FACE to FACE: 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.
FACE to FACE
Largest movements
- Cash +€400,681
up €400,681 (+154%), from €259,927 to €660,608
mainly Net result for the year (+€270,844) and Tax, wage and social debts (+€110,203)
- Tangible fixed assets -€73,201
down €73,201 (-23.9%), from €305,956 to €232,755
of which Leasing and similar rights: -€37,558
- Reserves +€250,000
up €250,000 (+57.9%), from €431,860 to €681,860
of which Distributable reserves: +€251,860
- Tax, wage and social debts +€110,203
up €110,203 (+64.8%), from €170,056 to €280,259
- Debts after one year -€51,024
no longer reported in 2025 (was €51,024)
- Profit (loss) carried forward +€20,844
up €20,844 (+15.3%), from €135,859 to €156,703
- Other debts +€13,625
up €13,625 (+63.1%), from €21,580 to €35,205
- Depreciation -€20,603
down €20,603 (-34.7%), from €59,309 to €38,706
- Other operating charges +€15,273
up €15,273 (+120%), from €12,765 to €28,037
- Taxes -€6,959
down €6,959 (-5.1%), from €137,609 to €130,650
- Financial charges +€5,494
up €5,494 (+154%), from €3,557 to €9,051
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 | €839,687 | €1,171,849 | +€332,163 | +39.6% |
| Fixed assets | 21/28 | €305,956 | €232,755 | -€73,201 | -23.9% |
| Tangible fixed assets | 22/27 | €305,956 | €232,755 | -€73,201 | -23.9% |
| Plant, machinery and equipment | 23 | €254,307 | €218,209 | -€36,098 | -14.2% |
| Furniture and vehicles | 24 | €14,090 | €14,546 | +€455 | +3.2% |
| Leasing and similar rights | 25 | €37,558 | - | -€37,558 | |
| Current assets | 29/58 | €533,731 | €939,095 | +€405,364 | +75.9% |
| Cash at bank and in hand | 54/58 | €259,927 | €660,608 | +€400,681 | +154% |
| Deferred charges and accrued income | 490/1 | €273,804 | €278,487 | +€4,683 | +1.7% |
| Total equity and liabilities | 10/49 | €839,687 | €1,171,849 | +€332,163 | +39.6% |
| Equity | 10/15 | €573,919 | €844,763 | +€270,844 | +47.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €431,860 | €681,860 | +€250,000 | +57.9% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €430,000 | €681,860 | +€251,860 | +58.6% |
| Profit (loss) carried forward | 14 | €135,859 | €156,703 | +€20,844 | +15.3% |
| Amounts payable | 17/49 | €265,768 | €327,087 | +€61,319 | +23.1% |
| Amounts payable after more than one year | 17 | €51,024 | - | -€51,024 | |
| Financial debts | 170/4 | €51,024 | - | -€51,024 | |
| Amounts payable within one year | 42/48 | €210,744 | €326,637 | +€115,892 | +55.0% |
| Current portion of amounts payable after more than one year | 42 | €11,790 | €3,961 | -€7,830 | -66.4% |
| Trade debts | 44 | €7,317 | €7,212 | -€106 | -1.4% |
| Suppliers | 440/4 | €7,317 | €7,212 | -€106 | -1.4% |
| Taxes, remuneration and social security | 45 | €170,056 | €280,259 | +€110,203 | +64.8% |
| Taxes | 450/3 | €170,056 | €280,259 | +€110,203 | +64.8% |
| Other amounts payable | 47/48 | €21,580 | €35,205 | +€13,625 | +63.1% |
| Accrued charges and deferred income | 492/3 | €4,000 | €450 | -€3,550 | -88.8% |
| Non-recurring operating income | 76A | - | €11,851 | +€11,851 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,309 | €38,706 | -€20,603 | -34.7% |
| Other operating charges | 640/8 | €12,765 | €28,037 | +€15,273 | +120% |
| Gross operating margin | 9900 | €480,620 | €477,288 | -€3,331 | -0.7% |
| Operating profit (loss) | 9901 | €408,546 | €410,545 | +€1,999 | +0.5% |
| Financial charges | 65/66B | €3,557 | €9,051 | +€5,494 | +154% |
| Recurring financial charges | 65 | €3,557 | €9,051 | +€5,494 | +154% |
| Profit (loss) for the period before taxes | 9903 | €404,989 | €401,494 | -€3,496 | -0.9% |
| Income taxes | 67/77 | €137,609 | €130,650 | -€6,959 | -5.1% |
| Profit (loss) for the period | 9904 | €267,380 | €270,844 | +€3,464 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €267,380 | €270,844 | +€3,464 | +1.3% |
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 15 October 2026 via checked.be.