EINDE WERE: 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.
EINDE WERE
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+43.1%), from €2.8m to €3.9m
- Current portion of long-term debt +€1.2m
up €1.2m (+165%), from €743,551 to €2.0m
- Other debts +€477,028
up €477,028 (+28.0%), from €1.7m to €2.2m
- Profit (loss) carried forward -€420,873
down €420,873 (-124%), from -€340,431 to -€761,305
- Trade debts -€58,759
down €58,759 (-99.4%), from €59,124 to €366
- Financial charges +€95,596
up €95,596 (+79.6%), from €120,135 to €215,731
- Gross operating margin -€58,167
down €58,167 (-128%), from -€45,452 to -€103,619
- Depreciation +€41,815
up €41,815 (+73.1%), from €57,228 to €99,043
- Other operating charges -€15,733
down €15,733 (-86.4%), from €18,214 to €2,481
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 | €2,766,918 | €3,991,229 | +€1.2m | +44.2% |
| Fixed assets | 21/28 | €2,753,846 | €3,940,052 | +€1.2m | +43.1% |
| Tangible fixed assets | 22/27 | €2,753,846 | €3,940,052 | +€1.2m | +43.1% |
| Land and buildings | 22 | €2,753,846 | €3,940,052 | +€1.2m | +43.1% |
| Current assets | 29/58 | €13,073 | €51,176 | +€38,104 | +291% |
| Amounts receivable within one year | 40/41 | - | €34,534 | +€34,534 | |
| Trade receivables | 40 | - | €26,164 | +€26,164 | |
| Other amounts receivable | 41 | - | €8,370 | +€8,370 | |
| Cash at bank and in hand | 54/58 | €13,073 | €16,642 | +€3,569 | +27.3% |
| Total equity and liabilities | 10/49 | €2,766,918 | €3,991,229 | +€1.2m | +44.2% |
| Equity | 10/15 | €259,569 | -€161,305 | -€420,873 | |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€340,431 | -€761,305 | -€420,873 | -124% |
| Amounts payable | 17/49 | €2,507,350 | €4,152,533 | +€1.6m | +65.6% |
| Amounts payable within one year | 42/48 | €2,507,350 | €4,152,533 | +€1.6m | +65.6% |
| Current portion of amounts payable after more than one year | 42 | €743,551 | €1,970,465 | +€1.2m | +165% |
| Trade debts | 44 | €59,124 | €366 | -€58,759 | -99.4% |
| Suppliers | 440/4 | €59,124 | €366 | -€58,759 | -99.4% |
| Other amounts payable | 47/48 | €1,704,675 | €2,181,703 | +€477,028 | +28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,228 | €99,043 | +€41,815 | +73.1% |
| Other operating charges | 640/8 | €18,214 | €2,481 | -€15,733 | -86.4% |
| Gross operating margin | 9900 | -€45,452 | -€103,619 | -€58,167 | -128% |
| Operating profit (loss) | 9901 | -€120,894 | -€205,142 | -€84,249 | -69.7% |
| Financial charges | 65/66B | €120,135 | €215,731 | +€95,596 | +79.6% |
| Recurring financial charges | 65 | €120,135 | €215,731 | +€95,596 | +79.6% |
| Profit (loss) for the period before taxes | 9903 | -€241,029 | -€420,873 | -€179,845 | -74.6% |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | -€241,029 | -€420,873 | -€179,845 | -74.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€241,029 | -€420,873 | -€179,845 | -74.6% |
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 14 October 2026 via checked.be.