GROUP 16: 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.
GROUP 16
Largest movements
- Tangible fixed assets -€44,978
down €44,978 (-4.7%), from €961,463 to €916,485
- Profit (loss) carried forward -€71,672
down €71,672 (-93.4%), from -€76,744 to -€148,416
- Other debts +€63,196
up €63,196 (+42.4%), from €148,988 to €212,184
- Debts after one year -€47,440
down €47,440 (-6.4%), from €745,733 to €698,293
of which Financial debts: -€43,240
- Trade debts +€10,743
up €10,743 (+158.7%), from €6,771 to €17,514
- Financial charges +€36,099
up €36,099 (+4316.4%), from €836 to €36,935
of which Non-recurring financial charges: +€18,116
- Gross operating margin -€22,135
down €22,135 (-43.8%), from €50,503 to €28,368
- Staff costs +€1,854
new in 2025: €1,854
- Other operating charges +€1,833
up €1,833 (+12.7%), from €14,441 to €16,273
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 | €966,934 | €931,031 | -€35,903 | -3.7% |
| Fixed assets | 21/28 | €961,463 | €916,695 | -€44,768 | -4.7% |
| Tangible fixed assets | 22/27 | €961,463 | €916,485 | -€44,978 | -4.7% |
| Land and buildings | 22 | €961,463 | €916,485 | -€44,978 | -4.7% |
| Financial fixed assets | 28 | - | €210 | +€210 | |
| Current assets | 29/58 | €5,471 | €14,336 | +€8,864 | +162.0% |
| Amounts receivable within one year | 40/41 | €2,366 | €8,171 | +€5,805 | +245.4% |
| Trade receivables | 40 | €2,005 | €8,115 | +€6,110 | +304.7% |
| Other amounts receivable | 41 | €361 | €56 | -€305 | -84.5% |
| Cash at bank and in hand | 54/58 | €1,166 | €4,151 | +€2,985 | +255.9% |
| Deferred charges and accrued income | 490/1 | €1,939 | €2,014 | +€75 | +3.9% |
| Total equity and liabilities | 10/49 | €966,934 | €931,031 | -€35,903 | -3.7% |
| Equity | 10/15 | €23,256 | -€48,416 | -€71,672 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,744 | -€148,416 | -€71,672 | -93.4% |
| Amounts payable | 17/49 | €943,678 | €979,447 | +€35,769 | +3.8% |
| Amounts payable after more than one year | 17 | €745,733 | €698,293 | -€47,440 | -6.4% |
| Financial debts | 170/4 | €720,733 | €677,493 | -€43,240 | -6.0% |
| Other amounts payable | 178/9 | €25,000 | €20,800 | -€4,200 | -16.8% |
| Amounts payable within one year | 42/48 | €197,945 | €281,154 | +€83,209 | +42.0% |
| Current portion of amounts payable after more than one year | 42 | €41,892 | €47,150 | +€5,257 | +12.5% |
| Trade debts | 44 | €6,771 | €17,514 | +€10,743 | +158.7% |
| Suppliers | 440/4 | €6,771 | €17,514 | +€10,743 | +158.7% |
| Taxes, remuneration and social security | 45 | €293 | €4,307 | +€4,013 | +1367.6% |
| Taxes | 450/3 | €293 | €3,263 | +€2,970 | +1012.0% |
| Remuneration and social security | 454/9 | - | €1,043 | +€1,043 | |
| Other amounts payable | 47/48 | €148,988 | €212,184 | +€63,196 | +42.4% |
| Remuneration, social security and pensions | 62 | - | €1,854 | +€1,854 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,978 | €44,978 | = | 0.0% |
| Other operating charges | 640/8 | €14,441 | €16,273 | +€1,833 | +12.7% |
| Gross operating margin | 9900 | €50,503 | €28,368 | -€22,135 | -43.8% |
| Operating profit (loss) | 9901 | -€8,915 | -€34,737 | -€25,821 | -289.6% |
| Financial charges | 65/66B | €836 | €36,935 | +€36,099 | +4316.4% |
| Recurring financial charges | 65 | €836 | €18,819 | +€17,983 | +2150.2% |
| Non-recurring financial charges | 66B | - | €18,116 | +€18,116 | |
| Profit (loss) for the period before taxes | 9903 | -€9,752 | -€71,672 | -€61,920 | -635.0% |
| Profit (loss) for the period | 9904 | -€9,752 | -€71,672 | -€61,920 | -635.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,752 | -€71,672 | -€61,920 | -635.0% |
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 3 October 2026 via checked.be.