Hidden: 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.
Hidden
Largest movements
- Tangible fixed assets +€2.7m
up €2.7m (+24742.3%), from €10,755 to €2.7m
of which Land and buildings: +€2.7m
- Cash -€202,435
down €202,435 (-93.3%), from €216,904 to €14,469
mainly Investment in fixed assets (net) (-€2.8m) and Receivables within one year (-€174,080)
- Receivables within one year +€174,080
up €174,080 (+133.5%), from €130,417 to €304,496
of which Other amounts receivable: +€118,260
- Debts after one year +€2.3m
up €2.3m (+917.0%), from €250,000 to €2.5m
- Trade debts +€331,909
up €331,909 (+2550.5%), from €13,013 to €344,923
- Current portion of long-term debt +€121,832
new in 2025: €121,832
- Profit (loss) carried forward -€121,412
down €121,412 (-2735.8%), from -€4,438 to -€125,850
- Depreciation +€95,467
new in 2025: €95,467
- Financial charges +€62,712
up €62,712 (+26683.5%), from €235 to €62,947
- Gross operating margin +€38,884
up €38,884, from -€3,313 to €35,570
- Financial income +€2,597
new in 2025: €2,597
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 | €358,075 | €2,990,713 | +€2.6m | +735.2% |
| Fixed assets | 21/28 | €10,755 | €2,671,747 | +€2.7m | +24742.3% |
| Tangible fixed assets | 22/27 | €10,755 | €2,671,747 | +€2.7m | +24742.3% |
| Land and buildings | 22 | - | €2,671,747 | +€2.7m | |
| Assets under construction and advance payments | 27 | €10,755 | €0 | -€10,755 | -100.0% |
| Current assets | 29/58 | €347,321 | €318,966 | -€28,355 | -8.2% |
| Amounts receivable within one year | 40/41 | €130,417 | €304,496 | +€174,080 | +133.5% |
| Trade receivables | 40 | - | €55,819 | +€55,819 | |
| Other amounts receivable | 41 | €130,417 | €248,677 | +€118,260 | +90.7% |
| Cash at bank and in hand | 54/58 | €216,904 | €14,469 | -€202,435 | -93.3% |
| Total equity and liabilities | 10/49 | €358,075 | €2,990,713 | +€2.6m | +735.2% |
| Equity | 10/15 | €57,062 | -€64,350 | -€121,412 | |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,438 | -€125,850 | -€121,412 | -2735.8% |
| Amounts payable | 17/49 | €301,013 | €3,055,063 | +€2.8m | +914.9% |
| Amounts payable after more than one year | 17 | €250,000 | €2,542,421 | +€2.3m | +917.0% |
| Financial debts | 170/4 | €250,000 | €2,542,421 | +€2.3m | +917.0% |
| Amounts payable within one year | 42/48 | €51,013 | €505,142 | +€454,128 | +890.2% |
| Current portion of amounts payable after more than one year | 42 | - | €121,832 | +€121,832 | |
| Trade debts | 44 | €13,013 | €344,923 | +€331,909 | +2550.5% |
| Suppliers | 440/4 | €13,013 | €344,923 | +€331,909 | +2550.5% |
| Taxes, remuneration and social security | 45 | - | €10,387 | +€10,387 | |
| Taxes | 450/3 | - | €10,387 | +€10,387 | |
| Other amounts payable | 47/48 | €38,000 | €28,000 | -€10,000 | -26.3% |
| Accrued charges and deferred income | 492/3 | - | €7,500 | +€7,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €95,467 | +€95,467 | |
| Other operating charges | 640/8 | €890 | €1,166 | +€276 | +31.0% |
| Gross operating margin | 9900 | -€3,313 | €35,570 | +€38,884 | |
| Operating profit (loss) | 9901 | -€4,203 | -€61,063 | -€56,860 | -1352.9% |
| Financial income | 75/76B | - | €2,597 | +€2,597 | |
| Recurring financial income | 75 | - | €2,597 | +€2,597 | |
| Financial charges | 65/66B | €235 | €62,947 | +€62,712 | +26683.5% |
| Recurring financial charges | 65 | €235 | €62,947 | +€62,712 | +26683.5% |
| Profit (loss) for the period before taxes | 9903 | -€4,438 | -€121,412 | -€116,974 | -2635.8% |
| Profit (loss) for the period | 9904 | -€4,438 | -€121,412 | -€116,974 | -2635.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,438 | -€121,412 | -€116,974 | -2635.8% |
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 6 October 2026 via checked.be.