KEY CONSULT: 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.
KEY CONSULT
Largest movements
- Receivables within one year +€24,359
up €24,359 (+169.4%), from €14,378 to €38,737
of which Trade receivables: +€25,650
- Tangible fixed assets -€21,555
down €21,555 (-2.4%), from €881,988 to €860,434
of which Land and buildings: -€29,950
- Cash -€13,635
down €13,635 (-71.6%), from €19,032 to €5,397
mainly Debts after one year (-€30,744) and Receivables within one year (-€24,359)
- Other debts +€31,809
up €31,809 (+5.1%), from €624,595 to €656,404
- Debts after one year -€30,744
down €30,744 (-8.0%), from €385,973 to €355,229
- Depreciation -€10,917
down €10,917 (-26.0%), from €42,064 to €31,147
- Financial charges -€8,749
down €8,749 (-17.2%), from €50,742 to €41,992
- Gross operating margin -€5,256
down €5,256 (-6.7%), from €78,696 to €73,440
- Other operating charges +€3,258
up €3,258 (+76.7%), from €4,247 to €7,505
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 | €917,939 | €907,368 | -€10,571 | -1.2% |
| Fixed assets | 21/28 | €883,348 | €861,794 | -€21,555 | -2.4% |
| Tangible fixed assets | 22/27 | €881,988 | €860,434 | -€21,555 | -2.4% |
| Land and buildings | 22 | €881,188 | €851,238 | -€29,950 | -3.4% |
| Plant, machinery and equipment | 23 | €800 | €200 | -€600 | -75.0% |
| Furniture and vehicles | 24 | - | €8,996 | +€8,996 | |
| Financial fixed assets | 28 | €1,360 | €1,360 | = | 0.0% |
| Current assets | 29/58 | €34,590 | €45,574 | +€10,984 | +31.8% |
| Amounts receivable within one year | 40/41 | €14,378 | €38,737 | +€24,359 | +169.4% |
| Trade receivables | 40 | €12,100 | €37,750 | +€25,650 | +212.0% |
| Other amounts receivable | 41 | €2,278 | €987 | -€1,291 | -56.7% |
| Cash at bank and in hand | 54/58 | €19,032 | €5,397 | -€13,635 | -71.6% |
| Deferred charges and accrued income | 490/1 | €1,180 | €1,439 | +€259 | +22.0% |
| Total equity and liabilities | 10/49 | €917,939 | €907,368 | -€10,571 | -1.2% |
| Equity | 10/15 | -€205,630 | -€208,199 | -€2,570 | -1.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €258,134 | €249,134 | -€9,000 | -3.5% |
| Tax-exempt reserves | 132 | €137,996 | €128,996 | -€9,000 | -6.5% |
| Distributable reserves | 133 | €120,138 | €120,138 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€476,163 | -€469,733 | +€6,430 | +1.4% |
| Provisions and deferred taxes | 16 | €71,057 | €66,423 | -€4,634 | -6.5% |
| Deferred taxes | 168 | €71,057 | €66,423 | -€4,634 | -6.5% |
| Amounts payable | 17/49 | €1,052,511 | €1,049,144 | -€3,367 | -0.3% |
| Amounts payable after more than one year | 17 | €385,973 | €355,229 | -€30,744 | -8.0% |
| Financial debts | 170/4 | €385,973 | €355,229 | -€30,744 | -8.0% |
| Amounts payable within one year | 42/48 | €666,538 | €693,916 | +€27,377 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €30,119 | €30,744 | +€626 | +2.1% |
| Financial debts | 43 | €6,165 | €47 | -€6,118 | -99.2% |
| Credit institutions | 430/8 | €44 | €47 | +€3 | +6.8% |
| Other loans | 439 | €6,121 | €0 | -€6,121 | -100.0% |
| Trade debts | 44 | €5,660 | €6,720 | +€1,060 | +18.7% |
| Suppliers | 440/4 | €5,660 | €6,720 | +€1,060 | +18.7% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €624,595 | €656,404 | +€31,809 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,064 | €31,147 | -€10,917 | -26.0% |
| Other operating charges | 640/8 | €4,247 | €7,505 | +€3,258 | +76.7% |
| Gross operating margin | 9900 | €78,696 | €73,440 | -€5,256 | -6.7% |
| Operating profit (loss) | 9901 | €32,386 | €34,788 | +€2,403 | +7.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €50,742 | €41,992 | -€8,749 | -17.2% |
| Recurring financial charges | 65 | €50,742 | €41,992 | -€8,749 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,356 | -€7,204 | +€11,152 | +60.8% |
| Transfer from deferred taxes | 780 | €4,634 | €4,634 | = | 0.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€13,722 | -€2,570 | +€11,152 | +81.3% |
| Transfer from tax-exempt reserves | 789 | €9,000 | €9,000 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,722 | €6,430 | +€11,152 |
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 5 October 2026 via checked.be.