OLD RED BARN: 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 RED BARN
Largest movements
- Stocks and contracts -€104,924
down €104,924 (-25.8%), from €407,140 to €302,216
- Receivables within one year -€49,356
down €49,356 (-41.7%), from €118,360 to €69,004
of which Trade receivables: -€46,282
- Tangible fixed assets -€40,752
down €40,752 (-6.2%), from €655,877 to €615,125
of which Land and buildings: -€27,004
- Cash -€30,389
down €30,389 (-95.9%), from €31,701 to €1,313
mainly Net result for the year (-€123,285) and Debts after one year (-€82,076)
- Reserves -€123,285
down €123,285 (-32.5%), from €379,679 to €256,394
of which Distributable reserves: -€123,285
- Debts after one year -€82,076
down €82,076 (-20.8%), from €395,507 to €313,431
- Trade debts -€24,106
down €24,106 (-20.8%), from €115,637 to €91,531
- Write-downs +€70,330
new in 2025: €70,330
- Gross operating margin -€65,434
down €65,434 (-59.6%), from €109,834 to €44,400
- Other operating charges -€10,011
down €10,011 (-49.5%), from €20,205 to €10,195
- Depreciation +€4,187
up €4,187 (+10.8%), from €38,943 to €43,129
- Financial charges -€3,357
down €3,357 (-24.6%), from €13,656 to €10,298
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 | €1,220,763 | €991,623 | -€229,141 | -18.8% |
| Fixed assets | 21/28 | €655,877 | €615,125 | -€40,752 | -6.2% |
| Tangible fixed assets | 22/27 | €655,877 | €615,125 | -€40,752 | -6.2% |
| Land and buildings | 22 | €591,963 | €564,960 | -€27,004 | -4.6% |
| Plant, machinery and equipment | 23 | €9,178 | €9,045 | -€133 | -1.4% |
| Furniture and vehicles | 24 | €54,736 | €41,120 | -€13,616 | -24.9% |
| Current assets | 29/58 | €564,886 | €376,498 | -€188,388 | -33.3% |
| Stocks and contracts in progress | 3 | €407,140 | €302,216 | -€104,924 | -25.8% |
| Stocks | 30/36 | €407,140 | €302,216 | -€104,924 | -25.8% |
| Amounts receivable within one year | 40/41 | €118,360 | €69,004 | -€49,356 | -41.7% |
| Trade receivables | 40 | €109,013 | €62,730 | -€46,282 | -42.5% |
| Other amounts receivable | 41 | €9,347 | €6,274 | -€3,074 | -32.9% |
| Cash at bank and in hand | 54/58 | €31,701 | €1,313 | -€30,389 | -95.9% |
| Deferred charges and accrued income | 490/1 | €7,684 | €3,965 | -€3,719 | -48.4% |
| Total equity and liabilities | 10/49 | €1,220,763 | €991,623 | -€229,141 | -18.8% |
| Equity | 10/15 | €406,279 | €282,994 | -€123,285 | -30.3% |
| Contributions | 10/11 | €26,600 | €26,600 | = | 0.0% |
| Reserves | 13 | €379,679 | €256,394 | -€123,285 | -32.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €379,679 | €256,394 | -€123,285 | -32.5% |
| Amounts payable | 17/49 | €814,484 | €708,628 | -€105,856 | -13.0% |
| Amounts payable after more than one year | 17 | €395,507 | €313,431 | -€82,076 | -20.8% |
| Financial debts | 170/4 | €395,507 | €313,431 | -€82,076 | -20.8% |
| Amounts payable within one year | 42/48 | €418,977 | €395,197 | -€23,780 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €79,935 | €82,076 | +€2,141 | +2.7% |
| Trade debts | 44 | €115,637 | €91,531 | -€24,106 | -20.8% |
| Suppliers | 440/4 | €115,637 | €91,531 | -€24,106 | -20.8% |
| Taxes, remuneration and social security | 45 | €9,622 | €6,797 | -€2,825 | -29.4% |
| Taxes | 450/3 | €1,844 | €1,937 | +€92 | +5.0% |
| Remuneration and social security | 454/9 | €7,777 | €4,860 | -€2,917 | -37.5% |
| Other amounts payable | 47/48 | €213,784 | €214,793 | +€1,009 | +0.5% |
| Remuneration, social security and pensions | 62 | €34,610 | €34,035 | -€575 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,943 | €43,129 | +€4,187 | +10.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €70,330 | +€70,330 | |
| Other operating charges | 640/8 | €20,205 | €10,195 | -€10,011 | -49.5% |
| Gross operating margin | 9900 | €109,834 | €44,400 | -€65,434 | -59.6% |
| Operating profit (loss) | 9901 | €16,076 | -€113,289 | -€129,365 | |
| Financial income | 75/76B | €25 | €488 | +€463 | +1820.9% |
| Recurring financial income | 75 | €25 | €488 | +€463 | +1820.9% |
| Financial charges | 65/66B | €13,656 | €10,298 | -€3,357 | -24.6% |
| Recurring financial charges | 65 | €13,656 | €10,298 | -€3,357 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €2,445 | -€123,099 | -€125,545 | |
| Income taxes | 67/77 | €1,751 | €185 | -€1,566 | -89.4% |
| Profit (loss) for the period | 9904 | €694 | -€123,285 | -€123,979 | |
| Profit (loss) for the period to be appropriated | 9905 | €694 | -€123,285 | -€123,979 |
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 9 October 2026 via checked.be.