G. SCHEIFF: 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.
G. SCHEIFF
Largest movements
- Tangible fixed assets -€10,420
down €10,420 (-7.8%), from €133,014 to €122,593
of which Land and buildings: -€9,378
- Deferred charges and accrued income -€6,312
down €6,312 (-86.2%), from €7,324 to €1,011
- Cash -€2,421
down €2,421 (-37.9%), from €6,389 to €3,967
mainly Net result for the year (-€14,553) and Trade debts (-€8,402)
- Receivables within one year -€2,111
down €2,111 (-32.1%), from €6,582 to €4,471
of which Trade receivables: -€2,864
- Profit (loss) carried forward -€14,553
down €14,553 (-1165.4%), from -€1,249 to -€15,802
- Trade debts -€8,402
down €8,402 (-32.7%), from €25,669 to €17,268
- Accrued charges and deferred income +€3,358
up €3,358 (+296.7%), from €1,132 to €4,490
- Tax, wage and social debts -€2,368
down €2,368 (-36.9%), from €6,412 to €4,044
- Gross operating margin -€6,400
down €6,400 (-34.7%), from €18,445 to €12,045
- Financial charges +€1,503
up €1,503 (+20.4%), from €7,354 to €8,856
- Taxes -€194
no longer reported in 2025 (was €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 | €156,723 | €134,759 | -€21,965 | -14.0% |
| Fixed assets | 21/28 | €135,729 | €125,309 | -€10,420 | -7.7% |
| Tangible fixed assets | 22/27 | €133,014 | €122,593 | -€10,420 | -7.8% |
| Land and buildings | 22 | €125,501 | €116,122 | -€9,378 | -7.5% |
| Plant, machinery and equipment | 23 | €7,513 | €6,471 | -€1,042 | -13.9% |
| Financial fixed assets | 28 | €2,716 | €2,716 | = | 0.0% |
| Current assets | 29/58 | €20,994 | €9,449 | -€11,545 | -55.0% |
| Stocks and contracts in progress | 3 | €700 | - | -€700 | |
| Stocks | 30/36 | €700 | - | -€700 | |
| Amounts receivable within one year | 40/41 | €6,582 | €4,471 | -€2,111 | -32.1% |
| Trade receivables | 40 | €5,794 | €2,930 | -€2,864 | -49.4% |
| Other amounts receivable | 41 | €788 | €1,541 | +€753 | +95.6% |
| Cash at bank and in hand | 54/58 | €6,389 | €3,967 | -€2,421 | -37.9% |
| Deferred charges and accrued income | 490/1 | €7,324 | €1,011 | -€6,312 | -86.2% |
| Total equity and liabilities | 10/49 | €156,723 | €134,759 | -€21,965 | -14.0% |
| Equity | 10/15 | €19,202 | €4,649 | -€14,553 | -75.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,249 | -€15,802 | -€14,553 | -1165.4% |
| Amounts payable | 17/49 | €137,521 | €130,109 | -€7,412 | -5.4% |
| Amounts payable after more than one year | 17 | €20,532 | €20,532 | = | 0.0% |
| Other amounts payable | 178/9 | €20,532 | €20,532 | = | 0.0% |
| Amounts payable within one year | 42/48 | €115,857 | €105,088 | -€10,770 | -9.3% |
| Financial debts | 43 | €46,500 | €46,500 | = | 0.0% |
| Credit institutions | 430/8 | €46,500 | €46,500 | = | 0.0% |
| Trade debts | 44 | €25,669 | €17,268 | -€8,402 | -32.7% |
| Suppliers | 440/4 | €25,669 | €17,268 | -€8,402 | -32.7% |
| Taxes, remuneration and social security | 45 | €6,412 | €4,044 | -€2,368 | -36.9% |
| Taxes | 450/3 | €6,412 | €4,044 | -€2,368 | -36.9% |
| Other amounts payable | 47/48 | €37,276 | €37,276 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,132 | €4,490 | +€3,358 | +296.7% |
| Non-recurring operating income | 76A | €2,333 | €413 | -€1,920 | -82.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,385 | €10,420 | +€35 | +0.3% |
| Other operating charges | 640/8 | €5,135 | €5,006 | -€129 | -2.5% |
| Non-recurring operating charges | 66A | €2,807 | €2,380 | -€427 | -15.2% |
| Gross operating margin | 9900 | €18,445 | €12,045 | -€6,400 | -34.7% |
| Operating profit (loss) | 9901 | €119 | -€5,762 | -€5,880 | |
| Financial income | 75/76B | €92 | €65 | -€27 | -29.6% |
| Recurring financial income | 75 | €92 | €65 | -€27 | -29.6% |
| Financial charges | 65/66B | €7,354 | €8,856 | +€1,503 | +20.4% |
| Recurring financial charges | 65 | €7,354 | €8,856 | +€1,503 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,143 | -€14,553 | -€7,410 | -103.7% |
| Income taxes | 67/77 | €194 | - | -€194 | |
| Profit (loss) for the period | 9904 | -€7,337 | -€14,553 | -€7,216 | -98.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,337 | -€14,553 | -€7,216 | -98.3% |
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 4 October 2026 via checked.be.