Le Début: 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.
Le Début
Largest movements
- Tangible fixed assets -€10,008
down €10,008 (-3.4%), from €291,659 to €281,651
- Debts after one year -€13,577
down €13,577 (-5.8%), from €234,587 to €221,010
- Reserves +€4,088
new in 2025: €4,088
- Gross operating margin +€13,789
up €13,789 (+89.1%), from €15,483 to €29,272
- Depreciation +€4,976
up €4,976 (+70.0%), from €7,105 to €12,081
- Financial charges +€1,210
up €1,210 (+14.4%), from €8,392 to €9,602
- Taxes +€1,022
new in 2025: €1,022
- Other operating charges +€753
up €753 (+88.0%), from €856 to €1,609
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 | €303,774 | €294,697 | -€9,077 | -3.0% |
| Fixed assets | 21/28 | €291,659 | €281,651 | -€10,008 | -3.4% |
| Tangible fixed assets | 22/27 | €291,659 | €281,651 | -€10,008 | -3.4% |
| Land and buildings | 22 | €291,659 | €281,651 | -€10,008 | -3.4% |
| Current assets | 29/58 | €12,115 | €13,045 | +€930 | +7.7% |
| Cash at bank and in hand | 54/58 | €12,115 | €13,045 | +€930 | +7.7% |
| Total equity and liabilities | 10/49 | €303,774 | €294,697 | -€9,077 | -3.0% |
| Equity | 10/15 | €36,130 | €41,088 | +€4,958 | +13.7% |
| Contributions | 10/11 | €37,000 | €37,000 | = | 0.0% |
| Reserves | 13 | - | €4,088 | +€4,088 | |
| Distributable reserves | 133 | - | €4,088 | +€4,088 | |
| Profit (loss) carried forward | 14 | -€870 | €0 | +€870 | |
| Amounts payable | 17/49 | €267,644 | €253,609 | -€14,036 | -5.2% |
| Amounts payable after more than one year | 17 | €234,587 | €221,010 | -€13,577 | -5.8% |
| Financial debts | 170/4 | €234,587 | €221,010 | -€13,577 | -5.8% |
| Amounts payable within one year | 42/48 | €33,058 | €32,599 | -€459 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €13,058 | €13,577 | +€519 | +4.0% |
| Taxes, remuneration and social security | 45 | - | €1,022 | +€1,022 | |
| Taxes | 450/3 | - | €1,022 | +€1,022 | |
| Other amounts payable | 47/48 | €20,000 | €18,000 | -€2,000 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,105 | €12,081 | +€4,976 | +70.0% |
| Other operating charges | 640/8 | €856 | €1,609 | +€753 | +88.0% |
| Gross operating margin | 9900 | €15,483 | €29,272 | +€13,789 | +89.1% |
| Operating profit (loss) | 9901 | €7,522 | €15,582 | +€8,060 | +107.2% |
| Financial charges | 65/66B | €8,392 | €9,602 | +€1,210 | +14.4% |
| Recurring financial charges | 65 | €8,392 | €9,602 | +€1,210 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | -€870 | €5,980 | +€6,851 | |
| Income taxes | 67/77 | - | €1,022 | +€1,022 | |
| Profit (loss) for the period | 9904 | -€870 | €4,958 | +€5,829 | |
| Profit (loss) for the period to be appropriated | 9905 | -€870 | €4,958 | +€5,829 |
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.