ITEMS: 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.
ITEMS
Largest movements
- Cash +€37,294
up €37,294 (+182.1%), from €20,482 to €57,776
mainly Depreciation (+€34,547) and Receivables within one year (+€22,921)
- Tangible fixed assets -€29,816
down €29,816 (-20.0%), from €149,216 to €119,400
of which Land and buildings: -€29,348
- Receivables within one year -€22,921
down €22,921 (-40.2%), from €56,993 to €34,072
of which Trade receivables: -€19,459
- Debts after one year -€8,750
down €8,750 (-14.1%), from €62,250 to €53,500
- Other debts -€8,005
down €8,005 (-38.7%), from €20,694 to €12,689
- Reserves +€6,556
up €6,556 (+7.0%), from €94,232 to €100,788
of which Distributable reserves: +€6,556
- Current portion of long-term debt -€2,917
down €2,917 (-25.0%), from €11,667 to €8,750
- Gross operating margin -€11,512
down €11,512 (-16.6%), from €69,198 to €57,686
- Depreciation -€7,594
down €7,594 (-18.0%), from €42,141 to €34,547
- Taxes -€1,250
down €1,250 (-19.9%), from €6,278 to €5,029
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 | €228,311 | €213,666 | -€14,646 | -6.4% |
| Fixed assets | 21/28 | €149,216 | €119,400 | -€29,816 | -20.0% |
| Tangible fixed assets | 22/27 | €149,216 | €119,400 | -€29,816 | -20.0% |
| Land and buildings | 22 | €130,239 | €100,891 | -€29,348 | -22.5% |
| Plant, machinery and equipment | 23 | €1,450 | €1,158 | -€292 | -20.1% |
| Furniture and vehicles | 24 | €17,527 | €17,351 | -€176 | -1.0% |
| Current assets | 29/58 | €79,096 | €94,266 | +€15,170 | +19.2% |
| Amounts receivable within one year | 40/41 | €56,993 | €34,072 | -€22,921 | -40.2% |
| Trade receivables | 40 | €53,361 | €33,902 | -€19,459 | -36.5% |
| Other amounts receivable | 41 | €3,632 | €170 | -€3,462 | -95.3% |
| Cash at bank and in hand | 54/58 | €20,482 | €57,776 | +€37,294 | +182.1% |
| Deferred charges and accrued income | 490/1 | €1,621 | €2,417 | +€797 | +49.1% |
| Total equity and liabilities | 10/49 | €228,311 | €213,666 | -€14,646 | -6.4% |
| Equity | 10/15 | €114,232 | €120,788 | +€6,556 | +5.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €94,232 | €100,788 | +€6,556 | +7.0% |
| Tax-exempt reserves | 132 | €952 | €952 | = | 0.0% |
| Distributable reserves | 133 | €93,280 | €99,836 | +€6,556 | +7.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €114,080 | €92,878 | -€21,202 | -18.6% |
| Amounts payable after more than one year | 17 | €62,250 | €53,500 | -€8,750 | -14.1% |
| Financial debts | 170/4 | €62,250 | €53,500 | -€8,750 | -14.1% |
| Amounts payable within one year | 42/48 | €45,905 | €34,341 | -€11,564 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €11,667 | €8,750 | -€2,917 | -25.0% |
| Financial debts | 43 | €1,507 | €840 | -€667 | -44.3% |
| Credit institutions | 430/8 | €1,507 | €840 | -€667 | -44.3% |
| Trade debts | 44 | €1,290 | €1,795 | +€505 | +39.1% |
| Suppliers | 440/4 | €1,290 | €1,795 | +€505 | +39.1% |
| Taxes, remuneration and social security | 45 | €10,747 | €10,267 | -€480 | -4.5% |
| Taxes | 450/3 | €10,747 | €10,267 | -€480 | -4.5% |
| Other amounts payable | 47/48 | €20,694 | €12,689 | -€8,005 | -38.7% |
| Accrued charges and deferred income | 492/3 | €5,925 | €5,036 | -€888 | -15.0% |
| Non-recurring operating income | 76A | - | €5,509 | +€5,509 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,141 | €34,547 | -€7,594 | -18.0% |
| Other operating charges | 640/8 | €3,214 | €2,865 | -€349 | -10.8% |
| Gross operating margin | 9900 | €69,198 | €57,686 | -€11,512 | -16.6% |
| Operating profit (loss) | 9901 | €23,843 | €20,274 | -€3,569 | -15.0% |
| Financial income | 75/76B | €0 | €0 | +€0 | +875.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +875.0% |
| Financial charges | 65/66B | €7,228 | €7,024 | -€204 | -2.8% |
| Recurring financial charges | 65 | €7,228 | €7,024 | -€204 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €16,615 | €13,251 | -€3,364 | -20.2% |
| Income taxes | 67/77 | €6,278 | €5,029 | -€1,250 | -19.9% |
| Profit (loss) for the period | 9904 | €10,337 | €8,222 | -€2,115 | -20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €10,337 | €8,222 | -€2,115 | -20.5% |
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.