EVELUTION: 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.
EVELUTION
Largest movements
- Financial fixed assets +€400,000
up €400,000 (+7.2%), from €5.5m to €5.9m
- Cash -€219,477
down €219,477 (-91.4%), from €240,153 to €20,677
mainly Investment in fixed assets (net) (-€400,000) and Debts after one year (-€50,372)
- Other debts +€165,308
up €165,308 (+20.7%), from €798,604 to €963,912
- Financial income -€2.4m
no longer reported in 2025 (was €2.4m)
of which Non-recurring financial income: -€1.8m
- Gross operating margin +€42,577
up €42,577 (+102.5%), from €41,533 to €84,110
- Financial charges +€6,860
up €6,860 (+13.1%), from €52,423 to €59,283
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 | €5,850,605 | €6,012,002 | +€161,397 | +2.8% |
| Fixed assets | 21/28 | €5,534,628 | €5,934,628 | +€400,000 | +7.2% |
| Financial fixed assets | 28 | €5,534,628 | €5,934,628 | +€400,000 | +7.2% |
| Current assets | 29/58 | €315,977 | €77,374 | -€238,603 | -75.5% |
| Amounts receivable within one year | 40/41 | €75,824 | €56,206 | -€19,618 | -25.9% |
| Trade receivables | 40 | €75,817 | €56,198 | -€19,618 | -25.9% |
| Other amounts receivable | 41 | €7 | €7 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €240,153 | €20,677 | -€219,477 | -91.4% |
| Deferred charges and accrued income | 490/1 | - | €492 | +€492 | |
| Total equity and liabilities | 10/49 | €5,850,605 | €6,012,002 | +€161,397 | +2.8% |
| Equity | 10/15 | €4,675,286 | €4,698,965 | +€23,679 | +0.5% |
| Contributions | 10/11 | €550,000 | €550,000 | = | 0.0% |
| Reserves | 13 | €4,125,286 | €4,148,965 | +€23,679 | +0.6% |
| Distributable reserves | 133 | €4,125,286 | €4,148,965 | +€23,679 | +0.6% |
| Amounts payable | 17/49 | €1,175,319 | €1,313,037 | +€137,718 | +11.7% |
| Amounts payable after more than one year | 17 | €267,602 | €217,229 | -€50,372 | -18.8% |
| Financial debts | 170/4 | €267,602 | €217,229 | -€50,372 | -18.8% |
| Amounts payable within one year | 42/48 | €880,909 | €1,055,204 | +€174,295 | +19.8% |
| Current portion of amounts payable after more than one year | 42 | €52,899 | €54,503 | +€1,604 | +3.0% |
| Trade debts | 44 | €16,604 | €13,764 | -€2,840 | -17.1% |
| Suppliers | 440/4 | €16,604 | €13,764 | -€2,840 | -17.1% |
| Taxes, remuneration and social security | 45 | €12,802 | €23,025 | +€10,223 | +79.9% |
| Taxes | 450/3 | €12,802 | €23,025 | +€10,223 | +79.9% |
| Other amounts payable | 47/48 | €798,604 | €963,912 | +€165,308 | +20.7% |
| Accrued charges and deferred income | 492/3 | €26,808 | €40,604 | +€13,796 | +51.5% |
| Other operating charges | 640/8 | €1,476 | €1,148 | -€328 | -22.2% |
| Gross operating margin | 9900 | €41,533 | €84,110 | +€42,577 | +102.5% |
| Operating profit (loss) | 9901 | €40,057 | €82,962 | +€42,905 | +107.1% |
| Financial income | 75/76B | €2,369,024 | - | -€2.4m | |
| Recurring financial income | 75 | €575,024 | - | -€575,024 | |
| Non-recurring financial income | 76B | €1,794,000 | - | -€1.8m | |
| Financial charges | 65/66B | €52,423 | €59,283 | +€6,860 | +13.1% |
| Recurring financial charges | 65 | €52,423 | €59,283 | +€6,860 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €2,356,658 | €23,679 | -€2.3m | -99.0% |
| Profit (loss) for the period | 9904 | €2,356,658 | €23,679 | -€2.3m | -99.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,356,658 | €23,679 | -€2.3m | -99.0% |
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 5 October 2026 via checked.be.