Onstage: 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.
Onstage
Largest movements
- Tangible fixed assets -€146,417
down €146,417 (-84.1%), from €174,051 to €27,634
of which Land and buildings: -€166,000
- Receivables within one year +€12,191
up €12,191 (+131.6%), from €9,263 to €21,454
of which Trade receivables: +€10,910
- Cash +€11,222
up €11,222 (+157.4%), from €7,129 to €18,351
mainly Investment in fixed assets (net) (+€137,103) and Net result for the year (+€50,061)
- Stocks and contracts -€4,659
down €4,659 (-100.0%), from €4,659 to €0
- Current investments -€3,771
down €3,771 (-13.6%), from €27,693 to €23,923
- Debts after one year -€147,284
down €147,284 (-100.0%), from €147,284 to €0
- Reserves +€28,910
up €28,910 (+136.7%), from €21,151 to €50,061
- Current portion of long-term debt -€10,393
down €10,393 (-100.0%), from €10,393 to €0
- Other debts -€3,304
down €3,304 (-15.5%), from €21,283 to €17,979
- Tax, wage and social debts -€2,305
down €2,305 (-87.6%), from €2,632 to €327
of which Taxes: -€2,305
- Gross operating margin +€18,441
up €18,441 (+28.7%), from €64,332 to €82,773
- Staff costs -€10,922
down €10,922 (-100.0%), from €10,922 to €0
- Taxes +€9,160
up €9,160 (+109.8%), from €8,346 to €17,506
- Depreciation -€7,151
down €7,151 (-42.6%), from €16,801 to €9,650
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 | €223,132 | €91,362 | -€131,770 | -59.1% |
| Fixed assets | 21/28 | €174,387 | €27,634 | -€146,753 | -84.2% |
| Intangible fixed assets | 21 | €336 | €0 | -€336 | -100.0% |
| Tangible fixed assets | 22/27 | €174,051 | €27,634 | -€146,417 | -84.1% |
| Land and buildings | 22 | €166,000 | €0 | -€166,000 | -100.0% |
| Plant, machinery and equipment | 23 | €5,409 | €1,332 | -€4,077 | -75.4% |
| Furniture and vehicles | 24 | €2,643 | €26,302 | +€23,660 | +895.3% |
| Current assets | 29/58 | €48,745 | €63,728 | +€14,983 | +30.7% |
| Stocks and contracts in progress | 3 | €4,659 | €0 | -€4,659 | -100.0% |
| Contracts in progress | 37 | €4,659 | €0 | -€4,659 | -100.0% |
| Amounts receivable within one year | 40/41 | €9,263 | €21,454 | +€12,191 | +131.6% |
| Trade receivables | 40 | €9,051 | €19,960 | +€10,910 | +120.5% |
| Other amounts receivable | 41 | €212 | €1,494 | +€1,282 | +604.5% |
| Current investments | 50/53 | €27,693 | €23,923 | -€3,771 | -13.6% |
| Cash at bank and in hand | 54/58 | €7,129 | €18,351 | +€11,222 | +157.4% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €223,132 | €91,362 | -€131,770 | -59.1% |
| Equity | 10/15 | €39,751 | €68,661 | +€28,910 | +72.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €21,151 | €50,061 | +€28,910 | +136.7% |
| Distributable reserves | 133 | €21,151 | €50,061 | +€28,910 | +136.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €183,380 | €22,701 | -€160,680 | -87.6% |
| Amounts payable after more than one year | 17 | €147,284 | €0 | -€147,284 | -100.0% |
| Financial debts | 170/4 | €147,284 | €0 | -€147,284 | -100.0% |
| Amounts payable within one year | 42/48 | €36,097 | €22,701 | -€13,396 | -37.1% |
| Current portion of amounts payable after more than one year | 42 | €10,393 | €0 | -€10,393 | -100.0% |
| Trade debts | 44 | €1,788 | €2,408 | +€619 | +34.6% |
| Suppliers | 440/4 | €1,788 | €2,408 | +€619 | +34.6% |
| Advances received on contracts in progress | 46 | €0 | €1,988 | +€1,988 | |
| Taxes, remuneration and social security | 45 | €2,632 | €327 | -€2,305 | -87.6% |
| Taxes | 450/3 | €2,632 | €327 | -€2,305 | -87.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €21,283 | €17,979 | -€3,304 | -15.5% |
| Non-recurring operating income | 76A | - | €34,000 | +€34,000 | |
| Remuneration, social security and pensions | 62 | €10,922 | €0 | -€10,922 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,801 | €9,650 | -€7,151 | -42.6% |
| Other operating charges | 640/8 | €2,345 | €1,685 | -€660 | -28.2% |
| Gross operating margin | 9900 | €64,332 | €82,773 | +€18,441 | +28.7% |
| Operating profit (loss) | 9901 | €34,264 | €71,438 | +€37,174 | +108.5% |
| Financial income | 75/76B | €84 | €227 | +€143 | +169.5% |
| Recurring financial income | 75 | €84 | €227 | +€143 | +169.5% |
| Financial charges | 65/66B | €4,851 | €4,098 | -€753 | -15.5% |
| Recurring financial charges | 65 | €4,851 | €4,098 | -€753 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €29,497 | €67,568 | +€38,070 | +129.1% |
| Income taxes | 67/77 | €8,346 | €17,506 | +€9,160 | +109.8% |
| Profit (loss) for the period | 9904 | €21,151 | €50,061 | +€28,910 | +136.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,151 | €50,061 | +€28,910 | +136.7% |
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 4 October 2026 via checked.be.