LISTENUP: what changed
LISTENUP
Largest movements
- Tangible fixed assets -€36,748
down €36,748 (-10.5%), from €351,490 to €314,742
of which Land and buildings: -€25,198
- Cash -€27,605
down €27,605 (-93.4%), from €29,570 to €1,965
mainly Debts after one year (-€19,839) and Net result for the year (-€18,996)
- Receivables within one year -€4,416
down €4,416 (-9.3%), from €47,491 to €43,075
of which Other amounts receivable: -€3,368
- Debts after one year -€19,839
down €19,839 (-5.6%), from €351,271 to €331,432
- Profit (loss) carried forward -€18,996
down €18,996 (-71.1%), from -€26,714 to -€45,710
- Trade debts -€15,957
down €15,957 (-61.2%), from €26,073 to €10,117
- Other debts -€9,327
down €9,327 (-100%), from €9,327 to €0
- Gross operating margin -€13,316
down €13,316 (-29.9%), from €44,533 to €31,217
- Financial charges +€7,646
up €7,646 (+152%), from €5,040 to €12,686
- Taxes -€2,109
down €2,109 (-93.9%), from €2,245 to €136
- Depreciation +€656
up €656 (+1.8%), from €36,092 to €36,748
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 | €430,611 | €361,620 | -€68,991 | -16.0% |
| Fixed assets | 21/28 | €351,490 | €314,742 | -€36,748 | -10.5% |
| Tangible fixed assets | 22/27 | €351,490 | €314,742 | -€36,748 | -10.5% |
| Land and buildings | 22 | €323,855 | €298,657 | -€25,198 | -7.8% |
| Plant, machinery and equipment | 23 | €6,738 | €4,591 | -€2,148 | -31.9% |
| Furniture and vehicles | 24 | €20,896 | €11,494 | -€9,402 | -45.0% |
| Current assets | 29/58 | €79,121 | €46,879 | -€32,243 | -40.8% |
| Amounts receivable within one year | 40/41 | €47,491 | €43,075 | -€4,416 | -9.3% |
| Trade receivables | 40 | €18,241 | €17,192 | -€1,048 | -5.7% |
| Other amounts receivable | 41 | €29,251 | €25,883 | -€3,368 | -11.5% |
| Cash at bank and in hand | 54/58 | €29,570 | €1,965 | -€27,605 | -93.4% |
| Deferred charges and accrued income | 490/1 | €2,060 | €1,838 | -€222 | -10.8% |
| Total equity and liabilities | 10/49 | €430,611 | €361,620 | -€68,991 | -16.0% |
| Equity | 10/15 | €16,309 | -€2,687 | -€18,996 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €24,422 | €24,422 | = | 0.0% |
| Distributable reserves | 133 | €24,422 | €24,422 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,714 | -€45,710 | -€18,996 | -71.1% |
| Amounts payable | 17/49 | €414,302 | €364,308 | -€49,995 | -12.1% |
| Amounts payable after more than one year | 17 | €351,271 | €331,432 | -€19,839 | -5.6% |
| Financial debts | 170/4 | €351,271 | €331,432 | -€19,839 | -5.6% |
| Amounts payable within one year | 42/48 | €63,031 | €32,465 | -€30,567 | -48.5% |
| Current portion of amounts payable after more than one year | 42 | €23,840 | €19,839 | -€4,000 | -16.8% |
| Trade debts | 44 | €26,073 | €10,117 | -€15,957 | -61.2% |
| Suppliers | 440/4 | €26,073 | €10,117 | -€15,957 | -61.2% |
| Taxes, remuneration and social security | 45 | €3,792 | €2,509 | -€1,283 | -33.8% |
| Taxes | 450/3 | €3,792 | €2,509 | -€1,283 | -33.8% |
| Other amounts payable | 47/48 | €9,327 | €0 | -€9,327 | -100% |
| Accrued charges and deferred income | 492/3 | - | €411 | +€411 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,092 | €36,748 | +€656 | +1.8% |
| Other operating charges | 640/8 | €1,953 | €2,055 | +€102 | +5.2% |
| Non-recurring operating charges | 66A | €66 | €0 | -€66 | -100% |
| Gross operating margin | 9900 | €44,533 | €31,217 | -€13,316 | -29.9% |
| Operating profit (loss) | 9901 | €6,423 | -€7,586 | -€14,009 | |
| Financial income | 75/76B | €1,596 | €1,412 | -€184 | -11.5% |
| Recurring financial income | 75 | €1,596 | €1,412 | -€184 | -11.5% |
| Financial charges | 65/66B | €5,040 | €12,686 | +€7,646 | +152% |
| Recurring financial charges | 65 | €5,040 | €12,686 | +€7,646 | +152% |
| Profit (loss) for the period before taxes | 9903 | €2,979 | -€18,860 | -€21,839 | |
| Income taxes | 67/77 | €2,245 | €136 | -€2,109 | -93.9% |
| Profit (loss) for the period | 9904 | €734 | -€18,996 | -€19,730 | |
| Profit (loss) for the period to be appropriated | 9905 | €734 | -€18,996 | -€19,730 |
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 1 November 2026 via checked.be.