LIKE: what changed
Two financial 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.
LIKE
Largest movements
- Cash -€428,755
down €428,755 (-90.4%), from €474,055 to €45,299
mainly Investment in fixed assets (net) (-€402,526) and Trade debts (-€37,532)
- Tangible fixed assets +€331,448
up €331,448 (+34.0%), from €976,281 to €1.3m
of which Land and buildings: +€343,866
- Receivables within one year +€27,467
up €27,467 (+275%), from €9,983 to €37,451
of which Trade receivables: +€28,601
- Profit (loss) carried forward +€56,930
up €56,930 (+8.4%), from €677,610 to €734,541
- Trade debts -€37,532
down €37,532 (-77.2%), from €48,635 to €11,104
- Reserves -€29,574
down €29,574 (-7.0%), from €424,908 to €395,334
of which Tax-exempt reserves: -€29,574
- Investment grants -€16,067
down €16,067 (-39.5%), from €40,672 to €24,605
- Tax, wage and social debts -€14,723
down €14,723 (-69.7%), from €21,110 to €6,387
- Depreciation +€25,110
up €25,110 (+54.6%), from €45,968 to €71,078
- Taxes -€18,945
down €18,945 (-89.7%), from €21,110 to €2,165
- Gross operating margin -€8,850
down €8,850 (-10.0%), from €88,789 to €79,940
- Financial income +€5,702
up €5,702 (+55.0%), from €10,375 to €16,077
- Other operating charges -€2,366
down €2,366 (-45.6%), from €5,184 to €2,819
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.
Derived cash bridge
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 | €1,460,706 | €1,391,965 | -€68,742 | -4.7% |
| Fixed assets | 21/28 | €976,281 | €1,307,729 | +€331,448 | +34.0% |
| Tangible fixed assets | 22/27 | €976,281 | €1,307,729 | +€331,448 | +34.0% |
| Land and buildings | 22 | €890,664 | €1,234,530 | +€343,866 | +38.6% |
| Plant, machinery and equipment | 23 | €54,742 | €51,775 | -€2,967 | -5.4% |
| Furniture and vehicles | 24 | €30,874 | €21,424 | -€9,450 | -30.6% |
| Current assets | 29/58 | €484,426 | €84,236 | -€400,190 | -82.6% |
| Amounts receivable within one year | 40/41 | €9,983 | €37,451 | +€27,467 | +275% |
| Trade receivables | 40 | €6,690 | €35,291 | +€28,601 | +428% |
| Other amounts receivable | 41 | €3,293 | €2,159 | -€1,134 | -34.4% |
| Cash at bank and in hand | 54/58 | €474,055 | €45,299 | -€428,755 | -90.4% |
| Deferred charges and accrued income | 490/1 | €387 | €1,485 | +€1,098 | +283% |
| Total equity and liabilities | 10/49 | €1,460,706 | €1,391,965 | -€68,742 | -4.7% |
| Equity | 10/15 | €1,153,754 | €1,165,043 | +€11,290 | +1.0% |
| Contributions | 10/11 | €10,564 | €10,564 | = | 0.0% |
| Reserves | 13 | €424,908 | €395,334 | -€29,574 | -7.0% |
| Non-distributable reserves | 130/1 | €52,818 | €52,818 | = | 0.0% |
| Reserves not available under the articles | 1311 | €52,818 | €52,818 | = | 0.0% |
| Tax-exempt reserves | 132 | €314,642 | €285,068 | -€29,574 | -9.4% |
| Distributable reserves | 133 | €57,448 | €57,448 | = | 0.0% |
| Profit (loss) carried forward | 14 | €677,610 | €734,541 | +€56,930 | +8.4% |
| Investment grants | 15 | €40,672 | €24,605 | -€16,067 | -39.5% |
| Provisions and deferred taxes | 16 | €106,930 | €97,072 | -€9,858 | -9.2% |
| Deferred taxes | 168 | €106,930 | €97,072 | -€9,858 | -9.2% |
| Amounts payable | 17/49 | €200,023 | €129,850 | -€70,173 | -35.1% |
| Amounts payable after more than one year | 17 | €113,738 | €107,257 | -€6,482 | -5.7% |
| Financial debts | 170/4 | €113,738 | €107,257 | -€6,482 | -5.7% |
| Amounts payable within one year | 42/48 | €86,284 | €22,593 | -€63,691 | -73.8% |
| Current portion of amounts payable after more than one year | 42 | €6,235 | €4,313 | -€1,921 | -30.8% |
| Trade debts | 44 | €48,635 | €11,104 | -€37,532 | -77.2% |
| Suppliers | 440/4 | €48,635 | €11,104 | -€37,532 | -77.2% |
| Advances received on contracts in progress | 46 | - | €300 | +€300 | |
| Taxes, remuneration and social security | 45 | €21,110 | €6,387 | -€14,723 | -69.7% |
| Taxes | 450/3 | €21,110 | €6,387 | -€14,723 | -69.7% |
| Other amounts payable | 47/48 | €10,304 | €488 | -€9,816 | -95.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,968 | €71,078 | +€25,110 | +54.6% |
| Other operating charges | 640/8 | €5,184 | €2,819 | -€2,366 | -45.6% |
| Gross operating margin | 9900 | €88,789 | €79,940 | -€8,850 | -10.0% |
| Operating profit (loss) | 9901 | €37,637 | €6,043 | -€31,594 | -83.9% |
| Financial income | 75/76B | €10,375 | €16,077 | +€5,702 | +55.0% |
| Recurring financial income | 75 | €10,375 | €16,077 | +€5,702 | +55.0% |
| Financial charges | 65/66B | €3,004 | €2,457 | -€547 | -18.2% |
| Recurring financial charges | 65 | €3,004 | €2,457 | -€547 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €45,008 | €19,663 | -€25,345 | -56.3% |
| Transfer from deferred taxes | 780 | €9,858 | €9,858 | -€0 | 0.0% |
| Income taxes | 67/77 | €21,110 | €2,165 | -€18,945 | -89.7% |
| Profit (loss) for the period | 9904 | €33,756 | €27,356 | -€6,400 | -19.0% |
| Transfer from tax-exempt reserves | 789 | €29,574 | €29,574 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €63,330 | €56,930 | -€6,400 | -10.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.