FACEVALUE: 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.
FACEVALUE
Largest movements
- Tangible fixed assets -€69,752
down €69,752 (-15.7%), from €444,344 to €374,593
of which Land and buildings: -€69,348
- Current investments -€5,821
no longer reported in 2025 (was €5,821)
- Debts after one year -€122,633
down €122,633 (-33.4%), from €366,948 to €244,316
of which Financial debts: -€125,323
- Profit (loss) carried forward +€31,039
up €31,039, from -€22,610 to €8,429
- Tax, wage and social debts +€21,653
up €21,653 (+528%), from €4,100 to €25,753
- Reserves +€20,000
up €20,000 (+400%), from €5,000 to €25,000
- Current portion of long-term debt -€11,760
down €11,760 (-60.7%), from €19,388 to €7,628
- Financial income -€103,167
down €103,167 (-96.5%), from €106,876 to €3,710
of which Non-recurring financial income: -€92,876
- Gross operating margin +€83,046
up €83,046 (+498%), from €16,666 to €99,712
- Taxes +€17,553
up €17,553 (+428%), from €4,100 to €21,653
- Depreciation -€6,693
down €6,693 (-45.9%), from €14,597 to €7,904
- Financial charges -€5,053
down €5,053 (-26.7%), from €18,929 to €13,876
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 | €575,421 | €505,553 | -€69,868 | -12.1% |
| Fixed assets | 21/28 | €449,924 | €380,173 | -€69,752 | -15.5% |
| Tangible fixed assets | 22/27 | €444,344 | €374,593 | -€69,752 | -15.7% |
| Land and buildings | 22 | €443,940 | €374,593 | -€69,348 | -15.6% |
| Furniture and vehicles | 24 | €404 | - | -€404 | |
| Financial fixed assets | 28 | €5,580 | €5,580 | = | 0.0% |
| Current assets | 29/58 | €125,497 | €125,380 | -€117 | -0.1% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Trade receivables | 290 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €1,640 | +€1,640 | |
| Other amounts receivable | 41 | - | €1,640 | +€1,640 | |
| Current investments | 50/53 | €5,821 | - | -€5,821 | |
| Cash at bank and in hand | 54/58 | €19,676 | €23,740 | +€4,064 | +20.7% |
| Total equity and liabilities | 10/49 | €575,421 | €505,553 | -€69,868 | -12.1% |
| Equity | 10/15 | €173,195 | €224,234 | +€51,039 | +29.5% |
| Contributions | 10/11 | €190,805 | €190,805 | = | 0.0% |
| Reserves | 13 | €5,000 | €25,000 | +€20,000 | +400% |
| Distributable reserves | 133 | €5,000 | €25,000 | +€20,000 | +400% |
| Profit (loss) carried forward | 14 | -€22,610 | €8,429 | +€31,039 | |
| Amounts payable | 17/49 | €402,226 | €281,319 | -€120,907 | -30.1% |
| Amounts payable after more than one year | 17 | €366,948 | €244,316 | -€122,633 | -33.4% |
| Financial debts | 170/4 | €366,948 | €241,626 | -€125,323 | -34.2% |
| Other amounts payable | 178/9 | - | €2,690 | +€2,690 | |
| Amounts payable within one year | 42/48 | €29,941 | €37,003 | +€7,062 | +23.6% |
| Current portion of amounts payable after more than one year | 42 | €19,388 | €7,628 | -€11,760 | -60.7% |
| Trade debts | 44 | €299 | €662 | +€363 | +122% |
| Suppliers | 440/4 | €299 | €662 | +€363 | +122% |
| Taxes, remuneration and social security | 45 | €4,100 | €25,753 | +€21,653 | +528% |
| Taxes | 450/3 | €4,100 | €25,753 | +€21,653 | +528% |
| Other amounts payable | 47/48 | €6,155 | €2,960 | -€3,194 | -51.9% |
| Accrued charges and deferred income | 492/3 | €5,337 | - | -€5,337 | |
| Non-recurring operating income | 76A | - | €116,152 | +€116,152 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,597 | €7,904 | -€6,693 | -45.9% |
| Other operating charges | 640/8 | €4,368 | €8,950 | +€4,582 | +105% |
| Gross operating margin | 9900 | €16,666 | €99,712 | +€83,046 | +498% |
| Operating profit (loss) | 9901 | -€2,299 | €82,858 | +€85,157 | |
| Financial income | 75/76B | €106,876 | €3,710 | -€103,167 | -96.5% |
| Recurring financial income | 75 | €14,000 | €3,710 | -€10,290 | -73.5% |
| Non-recurring financial income | 76B | €92,876 | - | -€92,876 | |
| Financial charges | 65/66B | €18,929 | €13,876 | -€5,053 | -26.7% |
| Recurring financial charges | 65 | €18,929 | €13,876 | -€5,053 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €85,649 | €72,692 | -€12,957 | -15.1% |
| Income taxes | 67/77 | €4,100 | €21,653 | +€17,553 | +428% |
| Profit (loss) for the period | 9904 | €81,549 | €51,039 | -€30,510 | -37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €81,549 | €51,039 | -€30,510 | -37.4% |
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 16 October 2026 via checked.be.