FACTUM: 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.
FACTUM
Largest movements
- Cash -€442,882
down €442,882 (-17.8%), from €2.5m to €2.0m
mainly Receivables after one year (-€352,500) and Net result for the year (-€228,444)
- Receivables after one year +€352,500
up €352,500 (+23.9%), from €1.5m to €1.8m
- Receivables within one year -€86,967
down €86,967 (-55.3%), from €157,151 to €70,184
of which Other amounts receivable: -€104,451
- Reserves -€228,444
down €228,444 (-3.0%), from €7.6m to €7.3m
of which Distributable reserves: -€228,444
- Financial income -€18,169
down €18,169 (-37.1%), from €48,998 to €30,829
- Taxes -€14,360
down €14,360 (-39.9%), from €35,965 to €21,605
- Depreciation +€10,204
up €10,204 (+7.5%), from €136,760 to €146,965
- Gross operating margin -€10,084
down €10,084 (-5.7%), from €177,420 to €167,336
- Other operating charges +€7,260
up €7,260 (+7.2%), from €101,328 to €108,588
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 | €7,789,714 | €7,537,679 | -€252,035 | -3.2% |
| Fixed assets | 21/28 | €3,626,105 | €3,589,248 | -€36,857 | -1.0% |
| Tangible fixed assets | 22/27 | €3,615,805 | €3,578,948 | -€36,857 | -1.0% |
| Land and buildings | 22 | €3,400,773 | €3,305,014 | -€95,758 | -2.8% |
| Plant, machinery and equipment | 23 | €113,804 | €183,968 | +€70,164 | +61.7% |
| Furniture and vehicles | 24 | €101,228 | €89,965 | -€11,263 | -11.1% |
| Financial fixed assets | 28 | €10,300 | €10,300 | = | 0.0% |
| Current assets | 29/58 | €4,163,609 | €3,948,432 | -€215,177 | -5.2% |
| Amounts receivable after more than one year | 29 | €1,474,500 | €1,827,000 | +€352,500 | +23.9% |
| Other amounts receivable | 291 | €1,474,500 | €1,827,000 | +€352,500 | +23.9% |
| Stocks and contracts in progress | 3 | €6,532 | €1,026 | -€5,506 | -84.3% |
| Stocks | 30/36 | €6,532 | €1,026 | -€5,506 | -84.3% |
| Amounts receivable within one year | 40/41 | €157,151 | €70,184 | -€86,967 | -55.3% |
| Trade receivables | 40 | €36,023 | €53,507 | +€17,484 | +48.5% |
| Other amounts receivable | 41 | €121,128 | €16,677 | -€104,451 | -86.2% |
| Cash at bank and in hand | 54/58 | €2,483,931 | €2,041,049 | -€442,882 | -17.8% |
| Deferred charges and accrued income | 490/1 | €41,495 | €9,173 | -€32,322 | -77.9% |
| Total equity and liabilities | 10/49 | €7,789,714 | €7,537,679 | -€252,035 | -3.2% |
| Equity | 10/15 | €7,644,947 | €7,416,503 | -€228,444 | -3.0% |
| Contributions | 10/11 | €71,515 | €71,515 | = | 0.0% |
| Capital | 10 | €71,515 | €71,515 | = | 0.0% |
| Issued capital | 100 | €71,515 | €71,515 | = | 0.0% |
| Reserves | 13 | €7,573,431 | €7,344,987 | -€228,444 | -3.0% |
| Non-distributable reserves | 130/1 | €7,142 | €7,142 | = | 0.0% |
| Legal reserve | 130 | €7,142 | €7,142 | = | 0.0% |
| Distributable reserves | 133 | €7,566,289 | €7,337,845 | -€228,444 | -3.0% |
| Amounts payable | 17/49 | €144,768 | €121,176 | -€23,591 | -16.3% |
| Amounts payable after more than one year | 17 | €48,881 | €48,881 | = | 0.0% |
| Financial debts | 170/4 | €48,881 | €48,881 | = | 0.0% |
| Amounts payable within one year | 42/48 | €89,111 | €67,139 | -€21,972 | -24.7% |
| Financial debts | 43 | €34,397 | €15,330 | -€19,067 | -55.4% |
| Credit institutions | 430/8 | €34,397 | €15,330 | -€19,067 | -55.4% |
| Trade debts | 44 | €36,498 | €33,152 | -€3,346 | -9.2% |
| Suppliers | 440/4 | €36,498 | €33,152 | -€3,346 | -9.2% |
| Taxes, remuneration and social security | 45 | €18,217 | €18,658 | +€441 | +2.4% |
| Taxes | 450/3 | €1,060 | €886 | -€174 | -16.4% |
| Remuneration and social security | 454/9 | €17,157 | €17,772 | +€615 | +3.6% |
| Accrued charges and deferred income | 492/3 | €6,775 | €5,156 | -€1,619 | -23.9% |
| Remuneration, social security and pensions | 62 | €141,633 | €148,381 | +€6,748 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,760 | €146,965 | +€10,204 | +7.5% |
| Other operating charges | 640/8 | €101,328 | €108,588 | +€7,260 | +7.2% |
| Gross operating margin | 9900 | €177,420 | €167,336 | -€10,084 | -5.7% |
| Operating profit (loss) | 9901 | -€202,301 | -€236,598 | -€34,297 | -17.0% |
| Financial income | 75/76B | €48,998 | €30,829 | -€18,169 | -37.1% |
| Recurring financial income | 75 | €48,998 | €30,829 | -€18,169 | -37.1% |
| Financial charges | 65/66B | €1,175 | €1,070 | -€105 | -8.9% |
| Recurring financial charges | 65 | €1,175 | €1,070 | -€105 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | -€154,478 | -€206,839 | -€52,361 | -33.9% |
| Income taxes | 67/77 | €35,965 | €21,605 | -€14,360 | -39.9% |
| Profit (loss) for the period | 9904 | -€190,443 | -€228,444 | -€38,001 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€190,443 | -€228,444 | -€38,001 | -20.0% |
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 14 October 2026 via checked.be.