FIFTY WAYS: 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.
FIFTY WAYS
Largest movements
- Tangible fixed assets -€23,392
down €23,392 (-15.2%), from €154,033 to €130,641
- Receivables within one year +€2,075
up €2,075 (+31.0%), from €6,695 to €8,770
of which Other amounts receivable: +€2,770
- Debts after one year -€16,160
down €16,160 (-9.2%), from €176,584 to €160,424
of which Financial debts: -€17,760
- Other debts -€5,788
down €5,788 (-7.2%), from €80,165 to €74,378
- Trade debts +€4,178
up €4,178 (+1078.6%), from €387 to €4,565
- Profit (loss) carried forward -€3,927
down €3,927 (-3.2%), from -€121,567 to -€125,494
- Other operating charges +€4,643
up €4,643 (+1198.7%), from €387 to €5,031
- Financial charges +€4,266
up €4,266 (+133.3%), from €3,200 to €7,467
- Gross operating margin +€1,914
up €1,914 (+6.5%), from €29,618 to €31,532
- Financial income +€430
up €430, from €0 to €430
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 | €161,006 | €139,570 | -€21,436 | -13.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €154,033 | €130,641 | -€23,392 | -15.2% |
| Tangible fixed assets | 22/27 | €154,033 | €130,641 | -€23,392 | -15.2% |
| Land and buildings | 22 | €154,033 | €130,641 | -€23,392 | -15.2% |
| Current assets | 29/58 | €6,973 | €8,929 | +€1,955 | +28.0% |
| Amounts receivable within one year | 40/41 | €6,695 | €8,770 | +€2,075 | +31.0% |
| Trade receivables | 40 | €695 | - | -€695 | |
| Other amounts receivable | 41 | €6,000 | €8,770 | +€2,770 | +46.2% |
| Cash at bank and in hand | 54/58 | €135 | €12 | -€123 | -91.2% |
| Deferred charges and accrued income | 490/1 | €143 | €146 | +€3 | +2.3% |
| Total equity and liabilities | 10/49 | €161,006 | €139,570 | -€21,436 | -13.3% |
| Equity | 10/15 | -€115,320 | -€119,247 | -€3,927 | -3.4% |
| Contributions | 10/11 | €6,247 | €6,247 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€121,567 | -€125,494 | -€3,927 | -3.2% |
| Amounts payable | 17/49 | €276,326 | €258,816 | -€17,510 | -6.3% |
| Amounts payable after more than one year | 17 | €176,584 | €160,424 | -€16,160 | -9.2% |
| Financial debts | 170/4 | €174,356 | €156,596 | -€17,760 | -10.2% |
| Other amounts payable | 178/9 | €2,229 | €3,829 | +€1,600 | +71.8% |
| Amounts payable within one year | 42/48 | €99,742 | €98,392 | -€1,350 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €19,189 | €19,449 | +€260 | +1.4% |
| Trade debts | 44 | €387 | €4,565 | +€4,178 | +1078.6% |
| Suppliers | 440/4 | €387 | €4,565 | +€4,178 | +1078.6% |
| Other amounts payable | 47/48 | €80,165 | €74,378 | -€5,788 | -7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,392 | €23,392 | +€0 | 0.0% |
| Other operating charges | 640/8 | €387 | €5,031 | +€4,643 | +1198.7% |
| Gross operating margin | 9900 | €29,618 | €31,532 | +€1,914 | +6.5% |
| Operating profit (loss) | 9901 | €5,839 | €3,110 | -€2,729 | -46.7% |
| Financial income | 75/76B | €0 | €430 | +€430 | |
| Recurring financial income | 75 | €0 | €430 | +€430 | |
| Financial charges | 65/66B | €3,200 | €7,467 | +€4,266 | +133.3% |
| Recurring financial charges | 65 | €3,200 | €7,467 | +€4,266 | +133.3% |
| Profit (loss) for the period before taxes | 9903 | €2,639 | -€3,927 | -€6,566 | |
| Profit (loss) for the period | 9904 | €2,639 | -€3,927 | -€6,566 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,639 | -€3,927 | -€6,566 |
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 12 October 2026 via checked.be.