FIELD & CONCEPT: 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.
FIELD & CONCEPT
Largest movements
- Cash -€490,597
down €490,597 (-60.1%), from €816,581 to €325,984
mainly Contributions, distributions and other (-€500,000) and Investment in fixed assets (net) (-€170,456)
- Tangible fixed assets +€138,599
up €138,599 (+75.4%), from €183,916 to €322,515
of which Assets under construction and advance payments: +€170,456
- Deferred charges and accrued income +€55,035
up €55,035 (+179.3%), from €30,702 to €85,737
- Receivables within one year +€46,978
up €46,978 (+2.5%), from €1.9m to €2.0m
of which Trade receivables: +€39,381
- Profit (loss) carried forward -€341,428
down €341,428 (-23.3%), from €1.5m to €1.1m
- Accrued charges and deferred income -€148,414
down €148,414 (-98.9%), from €150,000 to €1,586
- Debts after one year +€137,019
new in 2025: €137,019
- Current portion of long-term debt +€66,333
new in 2025: €66,333
- Other debts +€60,517
up €60,517 (+77.6%), from €78,026 to €138,543
- Staff costs -€419,374
down €419,374 (-10.9%), from €3.9m to €3.4m
- Gross operating margin -€394,119
down €394,119 (-9.4%), from €4.2m to €3.8m
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 | €2,944,973 | €2,694,987 | -€249,986 | -8.5% |
| Fixed assets | 21/28 | €183,916 | €322,515 | +€138,599 | +75.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €183,916 | €322,515 | +€138,599 | +75.4% |
| Plant, machinery and equipment | 23 | €16,979 | €9,337 | -€7,642 | -45.0% |
| Furniture and vehicles | 24 | €30,486 | €19,957 | -€10,529 | -34.5% |
| Other tangible fixed assets | 26 | €97,080 | €83,394 | -€13,686 | -14.1% |
| Assets under construction and advance payments | 27 | €39,372 | €209,827 | +€170,456 | +432.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €2,761,057 | €2,372,473 | -€388,584 | -14.1% |
| Amounts receivable within one year | 40/41 | €1,913,774 | €1,960,752 | +€46,978 | +2.5% |
| Trade receivables | 40 | €1,913,774 | €1,953,155 | +€39,381 | +2.1% |
| Other amounts receivable | 41 | €0 | €7,597 | +€7,597 | |
| Cash at bank and in hand | 54/58 | €816,581 | €325,984 | -€490,597 | -60.1% |
| Deferred charges and accrued income | 490/1 | €30,702 | €85,737 | +€55,035 | +179.3% |
| Total equity and liabilities | 10/49 | €2,944,973 | €2,694,987 | -€249,986 | -8.5% |
| Equity | 10/15 | €1,645,625 | €1,304,197 | -€341,428 | -20.7% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Capital | 10 | €162,000 | €162,000 | = | 0.0% |
| Issued capital | 100 | €162,000 | €162,000 | = | 0.0% |
| Reserves | 13 | €16,200 | €16,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,200 | €16,200 | = | 0.0% |
| Legal reserve | 130 | €16,200 | €16,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,467,425 | €1,125,997 | -€341,428 | -23.3% |
| Amounts payable | 17/49 | €1,299,348 | €1,390,791 | +€91,442 | +7.0% |
| Amounts payable after more than one year | 17 | - | €137,019 | +€137,019 | |
| Financial debts | 170/4 | - | €137,019 | +€137,019 | |
| Amounts payable within one year | 42/48 | €1,149,348 | €1,252,185 | +€102,837 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | - | €66,333 | +€66,333 | |
| Financial debts | 43 | €74,217 | €63,086 | -€11,131 | -15.0% |
| Credit institutions | 430/8 | €74,217 | €63,086 | -€11,131 | -15.0% |
| Trade debts | 44 | €508,819 | €547,269 | +€38,451 | +7.6% |
| Suppliers | 440/4 | €508,819 | €547,269 | +€38,451 | +7.6% |
| Advances received on contracts in progress | 46 | €25,131 | €30,316 | +€5,184 | +20.6% |
| Taxes, remuneration and social security | 45 | €463,156 | €406,639 | -€56,517 | -12.2% |
| Taxes | 450/3 | €70,414 | €86,416 | +€16,002 | +22.7% |
| Remuneration and social security | 454/9 | €392,742 | €320,223 | -€72,519 | -18.5% |
| Other amounts payable | 47/48 | €78,026 | €138,543 | +€60,517 | +77.6% |
| Accrued charges and deferred income | 492/3 | €150,000 | €1,586 | -€148,414 | -98.9% |
| Remuneration, social security and pensions | 62 | €3,858,414 | €3,439,040 | -€419,374 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,262 | €31,857 | -€1,405 | -4.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€53,064 | -€15,463 | +€37,601 | +70.9% |
| Other operating charges | 640/8 | €60,484 | €21,948 | -€38,536 | -63.7% |
| Gross operating margin | 9900 | €4,183,318 | €3,789,198 | -€394,119 | -9.4% |
| Operating profit (loss) | 9901 | €284,222 | €311,816 | +€27,595 | +9.7% |
| Financial income | 75/76B | €181 | €68 | -€113 | -62.2% |
| Recurring financial income | 75 | €181 | €68 | -€113 | -62.2% |
| Financial charges | 65/66B | €9,996 | €16,059 | +€6,064 | +60.7% |
| Recurring financial charges | 65 | €9,996 | €16,059 | +€6,064 | +60.7% |
| Profit (loss) for the period before taxes | 9903 | €274,407 | €295,825 | +€21,418 | +7.8% |
| Income taxes | 67/77 | €130,495 | €137,253 | +€6,758 | +5.2% |
| Profit (loss) for the period | 9904 | €143,912 | €158,572 | +€14,660 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €143,912 | €158,572 | +€14,660 | +10.2% |
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 10 October 2026 via checked.be.