Here we are: 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.
Here we are
Largest movements
- Tangible fixed assets -€69,599
down €69,599 (-2.9%), from €2.4m to €2.3m
- Debts after one year -€77,028
down €77,028 (-3.3%), from €2.4m to €2.3m
- Financial charges -€8,851
down €8,851 (-20.6%), from €42,890 to €34,039
- Gross operating margin -€4,345
down €4,345 (-3.5%), from €125,851 to €121,507
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 | €2,439,205 | €2,390,592 | -€48,614 | -2.0% |
| Formation expenses | 20 | €783 | €428 | -€355 | -45.3% |
| Fixed assets | 21/28 | €2,369,519 | €2,299,920 | -€69,599 | -2.9% |
| Tangible fixed assets | 22/27 | €2,369,519 | €2,299,920 | -€69,599 | -2.9% |
| Land and buildings | 22 | €2,369,519 | €2,299,920 | -€69,599 | -2.9% |
| Current assets | 29/58 | €68,904 | €90,243 | +€21,340 | +31.0% |
| Amounts receivable after more than one year | 29 | €28,040 | €28,040 | = | 0.0% |
| Other amounts receivable | 291 | €28,040 | €28,040 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €23,538 | €28,386 | +€4,848 | +20.6% |
| Deferred charges and accrued income | 490/1 | €17,326 | €33,818 | +€16,492 | +95.2% |
| Total equity and liabilities | 10/49 | €2,439,205 | €2,390,592 | -€48,614 | -2.0% |
| Equity | 10/15 | -€4,626 | €8,797 | +€13,422 | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,626 | -€41,203 | +€13,422 | +24.6% |
| Amounts payable | 17/49 | €2,443,831 | €2,381,795 | -€62,036 | -2.5% |
| Amounts payable after more than one year | 17 | €2,366,221 | €2,289,193 | -€77,028 | -3.3% |
| Financial debts | 170/4 | €2,366,221 | €2,289,193 | -€77,028 | -3.3% |
| Amounts payable within one year | 42/48 | €77,610 | €92,602 | +€14,992 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €76,626 | €78,250 | +€1,624 | +2.1% |
| Trade debts | 44 | €984 | €14,352 | +€13,368 | +1358.1% |
| Suppliers | 440/4 | €984 | €14,352 | +€13,368 | +1358.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,954 | €69,954 | = | 0.0% |
| Other operating charges | 640/8 | €3,334 | €4,091 | +€757 | +22.7% |
| Gross operating margin | 9900 | €125,851 | €121,507 | -€4,345 | -3.5% |
| Operating profit (loss) | 9901 | €52,564 | €47,462 | -€5,102 | -9.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €42,890 | €34,039 | -€8,851 | -20.6% |
| Recurring financial charges | 65 | €42,890 | €34,039 | -€8,851 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €9,674 | €13,422 | +€3,749 | +38.8% |
| Profit (loss) for the period | 9904 | €9,674 | €13,422 | +€3,749 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,674 | €13,422 | +€3,749 | +38.8% |
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 7 October 2026 via checked.be.