EIGHTEEN PLUS: 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.
EIGHTEEN PLUS
Largest movements
- Tangible fixed assets +€175,717
up €175,717 (+24.6%), from €715,240 to €890,957
of which Land and buildings: +€132,286
- Debts after one year +€195,039
up €195,039 (+55.9%), from €349,158 to €544,197
- Profit (loss) carried forward -€82,676
down €82,676 (-190%), from -€43,491 to -€126,167
- Other debts +€76,728
up €76,728 (+186%), from €41,272 to €118,000
- Trade debts -€44,132
down €44,132 (-73.2%), from €60,317 to €16,185
- Tax, wage and social debts +€13,164
new in 2025: €13,164
of which Remuneration and social security: +€9,183
- Gross operating margin +€118,202
up €118,202, from -€25,087 to €93,114
- Staff costs +€89,779
new in 2025: €89,779
- Depreciation +€47,678
up €47,678 (+343%), from €13,884 to €61,562
- Financial charges +€18,956
up €18,956 (+546%), from €3,472 to €22,428
- Other operating charges +€974
up €974 (+92.9%), from €1,047 to €2,021
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 | €730,744 | €898,915 | +€168,171 | +23.0% |
| Fixed assets | 21/28 | €715,240 | €891,527 | +€176,287 | +24.6% |
| Tangible fixed assets | 22/27 | €715,240 | €890,957 | +€175,717 | +24.6% |
| Land and buildings | 22 | €683,103 | €815,389 | +€132,286 | +19.4% |
| Plant, machinery and equipment | 23 | €31,153 | €48,235 | +€17,082 | +54.8% |
| Furniture and vehicles | 24 | €983 | €13,849 | +€12,866 | +1,308% |
| Other tangible fixed assets | 26 | - | €13,483 | +€13,483 | |
| Financial fixed assets | 28 | - | €570 | +€570 | |
| Current assets | 29/58 | €15,504 | €7,388 | -€8,116 | -52.3% |
| Stocks and contracts in progress | 3 | - | €3,583 | +€3,583 | |
| Stocks | 30/36 | - | €3,583 | +€3,583 | |
| Amounts receivable within one year | 40/41 | €7,029 | €977 | -€6,053 | -86.1% |
| Other amounts receivable | 41 | €7,029 | €977 | -€6,053 | -86.1% |
| Cash at bank and in hand | 54/58 | €7,800 | €2,351 | -€5,449 | -69.9% |
| Deferred charges and accrued income | 490/1 | €675 | €477 | -€198 | -29.3% |
| Total equity and liabilities | 10/49 | €730,744 | €898,915 | +€168,171 | +23.0% |
| Equity | 10/15 | €256,509 | €173,833 | -€82,676 | -32.2% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,491 | -€126,167 | -€82,676 | -190% |
| Amounts payable | 17/49 | €474,235 | €725,081 | +€250,846 | +52.9% |
| Amounts payable after more than one year | 17 | €349,158 | €544,197 | +€195,039 | +55.9% |
| Financial debts | 170/4 | €349,158 | €544,197 | +€195,039 | +55.9% |
| Amounts payable within one year | 42/48 | €125,077 | €180,884 | +€55,807 | +44.6% |
| Current portion of amounts payable after more than one year | 42 | €23,488 | €32,315 | +€8,827 | +37.6% |
| Trade debts | 44 | €60,317 | €16,185 | -€44,132 | -73.2% |
| Suppliers | 440/4 | €60,317 | €16,185 | -€44,132 | -73.2% |
| Advances received on contracts in progress | 46 | - | €1,220 | +€1,220 | |
| Taxes, remuneration and social security | 45 | - | €13,164 | +€13,164 | |
| Taxes | 450/3 | - | €3,981 | +€3,981 | |
| Remuneration and social security | 454/9 | - | €9,183 | +€9,183 | |
| Other amounts payable | 47/48 | €41,272 | €118,000 | +€76,728 | +186% |
| Remuneration, social security and pensions | 62 | - | €89,779 | +€89,779 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,884 | €61,562 | +€47,678 | +343% |
| Other operating charges | 640/8 | €1,047 | €2,021 | +€974 | +92.9% |
| Gross operating margin | 9900 | -€25,087 | €93,114 | +€118,202 | |
| Operating profit (loss) | 9901 | -€40,019 | -€60,248 | -€20,229 | -50.5% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,472 | €22,428 | +€18,956 | +546% |
| Recurring financial charges | 65 | €3,472 | €22,428 | +€18,956 | +546% |
| Profit (loss) for the period before taxes | 9903 | -€43,491 | -€82,676 | -€39,185 | -90.1% |
| Profit (loss) for the period | 9904 | -€43,491 | -€82,676 | -€39,185 | -90.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,491 | -€82,676 | -€39,185 | -90.1% |
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 24 October 2026 via checked.be.