Level Five: 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.
Level Five
Largest movements
- Cash -€13,223
down €13,223 (-32.6%), from €40,610 to €27,387
mainly Accrued charges and deferred income (-€19,515) and Deferred charges and accrued income (-€6,772)
- Tangible fixed assets -€7,895
down €7,895 (-14.4%), from €54,912 to €47,017
of which Land and buildings: -€7,495
- Receivables within one year -€7,742
down €7,742 (-40.0%), from €19,339 to €11,597
of which Trade receivables: -€7,692
- Deferred charges and accrued income +€6,772
new in 2025: €6,772
- Accrued charges and deferred income -€19,515
no longer reported in 2025 (was €19,515)
- Investment grants -€6,324
down €6,324 (-13.9%), from €45,593 to €39,269
- Profit (loss) carried forward +€3,420
up €3,420 (+8.3%), from €41,023 to €44,443
- Purchases and services -€22,774
down €22,774 (-11.5%), from €198,012 to €175,239
- Gross operating margin +€18,658
up €18,658 (+41.4%), from €45,096 to €63,754
- Staff costs +€9,584
up €9,584 (+23.3%), from €41,066 to €50,650
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 | €119,032 | €96,945 | -€22,087 | -18.6% |
| Fixed assets | 21/28 | €59,084 | €51,189 | -€7,895 | -13.4% |
| Tangible fixed assets | 22/27 | €54,912 | €47,017 | -€7,895 | -14.4% |
| Land and buildings | 22 | €54,112 | €46,617 | -€7,495 | -13.9% |
| Plant, machinery and equipment | 23 | €800 | €400 | -€400 | -50.0% |
| Financial fixed assets | 28 | €4,172 | €4,172 | = | 0.0% |
| Current assets | 29/58 | €59,948 | €45,756 | -€14,193 | -23.7% |
| Amounts receivable within one year | 40/41 | €19,339 | €11,597 | -€7,742 | -40.0% |
| Trade receivables | 40 | €19,289 | €11,597 | -€7,692 | -39.9% |
| Other amounts receivable | 41 | €50 | - | -€50 | |
| Cash at bank and in hand | 54/58 | €40,610 | €27,387 | -€13,223 | -32.6% |
| Deferred charges and accrued income | 490/1 | - | €6,772 | +€6,772 | |
| Total equity and liabilities | 10/49 | €119,032 | €96,945 | -€22,087 | -18.6% |
| Equity | 10/15 | €86,616 | €83,711 | -€2,904 | -3.4% |
| Profit (loss) carried forward | 14 | €41,023 | €44,443 | +€3,420 | +8.3% |
| Investment grants | 15 | €45,593 | €39,269 | -€6,324 | -13.9% |
| Amounts payable | 17/49 | €32,417 | €13,233 | -€19,183 | -59.2% |
| Amounts payable within one year | 42/48 | €12,901 | €13,233 | +€332 | +2.6% |
| Trade debts | 44 | €2,431 | €4,323 | +€1,892 | +77.8% |
| Suppliers | 440/4 | €2,431 | €4,323 | +€1,892 | +77.8% |
| Taxes, remuneration and social security | 45 | €6,776 | €5,216 | -€1,560 | -23.0% |
| Taxes | 450/3 | €685 | €486 | -€199 | -29.0% |
| Remuneration and social security | 454/9 | €6,090 | €4,730 | -€1,361 | -22.3% |
| Accrued charges and deferred income | 492/3 | €19,515 | - | -€19,515 | |
| Turnover | 70 | €184,199 | €184,476 | +€277 | +0.2% |
| Non-recurring operating income | 76A | €70 | - | -€70 | |
| Goods, raw materials, services and sundry goods | 60/61 | €198,012 | €175,239 | -€22,774 | -11.5% |
| Remuneration, social security and pensions | 62 | €41,066 | €50,650 | +€9,584 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,634 | €7,895 | -€739 | -8.6% |
| Other operating charges | 640/8 | - | €1,742 | +€1,742 | |
| Gross operating margin | 9900 | €45,096 | €63,754 | +€18,658 | +41.4% |
| Operating profit (loss) | 9901 | -€4,604 | €3,467 | +€8,071 | |
| Financial income | 75/76B | €12 | €49 | +€37 | +305.5% |
| Recurring financial income | 75 | €12 | €49 | +€37 | +305.5% |
| Financial charges | 65/66B | €111 | €97 | -€15 | -13.1% |
| Recurring financial charges | 65 | €111 | €97 | -€15 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,703 | €3,420 | +€8,123 | |
| Income taxes | 67/77 | €1,636 | - | -€1,636 | |
| Profit (loss) for the period | 9904 | -€6,339 | €3,420 | +€9,759 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,339 | €3,420 | +€9,759 |
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 29 September 2026 via checked.be.