Equal: what changed
Two fiscal 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.
Equal
Largest movements
- Current investments -€40,835
down €40,835 (-100.0%), from €40,835 to €0
- Tangible fixed assets +€26,408
up €26,408 (+15.3%), from €172,622 to €199,030
of which Land and buildings: +€28,657
- Cash -€5,981
down €5,981 (-12.0%), from €49,723 to €43,742
mainly Contributions, distributions and other (-€137,621) and Investment in fixed assets (net) (-€41,259)
- Receivables within one year -€5,930
down €5,930 (-64.6%), from €9,180 to €3,250
of which Other amounts receivable: -€5,930
- Profit (loss) carried forward -€104,975
down €104,975 (-100.0%), from €104,975 to €0
- Other debts +€78,719
up €78,719 (+15824.4%), from €497 to €79,216
- Tax, wage and social debts +€17,845
up €17,845 (+376.0%), from €4,746 to €22,591
- Trade debts -€9,068
down €9,068 (-80.1%), from €11,317 to €2,249
- Debts after one year -€8,179
down €8,179 (-5.9%), from €138,248 to €130,069
- Gross operating margin +€14,142
up €14,142 (+28.2%), from €50,091 to €64,233
- Depreciation +€6,206
up €6,206 (+71.8%), from €8,645 to €14,851
- Financial charges +€1,867
up €1,867 (+56.5%), from €3,304 to €5,171
- Other operating charges +€1,526
up €1,526 (+154.3%), from €989 to €2,515
- Taxes +€1,022
up €1,022 (+11.4%), from €8,942 to €9,963
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.
Cash bridge derived
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 | €274,805 | €248,432 | -€26,373 | -9.6% |
| Fixed assets | 21/28 | €172,622 | €199,030 | +€26,408 | +15.3% |
| Tangible fixed assets | 22/27 | €172,622 | €199,030 | +€26,408 | +15.3% |
| Land and buildings | 22 | €163,849 | €192,505 | +€28,657 | +17.5% |
| Plant, machinery and equipment | 23 | €239 | €151 | -€88 | -36.8% |
| Furniture and vehicles | 24 | €8,534 | €6,374 | -€2,161 | -25.3% |
| Current assets | 29/58 | €102,182 | €49,402 | -€52,781 | -51.7% |
| Amounts receivable within one year | 40/41 | €9,180 | €3,250 | -€5,930 | -64.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €9,180 | €3,250 | -€5,930 | -64.6% |
| Current investments | 50/53 | €40,835 | €0 | -€40,835 | -100.0% |
| Cash at bank and in hand | 54/58 | €49,723 | €43,742 | -€5,981 | -12.0% |
| Deferred charges and accrued income | 490/1 | €2,444 | €2,410 | -€34 | -1.4% |
| Total equity and liabilities | 10/49 | €274,805 | €248,432 | -€26,373 | -9.6% |
| Equity | 10/15 | €109,975 | €5,000 | -€104,975 | -95.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €104,975 | €0 | -€104,975 | -100.0% |
| Amounts payable | 17/49 | €164,829 | €243,432 | +€78,602 | +47.7% |
| Amounts payable after more than one year | 17 | €138,248 | €130,069 | -€8,179 | -5.9% |
| Financial debts | 170/4 | €138,248 | €130,069 | -€8,179 | -5.9% |
| Amounts payable within one year | 42/48 | €26,581 | €113,363 | +€86,782 | +326.5% |
| Current portion of amounts payable after more than one year | 42 | €7,902 | €8,179 | +€278 | +3.5% |
| Financial debts | 43 | €2,118 | €1,127 | -€991 | -46.8% |
| Credit institutions | 430/8 | €2,118 | €1,127 | -€991 | -46.8% |
| Trade debts | 44 | €11,317 | €2,249 | -€9,068 | -80.1% |
| Suppliers | 440/4 | €11,317 | €2,249 | -€9,068 | -80.1% |
| Taxes, remuneration and social security | 45 | €4,746 | €22,591 | +€17,845 | +376.0% |
| Taxes | 450/3 | €4,746 | €22,591 | +€17,845 | +376.0% |
| Other amounts payable | 47/48 | €497 | €79,216 | +€78,719 | +15824.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,645 | €14,851 | +€6,206 | +71.8% |
| Other operating charges | 640/8 | €989 | €2,515 | +€1,526 | +154.3% |
| Gross operating margin | 9900 | €50,091 | €64,233 | +€14,142 | +28.2% |
| Operating profit (loss) | 9901 | €40,458 | €46,867 | +€6,409 | +15.8% |
| Financial income | 75/76B | €1,296 | €913 | -€383 | -29.6% |
| Recurring financial income | 75 | €1,296 | €913 | -€383 | -29.6% |
| Financial charges | 65/66B | €3,304 | €5,171 | +€1,867 | +56.5% |
| Recurring financial charges | 65 | €3,304 | €5,171 | +€1,867 | +56.5% |
| Profit (loss) for the period before taxes | 9903 | €38,450 | €42,610 | +€4,159 | +10.8% |
| Income taxes | 67/77 | €8,942 | €9,963 | +€1,022 | +11.4% |
| Profit (loss) for the period | 9904 | €29,509 | €32,646 | +€3,137 | +10.6% |
| Profit (loss) for the period to be appropriated | 9905 | €29,509 | €32,646 | +€3,137 | +10.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.