DOUBLE 'Z: 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.
DOUBLE 'Z
Largest movements
- Tangible fixed assets -€13,723
down €13,723 (-4.1%), from €334,800 to €321,077
of which Land and buildings: -€11,975
- Debts after one year -€23,252
down €23,252 (-8.4%), from €275,414 to €252,162
of which Financial debts: -€23,252
- Short-term financial debts +€7,213
up €7,213 (+115%), from €6,280 to €13,493
- Trade debts +€6,942
up €6,942 (+43.4%), from €15,986 to €22,928
- Tax, wage and social debts -€5,480
down €5,480 (-18.2%), from €30,078 to €24,598
- Gross operating margin +€23,311
up €23,311 (+224%), from €10,391 to €33,703
- Other operating charges -€6,613
down €6,613 (-76.0%), from €8,701 to €2,088
- Depreciation +€1,867
up €1,867 (+9.6%), from €19,470 to €21,337
- Financial charges +€906
up €906 (+11.9%), from €7,637 to €8,543
- Financial income -€528
down €528 (-99.9%), from €529 to €0
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €370,795 | €357,935 | -€12,860 | -3.5% |
| Fixed assets | 21/28 | €334,970 | €321,077 | -€13,893 | -4.1% |
| Tangible fixed assets | 22/27 | €334,800 | €321,077 | -€13,723 | -4.1% |
| Land and buildings | 22 | €330,543 | €318,568 | -€11,975 | -3.6% |
| Plant, machinery and equipment | 23 | €2,217 | €1,506 | -€712 | -32.1% |
| Furniture and vehicles | 24 | €2,040 | €1,004 | -€1,036 | -50.8% |
| Financial fixed assets | 28 | €170 | - | -€170 | |
| Current assets | 29/58 | €35,825 | €36,858 | +€1,033 | +2.9% |
| Amounts receivable within one year | 40/41 | €35,303 | €36,858 | +€1,555 | +4.4% |
| Trade receivables | 40 | €18,626 | €16,768 | -€1,858 | -10.0% |
| Other amounts receivable | 41 | €16,677 | €20,089 | +€3,412 | +20.5% |
| Deferred charges and accrued income | 490/1 | €521 | - | -€521 | |
| Total equity and liabilities | 10/49 | €370,795 | €357,935 | -€12,860 | -3.5% |
| Equity | 10/15 | €20,306 | €21,501 | +€1,196 | +5.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,306 | €17,501 | +€1,196 | +7.3% |
| Amounts payable | 17/49 | €350,489 | €336,434 | -€14,055 | -4.0% |
| Amounts payable after more than one year | 17 | €275,414 | €252,162 | -€23,252 | -8.4% |
| Financial debts | 170/4 | €233,714 | €210,462 | -€23,252 | -9.9% |
| Other amounts payable | 178/9 | €41,700 | €41,700 | = | 0.0% |
| Amounts payable within one year | 42/48 | €75,075 | €84,271 | +€9,196 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €22,731 | €23,252 | +€521 | +2.3% |
| Financial debts | 43 | €6,280 | €13,493 | +€7,213 | +115% |
| Credit institutions | 430/8 | €6,280 | €13,493 | +€7,213 | +115% |
| Trade debts | 44 | €15,986 | €22,928 | +€6,942 | +43.4% |
| Suppliers | 440/4 | €15,986 | €22,928 | +€6,942 | +43.4% |
| Taxes, remuneration and social security | 45 | €30,078 | €24,598 | -€5,480 | -18.2% |
| Taxes | 450/3 | €30,078 | €24,598 | -€5,480 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,470 | €21,337 | +€1,867 | +9.6% |
| Other operating charges | 640/8 | €8,701 | €2,088 | -€6,613 | -76.0% |
| Gross operating margin | 9900 | €10,391 | €33,703 | +€23,311 | +224% |
| Operating profit (loss) | 9901 | -€17,780 | €10,278 | +€28,057 | |
| Financial income | 75/76B | €529 | €0 | -€528 | -99.9% |
| Recurring financial income | 75 | €529 | €0 | -€528 | -99.9% |
| Financial charges | 65/66B | €7,637 | €8,543 | +€906 | +11.9% |
| Recurring financial charges | 65 | €7,637 | €8,543 | +€906 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | -€24,888 | €1,735 | +€26,624 | |
| Income taxes | 67/77 | €530 | €540 | +€10 | +1.8% |
| Profit (loss) for the period | 9904 | -€25,418 | €1,196 | +€26,614 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,418 | €1,196 | +€26,614 |
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 19 October 2026 via checked.be.