Management Outreach: 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.
Management Outreach
Largest movements
- Tangible fixed assets -€21,695
down €21,695 (-4.2%), from €515,639 to €493,943
of which Land and buildings: -€20,524
- Cash -€7,843
down €7,843 (-41.9%), from €18,712 to €10,869
mainly Debts after one year (-€27,264) and Other debts (-€19,076)
- Receivables within one year +€5,479
up €5,479 (+51.8%), from €10,571 to €16,050
- Debts after one year -€27,264
down €27,264 (-6.4%), from €423,820 to €396,557
- Other debts -€19,076
down €19,076 (-59.5%), from €32,055 to €12,979
- Profit (loss) carried forward +€16,717
up €16,717 (+43.0%), from €38,875 to €55,592
- Tax, wage and social debts +€8,040
new in 2025: €8,040
- Gross operating margin -€8,230
down €8,230 (-11.3%), from €72,816 to €64,586
- Taxes +€5,825
up €5,825, from -€933 to €4,893
- Financial charges +€2,178
up €2,178 (+13.7%), from €15,928 to €18,106
- Financial income -€880
down €880 (-98.2%), from €896 to €16
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 | €544,921 | €520,863 | -€24,059 | -4.4% |
| Fixed assets | 21/28 | €515,639 | €493,943 | -€21,695 | -4.2% |
| Tangible fixed assets | 22/27 | €515,639 | €493,943 | -€21,695 | -4.2% |
| Land and buildings | 22 | €510,953 | €490,429 | -€20,524 | -4.0% |
| Plant, machinery and equipment | 23 | €4,685 | €3,514 | -€1,171 | -25.0% |
| Current assets | 29/58 | €29,283 | €26,920 | -€2,363 | -8.1% |
| Amounts receivable within one year | 40/41 | €10,571 | €16,050 | +€5,479 | +51.8% |
| Trade receivables | 40 | €10,571 | €16,050 | +€5,479 | +51.8% |
| Cash at bank and in hand | 54/58 | €18,712 | €10,869 | -€7,843 | -41.9% |
| Deferred charges and accrued income | 490/1 | - | €1 | +€1 | |
| Total equity and liabilities | 10/49 | €544,921 | €520,863 | -€24,059 | -4.4% |
| Equity | 10/15 | €57,837 | €74,554 | +€16,717 | +28.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €362 | €362 | = | 0.0% |
| Non-distributable reserves | 130/1 | €362 | €362 | = | 0.0% |
| Reserves not available under the articles | 1311 | €362 | €362 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,875 | €55,592 | +€16,717 | +43.0% |
| Amounts payable | 17/49 | €487,085 | €446,309 | -€40,776 | -8.4% |
| Amounts payable after more than one year | 17 | €423,820 | €396,557 | -€27,264 | -6.4% |
| Financial debts | 170/4 | €423,820 | €396,557 | -€27,264 | -6.4% |
| Amounts payable within one year | 42/48 | €63,264 | €49,703 | -€13,562 | -21.4% |
| Financial debts | 43 | €26,552 | €27,264 | +€712 | +2.7% |
| Credit institutions | 430/8 | €26,552 | €27,264 | +€712 | +2.7% |
| Trade debts | 44 | €4,657 | €1,420 | -€3,238 | -69.5% |
| Suppliers | 440/4 | €4,657 | €1,420 | -€3,238 | -69.5% |
| Taxes, remuneration and social security | 45 | - | €8,040 | +€8,040 | |
| Taxes | 450/3 | - | €8,040 | +€8,040 | |
| Other amounts payable | 47/48 | €32,055 | €12,979 | -€19,076 | -59.5% |
| Accrued charges and deferred income | 492/3 | - | €50 | +€50 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,114 | €21,695 | +€582 | +2.8% |
| Other operating charges | 640/8 | €3,102 | €3,191 | +€89 | +2.9% |
| Gross operating margin | 9900 | €72,816 | €64,586 | -€8,230 | -11.3% |
| Operating profit (loss) | 9901 | €48,600 | €39,700 | -€8,900 | -18.3% |
| Financial income | 75/76B | €896 | €16 | -€880 | -98.2% |
| Recurring financial income | 75 | €896 | €16 | -€880 | -98.2% |
| Financial charges | 65/66B | €15,928 | €18,106 | +€2,178 | +13.7% |
| Recurring financial charges | 65 | €15,928 | €18,106 | +€2,178 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €33,568 | €21,610 | -€11,958 | -35.6% |
| Income taxes | 67/77 | -€933 | €4,893 | +€5,825 | |
| Profit (loss) for the period | 9904 | €34,501 | €16,717 | -€17,784 | -51.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,501 | €16,717 | -€17,784 | -51.5% |
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 21 October 2026 via checked.be.