New Chapter: 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.
New Chapter
Largest movements
- Tangible fixed assets +€60,150
up €60,150 (+170.9%), from €35,187 to €95,338
of which Leasing and similar rights: +€83,401
- Cash +€6,736
up €6,736 (+8142.6%), from €83 to €6,818
mainly Debts after one year (+€51,634) and Current portion of long-term debt (+€18,622)
- Intangible fixed assets +€5,519
up €5,519 (+87.5%), from €6,309 to €11,829
- Stocks and contracts -€3,245
down €3,245 (-21.6%), from €15,000 to €11,755
- Debts after one year +€51,634
up €51,634 (+339.7%), from €15,199 to €66,833
- Current portion of long-term debt +€18,622
up €18,622 (+255.5%), from €7,289 to €25,911
- Other debts -€5,809
down €5,809 (-100.0%), from €5,809 to €0
- Tax, wage and social debts +€4,546
up €4,546 (+71.5%), from €6,356 to €10,902
of which Taxes: +€4,546
- Other operating charges +€13,625
up €13,625 (+1497.9%), from €910 to €14,535
- Taxes -€2,827
down €2,827 (-80.1%), from €3,529 to €701
- Gross operating margin +€2,748
up €2,748 (+9.5%), from €29,076 to €31,824
- Depreciation +€2,634
up €2,634 (+27.1%), from €9,711 to €12,346
- Financial charges +€655
up €655 (+26.5%), from €2,474 to €3,129
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 | €68,911 | €138,335 | +€69,424 | +100.7% |
| Fixed assets | 21/28 | €41,497 | €107,166 | +€65,669 | +158.3% |
| Intangible fixed assets | 21 | €6,309 | €11,829 | +€5,519 | +87.5% |
| Tangible fixed assets | 22/27 | €35,187 | €95,338 | +€60,150 | +170.9% |
| Plant, machinery and equipment | 23 | €10,797 | €11,559 | +€762 | +7.1% |
| Furniture and vehicles | 24 | €24,391 | €378 | -€24,012 | -98.4% |
| Leasing and similar rights | 25 | - | €83,401 | +€83,401 | |
| Current assets | 29/58 | €27,414 | €31,169 | +€3,754 | +13.7% |
| Stocks and contracts in progress | 3 | €15,000 | €11,755 | -€3,245 | -21.6% |
| Stocks | 30/36 | €15,000 | €11,755 | -€3,245 | -21.6% |
| Amounts receivable within one year | 40/41 | €10,201 | €10,198 | -€4 | 0.0% |
| Trade receivables | 40 | €10,201 | €7,282 | -€2,919 | -28.6% |
| Other amounts receivable | 41 | €0 | €2,915 | +€2,915 | |
| Cash at bank and in hand | 54/58 | €83 | €6,818 | +€6,736 | +8142.6% |
| Deferred charges and accrued income | 490/1 | €2,130 | €2,397 | +€267 | +12.5% |
| Total equity and liabilities | 10/49 | €68,911 | €138,335 | +€69,424 | +100.7% |
| Equity | 10/15 | €21,688 | €22,802 | +€1,113 | +5.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,688 | €17,802 | +€1,113 | +6.7% |
| Distributable reserves | 133 | €16,688 | €17,802 | +€1,113 | +6.7% |
| Amounts payable | 17/49 | €47,223 | €115,534 | +€68,311 | +144.7% |
| Amounts payable after more than one year | 17 | €15,199 | €66,833 | +€51,634 | +339.7% |
| Financial debts | 170/4 | €15,199 | €66,833 | +€51,634 | +339.7% |
| Amounts payable within one year | 42/48 | €32,024 | €48,701 | +€16,677 | +52.1% |
| Current portion of amounts payable after more than one year | 42 | €7,289 | €25,911 | +€18,622 | +255.5% |
| Trade debts | 44 | €12,570 | €11,888 | -€682 | -5.4% |
| Suppliers | 440/4 | €12,570 | €11,888 | -€682 | -5.4% |
| Taxes, remuneration and social security | 45 | €6,356 | €10,902 | +€4,546 | +71.5% |
| Taxes | 450/3 | €6,356 | €10,902 | +€4,546 | +71.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,809 | €0 | -€5,809 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,711 | €12,346 | +€2,634 | +27.1% |
| Other operating charges | 640/8 | €910 | €14,535 | +€13,625 | +1497.9% |
| Gross operating margin | 9900 | €29,076 | €31,824 | +€2,748 | +9.5% |
| Operating profit (loss) | 9901 | €18,455 | €4,943 | -€13,511 | -73.2% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €2,474 | €3,129 | +€655 | +26.5% |
| Recurring financial charges | 65 | €2,474 | €3,129 | +€655 | +26.5% |
| Profit (loss) for the period before taxes | 9903 | €15,982 | €1,814 | -€14,168 | -88.6% |
| Income taxes | 67/77 | €3,529 | €701 | -€2,827 | -80.1% |
| Profit (loss) for the period | 9904 | €12,453 | €1,113 | -€11,340 | -91.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,453 | €1,113 | -€11,340 | -91.1% |
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 6 October 2026 via checked.be.