DOUBLE A: 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.
DOUBLE A
Largest movements
- Tangible fixed assets -€36,164
down €36,164 (-9.7%), from €371,864 to €335,700
of which Land and buildings: -€19,238
- Current investments -€25,000
down €25,000 (-100.0%), from €25,000 to €0
- Cash -€6,756
down €6,756 (-14.7%), from €45,902 to €39,146
mainly Other debts (-€54,189) and Debts after one year (-€41,128)
- Other debts -€54,189
down €54,189 (-100.0%), from €54,189 to €0
- Debts after one year -€41,128
down €41,128 (-22.5%), from €182,614 to €141,486
- Reserves +€36,500
up €36,500 (+34.6%), from €105,400 to €141,900
- Current portion of long-term debt -€10,307
down €10,307 (-18.5%), from €55,756 to €45,449
- Gross operating margin -€9,229
down €9,229 (-8.9%), from €104,052 to €94,824
- Taxes -€2,343
down €2,343 (-16.1%), from €14,536 to €12,193
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 | €449,853 | €384,020 | -€65,833 | -14.6% |
| Fixed assets | 21/28 | €371,864 | €335,700 | -€36,164 | -9.7% |
| Tangible fixed assets | 22/27 | €371,864 | €335,700 | -€36,164 | -9.7% |
| Land and buildings | 22 | €260,775 | €241,538 | -€19,238 | -7.4% |
| Plant, machinery and equipment | 23 | €109,334 | €93,599 | -€15,735 | -14.4% |
| Furniture and vehicles | 24 | €1,755 | €564 | -€1,191 | -67.9% |
| Current assets | 29/58 | €77,989 | €48,320 | -€29,669 | -38.0% |
| Amounts receivable within one year | 40/41 | €5,992 | €5,348 | -€643 | -10.7% |
| Trade receivables | 40 | €3,274 | €4,021 | +€747 | +22.8% |
| Other amounts receivable | 41 | €2,717 | €1,327 | -€1,390 | -51.2% |
| Current investments | 50/53 | €25,000 | €0 | -€25,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €45,902 | €39,146 | -€6,756 | -14.7% |
| Deferred charges and accrued income | 490/1 | €1,096 | €3,826 | +€2,730 | +249.1% |
| Total equity and liabilities | 10/49 | €449,853 | €384,020 | -€65,833 | -14.6% |
| Equity | 10/15 | €155,406 | €191,959 | +€36,552 | +23.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €105,400 | €141,900 | +€36,500 | +34.6% |
| Distributable reserves | 133 | €105,400 | €141,900 | +€36,500 | +34.6% |
| Profit (loss) carried forward | 14 | €6 | €59 | +€52 | +819.3% |
| Amounts payable | 17/49 | €294,447 | €192,062 | -€102,385 | -34.8% |
| Amounts payable after more than one year | 17 | €182,614 | €141,486 | -€41,128 | -22.5% |
| Financial debts | 170/4 | €182,614 | €141,486 | -€41,128 | -22.5% |
| Amounts payable within one year | 42/48 | €110,161 | €48,946 | -€61,216 | -55.6% |
| Current portion of amounts payable after more than one year | 42 | €55,756 | €45,449 | -€10,307 | -18.5% |
| Trade debts | 44 | €217 | €3,496 | +€3,280 | +1514.6% |
| Suppliers | 440/4 | €217 | €3,496 | +€3,280 | +1514.6% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €54,189 | €0 | -€54,189 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,671 | €1,630 | -€41 | -2.5% |
| Non-recurring operating income | 76A | €0 | €132 | +€132 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,483 | €36,164 | -€319 | -0.9% |
| Other operating charges | 640/8 | €6,984 | €7,149 | +€165 | +2.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €104,052 | €94,824 | -€9,229 | -8.9% |
| Operating profit (loss) | 9901 | €60,585 | €51,510 | -€9,075 | -15.0% |
| Financial income | 75/76B | €1,790 | €901 | -€889 | -49.7% |
| Recurring financial income | 75 | €1,790 | €901 | -€889 | -49.7% |
| Financial charges | 65/66B | €4,474 | €3,666 | -€808 | -18.1% |
| Recurring financial charges | 65 | €4,474 | €3,666 | -€808 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €57,902 | €48,746 | -€9,156 | -15.8% |
| Income taxes | 67/77 | €14,536 | €12,193 | -€2,343 | -16.1% |
| Profit (loss) for the period | 9904 | €43,365 | €36,552 | -€6,813 | -15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €43,365 | €36,552 | -€6,813 | -15.7% |
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 29 September 2026 via checked.be.