HOME STORY: what changed
HOME STORY
Largest movements
- Tangible fixed assets -€384,146
down €384,146 (-43.9%), from €875,353 to €491,207
- Receivables after one year +€220,756
new in 2025: €220,756
- Financial fixed assets +€81,343
up €81,343 (+70.6%), from €115,155 to €196,498
- Cash +€45,080
up €45,080 (+1,996%), from €2,258 to €47,339
mainly Investment in fixed assets (net) (+€287,933) and Net result for the year (+€173,755)
- Deferred charges and accrued income +€11,350
up €11,350 (+514%), from €2,210 to €13,561
- Profit (loss) carried forward +€314,889
up €314,889 (+745%), from €42,269 to €357,159
- Reserves -€141,134
down €141,134 (-57.2%), from €246,771 to €105,637
of which Tax-exempt reserves: -€141,134
- Debts after one year -€136,521
down €136,521 (-40.3%), from €338,759 to €202,238
of which Financial debts: -€134,621
- Provisions -€47,045
down €47,045 (-57.3%), from €82,166 to €35,121
- Current portion of long-term debt -€22,567
down €22,567 (-43.1%), from €52,366 to €29,799
- Gross operating margin +€193,958
up €193,958 (+270%), from €71,787 to €265,745
- Taxes +€93,742
up €93,742 (+739%), from €12,682 to €106,424
- Depreciation -€14,822
down €14,822 (-49.9%), from €29,693 to €14,870
- Other operating charges +€3,919
up €3,919 (+60.9%), from €6,431 to €10,351
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €994,977 | €977,673 | -€17,304 | -1.7% |
| Fixed assets | 21/28 | €990,508 | €687,705 | -€302,803 | -30.6% |
| Tangible fixed assets | 22/27 | €875,353 | €491,207 | -€384,146 | -43.9% |
| Land and buildings | 22 | €875,353 | €491,207 | -€384,146 | -43.9% |
| Financial fixed assets | 28 | €115,155 | €196,498 | +€81,343 | +70.6% |
| Current assets | 29/58 | €4,469 | €289,968 | +€285,499 | +6,389% |
| Amounts receivable after more than one year | 29 | - | €220,756 | +€220,756 | |
| Other amounts receivable | 291 | - | €220,756 | +€220,756 | |
| Amounts receivable within one year | 40/41 | €0 | €8,313 | +€8,313 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | - | €8,313 | +€8,313 | |
| Cash at bank and in hand | 54/58 | €2,258 | €47,339 | +€45,080 | +1,996% |
| Deferred charges and accrued income | 490/1 | €2,210 | €13,561 | +€11,350 | +514% |
| Total equity and liabilities | 10/49 | €994,977 | €977,673 | -€17,304 | -1.7% |
| Equity | 10/15 | €451,041 | €624,796 | +€173,755 | +38.5% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Capital | 10 | €162,000 | €162,000 | = | 0.0% |
| Issued capital | 100 | €162,000 | €162,000 | = | 0.0% |
| Reserves | 13 | €246,771 | €105,637 | -€141,134 | -57.2% |
| Non-distributable reserves | 130/1 | €273 | €273 | = | 0.0% |
| Legal reserve | 130 | €273 | €273 | = | 0.0% |
| Tax-exempt reserves | 132 | €246,498 | €105,364 | -€141,134 | -57.3% |
| Profit (loss) carried forward | 14 | €42,269 | €357,159 | +€314,889 | +745% |
| Provisions and deferred taxes | 16 | €82,166 | €35,121 | -€47,045 | -57.3% |
| Deferred taxes | 168 | €82,166 | €35,121 | -€47,045 | -57.3% |
| Amounts payable | 17/49 | €461,770 | €317,755 | -€144,015 | -31.2% |
| Amounts payable after more than one year | 17 | €338,759 | €202,238 | -€136,521 | -40.3% |
| Financial debts | 170/4 | €334,309 | €199,688 | -€134,621 | -40.3% |
| Other amounts payable | 178/9 | €4,450 | €2,550 | -€1,900 | -42.7% |
| Amounts payable within one year | 42/48 | €108,583 | €82,498 | -€26,084 | -24.0% |
| Current portion of amounts payable after more than one year | 42 | €52,366 | €29,799 | -€22,567 | -43.1% |
| Trade debts | 44 | €1,017 | €5,451 | +€4,434 | +436% |
| Suppliers | 440/4 | €1,017 | €5,451 | +€4,434 | +436% |
| Taxes, remuneration and social security | 45 | €22,200 | €29,000 | +€6,800 | +30.6% |
| Taxes | 450/3 | €22,200 | €29,000 | +€6,800 | +30.6% |
| Other amounts payable | 47/48 | €33,000 | €18,249 | -€14,751 | -44.7% |
| Accrued charges and deferred income | 492/3 | €14,429 | €33,019 | +€18,590 | +129% |
| Non-recurring operating income | 76A | - | €288,257 | +€288,257 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,693 | €14,870 | -€14,822 | -49.9% |
| Other operating charges | 640/8 | €6,431 | €10,351 | +€3,919 | +60.9% |
| Gross operating margin | 9900 | €71,787 | €265,745 | +€193,958 | +270% |
| Operating profit (loss) | 9901 | €35,663 | €240,524 | +€204,861 | +574% |
| Financial charges | 65/66B | €8,092 | €7,389 | -€703 | -8.7% |
| Recurring financial charges | 65 | €8,092 | €7,389 | -€703 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €27,571 | €233,135 | +€205,564 | +746% |
| Transfer from deferred taxes | 780 | €3,735 | €47,045 | +€43,310 | +1,160% |
| Income taxes | 67/77 | €12,682 | €106,424 | +€93,742 | +739% |
| Profit (loss) for the period | 9904 | €18,624 | €173,755 | +€155,131 | +833% |
| Transfer from tax-exempt reserves | 789 | €11,204 | €141,134 | +€129,930 | +1,160% |
| Profit (loss) for the period to be appropriated | 9905 | €29,828 | €314,889 | +€285,061 | +956% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.