ELLEN DEFRANCQ: 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.
ELLEN DEFRANCQ
Largest movements
- Tangible fixed assets -€24,719
down €24,719 (-3.6%), from €686,162 to €661,443
of which Land and buildings: -€22,680
- Profit (loss) carried forward -€23,339
down €23,339 (-46.6%), from -€50,101 to -€73,439
- Debts after one year -€22,419
down €22,419 (-4.7%), from €472,272 to €449,854
- Other debts +€21,062
up €21,062 (+31.2%), from €67,405 to €88,468
- Other operating charges -€941
down €941 (-26.0%), from €3,624 to €2,683
- Financial charges -€621
down €621 (-4.0%), from €15,435 to €14,814
- Depreciation -€367
down €367 (-1.5%), from €25,086 to €24,719
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 | €686,871 | €665,254 | -€21,618 | -3.1% |
| Fixed assets | 21/28 | €686,162 | €661,443 | -€24,719 | -3.6% |
| Tangible fixed assets | 22/27 | €686,162 | €661,443 | -€24,719 | -3.6% |
| Land and buildings | 22 | €682,409 | €659,729 | -€22,680 | -3.3% |
| Plant, machinery and equipment | 23 | €182 | €65 | -€117 | -64.3% |
| Furniture and vehicles | 24 | €3,570 | €1,649 | -€1,922 | -53.8% |
| Current assets | 29/58 | €710 | €3,811 | +€3,102 | +437% |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €709 | €2,768 | +€2,059 | +291% |
| Deferred charges and accrued income | 490/1 | - | €1,043 | +€1,043 | |
| Total equity and liabilities | 10/49 | €686,871 | €665,254 | -€21,618 | -3.1% |
| Equity | 10/15 | €122,153 | €98,814 | -€23,339 | -19.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €153,653 | €153,653 | = | 0.0% |
| Distributable reserves | 133 | €153,653 | €153,653 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€50,101 | -€73,439 | -€23,339 | -46.6% |
| Amounts payable | 17/49 | €564,719 | €566,440 | +€1,721 | +0.3% |
| Amounts payable after more than one year | 17 | €472,272 | €449,854 | -€22,419 | -4.7% |
| Financial debts | 170/4 | €472,272 | €449,854 | -€22,419 | -4.7% |
| Amounts payable within one year | 42/48 | €90,401 | €114,438 | +€24,037 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €21,779 | €22,419 | +€640 | +2.9% |
| Financial debts | 43 | €119 | €38 | -€81 | -68.2% |
| Credit institutions | 430/8 | €119 | €38 | -€81 | -68.2% |
| Trade debts | 44 | €1,098 | €3,514 | +€2,416 | +220% |
| Suppliers | 440/4 | €1,098 | €3,514 | +€2,416 | +220% |
| Other amounts payable | 47/48 | €67,405 | €88,468 | +€21,062 | +31.2% |
| Accrued charges and deferred income | 492/3 | €2,045 | €2,148 | +€103 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,086 | €24,719 | -€367 | -1.5% |
| Other operating charges | 640/8 | €3,624 | €2,683 | -€941 | -26.0% |
| Gross operating margin | 9900 | €18,708 | €18,877 | +€169 | +0.9% |
| Operating profit (loss) | 9901 | -€10,002 | -€8,525 | +€1,477 | +14.8% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €15,435 | €14,814 | -€621 | -4.0% |
| Recurring financial charges | 65 | €15,435 | €14,814 | -€621 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€25,435 | -€23,339 | +€2,096 | +8.2% |
| Profit (loss) for the period | 9904 | -€25,435 | -€23,339 | +€2,096 | +8.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,435 | -€23,339 | +€2,096 | +8.2% |
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 31 October 2026 via checked.be.