EDITEAM: 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.
EDITEAM
Largest movements
- Cash -€143,076
down €143,076 (-41.5%), from €345,084 to €202,008
mainly Debts after one year (-€140,000) and Net result for the year (-€40,324)
- Tangible fixed assets -€66,671
down €66,671 (-5.1%), from €1.3m to €1.2m
of which Land and buildings: -€88,661
- Debts after one year -€140,000
down €140,000 (-20.5%), from €684,500 to €544,500
of which Financial debts: -€140,000
- Reserves -€40,324
down €40,324 (-6.2%), from €648,749 to €608,426
of which Distributable reserves: -€29,565
- Other debts -€24,836
down €24,836 (-15.1%), from €164,383 to €139,546
- Gross operating margin -€46,571
down €46,571 (-24.5%), from €190,147 to €143,576
- Taxes -€9,560
down €9,560 (-94.8%), from €10,088 to €528
- Financial charges +€4,776
up €4,776 (+13.1%), from €36,354 to €41,131
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 | €1,813,945 | €1,613,727 | -€200,218 | -11.0% |
| Fixed assets | 21/28 | €1,316,734 | €1,250,064 | -€66,671 | -5.1% |
| Tangible fixed assets | 22/27 | €1,316,281 | €1,249,610 | -€66,671 | -5.1% |
| Land and buildings | 22 | €1,229,594 | €1,140,933 | -€88,661 | -7.2% |
| Plant, machinery and equipment | 23 | €54,339 | €82,822 | +€28,483 | +52.4% |
| Furniture and vehicles | 24 | €32,348 | €25,856 | -€6,492 | -20.1% |
| Financial fixed assets | 28 | €454 | €454 | = | 0.0% |
| Current assets | 29/58 | €497,211 | €363,664 | -€133,547 | -26.9% |
| Amounts receivable within one year | 40/41 | €152,127 | €161,655 | +€9,529 | +6.3% |
| Trade receivables | 40 | €151,886 | €161,655 | +€9,770 | +6.4% |
| Other amounts receivable | 41 | €241 | €0 | -€241 | -100% |
| Cash at bank and in hand | 54/58 | €345,084 | €202,008 | -€143,076 | -41.5% |
| Total equity and liabilities | 10/49 | €1,813,945 | €1,613,727 | -€200,218 | -11.0% |
| Equity | 10/15 | €824,580 | €784,256 | -€40,324 | -4.9% |
| Contributions | 10/11 | €175,831 | €175,831 | = | 0.0% |
| Reserves | 13 | €648,749 | €608,426 | -€40,324 | -6.2% |
| Tax-exempt reserves | 132 | €311,716 | €300,957 | -€10,759 | -3.5% |
| Distributable reserves | 133 | €337,034 | €307,469 | -€29,565 | -8.8% |
| Provisions and deferred taxes | 16 | €103,905 | €100,319 | -€3,586 | -3.5% |
| Deferred taxes | 168 | €103,905 | €100,319 | -€3,586 | -3.5% |
| Amounts payable | 17/49 | €885,460 | €729,152 | -€156,308 | -17.7% |
| Amounts payable after more than one year | 17 | €684,500 | €544,500 | -€140,000 | -20.5% |
| Financial debts | 170/4 | €140,000 | €0 | -€140,000 | -100% |
| Other amounts payable | 178/9 | €544,500 | €544,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €200,960 | €184,652 | -€16,308 | -8.1% |
| Trade debts | 44 | €15,648 | €31,177 | +€15,529 | +99.2% |
| Suppliers | 440/4 | €15,648 | €31,177 | +€15,529 | +99.2% |
| Taxes, remuneration and social security | 45 | €20,930 | €13,929 | -€7,001 | -33.4% |
| Taxes | 450/3 | €20,930 | €13,929 | -€7,001 | -33.4% |
| Other amounts payable | 47/48 | €164,383 | €139,546 | -€24,836 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,905 | €102,175 | +€1,270 | +1.3% |
| Other operating charges | 640/8 | €42,472 | €43,652 | +€1,180 | +2.8% |
| Gross operating margin | 9900 | €190,147 | €143,576 | -€46,571 | -24.5% |
| Operating profit (loss) | 9901 | €46,770 | -€2,252 | -€49,021 | |
| Financial income | 75/76B | €688 | €0 | -€688 | -100% |
| Recurring financial income | 75 | €688 | €0 | -€688 | -100% |
| Financial charges | 65/66B | €36,354 | €41,131 | +€4,776 | +13.1% |
| Recurring financial charges | 65 | €36,354 | €41,131 | +€4,776 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €11,103 | -€43,382 | -€54,486 | |
| Transfer from deferred taxes | 780 | €3,586 | €3,586 | = | 0.0% |
| Income taxes | 67/77 | €10,088 | €528 | -€9,560 | -94.8% |
| Profit (loss) for the period | 9904 | €4,602 | -€40,324 | -€44,925 | |
| Transfer from tax-exempt reserves | 789 | €10,759 | €10,759 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,361 | -€29,565 | -€44,925 |
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 17 October 2026 via checked.be.