IN THE SPOTLIGHTS: what changed
IN THE SPOTLIGHTS
Largest movements
- Receivables within one year +€11,798
new in 2025: €11,798
- Tangible fixed assets -€6,191
down €6,191 (-9.8%), from €63,339 to €57,148
- Cash +€3,707
up €3,707 (+75.9%), from €4,882 to €8,590
mainly Other debts (+€15,617) and Depreciation (+€6,191)
- Deferred charges and accrued income +€1,280
up €1,280 (+322%), from €398 to €1,677
- Other debts +€15,617
up €15,617 (+325%), from €4,802 to €20,419
- Current portion of long-term debt -€6,675
down €6,675 (-57.5%), from €11,600 to €4,926
- Tax, wage and social debts +€5,266
new in 2025: €5,266
- Debts after one year -€4,926
down €4,926 (-100%), from €4,926 to €0
- Trade debts +€1,387
up €1,387 (+1,261%), from €110 to €1,497
- Gross operating margin +€6,982
up €6,982 (+145%), from €4,803 to €11,785
- Depreciation -€336
down €336 (-5.1%), from €6,527 to €6,191
- Other operating charges +€238
up €238 (+5.2%), from €4,598 to €4,836
- Financial charges -€147
down €147 (-15.4%), from €954 to €807
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 | €68,727 | €79,320 | +€10,593 | +15.4% |
| Fixed assets | 21/28 | €63,447 | €57,256 | -€6,191 | -9.8% |
| Tangible fixed assets | 22/27 | €63,339 | €57,148 | -€6,191 | -9.8% |
| Land and buildings | 22 | €63,339 | €57,148 | -€6,191 | -9.8% |
| Financial fixed assets | 28 | €108 | €108 | = | 0.0% |
| Current assets | 29/58 | €5,280 | €22,064 | +€16,784 | +318% |
| Amounts receivable within one year | 40/41 | - | €11,798 | +€11,798 | |
| Trade receivables | 40 | - | €11,798 | +€11,798 | |
| Cash at bank and in hand | 54/58 | €4,882 | €8,590 | +€3,707 | +75.9% |
| Deferred charges and accrued income | 490/1 | €398 | €1,677 | +€1,280 | +322% |
| Total equity and liabilities | 10/49 | €68,727 | €79,320 | +€10,593 | +15.4% |
| Equity | 10/15 | €45,240 | €45,163 | -€77 | -0.2% |
| Contributions | 10/11 | €1,691 | €1,691 | = | 0.0% |
| Reserves | 13 | €111,094 | €111,094 | = | 0.0% |
| Distributable reserves | 133 | €111,094 | €111,094 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,545 | -€67,621 | -€77 | -0.1% |
| Amounts payable | 17/49 | €23,487 | €34,157 | +€10,670 | +45.4% |
| Amounts payable after more than one year | 17 | €4,926 | €0 | -€4,926 | -100% |
| Financial debts | 170/4 | €4,926 | €0 | -€4,926 | -100% |
| Amounts payable within one year | 42/48 | €16,512 | €32,107 | +€15,595 | +94.5% |
| Current portion of amounts payable after more than one year | 42 | €11,600 | €4,926 | -€6,675 | -57.5% |
| Trade debts | 44 | €110 | €1,497 | +€1,387 | +1,261% |
| Suppliers | 440/4 | €110 | €1,497 | +€1,387 | +1,261% |
| Taxes, remuneration and social security | 45 | - | €5,266 | +€5,266 | |
| Taxes | 450/3 | - | €5,266 | +€5,266 | |
| Other amounts payable | 47/48 | €4,802 | €20,419 | +€15,617 | +325% |
| Accrued charges and deferred income | 492/3 | €2,050 | €2,050 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,527 | €6,191 | -€336 | -5.1% |
| Other operating charges | 640/8 | €4,598 | €4,836 | +€238 | +5.2% |
| Gross operating margin | 9900 | €4,803 | €11,785 | +€6,982 | +145% |
| Operating profit (loss) | 9901 | -€6,322 | €758 | +€7,080 | |
| Financial charges | 65/66B | €954 | €807 | -€147 | -15.4% |
| Recurring financial charges | 65 | €954 | €807 | -€147 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,276 | -€49 | +€7,227 | +99.3% |
| Income taxes | 67/77 | - | €27 | +€27 | |
| Profit (loss) for the period | 9904 | -€7,276 | -€77 | +€7,200 | +98.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,276 | -€77 | +€7,200 | +98.9% |
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 2 November 2026 via checked.be.