INTO ACTION: what changed
Two financial 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.
INTO ACTION
Largest movements
- Tangible fixed assets -€19,454
down €19,454 (-7.6%), from €257,653 to €238,199
of which Land and buildings: -€15,768
- Receivables within one year -€12,217
down €12,217 (-25.2%), from €48,460 to €36,243
of which Trade receivables: -€10,902
- Cash -€4,478
down €4,478 (-90.1%), from €4,972 to €494
mainly Net result for the year (-€48,978) and Trade debts (-€28,923)
- Deferred charges and accrued income -€3,837
down €3,837 (-95.1%), from €4,036 to €200
- Debts after one year +€49,721
up €49,721 (+41.2%), from €120,642 to €170,363
of which Other amounts payable: +€55,000
- Profit (loss) carried forward -€45,340
down €45,340 (-403%), from -€11,248 to -€56,588
- Trade debts -€28,923
down €28,923 (-98.9%), from €29,250 to €327
- Tax, wage and social debts -€8,805
down €8,805 (-51.7%), from €17,018 to €8,212
- Reserves -€3,802
down €3,802 (-3.8%), from €100,519 to €96,717
of which Tax-exempt reserves: -€3,802
- Gross operating margin -€33,774
down €33,774, from €23,719 to -€10,055
- Other operating charges +€1,889
up €1,889 (+77.4%), from €2,442 to €4,331
- Depreciation +€1,177
up €1,177 (+3.9%), from €30,521 to €31,698
- Financial charges -€404
down €404 (-8.4%), from €4,790 to €4,386
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.
Derived cash bridge
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 | €315,121 | €277,097 | -€38,025 | -12.1% |
| Fixed assets | 21/28 | €257,653 | €240,160 | -€17,493 | -6.8% |
| Intangible fixed assets | 21 | - | €1,961 | +€1,961 | |
| Tangible fixed assets | 22/27 | €257,653 | €238,199 | -€19,454 | -7.6% |
| Land and buildings | 22 | €187,562 | €171,794 | -€15,768 | -8.4% |
| Plant, machinery and equipment | 23 | €19,015 | €11,537 | -€7,478 | -39.3% |
| Furniture and vehicles | 24 | €8,375 | €15,015 | +€6,640 | +79.3% |
| Other tangible fixed assets | 26 | €42,701 | €39,853 | -€2,848 | -6.7% |
| Current assets | 29/58 | €57,468 | €36,937 | -€20,531 | -35.7% |
| Amounts receivable within one year | 40/41 | €48,460 | €36,243 | -€12,217 | -25.2% |
| Trade receivables | 40 | €37,631 | €26,729 | -€10,902 | -29.0% |
| Other amounts receivable | 41 | €10,829 | €9,514 | -€1,315 | -12.1% |
| Cash at bank and in hand | 54/58 | €4,972 | €494 | -€4,478 | -90.1% |
| Deferred charges and accrued income | 490/1 | €4,036 | €200 | -€3,837 | -95.1% |
| Total equity and liabilities | 10/49 | €315,121 | €277,097 | -€38,025 | -12.1% |
| Equity | 10/15 | €114,271 | €65,129 | -€49,141 | -43.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €100,519 | €96,717 | -€3,802 | -3.8% |
| Tax-exempt reserves | 132 | €39,050 | €35,248 | -€3,802 | -9.7% |
| Distributable reserves | 133 | €61,470 | €61,470 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,248 | -€56,588 | -€45,340 | -403% |
| Provisions and deferred taxes | 16 | €20,106 | €18,148 | -€1,958 | -9.7% |
| Deferred taxes | 168 | €20,106 | €18,148 | -€1,958 | -9.7% |
| Amounts payable | 17/49 | €180,745 | €193,819 | +€13,074 | +7.2% |
| Amounts payable after more than one year | 17 | €120,642 | €170,363 | +€49,721 | +41.2% |
| Financial debts | 170/4 | €10,642 | €5,363 | -€5,279 | -49.6% |
| Other amounts payable | 178/9 | €110,000 | €165,000 | +€55,000 | +50.0% |
| Amounts payable within one year | 42/48 | €53,996 | €20,088 | -€33,908 | -62.8% |
| Current portion of amounts payable after more than one year | 42 | €5,196 | €5,279 | +€83 | +1.6% |
| Financial debts | 43 | €529 | €2,006 | +€1,477 | +279% |
| Credit institutions | 430/8 | €529 | €2,006 | +€1,477 | +279% |
| Trade debts | 44 | €29,250 | €327 | -€28,923 | -98.9% |
| Suppliers | 440/4 | €29,250 | €327 | -€28,923 | -98.9% |
| Taxes, remuneration and social security | 45 | €17,018 | €8,212 | -€8,805 | -51.7% |
| Taxes | 450/3 | €17,018 | €8,212 | -€8,805 | -51.7% |
| Other amounts payable | 47/48 | €2,003 | €4,264 | +€2,261 | +113% |
| Accrued charges and deferred income | 492/3 | €6,108 | €3,369 | -€2,739 | -44.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,521 | €31,698 | +€1,177 | +3.9% |
| Other operating charges | 640/8 | €2,442 | €4,331 | +€1,889 | +77.4% |
| Non-recurring operating charges | 66A | €2,554 | €0 | -€2,554 | -100% |
| Gross operating margin | 9900 | €23,719 | -€10,055 | -€33,774 | |
| Operating profit (loss) | 9901 | -€11,797 | -€46,084 | -€34,286 | -291% |
| Financial income | 75/76B | €65 | €51 | -€14 | -22.0% |
| Recurring financial income | 75 | €65 | €51 | -€14 | -22.0% |
| Financial charges | 65/66B | €4,790 | €4,386 | -€404 | -8.4% |
| Recurring financial charges | 65 | €4,790 | €4,386 | -€404 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | -€16,522 | -€50,419 | -€33,897 | -205% |
| Transfer from deferred taxes | 780 | €1,958 | €1,958 | = | 0.0% |
| Income taxes | 67/77 | €486 | €516 | +€31 | +6.3% |
| Profit (loss) for the period | 9904 | -€15,050 | -€48,978 | -€33,927 | -225% |
| Transfer from tax-exempt reserves | 789 | €3,802 | €3,802 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,248 | -€45,176 | -€33,927 | -302% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.