ONE TRACK: 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 TRACK
Largest movements
- Cash +€28,653
up €28,653 (+103.7%), from €27,637 to €56,290
mainly Depreciation (+€49,824) and Receivables within one year (+€27,380)
- Receivables within one year -€27,380
down €27,380 (-60.5%), from €45,274 to €17,894
of which Trade receivables: -€16,184
- Other debts +€25,716
up €25,716 (+12.3%), from €209,790 to €235,507
- Debts after one year -€16,507
down €16,507 (-7.0%), from €235,311 to €218,803
- Trade debts -€6,569
down €6,569 (-59.6%), from €11,029 to €4,459
- Depreciation +€9,834
up €9,834 (+24.6%), from €39,990 to €49,824
- Gross operating margin -€6,922
down €6,922 (-11.1%), from €62,196 to €55,274
- Taxes -€4,610
down €4,610 (-96.8%), from €4,764 to €155
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 | €518,601 | €518,568 | -€34 | 0.0% |
| Fixed assets | 21/28 | €443,707 | €441,198 | -€2,509 | -0.6% |
| Tangible fixed assets | 22/27 | €443,707 | €441,198 | -€2,509 | -0.6% |
| Land and buildings | 22 | €374,551 | €357,639 | -€16,912 | -4.5% |
| Plant, machinery and equipment | 23 | €24,598 | €40,145 | +€15,546 | +63.2% |
| Furniture and vehicles | 24 | €44,558 | €43,414 | -€1,144 | -2.6% |
| Current assets | 29/58 | €74,894 | €77,370 | +€2,476 | +3.3% |
| Amounts receivable within one year | 40/41 | €45,274 | €17,894 | -€27,380 | -60.5% |
| Trade receivables | 40 | €28,232 | €12,048 | -€16,184 | -57.3% |
| Other amounts receivable | 41 | €17,041 | €5,846 | -€11,196 | -65.7% |
| Cash at bank and in hand | 54/58 | €27,637 | €56,290 | +€28,653 | +103.7% |
| Deferred charges and accrued income | 490/1 | €1,984 | €3,186 | +€1,203 | +60.6% |
| Total equity and liabilities | 10/49 | €518,601 | €518,568 | -€34 | 0.0% |
| Equity | 10/15 | €41,970 | €41,318 | -€651 | -1.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €23,370 | €23,370 | = | 0.0% |
| Non-distributable reserves | 130/1 | €95 | €0 | -€95 | -100.0% |
| Reserves not available under the articles | 1311 | €95 | €0 | -€95 | -100.0% |
| Distributable reserves | 133 | €23,274 | €23,370 | +€95 | +0.4% |
| Profit (loss) carried forward | 14 | - | -€651 | -€651 | |
| Amounts payable | 17/49 | €476,631 | €477,249 | +€618 | +0.1% |
| Amounts payable after more than one year | 17 | €235,311 | €218,803 | -€16,507 | -7.0% |
| Financial debts | 170/4 | €235,311 | €218,803 | -€16,507 | -7.0% |
| Amounts payable within one year | 42/48 | €241,321 | €258,446 | +€17,125 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €16,241 | €16,507 | +€266 | +1.6% |
| Trade debts | 44 | €11,029 | €4,459 | -€6,569 | -59.6% |
| Suppliers | 440/4 | €11,029 | €4,459 | -€6,569 | -59.6% |
| Taxes, remuneration and social security | 45 | €4,261 | €1,973 | -€2,288 | -53.7% |
| Taxes | 450/3 | €4,261 | €1,973 | -€2,288 | -53.7% |
| Other amounts payable | 47/48 | €209,790 | €235,507 | +€25,716 | +12.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,990 | €49,824 | +€9,834 | +24.6% |
| Other operating charges | 640/8 | €1,833 | €1,821 | -€12 | -0.7% |
| Gross operating margin | 9900 | €62,196 | €55,274 | -€6,922 | -11.1% |
| Operating profit (loss) | 9901 | €20,373 | €3,628 | -€16,745 | -82.2% |
| Financial income | 75/76B | €117 | €58 | -€59 | -50.5% |
| Recurring financial income | 75 | €117 | €58 | -€59 | -50.5% |
| Financial charges | 65/66B | €4,688 | €4,183 | -€505 | -10.8% |
| Recurring financial charges | 65 | €4,688 | €4,183 | -€505 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €15,802 | -€497 | -€16,299 | |
| Income taxes | 67/77 | €4,764 | €155 | -€4,610 | -96.8% |
| Profit (loss) for the period | 9904 | €11,037 | -€651 | -€11,689 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,037 | -€651 | -€11,689 |
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 11 October 2026 via checked.be.