OPTIONS & ACQUISITIONS: 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.
OPTIONS & ACQUISITIONS
Largest movements
- Tangible fixed assets +€203,365
up €203,365 (+137%), from €148,461 to €351,826
of which Land and buildings: +€182,413
- Cash -€84,214
down €84,214 (-80.8%), from €104,205 to €19,991
mainly Investment in fixed assets (net) (-€235,032) and Net result for the year (-€60,988)
- Debts after one year +€193,017
up €193,017 (+168%), from €114,575 to €307,592
- Profit (loss) carried forward -€78,098
no longer reported in 2025 (was €78,098)
- Tax, wage and social debts -€19,058
no longer reported in 2025 (was €19,058)
- Reserves +€17,110
new in 2025: €17,110
- Current portion of long-term debt +€7,288
up €7,288 (+178%), from €4,095 to €11,383
- Gross operating margin -€61,247
down €61,247, from €48,098 to -€13,149
- Depreciation +€6,151
up €6,151 (+24.1%), from €25,516 to €31,667
- Other operating charges +€5,241
up €5,241 (+509%), from €1,030 to €6,272
- Financial charges +€4,210
up €4,210 (+73.1%), from €5,761 to €9,971
- Taxes -€3,161
no longer reported in 2025 (was €3,161)
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 | €256,999 | €375,081 | +€118,082 | +45.9% |
| Fixed assets | 21/28 | €148,461 | €351,826 | +€203,365 | +137% |
| Tangible fixed assets | 22/27 | €148,461 | €351,826 | +€203,365 | +137% |
| Land and buildings | 22 | €148,461 | €330,874 | +€182,413 | +123% |
| Plant, machinery and equipment | 23 | - | €20,952 | +€20,952 | |
| Current assets | 29/58 | €108,538 | €23,255 | -€85,283 | -78.6% |
| Amounts receivable within one year | 40/41 | €4,333 | €3,264 | -€1,069 | -24.7% |
| Trade receivables | 40 | €1,129 | €2,160 | +€1,032 | +91.4% |
| Other amounts receivable | 41 | €3,204 | €1,103 | -€2,101 | -65.6% |
| Cash at bank and in hand | 54/58 | €104,205 | €19,991 | -€84,214 | -80.8% |
| Total equity and liabilities | 10/49 | €256,999 | €375,081 | +€118,082 | +45.9% |
| Equity | 10/15 | €83,098 | €22,110 | -€60,988 | -73.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Contributions outside capital | 11 | €5,000 | - | -€5,000 | |
| Other | 1109/19 | €5,000 | - | -€5,000 | |
| Reserves | 13 | - | €17,110 | +€17,110 | |
| Distributable reserves | 133 | - | €17,110 | +€17,110 | |
| Profit (loss) carried forward | 14 | €78,098 | - | -€78,098 | |
| Amounts payable | 17/49 | €173,901 | €352,971 | +€179,070 | +103% |
| Amounts payable after more than one year | 17 | €114,575 | €307,592 | +€193,017 | +168% |
| Financial debts | 170/4 | €114,575 | €307,592 | +€193,017 | +168% |
| Amounts payable within one year | 42/48 | €59,326 | €45,379 | -€13,947 | -23.5% |
| Current portion of amounts payable after more than one year | 42 | €4,095 | €11,383 | +€7,288 | +178% |
| Trade debts | 44 | €78 | - | -€78 | |
| Suppliers | 440/4 | €78 | - | -€78 | |
| Advances received on contracts in progress | 46 | €2,100 | - | -€2,100 | |
| Taxes, remuneration and social security | 45 | €19,058 | - | -€19,058 | |
| Taxes | 450/3 | €19,058 | - | -€19,058 | |
| Other amounts payable | 47/48 | €33,996 | €33,996 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,516 | €31,667 | +€6,151 | +24.1% |
| Other operating charges | 640/8 | €1,030 | €6,272 | +€5,241 | +509% |
| Gross operating margin | 9900 | €48,098 | -€13,149 | -€61,247 | |
| Operating profit (loss) | 9901 | €21,551 | -€51,088 | -€72,639 | |
| Financial income | 75/76B | - | €71 | +€71 | |
| Recurring financial income | 75 | - | €71 | +€71 | |
| Financial charges | 65/66B | €5,761 | €9,971 | +€4,210 | +73.1% |
| Recurring financial charges | 65 | €5,761 | €9,971 | +€4,210 | +73.1% |
| Profit (loss) for the period before taxes | 9903 | €15,790 | -€60,988 | -€76,778 | |
| Income taxes | 67/77 | €3,161 | - | -€3,161 | |
| Profit (loss) for the period | 9904 | €12,629 | -€60,988 | -€73,617 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,629 | -€60,988 | -€73,617 |
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.