L. DEBECKER: 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.
L. DEBECKER
Largest movements
- Financial fixed assets -€200,652
down €200,652 (-100.0%), from €200,652 to €0
- Tangible fixed assets +€162,204
new in 2025: €162,204
- Intangible fixed assets +€138,652
new in 2025: €138,652
- Other debts +€119,043
up €119,043 (+276.5%), from €43,059 to €162,103
- Reserves -€17,377
down €17,377 (-18.3%), from €95,126 to €77,749
of which Distributable reserves: -€17,377
- Depreciation +€11,710
new in 2025: €11,710
- Gross operating margin +€4,948
up €4,948 (+68.1%), from -€7,270 to -€2,322
- Financial charges +€641
up €641 (+22.3%), from €2,872 to €3,514
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 | €201,041 | €302,879 | +€101,838 | +50.7% |
| Fixed assets | 21/28 | €200,652 | €300,855 | +€100,204 | +49.9% |
| Intangible fixed assets | 21 | - | €138,652 | +€138,652 | |
| Tangible fixed assets | 22/27 | - | €162,204 | +€162,204 | |
| Land and buildings | 22 | - | €162,204 | +€162,204 | |
| Financial fixed assets | 28 | €200,652 | €0 | -€200,652 | -100.0% |
| Current assets | 29/58 | €390 | €2,024 | +€1,635 | +419.5% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €390 | €2,024 | +€1,635 | +419.5% |
| Total equity and liabilities | 10/49 | €201,041 | €302,879 | +€101,838 | +50.7% |
| Equity | 10/15 | €157,126 | €139,749 | -€17,377 | -11.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €95,126 | €77,749 | -€17,377 | -18.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €88,926 | €71,549 | -€17,377 | -19.5% |
| Amounts payable | 17/49 | €43,915 | €163,131 | +€119,216 | +271.5% |
| Amounts payable within one year | 42/48 | €43,915 | €163,131 | +€119,216 | +271.5% |
| Taxes, remuneration and social security | 45 | €856 | €1,028 | +€172 | +20.1% |
| Taxes | 450/3 | €856 | €1,028 | +€172 | +20.1% |
| Other amounts payable | 47/48 | €43,059 | €162,103 | +€119,043 | +276.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €11,710 | +€11,710 | |
| Other operating charges | 640/8 | €340 | €409 | +€69 | +20.4% |
| Gross operating margin | 9900 | -€7,270 | -€2,322 | +€4,948 | +68.1% |
| Operating profit (loss) | 9901 | -€7,610 | -€14,441 | -€6,831 | -89.8% |
| Financial income | 75/76B | €27 | €0 | -€27 | -100.0% |
| Recurring financial income | 75 | €27 | €0 | -€27 | -100.0% |
| Financial charges | 65/66B | €2,872 | €3,514 | +€641 | +22.3% |
| Recurring financial charges | 65 | €2,872 | €3,514 | +€641 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | -€10,455 | -€17,955 | -€7,500 | -71.7% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€10,455 | -€17,955 | -€7,500 | -71.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,455 | -€17,955 | -€7,500 | -71.7% |
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.