DIRECT: 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.
DIRECT
Largest movements
- Tangible fixed assets -€60,665
down €60,665 (-6.0%), from €1.0m to €944,923
of which Land and buildings: -€53,525
- Debts after one year -€38,235
down €38,235 (-6.3%), from €608,082 to €569,848
- Tax, wage and social debts -€24,253
down €24,253 (-51.7%), from €46,876 to €22,623
- Profit (loss) carried forward +€20,493
up €20,493 (+5.7%), from €362,518 to €383,011
- Short-term financial debts -€17,289
down €17,289 (-69.1%), from €25,009 to €7,720
- Gross operating margin +€28,960
up €28,960 (+31.2%), from €92,735 to €121,695
- Taxes +€6,407
up €6,407 (+193.5%), from €3,311 to €9,718
- Other operating charges -€5,200
down €5,200 (-69.1%), from €7,524 to €2,324
- Financial charges +€3,965
up €3,965 (+16.2%), from €24,530 to €28,495
- Depreciation +€3,654
up €3,654 (+6.4%), from €57,011 to €60,665
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,149,188 | €1,087,768 | -€61,419 | -5.3% |
| Fixed assets | 21/28 | €1,022,248 | €968,933 | -€53,315 | -5.2% |
| Tangible fixed assets | 22/27 | €1,005,588 | €944,923 | -€60,665 | -6.0% |
| Land and buildings | 22 | €960,554 | €907,029 | -€53,525 | -5.6% |
| Furniture and vehicles | 24 | €45,034 | €37,894 | -€7,140 | -15.9% |
| Financial fixed assets | 28 | €16,660 | €24,010 | +€7,350 | +44.1% |
| Current assets | 29/58 | €126,940 | €118,836 | -€8,104 | -6.4% |
| Amounts receivable within one year | 40/41 | €125,726 | €118,411 | -€7,315 | -5.8% |
| Trade receivables | 40 | €104,326 | €80,027 | -€24,299 | -23.3% |
| Other amounts receivable | 41 | €21,400 | €38,384 | +€16,984 | +79.4% |
| Cash at bank and in hand | 54/58 | €667 | €425 | -€242 | -36.3% |
| Deferred charges and accrued income | 490/1 | €547 | €0 | -€547 | -100.0% |
| Total equity and liabilities | 10/49 | €1,149,188 | €1,087,768 | -€61,419 | -5.3% |
| Equity | 10/15 | €382,978 | €403,471 | +€20,493 | +5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €362,518 | €383,011 | +€20,493 | +5.7% |
| Amounts payable | 17/49 | €766,209 | €684,297 | -€81,912 | -10.7% |
| Amounts payable after more than one year | 17 | €608,082 | €569,848 | -€38,235 | -6.3% |
| Financial debts | 170/4 | €608,082 | €569,848 | -€38,235 | -6.3% |
| Amounts payable within one year | 42/48 | €158,127 | €114,450 | -€43,677 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €39,839 | €38,235 | -€1,604 | -4.0% |
| Financial debts | 43 | €25,009 | €7,720 | -€17,289 | -69.1% |
| Credit institutions | 430/8 | €25,009 | €7,720 | -€17,289 | -69.1% |
| Trade debts | 44 | - | €9,469 | +€9,469 | |
| Suppliers | 440/4 | - | €9,469 | +€9,469 | |
| Taxes, remuneration and social security | 45 | €46,876 | €22,623 | -€24,253 | -51.7% |
| Taxes | 450/3 | €46,876 | €22,623 | -€24,253 | -51.7% |
| Other amounts payable | 47/48 | €46,403 | €36,403 | -€10,000 | -21.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,011 | €60,665 | +€3,654 | +6.4% |
| Other operating charges | 640/8 | €7,524 | €2,324 | -€5,200 | -69.1% |
| Gross operating margin | 9900 | €92,735 | €121,695 | +€28,960 | +31.2% |
| Operating profit (loss) | 9901 | €28,201 | €58,706 | +€30,505 | +108.2% |
| Financial income | 75/76B | €316 | €0 | -€316 | -100.0% |
| Recurring financial income | 75 | €316 | €0 | -€316 | -100.0% |
| Financial charges | 65/66B | €24,530 | €28,495 | +€3,965 | +16.2% |
| Recurring financial charges | 65 | €24,530 | €28,495 | +€3,965 | +16.2% |
| Profit (loss) for the period before taxes | 9903 | €3,987 | €30,211 | +€26,224 | +657.8% |
| Income taxes | 67/77 | €3,311 | €9,718 | +€6,407 | +193.5% |
| Profit (loss) for the period | 9904 | €675 | €20,493 | +€19,817 | +2934.6% |
| Profit (loss) for the period to be appropriated | 9905 | €675 | €20,493 | +€19,817 | +2934.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.