ONE ON ONE: 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.
ONE ON ONE
Largest movements
- Tangible fixed assets +€330,633
up €330,633 (+48.2%), from €685,504 to €1.0m
of which Land and buildings: +€347,592
- Cash -€79,654
down €79,654 (-49.3%), from €161,673 to €82,020
mainly Investment in fixed assets (net) (-€365,361) and Tax, wage and social debts (-€17,756)
- Receivables after one year +€15,000
new in 2025: €15,000
- Debts after one year +€245,071
up €245,071 (+47.5%), from €516,404 to €761,474
- Reserves +€38,283
up €38,283 (+12.0%), from €318,127 to €356,410
- Current portion of long-term debt +€27,831
up €27,831 (+224%), from €12,451 to €40,282
- Tax, wage and social debts -€17,756
down €17,756 (-21.9%), from €81,187 to €63,431
of which Taxes: -€10,837
- Other debts -€14,829
down €14,829 (-98.3%), from €15,093 to €264
- Gross operating margin -€242,988
down €242,988 (-40.2%), from €603,876 to €360,889
- Taxes -€61,040
down €61,040 (-78.6%), from €77,630 to €16,590
- Depreciation -€56,792
down €56,792 (-57.5%), from €98,761 to €41,969
- Staff costs -€55,220
down €55,220 (-21.6%), from €255,777 to €200,557
- Financial charges +€24,387
up €24,387 (+180%), from €13,578 to €37,965
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 | €959,860 | €1,242,909 | +€283,049 | +29.5% |
| Fixed assets | 21/28 | €692,746 | €1,016,137 | +€323,392 | +46.7% |
| Intangible fixed assets | 21 | €2,591 | - | -€2,591 | |
| Tangible fixed assets | 22/27 | €685,504 | €1,016,137 | +€330,633 | +48.2% |
| Land and buildings | 22 | €566,223 | €913,815 | +€347,592 | +61.4% |
| Plant, machinery and equipment | 23 | €5,281 | €8,685 | +€3,404 | +64.5% |
| Furniture and vehicles | 24 | €71,686 | €84,061 | +€12,374 | +17.3% |
| Other tangible fixed assets | 26 | €42,314 | €9,577 | -€32,737 | -77.4% |
| Financial fixed assets | 28 | €4,650 | - | -€4,650 | |
| Current assets | 29/58 | €267,114 | €226,772 | -€40,342 | -15.1% |
| Amounts receivable after more than one year | 29 | - | €15,000 | +€15,000 | |
| Other amounts receivable | 291 | - | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | €104,130 | €116,155 | +€12,025 | +11.5% |
| Trade receivables | 40 | €104,130 | €112,622 | +€8,492 | +8.2% |
| Other amounts receivable | 41 | - | €3,533 | +€3,533 | |
| Cash at bank and in hand | 54/58 | €161,673 | €82,020 | -€79,654 | -49.3% |
| Deferred charges and accrued income | 490/1 | €1,311 | €13,598 | +€12,286 | +937% |
| Total equity and liabilities | 10/49 | €959,860 | €1,242,909 | +€283,049 | +29.5% |
| Equity | 10/15 | €324,327 | €362,610 | +€38,283 | +11.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €318,127 | €356,410 | +€38,283 | +12.0% |
| Distributable reserves | 133 | €318,127 | €356,410 | +€38,283 | +12.0% |
| Amounts payable | 17/49 | €635,533 | €880,299 | +€244,767 | +38.5% |
| Amounts payable after more than one year | 17 | €516,404 | €761,474 | +€245,071 | +47.5% |
| Financial debts | 170/4 | €516,404 | €761,474 | +€245,071 | +47.5% |
| Amounts payable within one year | 42/48 | €119,129 | €114,289 | -€4,840 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €12,451 | €40,282 | +€27,831 | +224% |
| Trade debts | 44 | €10,399 | €10,312 | -€87 | -0.8% |
| Suppliers | 440/4 | €10,399 | €10,312 | -€87 | -0.8% |
| Taxes, remuneration and social security | 45 | €81,187 | €63,431 | -€17,756 | -21.9% |
| Taxes | 450/3 | €56,467 | €45,630 | -€10,837 | -19.2% |
| Remuneration and social security | 454/9 | €24,721 | €17,802 | -€6,919 | -28.0% |
| Other amounts payable | 47/48 | €15,093 | €264 | -€14,829 | -98.3% |
| Accrued charges and deferred income | 492/3 | - | €4,536 | +€4,536 | |
| Remuneration, social security and pensions | 62 | €255,777 | €200,557 | -€55,220 | -21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,761 | €41,969 | -€56,792 | -57.5% |
| Other operating charges | 640/8 | €9,471 | €27,224 | +€17,753 | +187% |
| Gross operating margin | 9900 | €603,876 | €360,889 | -€242,988 | -40.2% |
| Operating profit (loss) | 9901 | €239,867 | €91,139 | -€148,728 | -62.0% |
| Financial income | 75/76B | €1,044 | €1,699 | +€654 | +62.6% |
| Recurring financial income | 75 | €1,044 | €1,699 | +€654 | +62.6% |
| Financial charges | 65/66B | €13,578 | €37,965 | +€24,387 | +180% |
| Recurring financial charges | 65 | €13,578 | €37,965 | +€24,387 | +180% |
| Profit (loss) for the period before taxes | 9903 | €227,333 | €54,873 | -€172,461 | -75.9% |
| Income taxes | 67/77 | €77,630 | €16,590 | -€61,040 | -78.6% |
| Profit (loss) for the period | 9904 | €149,704 | €38,283 | -€111,421 | -74.4% |
| Profit (loss) for the period to be appropriated | 9905 | €149,704 | €38,283 | -€111,421 | -74.4% |
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 24 October 2026 via checked.be.