EXCHANGE: 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.
EXCHANGE
Largest movements
- Tangible fixed assets +€225,329
up €225,329 (+25.9%), from €868,638 to €1.1m
of which Plant, machinery and equipment: +€246,308
- Cash +€38,319
up €38,319 (+51.5%), from €74,350 to €112,668
mainly Other debts (+€300,000) and Depreciation (+€45,879)
- Other debts +€300,000
up €300,000 (+32.8%), from €914,750 to €1.2m
- Profit (loss) carried forward -€40,930
down €40,930 (-93.9%), from -€43,566 to -€84,497
- Depreciation +€9,084
up €9,084 (+24.7%), from €36,795 to €45,879
- Gross operating margin +€8,585
up €8,585 (+251.8%), from €3,410 to €11,995
- Other operating charges +€211
up €211 (+3.1%), from €6,714 to €6,925
- Financial income -€156
no longer reported in 2025 (was €156)
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 | €943,017 | €1,206,636 | +€263,619 | +28.0% |
| Fixed assets | 21/28 | €868,638 | €1,093,967 | +€225,329 | +25.9% |
| Tangible fixed assets | 22/27 | €868,638 | €1,093,967 | +€225,329 | +25.9% |
| Land and buildings | 22 | €425,894 | €404,915 | -€20,979 | -4.9% |
| Plant, machinery and equipment | 23 | €442,744 | €689,053 | +€246,308 | +55.6% |
| Current assets | 29/58 | €74,379 | €112,668 | +€38,290 | +51.5% |
| Cash at bank and in hand | 54/58 | €74,350 | €112,668 | +€38,319 | +51.5% |
| Deferred charges and accrued income | 490/1 | €29 | - | -€29 | |
| Total equity and liabilities | 10/49 | €943,017 | €1,206,636 | +€263,619 | +28.0% |
| Equity | 10/15 | €24,634 | -€16,297 | -€40,930 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,566 | -€84,497 | -€40,930 | -93.9% |
| Amounts payable | 17/49 | €918,383 | €1,222,932 | +€304,549 | +33.2% |
| Amounts payable within one year | 42/48 | €918,383 | €1,222,932 | +€304,549 | +33.2% |
| Trade debts | 44 | €3,633 | €8,182 | +€4,549 | +125.2% |
| Suppliers | 440/4 | €3,633 | €8,182 | +€4,549 | +125.2% |
| Other amounts payable | 47/48 | €914,750 | €1,214,750 | +€300,000 | +32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,795 | €45,879 | +€9,084 | +24.7% |
| Other operating charges | 640/8 | €6,714 | €6,925 | +€211 | +3.1% |
| Gross operating margin | 9900 | €3,410 | €11,995 | +€8,585 | +251.8% |
| Operating profit (loss) | 9901 | -€40,100 | -€40,810 | -€710 | -1.8% |
| Financial income | 75/76B | €156 | - | -€156 | |
| Recurring financial income | 75 | €156 | - | -€156 | |
| Financial charges | 65/66B | €124 | €121 | -€3 | -2.5% |
| Recurring financial charges | 65 | €124 | €121 | -€3 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | -€40,068 | -€40,930 | -€863 | -2.2% |
| Profit (loss) for the period | 9904 | -€40,068 | -€40,930 | -€863 | -2.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,068 | -€40,930 | -€863 | -2.2% |
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 30 September 2026 via checked.be.