LA CENSE DES SOURCES: what changed
LA CENSE DES SOURCES
Largest movements
- Financial fixed assets +€314,864
up €314,864 (+69.9%), from €450,300 to €765,164
- Receivables within one year +€89,160
up €89,160 (+576%), from €15,485 to €104,645
of which Trade receivables: +€87,565
- Tangible fixed assets -€51,984
down €51,984 (-16.7%), from €312,028 to €260,045
of which Plant, machinery and equipment: -€36,090
- Other debts +€371,369
up €371,369 (+294%), from €126,465 to €497,834
- Trade debts -€132,288
no longer reported in 2025 (was €132,288)
- Debts after one year +€123,720
up €123,720 (+74.1%), from €166,996 to €290,716
- Current portion of long-term debt +€28,137
up €28,137 (+61.0%), from €46,108 to €74,246
- Tax, wage and social debts -€27,173
down €27,173 (-45.1%), from €60,220 to €33,047
- Gross operating margin -€115,799
down €115,799 (-62.8%), from €184,370 to €68,571
- Taxes -€52,608
down €52,608 (-80.3%), from €65,486 to €12,878
- Financial charges +€11,077
up €11,077 (+201%), from €5,517 to €16,595
- Other operating charges -€4,680
down €4,680 (-82.1%), from €5,699 to €1,019
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €785,666 | €1,133,464 | +€347,798 | +44.3% |
| Fixed assets | 21/28 | €762,328 | €1,025,208 | +€262,880 | +34.5% |
| Tangible fixed assets | 22/27 | €312,028 | €260,045 | -€51,984 | -16.7% |
| Plant, machinery and equipment | 23 | €256,047 | €219,957 | -€36,090 | -14.1% |
| Furniture and vehicles | 24 | €55,981 | €40,087 | -€15,894 | -28.4% |
| Financial fixed assets | 28 | €450,300 | €765,164 | +€314,864 | +69.9% |
| Current assets | 29/58 | €23,338 | €108,256 | +€84,918 | +364% |
| Amounts receivable within one year | 40/41 | €15,485 | €104,645 | +€89,160 | +576% |
| Trade receivables | 40 | €15,485 | €103,051 | +€87,565 | +565% |
| Other amounts receivable | 41 | - | €1,595 | +€1,595 | |
| Cash at bank and in hand | 54/58 | €7,852 | €3,007 | -€4,845 | -61.7% |
| Deferred charges and accrued income | 490/1 | - | €603 | +€603 | |
| Total equity and liabilities | 10/49 | €785,666 | €1,133,464 | +€347,798 | +44.3% |
| Equity | 10/15 | €253,588 | €237,621 | -€15,967 | -6.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Share premium | 1100/10 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €245,528 | €229,561 | -€15,967 | -6.5% |
| Amounts payable | 17/49 | €532,078 | €895,843 | +€363,765 | +68.4% |
| Amounts payable after more than one year | 17 | €166,996 | €290,716 | +€123,720 | +74.1% |
| Financial debts | 170/4 | €166,996 | €290,716 | +€123,720 | +74.1% |
| Amounts payable within one year | 42/48 | €365,082 | €605,127 | +€240,045 | +65.8% |
| Current portion of amounts payable after more than one year | 42 | €46,108 | €74,246 | +€28,137 | +61.0% |
| Trade debts | 44 | €132,288 | - | -€132,288 | |
| Suppliers | 440/4 | €132,288 | - | -€132,288 | |
| Taxes, remuneration and social security | 45 | €60,220 | €33,047 | -€27,173 | -45.1% |
| Taxes | 450/3 | €60,220 | €33,047 | -€27,173 | -45.1% |
| Other amounts payable | 47/48 | €126,465 | €497,834 | +€371,369 | +294% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,408 | €54,142 | +€1,735 | +3.3% |
| Other operating charges | 640/8 | €5,699 | €1,019 | -€4,680 | -82.1% |
| Gross operating margin | 9900 | €184,370 | €68,571 | -€115,799 | -62.8% |
| Operating profit (loss) | 9901 | €126,264 | €13,409 | -€112,855 | -89.4% |
| Financial income | 75/76B | €22 | €96 | +€74 | +331% |
| Recurring financial income | 75 | €22 | €96 | +€74 | +331% |
| Financial charges | 65/66B | €5,517 | €16,595 | +€11,077 | +201% |
| Recurring financial charges | 65 | €5,517 | €16,595 | +€11,077 | +201% |
| Profit (loss) for the period before taxes | 9903 | €120,769 | -€3,089 | -€123,858 | |
| Income taxes | 67/77 | €65,486 | €12,878 | -€52,608 | -80.3% |
| Profit (loss) for the period | 9904 | €55,283 | -€15,967 | -€71,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,283 | -€15,967 | -€71,250 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.