OUT LOUD: 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.
OUT LOUD
Largest movements
- Tangible fixed assets -€24,132
down €24,132 (-26.6%), from €90,799 to €66,667
of which Land and buildings: -€22,076
- Receivables within one year +€8,810
up €8,810 (+14.7%), from €59,844 to €68,654
of which Other amounts receivable: +€6,860
- Cash +€5,303
new in 2025: €5,303
mainly Depreciation (+€27,951) and Short-term financial debts (+€14,099)
- Debts after one year -€26,290
down €26,290 (-32.6%), from €80,612 to €54,322
- Short-term financial debts +€14,099
up €14,099 (+414.6%), from €3,401 to €17,500
- Trade debts +€3,003
up €3,003 (+81.7%), from €3,674 to €6,677
- Tax, wage and social debts +€2,285
up €2,285 (+43.8%), from €5,220 to €7,505
- Profit (loss) carried forward -€2,180
new in 2025: -€2,180
- Gross operating margin -€13,568
down €13,568 (-29.4%), from €46,213 to €32,645
- Financial charges -€6,284
down €6,284 (-52.5%), from €11,977 to €5,692
of which Financial charges: -€6,008
- Financial income +€1,466
up €1,466 (+4888300.0%), from €0 to €1,467
of which Non-recurring financial income: +€1,466
- Taxes -€1,260
down €1,260 (-62.7%), from €2,009 to €749
- Other operating charges -€688
down €688 (-26.6%), from €2,587 to €1,898
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 | €152,538 | €143,777 | -€8,761 | -5.7% |
| Fixed assets | 21/28 | €90,799 | €66,667 | -€24,132 | -26.6% |
| Tangible fixed assets | 22/27 | €90,799 | €66,667 | -€24,132 | -26.6% |
| Land and buildings | 22 | €80,674 | €58,598 | -€22,076 | -27.4% |
| Plant, machinery and equipment | 23 | €7,963 | €6,548 | -€1,415 | -17.8% |
| Furniture and vehicles | 24 | €2,162 | €1,521 | -€641 | -29.6% |
| Current assets | 29/58 | €61,739 | €77,110 | +€15,371 | +24.9% |
| Amounts receivable within one year | 40/41 | €59,844 | €68,654 | +€8,810 | +14.7% |
| Trade receivables | 40 | €19,200 | €21,150 | +€1,949 | +10.2% |
| Other amounts receivable | 41 | €40,644 | €47,505 | +€6,860 | +16.9% |
| Cash at bank and in hand | 54/58 | - | €5,303 | +€5,303 | |
| Deferred charges and accrued income | 490/1 | €1,895 | €3,153 | +€1,258 | +66.4% |
| Total equity and liabilities | 10/49 | €152,538 | €143,777 | -€8,761 | -5.7% |
| Equity | 10/15 | €32,798 | €30,618 | -€2,180 | -6.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €14,198 | €14,198 | = | 0.0% |
| Distributable reserves | 133 | €14,198 | €14,198 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,180 | -€2,180 | |
| Amounts payable | 17/49 | €119,741 | €113,159 | -€6,581 | -5.5% |
| Amounts payable after more than one year | 17 | €80,612 | €54,322 | -€26,290 | -32.6% |
| Financial debts | 170/4 | €80,612 | €54,322 | -€26,290 | -32.6% |
| Amounts payable within one year | 42/48 | €39,128 | €58,837 | +€19,709 | +50.4% |
| Current portion of amounts payable after more than one year | 42 | €26,833 | €27,155 | +€322 | +1.2% |
| Financial debts | 43 | €3,401 | €17,500 | +€14,099 | +414.6% |
| Credit institutions | 430/8 | €3,401 | €17,500 | +€14,099 | +414.6% |
| Trade debts | 44 | €3,674 | €6,677 | +€3,003 | +81.7% |
| Suppliers | 440/4 | €3,674 | €6,677 | +€3,003 | +81.7% |
| Taxes, remuneration and social security | 45 | €5,220 | €7,505 | +€2,285 | +43.8% |
| Taxes | 450/3 | €5,220 | €7,505 | +€2,285 | +43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,125 | €27,951 | -€174 | -0.6% |
| Other operating charges | 640/8 | €2,587 | €1,898 | -€688 | -26.6% |
| Gross operating margin | 9900 | €46,213 | €32,645 | -€13,568 | -29.4% |
| Operating profit (loss) | 9901 | €15,501 | €2,795 | -€12,706 | -82.0% |
| Financial income | 75/76B | €0 | €1,467 | +€1,466 | +4888300.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +66.7% |
| Non-recurring financial income | 76B | - | €1,466 | +€1,466 | |
| Financial charges | 65/66B | €11,977 | €5,692 | -€6,284 | -52.5% |
| Recurring financial charges | 65 | €11,700 | €5,692 | -€6,008 | -51.3% |
| Non-recurring financial charges | 66B | €276 | - | -€276 | |
| Profit (loss) for the period before taxes | 9903 | €3,525 | -€1,431 | -€4,955 | |
| Income taxes | 67/77 | €2,009 | €749 | -€1,260 | -62.7% |
| Profit (loss) for the period | 9904 | €1,516 | -€2,180 | -€3,696 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,516 | -€2,180 | -€3,696 |
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 3 October 2026 via checked.be.