NAESSENS PATRICK: 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.
NAESSENS PATRICK
Largest movements
- Tangible fixed assets -€70,296
down €70,296 (-6.4%), from €1.1m to €1.0m
of which Land and buildings: -€51,942
- Cash +€15,401
up €15,401 (+34.1%), from €45,197 to €60,598
mainly Depreciation (+€82,160) and Tax, wage and social debts (+€3,211)
- Debts after one year -€30,374
down €30,374 (-13.1%), from €231,568 to €201,194
of which Financial debts: -€28,874
- Reserves -€22,410
down €22,410 (-2.9%), from €769,469 to €747,060
of which Distributable reserves: -€22,410
- Gross operating margin -€9,603
down €9,603 (-8.4%), from €114,987 to €105,384
- Depreciation +€1,434
up €1,434 (+1.8%), from €80,727 to €82,160
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 | €1,162,454 | €1,106,980 | -€55,474 | -4.8% |
| Fixed assets | 21/28 | €1,099,741 | €1,029,445 | -€70,296 | -6.4% |
| Tangible fixed assets | 22/27 | €1,099,741 | €1,029,445 | -€70,296 | -6.4% |
| Land and buildings | 22 | €1,007,008 | €955,066 | -€51,942 | -5.2% |
| Plant, machinery and equipment | 23 | €44,357 | €37,799 | -€6,558 | -14.8% |
| Furniture and vehicles | 24 | €48,376 | €36,579 | -€11,796 | -24.4% |
| Current assets | 29/58 | €62,713 | €77,535 | +€14,823 | +23.6% |
| Amounts receivable within one year | 40/41 | €14,910 | €14,183 | -€727 | -4.9% |
| Trade receivables | 40 | €14,382 | €12,347 | -€2,035 | -14.1% |
| Other amounts receivable | 41 | €527 | €1,835 | +€1,308 | +248.0% |
| Cash at bank and in hand | 54/58 | €45,197 | €60,598 | +€15,401 | +34.1% |
| Deferred charges and accrued income | 490/1 | €2,606 | €2,755 | +€149 | +5.7% |
| Total equity and liabilities | 10/49 | €1,162,454 | €1,106,980 | -€55,474 | -4.8% |
| Equity | 10/15 | €831,469 | €809,060 | -€22,410 | -2.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €769,469 | €747,060 | -€22,410 | -2.9% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €763,269 | €740,860 | -€22,410 | -2.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €330,985 | €297,921 | -€33,064 | -10.0% |
| Amounts payable after more than one year | 17 | €231,568 | €201,194 | -€30,374 | -13.1% |
| Financial debts | 170/4 | €224,668 | €195,794 | -€28,874 | -12.9% |
| Other amounts payable | 178/9 | €6,900 | €5,400 | -€1,500 | -21.7% |
| Amounts payable within one year | 42/48 | €95,849 | €94,008 | -€1,841 | -1.9% |
| Current portion of amounts payable after more than one year | 42 | €27,725 | €28,874 | +€1,148 | +4.1% |
| Trade debts | 44 | €5,171 | €5,475 | +€304 | +5.9% |
| Suppliers | 440/4 | €5,171 | €5,475 | +€304 | +5.9% |
| Taxes, remuneration and social security | 45 | €1,296 | €4,507 | +€3,211 | +247.8% |
| Taxes | 450/3 | €1,296 | €4,507 | +€3,211 | +247.8% |
| Other amounts payable | 47/48 | €61,657 | €55,151 | -€6,506 | -10.6% |
| Accrued charges and deferred income | 492/3 | €3,568 | €2,719 | -€849 | -23.8% |
| Non-recurring operating income | 76A | €7,240 | €0 | -€7,240 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,727 | €82,160 | +€1,434 | +1.8% |
| Other operating charges | 640/8 | €12,072 | €12,513 | +€441 | +3.7% |
| Gross operating margin | 9900 | €114,987 | €105,384 | -€9,603 | -8.4% |
| Operating profit (loss) | 9901 | €22,188 | €10,711 | -€11,478 | -51.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -20.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -20.5% |
| Financial charges | 65/66B | €13,966 | €12,929 | -€1,037 | -7.4% |
| Recurring financial charges | 65 | €13,966 | €12,929 | -€1,037 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €8,223 | -€2,218 | -€10,440 | |
| Income taxes | 67/77 | €973 | €192 | -€781 | -80.3% |
| Profit (loss) for the period | 9904 | €7,250 | -€2,410 | -€9,660 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,250 | -€2,410 | -€9,660 |
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 4 October 2026 via checked.be.