INTERIM CAR: 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.
INTERIM CAR
Largest movements
- Tangible fixed assets +€420,583
up €420,583 (+160.7%), from €261,659 to €682,242
of which Furniture and vehicles: +€422,080
- Cash -€21,012
down €21,012 (-18.9%), from €111,062 to €90,050
mainly Investment in fixed assets (net) (-€591,231) and Contributions, distributions and other (-€10,000)
- Debts after one year +€173,039
up €173,039 (+177.5%), from €97,485 to €270,524
- Current portion of long-term debt +€167,438
up €167,438 (+255.6%), from €65,512 to €232,950
- Reserves +€45,746
up €45,746 (+12.2%), from €374,444 to €420,190
of which Distributable reserves: +€45,746
- Gross operating margin +€32,848
up €32,848 (+15.5%), from €211,569 to €244,417
- Depreciation +€14,989
up €14,989 (+9.6%), from €155,928 to €170,917
- Other operating charges -€12,726
down €12,726 (-57.1%), from €22,269 to €9,543
- Financial charges +€8,438
up €8,438 (+147.4%), from €5,726 to €14,163
- Taxes +€2,800
up €2,800 (+22.5%), from €12,448 to €15,249
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 | €1,050,345 | €1,443,630 | +€393,285 | +37.4% |
| Fixed assets | 21/28 | €265,874 | €686,187 | +€420,313 | +158.1% |
| Tangible fixed assets | 22/27 | €261,659 | €682,242 | +€420,583 | +160.7% |
| Plant, machinery and equipment | 23 | €1,497 | €0 | -€1,497 | -100.0% |
| Furniture and vehicles | 24 | €260,162 | €682,242 | +€422,080 | +162.2% |
| Financial fixed assets | 28 | €4,215 | €3,945 | -€270 | -6.4% |
| Current assets | 29/58 | €784,472 | €757,443 | -€27,028 | -3.4% |
| Amounts receivable within one year | 40/41 | €650,828 | €639,858 | -€10,970 | -1.7% |
| Trade receivables | 40 | €148,162 | €39,249 | -€108,913 | -73.5% |
| Other amounts receivable | 41 | €502,666 | €600,609 | +€97,943 | +19.5% |
| Cash at bank and in hand | 54/58 | €111,062 | €90,050 | -€21,012 | -18.9% |
| Deferred charges and accrued income | 490/1 | €22,582 | €27,536 | +€4,954 | +21.9% |
| Total equity and liabilities | 10/49 | €1,050,345 | €1,443,630 | +€393,285 | +37.4% |
| Equity | 10/15 | €876,742 | €922,487 | +€45,746 | +5.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €374,444 | €420,190 | +€45,746 | +12.2% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €60,800 | €60,800 | = | 0.0% |
| Distributable reserves | 133 | €307,494 | €353,240 | +€45,746 | +14.9% |
| Profit (loss) carried forward | 14 | €440,798 | €440,798 | = | 0.0% |
| Amounts payable | 17/49 | €173,604 | €521,143 | +€347,540 | +200.2% |
| Amounts payable after more than one year | 17 | €97,485 | €270,524 | +€173,039 | +177.5% |
| Financial debts | 170/4 | €97,485 | €270,524 | +€173,039 | +177.5% |
| Amounts payable within one year | 42/48 | €75,869 | €250,269 | +€174,400 | +229.9% |
| Current portion of amounts payable after more than one year | 42 | €65,512 | €232,950 | +€167,438 | +255.6% |
| Trade debts | 44 | €7,909 | €7,071 | -€838 | -10.6% |
| Suppliers | 440/4 | €7,909 | €7,071 | -€838 | -10.6% |
| Taxes, remuneration and social security | 45 | €2,448 | €249 | -€2,200 | -89.8% |
| Taxes | 450/3 | €2,448 | €249 | -€2,200 | -89.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €10,000 | +€10,000 | |
| Accrued charges and deferred income | 492/3 | €250 | €350 | +€100 | +40.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | -€692 | €0 | +€692 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €155,928 | €170,917 | +€14,989 | +9.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €22,269 | €9,543 | -€12,726 | -57.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €211,569 | €244,417 | +€32,848 | +15.5% |
| Operating profit (loss) | 9901 | €34,065 | €63,957 | +€29,892 | +87.8% |
| Financial income | 75/76B | €21,454 | €21,200 | -€254 | -1.2% |
| Recurring financial income | 75 | €21,454 | €21,200 | -€254 | -1.2% |
| Financial charges | 65/66B | €5,726 | €14,163 | +€8,438 | +147.4% |
| Recurring financial charges | 65 | €5,726 | €14,163 | +€8,438 | +147.4% |
| Profit (loss) for the period before taxes | 9903 | €49,793 | €70,994 | +€21,201 | +42.6% |
| Income taxes | 67/77 | €12,448 | €15,249 | +€2,800 | +22.5% |
| Profit (loss) for the period | 9904 | €37,345 | €55,746 | +€18,401 | +49.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,345 | €55,746 | +€18,401 | +49.3% |
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.