Ore alba: 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.
Ore alba
Largest movements
- Tangible fixed assets +€235,427
up €235,427 (+20772.7%), from €1,133 to €236,561
of which Land and buildings: +€234,845
- Receivables within one year -€141,920
down €141,920 (-77.8%), from €182,497 to €40,577
of which Trade receivables: -€163,544
- Deferred charges and accrued income +€8,205
up €8,205 (+43.6%), from €18,805 to €27,010
- Reserves +€73,676
up €73,676 (+52.1%), from €141,307 to €214,983
- Tax, wage and social debts +€18,581
up €18,581 (+67.8%), from €27,421 to €46,002
- Other debts +€7,439
up €7,439 (+11.4%), from €65,214 to €72,654
- Depreciation +€37,075
up €37,075 (+15732.9%), from €236 to €37,310
- Gross operating margin +€20,951
up €20,951 (+18.9%), from €110,559 to €131,510
- Taxes -€8,840
down €8,840 (-32.2%), from €27,421 to €18,581
- Other operating charges +€1,329
up €1,329 (+247.0%), from €538 to €1,868
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 | €237,001 | €337,266 | +€100,266 | +42.3% |
| Fixed assets | 21/28 | €1,133 | €236,561 | +€235,427 | +20772.7% |
| Tangible fixed assets | 22/27 | €1,133 | €236,561 | +€235,427 | +20772.7% |
| Land and buildings | 22 | - | €234,845 | +€234,845 | |
| Plant, machinery and equipment | 23 | - | €1,038 | +€1,038 | |
| Furniture and vehicles | 24 | €1,133 | €677 | -€456 | -40.3% |
| Current assets | 29/58 | €235,867 | €100,706 | -€135,161 | -57.3% |
| Amounts receivable within one year | 40/41 | €182,497 | €40,577 | -€141,920 | -77.8% |
| Trade receivables | 40 | €163,701 | €157 | -€163,544 | -99.9% |
| Other amounts receivable | 41 | €18,796 | €40,420 | +€21,624 | +115.0% |
| Cash at bank and in hand | 54/58 | €34,566 | €33,119 | -€1,446 | -4.2% |
| Deferred charges and accrued income | 490/1 | €18,805 | €27,010 | +€8,205 | +43.6% |
| Total equity and liabilities | 10/49 | €237,001 | €337,266 | +€100,266 | +42.3% |
| Equity | 10/15 | €144,307 | €217,983 | +€73,676 | +51.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €141,307 | €214,983 | +€73,676 | +52.1% |
| Distributable reserves | 133 | €141,307 | €214,983 | +€73,676 | +52.1% |
| Amounts payable | 17/49 | €92,693 | €119,283 | +€26,590 | +28.7% |
| Amounts payable within one year | 42/48 | €92,693 | €119,283 | +€26,590 | +28.7% |
| Trade debts | 44 | €58 | €627 | +€569 | +980.7% |
| Suppliers | 440/4 | €58 | €627 | +€569 | +980.7% |
| Taxes, remuneration and social security | 45 | €27,421 | €46,002 | +€18,581 | +67.8% |
| Taxes | 450/3 | €27,421 | €46,002 | +€18,581 | +67.8% |
| Other amounts payable | 47/48 | €65,214 | €72,654 | +€7,439 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €236 | €37,310 | +€37,075 | +15732.9% |
| Other operating charges | 640/8 | €538 | €1,868 | +€1,329 | +247.0% |
| Gross operating margin | 9900 | €110,559 | €131,510 | +€20,951 | +18.9% |
| Operating profit (loss) | 9901 | €109,785 | €92,332 | -€17,453 | -15.9% |
| Financial charges | 65/66B | €314 | €75 | -€239 | -76.1% |
| Recurring financial charges | 65 | €314 | €75 | -€239 | -76.1% |
| Profit (loss) for the period before taxes | 9903 | €109,471 | €92,257 | -€17,214 | -15.7% |
| Income taxes | 67/77 | €27,421 | €18,581 | -€8,840 | -32.2% |
| Profit (loss) for the period | 9904 | €82,050 | €73,676 | -€8,374 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €82,050 | €73,676 | -€8,374 | -10.2% |
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 5 October 2026 via checked.be.