INDEX: 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.
INDEX
Largest movements
- Tangible fixed assets +€122,947
up €122,947 (+26.7%), from €461,078 to €584,025
of which Land and buildings: +€121,235
- Cash -€19,566
down €19,566 (-50.3%), from €38,920 to €19,354
mainly Investment in fixed assets (net) (-€140,196) and Net result for the year (-€77,657)
- Stocks and contracts +€7,000
new in 2025: €7,000
- Other debts +€160,472
up €160,472 (+114.2%), from €140,560 to €301,031
- Profit (loss) carried forward -€77,657
down €77,657 (-53.5%), from -€145,108 to -€222,766
- Trade debts +€23,945
up €23,945 (+6841.5%), from €350 to €24,295
- Gross operating margin -€49,800
down €49,800, from €1,306 to -€48,494
- Depreciation +€4,055
up €4,055 (+30.0%), from €13,524 to €17,579
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 | €506,037 | €620,297 | +€114,261 | +22.6% |
| Formation expenses | 20 | €425 | €95 | -€329 | -77.6% |
| Fixed assets | 21/28 | €461,078 | €584,025 | +€122,947 | +26.7% |
| Tangible fixed assets | 22/27 | €461,078 | €584,025 | +€122,947 | +26.7% |
| Land and buildings | 22 | €455,172 | €576,407 | +€121,235 | +26.6% |
| Plant, machinery and equipment | 23 | €4,987 | €6,415 | +€1,428 | +28.6% |
| Furniture and vehicles | 24 | €920 | €1,203 | +€284 | +30.8% |
| Current assets | 29/58 | €44,534 | €36,177 | -€8,357 | -18.8% |
| Stocks and contracts in progress | 3 | - | €7,000 | +€7,000 | |
| Stocks | 30/36 | - | €7,000 | +€7,000 | |
| Amounts receivable within one year | 40/41 | €5,614 | €8,122 | +€2,509 | +44.7% |
| Trade receivables | 40 | €5,614 | €3,600 | -€2,014 | -35.9% |
| Other amounts receivable | 41 | €0 | €4,522 | +€4,522 | |
| Cash at bank and in hand | 54/58 | €38,920 | €19,354 | -€19,566 | -50.3% |
| Deferred charges and accrued income | 490/1 | €0 | €1,701 | +€1,701 | |
| Total equity and liabilities | 10/49 | €506,037 | €620,297 | +€114,261 | +22.6% |
| Equity | 10/15 | €104,892 | €27,234 | -€77,657 | -74.0% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€145,108 | -€222,766 | -€77,657 | -53.5% |
| Amounts payable | 17/49 | €401,145 | €593,063 | +€191,918 | +47.8% |
| Amounts payable after more than one year | 17 | €250,000 | €250,000 | = | 0.0% |
| Financial debts | 170/4 | €250,000 | €250,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €141,145 | €333,063 | +€191,918 | +136.0% |
| Financial debts | 43 | - | €3,218 | +€3,218 | |
| Credit institutions | 430/8 | - | €3,218 | +€3,218 | |
| Trade debts | 44 | €350 | €24,295 | +€23,945 | +6841.5% |
| Suppliers | 440/4 | €350 | €24,295 | +€23,945 | +6841.5% |
| Advances received on contracts in progress | 46 | - | €4,356 | +€4,356 | |
| Taxes, remuneration and social security | 45 | €235 | €163 | -€72 | -30.8% |
| Taxes | 450/3 | €235 | €163 | -€72 | -30.8% |
| Other amounts payable | 47/48 | €140,560 | €301,031 | +€160,472 | +114.2% |
| Accrued charges and deferred income | 492/3 | €10,000 | €10,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,524 | €17,579 | +€4,055 | +30.0% |
| Other operating charges | 640/8 | €2,006 | €1,728 | -€278 | -13.9% |
| Gross operating margin | 9900 | €1,306 | -€48,494 | -€49,800 | |
| Operating profit (loss) | 9901 | -€14,224 | -€67,800 | -€53,576 | -376.7% |
| Financial income | 75/76B | €87 | €310 | +€223 | +256.4% |
| Recurring financial income | 75 | €87 | €310 | +€223 | +256.4% |
| Financial charges | 65/66B | €10,069 | €10,167 | +€98 | +1.0% |
| Recurring financial charges | 65 | €10,069 | €10,167 | +€98 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | -€24,207 | -€77,657 | -€53,451 | -220.8% |
| Profit (loss) for the period | 9904 | -€24,207 | -€77,657 | -€53,451 | -220.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,207 | -€77,657 | -€53,451 | -220.8% |
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 7 October 2026 via checked.be.