FULLBOX: 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.
FULLBOX
Largest movements
- Tangible fixed assets +€247,551
up €247,551 (+14.0%), from €1.8m to €2.0m
of which Land and buildings: +€217,957
- Cash -€82,192
down €82,192 (-58.5%), from €140,511 to €58,318
mainly Investment in fixed assets (net) (-€371,002) and Net result for the year (-€112,369)
- Debts after one year +€132,238
up €132,238 (+27.6%), from €479,903 to €612,141
- Profit (loss) carried forward -€112,369
down €112,369 (-54.6%), from -€205,743 to -€318,112
- Other debts +€51,084
up €51,084 (+5.4%), from €945,183 to €996,267
- Trade debts +€46,135
up €46,135 (+88.0%), from €52,424 to €98,559
- Current portion of long-term debt +€27,398
up €27,398 (+147.6%), from €18,559 to €45,956
- Gross operating margin +€239,742
up €239,742, from -€20,794 to €218,948
- Staff costs +€106,203
up €106,203 (+646.3%), from €16,434 to €122,637
- Depreciation +€65,523
up €65,523 (+113.1%), from €57,928 to €123,451
- Financial charges +€38,764
up €38,764 (+89.0%), from €43,554 to €82,318
- Other operating charges +€2,807
up €2,807 (+202.3%), from €1,388 to €4,194
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 | €1,991,937 | €2,156,474 | +€164,538 | +8.3% |
| Fixed assets | 21/28 | €1,765,078 | €2,012,629 | +€247,551 | +14.0% |
| Tangible fixed assets | 22/27 | €1,765,078 | €2,012,629 | +€247,551 | +14.0% |
| Land and buildings | 22 | €1,506,292 | €1,724,249 | +€217,957 | +14.5% |
| Plant, machinery and equipment | 23 | €197,191 | €214,913 | +€17,722 | +9.0% |
| Furniture and vehicles | 24 | €61,595 | €73,467 | +€11,872 | +19.3% |
| Current assets | 29/58 | €226,858 | €143,845 | -€83,013 | -36.6% |
| Stocks and contracts in progress | 3 | €41,135 | €57,009 | +€15,874 | +38.6% |
| Stocks | 30/36 | €41,135 | €57,009 | +€15,874 | +38.6% |
| Amounts receivable within one year | 40/41 | €39,934 | €20,968 | -€18,966 | -47.5% |
| Trade receivables | 40 | €2,719 | €20,968 | +€18,249 | +671.1% |
| Other amounts receivable | 41 | €37,215 | €0 | -€37,215 | -100.0% |
| Cash at bank and in hand | 54/58 | €140,511 | €58,318 | -€82,192 | -58.5% |
| Deferred charges and accrued income | 490/1 | €5,278 | €7,550 | +€2,272 | +43.0% |
| Total equity and liabilities | 10/49 | €1,991,937 | €2,156,474 | +€164,538 | +8.3% |
| Equity | 10/15 | €444,257 | €331,888 | -€112,369 | -25.3% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€205,743 | -€318,112 | -€112,369 | -54.6% |
| Amounts payable | 17/49 | €1,547,680 | €1,824,587 | +€276,907 | +17.9% |
| Amounts payable after more than one year | 17 | €479,903 | €612,141 | +€132,238 | +27.6% |
| Financial debts | 170/4 | €479,903 | €612,141 | +€132,238 | +27.6% |
| Amounts payable within one year | 42/48 | €1,021,945 | €1,159,529 | +€137,584 | +13.5% |
| Current portion of amounts payable after more than one year | 42 | €18,559 | €45,956 | +€27,398 | +147.6% |
| Trade debts | 44 | €52,424 | €98,559 | +€46,135 | +88.0% |
| Suppliers | 440/4 | €52,424 | €98,559 | +€46,135 | +88.0% |
| Taxes, remuneration and social security | 45 | €5,779 | €18,747 | +€12,967 | +224.4% |
| Taxes | 450/3 | €690 | €1,680 | +€990 | +143.6% |
| Remuneration and social security | 454/9 | €5,090 | €17,067 | +€11,977 | +235.3% |
| Other amounts payable | 47/48 | €945,183 | €996,267 | +€51,084 | +5.4% |
| Accrued charges and deferred income | 492/3 | €45,832 | €52,917 | +€7,085 | +15.5% |
| Non-recurring operating income | 76A | €414 | €0 | -€414 | -100.0% |
| Remuneration, social security and pensions | 62 | €16,434 | €122,637 | +€106,203 | +646.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,928 | €123,451 | +€65,523 | +113.1% |
| Other operating charges | 640/8 | €1,388 | €4,194 | +€2,807 | +202.3% |
| Gross operating margin | 9900 | -€20,794 | €218,948 | +€239,742 | |
| Operating profit (loss) | 9901 | -€96,543 | -€31,335 | +€65,208 | +67.5% |
| Financial income | 75/76B | €133 | €1,667 | +€1,535 | +1158.2% |
| Recurring financial income | 75 | €133 | €1,667 | +€1,535 | +1158.2% |
| Financial charges | 65/66B | €43,554 | €82,318 | +€38,764 | +89.0% |
| Recurring financial charges | 65 | €43,554 | €82,318 | +€38,764 | +89.0% |
| Profit (loss) for the period before taxes | 9903 | -€139,965 | -€111,986 | +€27,979 | +20.0% |
| Income taxes | 67/77 | €300 | €384 | +€84 | +28.0% |
| Profit (loss) for the period | 9904 | -€140,265 | -€112,369 | +€27,895 | +19.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€140,265 | -€112,369 | +€27,895 | +19.9% |
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 8 October 2026 via checked.be.