I & B: 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.
I & B
Largest movements
- Tangible fixed assets +€83,703
up €83,703 (+5.1%), from €1.7m to €1.7m
of which Land and buildings: +€51,872
- Receivables within one year -€25,000
no longer reported in 2025 (was €25,000)
- Debts after one year +€118,495
up €118,495 (+10.4%), from €1.1m to €1.3m
of which Financial debts: +€136,495
- Profit (loss) carried forward -€57,768
down €57,768 (-32.8%), from -€176,287 to -€234,055
- Other debts -€34,702
down €34,702 (-17.3%), from €200,457 to €165,755
- Trade debts +€33,239
up €33,239 (+358.8%), from €9,265 to €42,503
- Gross operating margin -€13,466
down €13,466 (-27.2%), from €49,585 to €36,119
- Depreciation +€12,882
up €12,882 (+22.9%), from €56,134 to €69,017
- Financial charges +€2,655
up €2,655 (+27.4%), from €9,681 to €12,336
- Other operating charges +€780
up €780 (+6.6%), from €11,777 to €12,557
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 | €1,683,125 | €1,742,879 | +€59,754 | +3.6% |
| Fixed assets | 21/28 | €1,656,718 | €1,740,420 | +€83,703 | +5.1% |
| Tangible fixed assets | 22/27 | €1,656,271 | €1,739,974 | +€83,703 | +5.1% |
| Land and buildings | 22 | €1,640,143 | €1,692,015 | +€51,872 | +3.2% |
| Plant, machinery and equipment | 23 | €16,129 | €13,503 | -€2,626 | -16.3% |
| Furniture and vehicles | 24 | - | €34,456 | +€34,456 | |
| Financial fixed assets | 28 | €446 | €446 | = | 0.0% |
| Current assets | 29/58 | €26,407 | €2,459 | -€23,948 | -90.7% |
| Amounts receivable within one year | 40/41 | €25,000 | - | -€25,000 | |
| Trade receivables | 40 | €25,000 | - | -€25,000 | |
| Cash at bank and in hand | 54/58 | €1,407 | €2,459 | +€1,052 | +74.7% |
| Total equity and liabilities | 10/49 | €1,683,125 | €1,742,879 | +€59,754 | +3.6% |
| Equity | 10/15 | €305,357 | €247,589 | -€57,768 | -18.9% |
| Contributions | 10/11 | €440,000 | €440,000 | = | 0.0% |
| Capital | 10 | €440,000 | €440,000 | = | 0.0% |
| Issued capital | 100 | €440,000 | €440,000 | = | 0.0% |
| Reserves | 13 | €41,644 | €41,644 | = | 0.0% |
| Non-distributable reserves | 130/1 | €41,644 | €41,644 | = | 0.0% |
| Legal reserve | 130 | €41,644 | €41,644 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€176,287 | -€234,055 | -€57,768 | -32.8% |
| Amounts payable | 17/49 | €1,377,768 | €1,495,290 | +€117,522 | +8.5% |
| Amounts payable after more than one year | 17 | €1,136,869 | €1,255,364 | +€118,495 | +10.4% |
| Financial debts | 170/4 | €697,034 | €833,529 | +€136,495 | +19.6% |
| Trade debts | 175 | €439,835 | €421,835 | -€18,000 | -4.1% |
| Amounts payable within one year | 42/48 | €240,899 | €239,926 | -€973 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €31,177 | €31,667 | +€490 | +1.6% |
| Trade debts | 44 | €9,265 | €42,503 | +€33,239 | +358.8% |
| Suppliers | 440/4 | €9,265 | €42,503 | +€33,239 | +358.8% |
| Other amounts payable | 47/48 | €200,457 | €165,755 | -€34,702 | -17.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,134 | €69,017 | +€12,882 | +22.9% |
| Other operating charges | 640/8 | €11,777 | €12,557 | +€780 | +6.6% |
| Gross operating margin | 9900 | €49,585 | €36,119 | -€13,466 | -27.2% |
| Operating profit (loss) | 9901 | -€18,326 | -€45,455 | -€27,129 | -148.0% |
| Financial income | 75/76B | €130 | €23 | -€107 | -82.5% |
| Recurring financial income | 75 | €130 | €23 | -€107 | -82.5% |
| Financial charges | 65/66B | €9,681 | €12,336 | +€2,655 | +27.4% |
| Recurring financial charges | 65 | €9,681 | €12,336 | +€2,655 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | -€27,877 | -€57,768 | -€29,891 | -107.2% |
| Profit (loss) for the period | 9904 | -€27,877 | -€57,768 | -€29,891 | -107.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,877 | -€57,768 | -€29,891 | -107.2% |
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.