IN TWO: 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.
IN TWO
Largest movements
- Cash -€24,259
down €24,259 (-49.0%), from €49,506 to €25,247
mainly Debts after one year (-€22,083) and Investment in fixed assets (net) (-€21,124)
- Tangible fixed assets -€10,602
down €10,602 (-5.1%), from €209,570 to €198,968
of which Land and buildings: -€21,452
- Receivables within one year +€6,258
up €6,258 (+13.5%), from €46,291 to €52,549
of which Trade receivables: +€8,758
- Debts after one year -€22,083
down €22,083 (-19.1%), from €115,846 to €93,763
- Profit (loss) carried forward -€5,055
down €5,055 (-3.7%), from €137,760 to €132,705
- Turnover +€131,244
new in 2025: €131,244
- Purchases and services +€100,915
new in 2025: €100,915
- Gross operating margin -€59,874
down €59,874 (-65.1%), from €91,941 to €32,067
- Financial charges -€52,158
down €52,158 (-96.3%), from €54,145 to €1,988
of which Non-recurring financial charges: -€50,648
- Depreciation -€8,142
down €8,142 (-20.4%), from €39,868 to €31,726
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 | €305,367 | €276,764 | -€28,603 | -9.4% |
| Fixed assets | 21/28 | €209,570 | €198,968 | -€10,602 | -5.1% |
| Tangible fixed assets | 22/27 | €209,570 | €198,968 | -€10,602 | -5.1% |
| Land and buildings | 22 | €183,942 | €162,491 | -€21,452 | -11.7% |
| Furniture and vehicles | 24 | €12,774 | €5,565 | -€7,209 | -56.4% |
| Other tangible fixed assets | 26 | €12,854 | €30,912 | +€18,058 | +140.5% |
| Current assets | 29/58 | €95,797 | €77,796 | -€18,001 | -18.8% |
| Amounts receivable within one year | 40/41 | €46,291 | €52,549 | +€6,258 | +13.5% |
| Trade receivables | 40 | €43,791 | €52,549 | +€8,758 | +20.0% |
| Other amounts receivable | 41 | €2,500 | - | -€2,500 | |
| Cash at bank and in hand | 54/58 | €49,506 | €25,247 | -€24,259 | -49.0% |
| Total equity and liabilities | 10/49 | €305,367 | €276,764 | -€28,603 | -9.4% |
| Equity | 10/15 | €145,820 | €140,765 | -€5,055 | -3.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,760 | €132,705 | -€5,055 | -3.7% |
| Amounts payable | 17/49 | €159,547 | €135,999 | -€23,548 | -14.8% |
| Amounts payable after more than one year | 17 | €115,846 | €93,763 | -€22,083 | -19.1% |
| Financial debts | 170/4 | €115,846 | €93,763 | -€22,083 | -19.1% |
| Amounts payable within one year | 42/48 | €43,702 | €42,236 | -€1,466 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €21,787 | €22,083 | +€296 | +1.4% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €420 | €893 | +€474 | +112.9% |
| Taxes | 450/3 | €420 | €893 | +€474 | +112.9% |
| Other amounts payable | 47/48 | €21,496 | €19,261 | -€2,235 | -10.4% |
| Turnover | 70 | - | €131,244 | +€131,244 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €100,915 | +€100,915 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,868 | €31,726 | -€8,142 | -20.4% |
| Other operating charges | 640/8 | €7,619 | €3,408 | -€4,212 | -55.3% |
| Gross operating margin | 9900 | €91,941 | €32,067 | -€59,874 | -65.1% |
| Operating profit (loss) | 9901 | €44,454 | -€3,067 | -€47,521 | |
| Financial income | 75/76B | €202 | - | -€202 | |
| Recurring financial income | 75 | €52 | - | -€52 | |
| Non-recurring financial income | 76B | €150 | - | -€150 | |
| Financial charges | 65/66B | €54,145 | €1,988 | -€52,158 | -96.3% |
| Recurring financial charges | 65 | €3,497 | €1,988 | -€1,509 | -43.2% |
| Non-recurring financial charges | 66B | €50,648 | - | -€50,648 | |
| Profit (loss) for the period before taxes | 9903 | -€9,490 | -€5,055 | +€4,435 | +46.7% |
| Income taxes | 67/77 | -€430 | - | +€430 | |
| Profit (loss) for the period | 9904 | -€9,059 | -€5,055 | +€4,004 | +44.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,059 | -€5,055 | +€4,004 | +44.2% |
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 28 September 2026 via checked.be.