FUNCTIONAL FEET: 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.
FUNCTIONAL FEET
Largest movements
- Intangible fixed assets +€20,520
new in 2025: €20,520
- Tangible fixed assets -€16,066
down €16,066 (-1.5%), from €1.0m to €1.0m
of which Land and buildings: -€17,234
- Debts after one year -€79,868
down €79,868 (-9.0%), from €883,780 to €803,912
- Reserves +€32,860
up €32,860 (+10.7%), from €308,293 to €341,153
- Trade debts +€28,624
up €28,624 (+134%), from €21,372 to €49,996
- Depreciation -€23,908
down €23,908 (-24.1%), from €99,304 to €75,396
- Taxes +€7,107
up €7,107 (+110%), from €6,475 to €13,582
- Financial charges +€6,151
up €6,151 (+20.0%), from €30,732 to €36,883
- Staff costs -€6,015
down €6,015 (-6.9%), from €86,708 to €80,692
- Other operating charges +€4,073
up €4,073 (+18.9%), from €21,574 to €25,647
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 | €1,304,671 | €1,302,423 | -€2,247 | -0.2% |
| Fixed assets | 21/28 | €1,044,780 | €1,049,235 | +€4,455 | +0.4% |
| Intangible fixed assets | 21 | - | €20,520 | +€20,520 | |
| Tangible fixed assets | 22/27 | €1,044,405 | €1,028,340 | -€16,066 | -1.5% |
| Land and buildings | 22 | €963,406 | €946,173 | -€17,234 | -1.8% |
| Plant, machinery and equipment | 23 | €20,976 | €38,523 | +€17,548 | +83.7% |
| Furniture and vehicles | 24 | €59,826 | €43,541 | -€16,285 | -27.2% |
| Other tangible fixed assets | 26 | €198 | €104 | -€94 | -47.7% |
| Financial fixed assets | 28 | €375 | €375 | = | 0.0% |
| Current assets | 29/58 | €259,890 | €253,188 | -€6,702 | -2.6% |
| Amounts receivable within one year | 40/41 | €4,105 | €7,514 | +€3,409 | +83.0% |
| Trade receivables | 40 | €205 | €3,614 | +€3,409 | +1,663% |
| Other amounts receivable | 41 | €3,900 | €3,900 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €255,785 | €245,674 | -€10,111 | -4.0% |
| Total equity and liabilities | 10/49 | €1,304,671 | €1,302,423 | -€2,247 | -0.2% |
| Equity | 10/15 | €314,493 | €347,353 | +€32,860 | +10.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €308,293 | €341,153 | +€32,860 | +10.7% |
| Distributable reserves | 133 | €308,293 | €341,153 | +€32,860 | +10.7% |
| Amounts payable | 17/49 | €990,178 | €955,071 | -€35,107 | -3.5% |
| Amounts payable after more than one year | 17 | €883,780 | €803,912 | -€79,868 | -9.0% |
| Financial debts | 170/4 | €883,780 | €803,912 | -€79,868 | -9.0% |
| Amounts payable within one year | 42/48 | €100,530 | €148,937 | +€48,407 | +48.2% |
| Current portion of amounts payable after more than one year | 42 | €56,904 | €68,600 | +€11,695 | +20.6% |
| Trade debts | 44 | €21,372 | €49,996 | +€28,624 | +134% |
| Suppliers | 440/4 | €21,372 | €49,996 | +€28,624 | +134% |
| Taxes, remuneration and social security | 45 | €17,442 | €22,160 | +€4,719 | +27.1% |
| Taxes | 450/3 | - | €3,391 | +€3,391 | |
| Remuneration and social security | 454/9 | €17,442 | €18,770 | +€1,328 | +7.6% |
| Other amounts payable | 47/48 | €4,812 | €8,181 | +€3,370 | +70.0% |
| Accrued charges and deferred income | 492/3 | €5,867 | €2,221 | -€3,646 | -62.1% |
| Non-recurring operating income | 76A | €5,310 | €0 | -€5,310 | -100% |
| Remuneration, social security and pensions | 62 | €86,708 | €80,692 | -€6,015 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,304 | €75,396 | -€23,908 | -24.1% |
| Other operating charges | 640/8 | €21,574 | €25,647 | +€4,073 | +18.9% |
| Gross operating margin | 9900 | €262,118 | €263,767 | +€1,649 | +0.6% |
| Operating profit (loss) | 9901 | €54,532 | €82,032 | +€27,500 | +50.4% |
| Financial income | 75/76B | €1,277 | €1,293 | +€17 | +1.3% |
| Recurring financial income | 75 | €1,277 | €1,293 | +€17 | +1.3% |
| Financial charges | 65/66B | €30,732 | €36,883 | +€6,151 | +20.0% |
| Recurring financial charges | 65 | €30,732 | €36,883 | +€6,151 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €25,076 | €46,442 | +€21,366 | +85.2% |
| Income taxes | 67/77 | €6,475 | €13,582 | +€7,107 | +110% |
| Profit (loss) for the period | 9904 | €18,601 | €32,860 | +€14,259 | +76.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,601 | €32,860 | +€14,259 | +76.7% |
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 16 October 2026 via checked.be.