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 +€99,099
up €99,099 (+30878.6%), from €321 to €99,420
- Tangible fixed assets -€44,760
down €44,760 (-4.9%), from €907,306 to €862,546
of which Land and buildings: -€27,174
- Cash +€26,542
up €26,542 (+172.2%), from €15,418 to €41,959
mainly Other debts (+€91,849) and Accrued charges and deferred income (+€57,261)
- Other debts +€91,849
up €91,849 (+3.8%), from €2.4m to €2.5m
- Accrued charges and deferred income +€57,261
up €57,261 (+105.4%), from €54,303 to €111,565
- Profit (loss) carried forward -€52,107
down €52,107 (-15.7%), from -€331,735 to -€383,841
- Depreciation -€121,671
down €121,671 (-73.1%), from €166,431 to €44,760
- Gross operating margin +€43,136
up €43,136 (+243.4%), from €17,721 to €60,857
- Financial charges +€12,900
up €12,900 (+26.7%), from €48,308 to €61,208
- Other operating charges +€7,393
up €7,393 (+173.3%), from €4,267 to €11,660
- Financial income +€1,844
up €1,844 (+26955.3%), from €7 to €1,851
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 | €2,253,843 | €2,336,455 | +€82,612 | +3.7% |
| Fixed assets | 21/28 | €1,010,056 | €965,296 | -€44,760 | -4.4% |
| Tangible fixed assets | 22/27 | €907,306 | €862,546 | -€44,760 | -4.9% |
| Land and buildings | 22 | €855,511 | €828,337 | -€27,174 | -3.2% |
| Plant, machinery and equipment | 23 | €15,496 | €10,239 | -€5,257 | -33.9% |
| Furniture and vehicles | 24 | €36,299 | €23,970 | -€12,329 | -34.0% |
| Financial fixed assets | 28 | €102,750 | €102,750 | = | 0.0% |
| Current assets | 29/58 | €1,243,787 | €1,371,159 | +€127,372 | +10.2% |
| Stocks and contracts in progress | 3 | €1,227,950 | €1,227,950 | = | 0.0% |
| Stocks | 30/36 | €1,227,950 | €1,227,950 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €321 | €99,420 | +€99,099 | +30878.6% |
| Other amounts receivable | 41 | €321 | €99,420 | +€99,099 | +30878.6% |
| Cash at bank and in hand | 54/58 | €15,418 | €41,959 | +€26,542 | +172.2% |
| Deferred charges and accrued income | 490/1 | €99 | €1,830 | +€1,732 | +1758.2% |
| Total equity and liabilities | 10/49 | €2,253,843 | €2,336,455 | +€82,612 | +3.7% |
| Equity | 10/15 | -€235,962 | -€290,354 | -€54,393 | -23.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €77,173 | €74,887 | -€2,286 | -3.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €75,313 | €73,027 | -€2,286 | -3.0% |
| Profit (loss) carried forward | 14 | -€331,735 | -€383,841 | -€52,107 | -15.7% |
| Provisions and deferred taxes | 16 | €25,104 | €24,342 | -€762 | -3.0% |
| Deferred taxes | 168 | €25,104 | €24,342 | -€762 | -3.0% |
| Amounts payable | 17/49 | €2,464,700 | €2,602,467 | +€137,767 | +5.6% |
| Amounts payable within one year | 42/48 | €2,410,397 | €2,490,902 | +€80,506 | +3.3% |
| Trade debts | 44 | €15,385 | €4,043 | -€11,342 | -73.7% |
| Suppliers | 440/4 | €15,385 | €4,043 | -€11,342 | -73.7% |
| Taxes, remuneration and social security | 45 | €214 | €213 | -€1 | -0.7% |
| Taxes | 450/3 | €214 | €213 | -€1 | -0.7% |
| Other amounts payable | 47/48 | €2,394,798 | €2,486,647 | +€91,849 | +3.8% |
| Accrued charges and deferred income | 492/3 | €54,303 | €111,565 | +€57,261 | +105.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,431 | €44,760 | -€121,671 | -73.1% |
| Other operating charges | 640/8 | €4,267 | €11,660 | +€7,393 | +173.3% |
| Gross operating margin | 9900 | €17,721 | €60,857 | +€43,136 | +243.4% |
| Operating profit (loss) | 9901 | -€152,976 | €4,438 | +€157,413 | |
| Financial income | 75/76B | €7 | €1,851 | +€1,844 | +26955.3% |
| Recurring financial income | 75 | €7 | €1,851 | +€1,844 | +26955.3% |
| Financial charges | 65/66B | €48,308 | €61,208 | +€12,900 | +26.7% |
| Recurring financial charges | 65 | €48,308 | €61,208 | +€12,900 | +26.7% |
| Profit (loss) for the period before taxes | 9903 | -€201,277 | -€54,920 | +€146,357 | +72.7% |
| Transfer from deferred taxes | 780 | €44 | €762 | +€718 | +1642.9% |
| Income taxes | 67/77 | €216 | €235 | +€19 | +8.6% |
| Profit (loss) for the period | 9904 | -€201,450 | -€54,393 | +€147,057 | +73.0% |
| Transfer from tax-exempt reserves | 789 | €131 | €2,286 | +€2,155 | +1642.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€201,319 | -€52,107 | +€149,212 | +74.1% |
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 4 October 2026 via checked.be.