DU GRIS AU BLEU: what changed
DU GRIS AU BLEU
Largest movements
- Cash +€187,988
up €187,988 (+29,747%), from €632 to €188,620
mainly Net result for the year (+€292,171) and Investment in fixed assets (net) (+€91,470)
- Tangible fixed assets -€100,202
down €100,202 (-74.6%), from €134,405 to €34,202
of which Land and buildings: -€89,027
- Receivables within one year -€17,718
down €17,718 (-53.1%), from €33,347 to €15,629
of which Other amounts receivable: -€11,825
- Deferred charges and accrued income +€4,287
new in 2025: €4,287
- Intangible fixed assets -€2,922
down €2,922 (-10.5%), from €27,757 to €24,835
- Profit (loss) carried forward +€292,171
up €292,171, from -€124,507 to €167,664
- Other debts -€173,291
down €173,291 (-95.8%), from €180,808 to €7,518
- Debts after one year -€36,620
no longer reported in 2025 (was €36,620)
- Trade debts -€11,589
down €11,589 (-95.0%), from €12,195 to €606
- Gross operating margin +€389,617
up €389,617, from -€3,023 to €386,594
- Taxes +€80,191
new in 2025: €80,191
- Depreciation -€10,097
down €10,097 (-43.1%), from €23,423 to €13,326
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €197,812 | €267,573 | +€69,761 | +35.3% |
| Fixed assets | 21/28 | €163,833 | €59,038 | -€104,796 | -64.0% |
| Intangible fixed assets | 21 | €27,757 | €24,835 | -€2,922 | -10.5% |
| Tangible fixed assets | 22/27 | €134,405 | €34,202 | -€100,202 | -74.6% |
| Land and buildings | 22 | €89,027 | - | -€89,027 | |
| Plant, machinery and equipment | 23 | €25,313 | - | -€25,313 | |
| Furniture and vehicles | 24 | €20,065 | €34,202 | +€14,137 | +70.5% |
| Financial fixed assets | 28 | €1,671 | - | -€1,671 | |
| Current assets | 29/58 | €33,979 | €208,535 | +€174,556 | +514% |
| Amounts receivable within one year | 40/41 | €33,347 | €15,629 | -€17,718 | -53.1% |
| Trade receivables | 40 | €5,894 | - | -€5,894 | |
| Other amounts receivable | 41 | €27,454 | €15,629 | -€11,825 | -43.1% |
| Cash at bank and in hand | 54/58 | €632 | €188,620 | +€187,988 | +29,747% |
| Deferred charges and accrued income | 490/1 | - | €4,287 | +€4,287 | |
| Total equity and liabilities | 10/49 | €197,812 | €267,573 | +€69,761 | +35.3% |
| Equity | 10/15 | -€32,722 | €259,449 | +€292,171 | |
| Contributions | 10/11 | €64,350 | €64,350 | = | 0.0% |
| Capital | 10 | €64,350 | €64,350 | = | 0.0% |
| Issued capital | 100 | €64,350 | €64,350 | = | 0.0% |
| Reserves | 13 | €27,435 | €27,435 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,435 | €6,435 | = | 0.0% |
| Legal reserve | 130 | €6,435 | €6,435 | = | 0.0% |
| Distributable reserves | 133 | €21,000 | €21,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€124,507 | €167,664 | +€292,171 | |
| Amounts payable | 17/49 | €230,535 | €8,124 | -€222,410 | -96.5% |
| Amounts payable after more than one year | 17 | €36,620 | - | -€36,620 | |
| Other amounts payable | 178/9 | €36,620 | - | -€36,620 | |
| Amounts payable within one year | 42/48 | €193,915 | €8,124 | -€185,790 | -95.8% |
| Trade debts | 44 | €12,195 | €606 | -€11,589 | -95.0% |
| Suppliers | 440/4 | €12,195 | €606 | -€11,589 | -95.0% |
| Taxes, remuneration and social security | 45 | €911 | - | -€911 | |
| Taxes | 450/3 | €911 | - | -€911 | |
| Other amounts payable | 47/48 | €180,808 | €7,518 | -€173,291 | -95.8% |
| Non-recurring operating income | 76A | €276 | €406,336 | +€406,060 | +147,123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,423 | €13,326 | -€10,097 | -43.1% |
| Other operating charges | 640/8 | €2,405 | €849 | -€1,556 | -64.7% |
| Gross operating margin | 9900 | -€3,023 | €386,594 | +€389,617 | |
| Operating profit (loss) | 9901 | -€28,850 | €372,420 | +€401,270 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €927 | €58 | -€869 | -93.7% |
| Recurring financial charges | 65 | €898 | €58 | -€840 | -93.5% |
| Non-recurring financial charges | 66B | €29 | - | -€29 | |
| Profit (loss) for the period before taxes | 9903 | -€29,777 | €372,362 | +€402,139 | |
| Income taxes | 67/77 | - | €80,191 | +€80,191 | |
| Profit (loss) for the period | 9904 | -€29,777 | €292,171 | +€321,948 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,777 | €292,171 | +€321,948 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.