LOCK-ATIONS: 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.
LOCK-ATIONS
Largest movements
- Cash +€339,592
up €339,592 (+1355.6%), from €25,051 to €364,642
mainly Other debts (+€380,289) and Debts after one year (+€299,645)
- Tangible fixed assets -€100,310
down €100,310 (-15.8%), from €633,554 to €533,244
of which Land and buildings: -€102,722
- Provisions -€387,352
down €387,352 (-97.0%), from €399,531 to €12,179
of which Provisions for liabilities and charges: -€385,660
- Other debts +€380,289
new in 2025: €380,289
- Debts after one year +€299,645
up €299,645 (+96.0%), from €312,090 to €611,735
- Tax, wage and social debts +€78,570
up €78,570 (+1128.4%), from €6,963 to €85,533
of which Taxes: +€57,166
- Profit (loss) carried forward -€46,140
down €46,140 (-40.1%), from -€115,120 to -€161,260
- Write-downs -€385,660
new in 2025: -€385,660
- Provisions +€385,660
new in 2025: €385,660
- Gross operating margin -€9,097
down €9,097 (-10.3%), from €88,476 to €79,379
- Other operating charges -€2,274
down €2,274 (-21.5%), from €10,595 to €8,320
- Depreciation -€1,602
down €1,602 (-1.5%), from €104,592 to €102,990
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 | €801,528 | €1,040,246 | +€238,718 | +29.8% |
| Fixed assets | 21/28 | €641,054 | €533,244 | -€107,810 | -16.8% |
| Tangible fixed assets | 22/27 | €633,554 | €533,244 | -€100,310 | -15.8% |
| Land and buildings | 22 | €613,754 | €511,032 | -€102,722 | -16.7% |
| Plant, machinery and equipment | 23 | - | €2,412 | +€2,412 | |
| Assets under construction and advance payments | 27 | €19,800 | €19,800 | = | 0.0% |
| Financial fixed assets | 28 | €7,500 | - | -€7,500 | |
| Current assets | 29/58 | €160,474 | €507,003 | +€346,528 | +215.9% |
| Amounts receivable within one year | 40/41 | €135,424 | €142,360 | +€6,936 | +5.1% |
| Trade receivables | 40 | - | €12,519 | +€12,519 | |
| Other amounts receivable | 41 | €135,424 | €129,841 | -€5,583 | -4.1% |
| Cash at bank and in hand | 54/58 | €25,051 | €364,642 | +€339,592 | +1355.6% |
| Total equity and liabilities | 10/49 | €801,528 | €1,040,246 | +€238,718 | +29.8% |
| Equity | 10/15 | -€30,965 | -€81,052 | -€50,087 | -161.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €22,655 | €18,709 | -€3,947 | -17.4% |
| Non-distributable reserves | 130/1 | €2,701 | €2,701 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,701 | €2,701 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,954 | €16,008 | -€3,947 | -19.8% |
| Profit (loss) carried forward | 14 | -€115,120 | -€161,260 | -€46,140 | -40.1% |
| Provisions and deferred taxes | 16 | €399,531 | €12,179 | -€387,352 | -97.0% |
| Provisions for liabilities and charges | 160/5 | €385,660 | - | -€385,660 | |
| Pensions and similar obligations | 160 | €385,660 | - | -€385,660 | |
| Deferred taxes | 168 | €13,870 | €12,179 | -€1,691 | -12.2% |
| Amounts payable | 17/49 | €432,962 | €1,109,119 | +€676,157 | +156.2% |
| Amounts payable after more than one year | 17 | €312,090 | €611,735 | +€299,645 | +96.0% |
| Financial debts | 170/4 | €312,090 | €611,735 | +€299,645 | +96.0% |
| Amounts payable within one year | 42/48 | €120,873 | €497,384 | +€376,512 | +311.5% |
| Current portion of amounts payable after more than one year | 42 | €60,473 | €14,409 | -€46,064 | -76.2% |
| Trade debts | 44 | €53,437 | €17,153 | -€36,284 | -67.9% |
| Suppliers | 440/4 | €53,437 | €17,153 | -€36,284 | -67.9% |
| Taxes, remuneration and social security | 45 | €6,963 | €85,533 | +€78,570 | +1128.4% |
| Taxes | 450/3 | €6,963 | €64,129 | +€57,166 | +821.0% |
| Remuneration and social security | 454/9 | - | €21,404 | +€21,404 | |
| Other amounts payable | 47/48 | - | €380,289 | +€380,289 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,592 | €102,990 | -€1,602 | -1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€385,660 | -€385,660 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €385,660 | +€385,660 | |
| Other operating charges | 640/8 | €10,595 | €8,320 | -€2,274 | -21.5% |
| Gross operating margin | 9900 | €88,476 | €79,379 | -€9,097 | -10.3% |
| Operating profit (loss) | 9901 | -€26,711 | -€31,931 | -€5,220 | -19.5% |
| Financial income | 75/76B | €1,179 | €8 | -€1,171 | -99.3% |
| Recurring financial income | 75 | €1,179 | €8 | -€1,171 | -99.3% |
| Financial charges | 65/66B | €10,479 | €10,138 | -€341 | -3.3% |
| Recurring financial charges | 65 | €10,479 | €10,138 | -€341 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | -€36,011 | -€42,062 | -€6,050 | -16.8% |
| Transfer from deferred taxes | 780 | €1,691 | €1,691 | = | 0.0% |
| Income taxes | 67/77 | €22 | - | -€22 | |
| Profit (loss) for the period | 9904 | -€34,342 | -€40,370 | -€6,028 | -17.6% |
| Transfer from tax-exempt reserves | 789 | €3,947 | €3,947 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,395 | -€36,423 | -€6,028 | -19.8% |
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 1 October 2026 via checked.be.