LOGIC NATURE: 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.
LOGIC NATURE
Largest movements
- Tangible fixed assets -€55,848
down €55,848 (-33.8%), from €165,281 to €109,433
of which Land and buildings: -€40,272
- Receivables within one year +€41,939
up €41,939 (+143.0%), from €29,322 to €71,261
of which Trade receivables: +€45,885
- Cash -€27,316
down €27,316 (-48.3%), from €56,511 to €29,195
- Stocks and contracts -€7,084
down €7,084 (-70.2%), from €10,088 to €3,004
- Profit (loss) carried forward -€19,453
new in 2025: -€19,453
- Other debts -€19,117
down €19,117 (-88.5%), from €21,592 to €2,475
- Reserves -€17,139
down €17,139 (-8.3%), from €206,217 to €189,077
of which Distributable reserves: -€9,012
- Tax, wage and social debts +€15,232
up €15,232 (+1006.6%), from €1,513 to €16,745
of which Remuneration and social security: +€15,704
- Trade debts -€8,942
down €8,942 (-32.6%), from €27,447 to €18,505
- Gross operating margin -€14,152
down €14,152 (-79.6%), from €17,783 to €3,630
- Depreciation -€3,882
down €3,882 (-17.6%), from €22,056 to €18,174
- Financial charges +€2,135
up €2,135, from -€1,833 to €302
- Other operating charges +€1,170
up €1,170 (+35.8%), from €3,265 to €4,435
- Taxes -€461
down €461 (-72.4%), from €636 to €175
From the 2022 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €263,340 | €213,921 | -€49,419 | -18.8% |
| Fixed assets | 21/28 | €165,281 | €109,433 | -€55,848 | -33.8% |
| Tangible fixed assets | 22/27 | €165,281 | €109,433 | -€55,848 | -33.8% |
| Land and buildings | 22 | €126,091 | €85,819 | -€40,272 | -31.9% |
| Plant, machinery and equipment | 23 | €3,790 | €1,784 | -€2,006 | -52.9% |
| Furniture and vehicles | 24 | €13,181 | €7,946 | -€5,235 | -39.7% |
| Other tangible fixed assets | 26 | €22,219 | €13,884 | -€8,335 | -37.5% |
| Current assets | 29/58 | €98,059 | €104,488 | +€6,429 | +6.6% |
| Stocks and contracts in progress | 3 | €10,088 | €3,004 | -€7,084 | -70.2% |
| Stocks | 30/36 | €10,088 | €3,004 | -€7,084 | -70.2% |
| Amounts receivable within one year | 40/41 | €29,322 | €71,261 | +€41,939 | +143.0% |
| Trade receivables | 40 | €19,090 | €64,975 | +€45,885 | +240.4% |
| Other amounts receivable | 41 | €10,232 | €6,286 | -€3,945 | -38.6% |
| Cash at bank and in hand | 54/58 | €56,511 | €29,195 | -€27,316 | -48.3% |
| Deferred charges and accrued income | 490/1 | €2,139 | €1,027 | -€1,111 | -52.0% |
| Total equity and liabilities | 10/49 | €263,340 | €213,921 | -€49,419 | -18.8% |
| Equity | 10/15 | €212,417 | €175,825 | -€36,592 | -17.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €206,217 | €189,077 | -€17,139 | -8.3% |
| Non-distributable reserves | 130/1 | €8,127 | - | -€8,127 | |
| Reserves not available under the articles | 1311 | €8,127 | - | -€8,127 | |
| Distributable reserves | 133 | €198,089 | €189,077 | -€9,012 | -4.5% |
| Profit (loss) carried forward | 14 | - | -€19,453 | -€19,453 | |
| Amounts payable | 17/49 | €50,924 | €38,096 | -€12,828 | -25.2% |
| Amounts payable within one year | 42/48 | €50,924 | €38,096 | -€12,828 | -25.2% |
| Financial debts | 43 | €371 | €371 | = | 0.0% |
| Credit institutions | 430/8 | €371 | €371 | = | 0.0% |
| Trade debts | 44 | €27,447 | €18,505 | -€8,942 | -32.6% |
| Suppliers | 440/4 | €27,447 | €18,505 | -€8,942 | -32.6% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €1,513 | €16,745 | +€15,232 | +1006.6% |
| Taxes | 450/3 | €1,513 | €1,041 | -€472 | -31.2% |
| Remuneration and social security | 454/9 | - | €15,704 | +€15,704 | |
| Other amounts payable | 47/48 | €21,592 | €2,475 | -€19,117 | -88.5% |
| Remuneration, social security and pensions | 62 | €103 | - | -€103 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,056 | €18,174 | -€3,882 | -17.6% |
| Other operating charges | 640/8 | €3,265 | €4,435 | +€1,170 | +35.8% |
| Gross operating margin | 9900 | €17,783 | €3,630 | -€14,152 | -79.6% |
| Operating profit (loss) | 9901 | -€7,642 | -€18,978 | -€11,337 | -148.4% |
| Financial income | 75/76B | €11 | €3 | -€9 | -76.7% |
| Recurring financial income | 75 | €11 | €3 | -€9 | -76.7% |
| Financial charges | 65/66B | -€1,833 | €302 | +€2,135 | |
| Recurring financial charges | 65 | -€1,833 | €302 | +€2,135 | |
| Profit (loss) for the period before taxes | 9903 | -€5,797 | -€19,277 | -€13,480 | -232.5% |
| Income taxes | 67/77 | €636 | €175 | -€461 | -72.4% |
| Profit (loss) for the period | 9904 | -€6,433 | -€19,453 | -€13,019 | -202.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,433 | -€19,453 | -€13,019 | -202.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2022 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.