0 | -€27,273 | -100% |
| Financial debts | 170/4 | €27,273 | €0 | -€27,273 | -100% |
| Amounts payable within one year | 42/48 | €563,753 | €564,149 | +€396 | +0.1% |
| Current portion of amounts payable after more than one year | 42 | €27,273 | €27,273 | -€0 | 0.0% |
| Trade debts | 44 | €1,580 | €260 | -€1,320 | -83.5% |
| Suppliers | 440/4 | €1,580 | €260 | -€1,320 | -83.5% |
| Other amounts payable | 47/48 | €534,900 | €536,616 | +€1,716 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,807 | €26,811 | +€3,004 | +12.6% |
| Other operating charges | 640/8 | €1,245 | €1,372 | +€126 | +10.1% |
| Gross operating margin | 9900 | €41,498 | €36,493 | -€5,005 | -12.1% |
| Operating profit (loss) | 9901 | €16,445 | €8,310 | -€8,135 | -49.5% |
| Financial charges | 65/66B | €17,622 | €15,071 | -€2,551 | -14.5% |
| Recurring financial charges | 65 | €17,622 | €15,071 | -€2,551 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,177 | -€6,762 | -€5,584 | -474% |
| Profit (loss) for the period | 9904 | -€1,177 | -€6,762 | -€5,584 | -474% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,177 | -€6,762 | -€5,584 | -474% |
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 13 October 2026 via checked.be.