FIRST FLOOR: what changed
Two fiscal 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.
FIRST FLOOR
Largest movements
- Tangible fixed assets -€153,942
down €153,942 (-8.3%), from €1.8m to €1.7m
of which Land and buildings: -€147,616
- Receivables within one year +€55,855
up €55,855 (+10.2%), from €549,957 to €605,813
of which Trade receivables: +€58,961
- Profit (loss) carried forward -€170,650
down €170,650 (-6.5%), from -€2.6m to -€2.8m
- Debts after one year -€143,847
down €143,847 (-10.4%), from €1.4m to €1.2m
- Current portion of long-term debt +€136,615
up €136,615 (+25.7%), from €532,112 to €668,727
- Other debts +€69,561
up €69,561 (+3.9%), from €1.8m to €1.8m
- Gross operating margin -€59,310
down €59,310 (-52.5%), from €113,041 to €53,732
- Financial charges +€6,934
up €6,934 (+12.5%), from €55,381 to €62,315
- Depreciation -€1,972
down €1,972 (-1.3%), from €155,914 to €153,942
- Other operating charges +€1,379
up €1,379 (+20.4%), from €6,746 to €8,125
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 | €2,405,583 | €2,303,710 | -€101,874 | -4.2% |
| Fixed assets | 21/28 | €1,848,954 | €1,695,012 | -€153,942 | -8.3% |
| Tangible fixed assets | 22/27 | €1,848,954 | €1,695,012 | -€153,942 | -8.3% |
| Land and buildings | 22 | €1,779,708 | €1,632,093 | -€147,616 | -8.3% |
| Plant, machinery and equipment | 23 | €56 | €0 | -€56 | -100.0% |
| Furniture and vehicles | 24 | €69,190 | €62,919 | -€6,271 | -9.1% |
| Current assets | 29/58 | €556,629 | €608,698 | +€52,069 | +9.4% |
| Amounts receivable within one year | 40/41 | €549,957 | €605,813 | +€55,855 | +10.2% |
| Trade receivables | 40 | €546,369 | €605,330 | +€58,961 | +10.8% |
| Other amounts receivable | 41 | €3,588 | €483 | -€3,106 | -86.6% |
| Cash at bank and in hand | 54/58 | €6,294 | €2,649 | -€3,644 | -57.9% |
| Deferred charges and accrued income | 490/1 | €378 | €236 | -€142 | -37.7% |
| Total equity and liabilities | 10/49 | €2,405,583 | €2,303,710 | -€101,874 | -4.2% |
| Equity | 10/15 | -€1,505,986 | -€1,676,636 | -€170,650 | -11.3% |
| Contributions | 10/11 | €1,062,965 | €1,062,965 | = | 0.0% |
| Reserves | 13 | €46,452 | €46,452 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,718 | €32,718 | = | 0.0% |
| Distributable reserves | 133 | €13,733 | €13,733 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,615,402 | -€2,786,053 | -€170,650 | -6.5% |
| Amounts payable | 17/49 | €3,911,569 | €3,980,346 | +€68,777 | +1.8% |
| Amounts payable after more than one year | 17 | €1,386,809 | €1,242,963 | -€143,847 | -10.4% |
| Financial debts | 170/4 | €1,386,809 | €1,242,963 | -€143,847 | -10.4% |
| Amounts payable within one year | 42/48 | €2,524,760 | €2,737,383 | +€212,623 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €532,112 | €668,727 | +€136,615 | +25.7% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €13,056 | €19,504 | +€6,447 | +49.4% |
| Suppliers | 440/4 | €13,056 | €19,504 | +€6,447 | +49.4% |
| Other amounts payable | 47/48 | €1,779,592 | €1,849,153 | +€69,561 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €155,914 | €153,942 | -€1,972 | -1.3% |
| Other operating charges | 640/8 | €6,746 | €8,125 | +€1,379 | +20.4% |
| Gross operating margin | 9900 | €113,041 | €53,732 | -€59,310 | -52.5% |
| Operating profit (loss) | 9901 | -€49,619 | -€108,336 | -€58,716 | -118.3% |
| Financial charges | 65/66B | €55,381 | €62,315 | +€6,934 | +12.5% |
| Recurring financial charges | 65 | €55,381 | €62,315 | +€6,934 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | -€105,000 | -€170,650 | -€65,650 | -62.5% |
| Profit (loss) for the period | 9904 | -€105,000 | -€170,650 | -€65,650 | -62.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€105,000 | -€170,650 | -€65,650 | -62.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.