OLD CITY: 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.
OLD CITY
Largest movements
- Stocks and contracts +€20,736
up €20,736 (+51.1%), from €40,547 to €61,283
- Cash -€14,844
down €14,844 (-39.5%), from €37,615 to €22,771
mainly Stocks and contracts (-€20,736) and Trade debts (-€11,934)
- Receivables within one year -€8,930
down €8,930 (-23.0%), from €38,791 to €29,860
of which Trade receivables: -€7,930
- Tangible fixed assets -€4,872
down €4,872 (-15.5%), from €31,507 to €26,635
of which Plant, machinery and equipment: -€6,966
- Trade debts -€11,934
down €11,934 (-12.2%), from €97,927 to €85,993
- Other debts +€4,986
new in 2025: €4,986
- Staff costs +€3,124
up €3,124 (+11.0%), from €28,416 to €31,540
- Depreciation +€3,084
up €3,084 (+47.7%), from €6,461 to €9,545
- Gross operating margin +€2,863
up €2,863 (+5.8%), from €49,715 to €52,578
- Financial charges +€1,187
up €1,187 (+20.2%), from €5,885 to €7,071
- Other operating charges -€1,105
down €1,105 (-37.6%), from €2,937 to €1,832
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 | €148,459 | €141,304 | -€7,155 | -4.8% |
| Fixed assets | 21/28 | €31,507 | €26,635 | -€4,872 | -15.5% |
| Tangible fixed assets | 22/27 | €31,507 | €26,635 | -€4,872 | -15.5% |
| Land and buildings | 22 | €14,273 | €13,254 | -€1,020 | -7.1% |
| Plant, machinery and equipment | 23 | €16,490 | €9,524 | -€6,966 | -42.2% |
| Furniture and vehicles | 24 | €744 | €3,857 | +€3,114 | +419% |
| Current assets | 29/58 | €116,953 | €114,670 | -€2,283 | -2.0% |
| Stocks and contracts in progress | 3 | €40,547 | €61,283 | +€20,736 | +51.1% |
| Stocks | 30/36 | €40,547 | €61,283 | +€20,736 | +51.1% |
| Amounts receivable within one year | 40/41 | €38,791 | €29,860 | -€8,930 | -23.0% |
| Trade receivables | 40 | €37,790 | €29,860 | -€7,930 | -21.0% |
| Other amounts receivable | 41 | €1,001 | - | -€1,001 | |
| Cash at bank and in hand | 54/58 | €37,615 | €22,771 | -€14,844 | -39.5% |
| Deferred charges and accrued income | 490/1 | - | €756 | +€756 | |
| Total equity and liabilities | 10/49 | €148,459 | €141,304 | -€7,155 | -4.8% |
| Equity | 10/15 | €34,418 | €34,450 | +€32 | +0.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €28,218 | €28,250 | +€32 | +0.1% |
| Distributable reserves | 133 | €28,218 | €28,250 | +€32 | +0.1% |
| Amounts payable | 17/49 | €114,041 | €106,854 | -€7,187 | -6.3% |
| Amounts payable within one year | 42/48 | €114,041 | €106,854 | -€7,187 | -6.3% |
| Trade debts | 44 | €97,927 | €85,993 | -€11,934 | -12.2% |
| Suppliers | 440/4 | €97,927 | €85,993 | -€11,934 | -12.2% |
| Taxes, remuneration and social security | 45 | €16,114 | €15,875 | -€238 | -1.5% |
| Taxes | 450/3 | €10,649 | €5,811 | -€4,838 | -45.4% |
| Remuneration and social security | 454/9 | €5,465 | €10,065 | +€4,600 | +84.2% |
| Other amounts payable | 47/48 | - | €4,986 | +€4,986 | |
| Remuneration, social security and pensions | 62 | €28,416 | €31,540 | +€3,124 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,461 | €9,545 | +€3,084 | +47.7% |
| Other operating charges | 640/8 | €2,937 | €1,832 | -€1,105 | -37.6% |
| Non-recurring operating charges | 66A | €5,795 | €430 | -€5,366 | -92.6% |
| Gross operating margin | 9900 | €49,715 | €52,578 | +€2,863 | +5.8% |
| Operating profit (loss) | 9901 | €6,106 | €9,232 | +€3,126 | +51.2% |
| Financial income | 75/76B | €12 | €56 | +€44 | +354% |
| Recurring financial income | 75 | €12 | €56 | +€44 | +354% |
| Financial charges | 65/66B | €5,885 | €7,071 | +€1,187 | +20.2% |
| Recurring financial charges | 65 | €5,885 | €7,071 | +€1,187 | +20.2% |
| Profit (loss) for the period before taxes | 9903 | €234 | €2,217 | +€1,983 | +848% |
| Income taxes | 67/77 | €1,469 | €2,185 | +€716 | +48.7% |
| Profit (loss) for the period | 9904 | -€1,235 | €32 | +€1,267 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,235 | €32 | +€1,267 |
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 17 October 2026 via checked.be.