ISABELLE PIROTTE: 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.
ISABELLE PIROTTE
Largest movements
- Tangible fixed assets -€30,306
down €30,306 (-29.0%), from €104,631 to €74,325
of which Land and buildings: -€28,476
- Receivables within one year +€15,028
up €15,028 (+485%), from €3,101 to €18,128
- Cash -€2,734
down €2,734 (-16.9%), from €16,150 to €13,417
mainly Debts after one year (-€35,716) and Other debts (-€27,496)
- Profit (loss) carried forward +€40,193
up €40,193 (+14.1%), from -€284,422 to -€244,230
- Debts after one year -€35,716
down €35,716 (-34.7%), from €102,995 to €67,279
- Other debts -€27,496
down €27,496 (-11.4%), from €242,206 to €214,710
- Tax, wage and social debts +€2,556
up €2,556 (+43.7%), from €5,851 to €8,407
- Current portion of long-term debt +€1,463
up €1,463 (+4.3%), from €34,253 to €35,716
- Gross operating margin +€50,083
up €50,083 (+164%), from €30,607 to €80,690
- Financial charges -€2,592
down €2,592 (-31.7%), from €8,178 to €5,586
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 | €123,882 | €105,870 | -€18,012 | -14.5% |
| Fixed assets | 21/28 | €104,631 | €74,325 | -€30,306 | -29.0% |
| Tangible fixed assets | 22/27 | €104,631 | €74,325 | -€30,306 | -29.0% |
| Land and buildings | 22 | €100,443 | €71,967 | -€28,476 | -28.4% |
| Plant, machinery and equipment | 23 | €116 | - | -€116 | |
| Furniture and vehicles | 24 | €4,072 | €2,358 | -€1,714 | -42.1% |
| Current assets | 29/58 | €19,251 | €31,545 | +€12,294 | +63.9% |
| Amounts receivable within one year | 40/41 | €3,101 | €18,128 | +€15,028 | +485% |
| Trade receivables | 40 | €3,101 | €18,128 | +€15,028 | +485% |
| Cash at bank and in hand | 54/58 | €16,150 | €13,417 | -€2,734 | -16.9% |
| Total equity and liabilities | 10/49 | €123,882 | €105,870 | -€18,012 | -14.5% |
| Equity | 10/15 | -€261,422 | -€221,230 | +€40,193 | +15.4% |
| Contributions | 10/11 | €23,000 | €23,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€284,422 | -€244,230 | +€40,193 | +14.1% |
| Amounts payable | 17/49 | €385,305 | €327,100 | -€58,205 | -15.1% |
| Amounts payable after more than one year | 17 | €102,995 | €67,279 | -€35,716 | -34.7% |
| Financial debts | 170/4 | €102,995 | €67,279 | -€35,716 | -34.7% |
| Amounts payable within one year | 42/48 | €282,310 | €259,821 | -€22,489 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €34,253 | €35,716 | +€1,463 | +4.3% |
| Trade debts | 44 | - | €988 | +€988 | |
| Suppliers | 440/4 | - | €988 | +€988 | |
| Taxes, remuneration and social security | 45 | €5,851 | €8,407 | +€2,556 | +43.7% |
| Taxes | 450/3 | €5,851 | €8,407 | +€2,556 | +43.7% |
| Other amounts payable | 47/48 | €242,206 | €214,710 | -€27,496 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,309 | €30,306 | -€3 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €700 | - | -€700 | |
| Other operating charges | 640/8 | €4,415 | €4,617 | +€202 | +4.6% |
| Non-recurring operating charges | 66A | €274 | - | -€274 | |
| Gross operating margin | 9900 | €30,607 | €80,690 | +€50,083 | +164% |
| Operating profit (loss) | 9901 | -€5,091 | €45,767 | +€50,858 | |
| Financial income | 75/76B | €3 | €11 | +€8 | +239% |
| Recurring financial income | 75 | €3 | €11 | +€8 | +239% |
| Financial charges | 65/66B | €8,178 | €5,586 | -€2,592 | -31.7% |
| Recurring financial charges | 65 | €8,178 | €5,586 | -€2,592 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | -€13,266 | €40,193 | +€53,458 | |
| Profit (loss) for the period | 9904 | -€13,266 | €40,193 | +€53,458 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,266 | €40,193 | +€53,458 |
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 13 October 2026 via checked.be.