L375: 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.
L375
Largest movements
- Stocks and contracts +€2.0m
up €2.0m (+10.3%), from €19.5m to €21.6m
- Debts after one year +€6.1m
up €6.1m (+39.4%), from €15.4m to €21.5m
of which Other amounts payable: +€5.5m
- Other debts -€3.6m
down €3.6m (-98.3%), from €3.7m to €61,674
- Trade debts -€433,802
down €433,802 (-46.3%), from €937,001 to €503,199
- Turnover +€341,076
up €341,076 (+405.2%), from €84,181 to €425,257
- Other operating charges +€209,480
up €209,480 (+71.7%), from €292,192 to €501,672
- Financial charges -€48,067
down €48,067 (-74.2%), from €64,783 to €16,717
of which Non-recurring financial charges: -€50,000
- Financial income +€47,262
new in 2025: €47,262
of which Non-recurring financial income: +€46,002
- Services and other goods -€14,692
down €14,692 (-11.5%), from €127,919 to €113,227
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 | €19,647,527 | €21,682,560 | +€2.0m | +10.4% |
| Current assets | 29/58 | €19,647,527 | €21,682,560 | +€2.0m | +10.4% |
| Stocks and contracts in progress | 3 | €19,539,498 | €21,550,098 | +€2.0m | +10.3% |
| Stocks | 30/36 | €19,539,498 | €21,550,098 | +€2.0m | +10.3% |
| Property held for sale | 35 | €19,539,498 | €21,550,098 | +€2.0m | +10.3% |
| Amounts receivable within one year | 40/41 | €95,797 | €76,672 | -€19,125 | -20.0% |
| Trade receivables | 40 | - | €65,169 | +€65,169 | |
| Other amounts receivable | 41 | €95,797 | €11,503 | -€84,294 | -88.0% |
| Cash at bank and in hand | 54/58 | €12,231 | €39,478 | +€27,247 | +222.8% |
| Deferred charges and accrued income | 490/1 | - | €16,311 | +€16,311 | |
| Total equity and liabilities | 10/49 | €19,647,527 | €21,682,560 | +€2.0m | +10.4% |
| Equity | 10/15 | -€738,679 | -€791,817 | -€53,138 | -7.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€758,679 | -€811,817 | -€53,138 | -7.0% |
| Amounts payable | 17/49 | €20,386,205 | €22,474,377 | +€2.1m | +10.2% |
| Amounts payable after more than one year | 17 | €15,438,204 | €21,521,000 | +€6.1m | +39.4% |
| Financial debts | 170/4 | €11,938,204 | €12,500,000 | +€561,796 | +4.7% |
| Credit institutions | 173 | €11,938,204 | €12,500,000 | +€561,796 | +4.7% |
| Other amounts payable | 178/9 | €3,500,000 | €9,021,000 | +€5.5m | +157.7% |
| Amounts payable within one year | 42/48 | €4,614,001 | €564,873 | -€4.0m | -87.8% |
| Trade debts | 44 | €937,001 | €503,199 | -€433,802 | -46.3% |
| Suppliers | 440/4 | €937,001 | €503,199 | -€433,802 | -46.3% |
| Other amounts payable | 47/48 | €3,677,000 | €61,674 | -€3.6m | -98.3% |
| Accrued charges and deferred income | 492/3 | €334,000 | €388,504 | +€54,504 | +16.3% |
| Operating income | 70/76A | €191,236 | €531,216 | +€339,979 | +177.8% |
| Turnover | 70 | €84,181 | €425,257 | +€341,076 | +405.2% |
| Other operating income | 74 | €107,056 | €105,959 | -€1,097 | -1.0% |
| Operating charges | 60/66A | €420,111 | €614,899 | +€194,788 | +46.4% |
| Purchases | 600/8 | €4,779,944 | €860,485 | -€3.9m | -82.0% |
| Change in stocks: decrease (increase) | 609 | -€4,779,944 | -€860,485 | +€3.9m | +82.0% |
| Services and other goods | 61 | €127,919 | €113,227 | -€14,692 | -11.5% |
| Other operating charges | 640/8 | €292,192 | €501,672 | +€209,480 | +71.7% |
| Operating profit (loss) | 9901 | -€228,875 | -€83,683 | +€145,191 | +63.4% |
| Financial income | 75/76B | - | €47,262 | +€47,262 | |
| Recurring financial income | 75 | - | €1,260 | +€1,260 | |
| Income from current assets | 751 | - | €1,260 | +€1,260 | |
| Non-recurring financial income | 76B | - | €46,002 | +€46,002 | |
| Financial charges | 65/66B | €64,783 | €16,717 | -€48,067 | -74.2% |
| Recurring financial charges | 65 | €14,783 | €16,717 | +€1,933 | +13.1% |
| Other financial charges | 652/9 | €14,783 | €16,717 | +€1,933 | +13.1% |
| Non-recurring financial charges | 66B | €50,000 | - | -€50,000 | |
| Profit (loss) for the period before taxes | 9903 | -€293,658 | -€53,138 | +€240,520 | +81.9% |
| Profit (loss) for the period | 9904 | -€293,658 | -€53,138 | +€240,520 | +81.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€293,658 | -€53,138 | +€240,520 | +81.9% |
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 8 October 2026 via checked.be.