LOCKDOWN: 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.
LOCKDOWN
Largest movements
- Tangible fixed assets -€95,448
down €95,448 (-16.3%), from €584,167 to €488,718
of which Other tangible fixed assets: -€91,474
- Cash +€15,525
up €15,525 (+21.3%), from €72,957 to €88,482
mainly Depreciation (+€95,448) and Trade debts (+€17,067)
- Other debts -€33,850
down €33,850 (-30.0%), from €112,832 to €78,982
- Revaluation surpluses -€33,675
down €33,675 (-15.4%), from €219,233 to €185,558
- Reserves +€33,675
up €33,675 (+28.2%), from €119,513 to €153,188
- Current portion of long-term debt -€21,802
down €21,802 (-36.4%), from €59,926 to €38,124
- Trade debts +€17,067
up €17,067 (+85.5%), from €19,966 to €37,034
- Gross operating margin -€64,048
down €64,048 (-23.1%), from €277,561 to €213,513
- Staff costs -€41,635
down €41,635 (-26.5%), from €157,281 to €115,647
- Other operating charges -€7,582
down €7,582 (-91.5%), from €8,285 to €702
- Financial charges -€2,928
down €2,928 (-17.0%), from €17,228 to €14,300
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 | €689,286 | €616,265 | -€73,021 | -10.6% |
| Fixed assets | 21/28 | €584,167 | €488,718 | -€95,448 | -16.3% |
| Tangible fixed assets | 22/27 | €584,167 | €488,718 | -€95,448 | -16.3% |
| Plant, machinery and equipment | 23 | €7,119 | €5,398 | -€1,722 | -24.2% |
| Furniture and vehicles | 24 | €4,245 | €1,992 | -€2,253 | -53.1% |
| Other tangible fixed assets | 26 | €572,803 | €481,329 | -€91,474 | -16.0% |
| Current assets | 29/58 | €105,119 | €127,546 | +€22,428 | +21.3% |
| Stocks and contracts in progress | 3 | €622 | €839 | +€216 | +34.8% |
| Stocks | 30/36 | €622 | €839 | +€216 | +34.8% |
| Amounts receivable within one year | 40/41 | €30,897 | €35,107 | +€4,211 | +13.6% |
| Trade receivables | 40 | €26,360 | €28,565 | +€2,205 | +8.4% |
| Other amounts receivable | 41 | €4,536 | €6,543 | +€2,006 | +44.2% |
| Cash at bank and in hand | 54/58 | €72,957 | €88,482 | +€15,525 | +21.3% |
| Deferred charges and accrued income | 490/1 | €643 | €3,119 | +€2,476 | +385% |
| Total equity and liabilities | 10/49 | €689,286 | €616,265 | -€73,021 | -10.6% |
| Equity | 10/15 | €191,906 | €179,170 | -€12,736 | -6.6% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Revaluation surpluses | 12 | €219,233 | €185,558 | -€33,675 | -15.4% |
| Reserves | 13 | €119,513 | €153,188 | +€33,675 | +28.2% |
| Distributable reserves | 133 | €119,513 | €153,188 | +€33,675 | +28.2% |
| Profit (loss) carried forward | 14 | -€160,840 | -€173,576 | -€12,736 | -7.9% |
| Amounts payable | 17/49 | €497,380 | €437,095 | -€60,285 | -12.1% |
| Amounts payable after more than one year | 17 | €206,772 | €210,248 | +€3,476 | +1.7% |
| Financial debts | 170/4 | €206,772 | €210,248 | +€3,476 | +1.7% |
| Amounts payable within one year | 42/48 | €270,918 | €218,571 | -€52,348 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €59,926 | €38,124 | -€21,802 | -36.4% |
| Trade debts | 44 | €19,966 | €37,034 | +€17,067 | +85.5% |
| Suppliers | 440/4 | €19,966 | €37,034 | +€17,067 | +85.5% |
| Advances received on contracts in progress | 46 | €58,878 | €48,405 | -€10,474 | -17.8% |
| Taxes, remuneration and social security | 45 | €19,316 | €16,027 | -€3,289 | -17.0% |
| Taxes | 450/3 | €2,980 | €411 | -€2,569 | -86.2% |
| Remuneration and social security | 454/9 | €16,336 | €15,616 | -€720 | -4.4% |
| Other amounts payable | 47/48 | €112,832 | €78,982 | -€33,850 | -30.0% |
| Accrued charges and deferred income | 492/3 | €19,689 | €8,276 | -€11,413 | -58.0% |
| Remuneration, social security and pensions | 62 | €157,281 | €115,647 | -€41,635 | -26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,700 | €95,448 | +€2,748 | +3.0% |
| Other operating charges | 640/8 | €8,285 | €702 | -€7,582 | -91.5% |
| Gross operating margin | 9900 | €277,561 | €213,513 | -€64,048 | -23.1% |
| Operating profit (loss) | 9901 | €19,294 | €1,715 | -€17,579 | -91.1% |
| Financial income | 75/76B | €18 | €24 | +€6 | +33.1% |
| Recurring financial income | 75 | €18 | €24 | +€6 | +33.1% |
| Financial charges | 65/66B | €17,228 | €14,300 | -€2,928 | -17.0% |
| Recurring financial charges | 65 | €17,228 | €14,300 | -€2,928 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €2,084 | -€12,560 | -€14,644 | |
| Income taxes | 67/77 | €77 | €176 | +€99 | +129% |
| Profit (loss) for the period | 9904 | €2,007 | -€12,736 | -€14,743 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,007 | -€12,736 | -€14,743 |
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 14 October 2026 via checked.be.