P & A: 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.
P & A
Largest movements
- Tangible fixed assets -€13,370
down €13,370 (-28.3%), from €47,231 to €33,861
of which Furniture and vehicles: -€12,503
- Stocks and contracts +€6,946
up €6,946 (+15.0%), from €46,274 to €53,220
- Cash -€5,742
down €5,742 (-19.2%), from €29,865 to €24,123
mainly Debts after one year (-€14,221) and Net result for the year (-€8,639)
- Receivables within one year -€2,836
down €2,836 (-16.0%), from €17,695 to €14,859
of which Other amounts receivable: -€8,147
- Debts after one year -€14,221
down €14,221 (-57.8%), from €24,596 to €10,375
- Reserves -€8,639
down €8,639 (-11.4%), from €75,576 to €66,937
of which Distributable reserves: -€8,639
- Other debts +€6,970
new in 2025: €6,970
- Trade debts +€5,114
up €5,114 (+87.9%), from €5,821 to €10,935
- Tax, wage and social debts -€1,738
down €1,738 (-85.0%), from €2,045 to €307
- Gross operating margin +€4,820
up €4,820 (+51.0%), from €9,448 to €14,268
- Taxes +€4,250
up €4,250 (+3045.9%), from €140 to €4,389
- Other operating charges +€789
up €789 (+67.4%), from €1,170 to €1,959
- Depreciation +€582
up €582 (+4.6%), from €12,787 to €13,370
- Financial charges -€431
down €431 (-11.9%), from €3,620 to €3,189
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 | €142,245 | €128,344 | -€13,901 | -9.8% |
| Fixed assets | 21/28 | €48,411 | €35,042 | -€13,370 | -27.6% |
| Tangible fixed assets | 22/27 | €47,231 | €33,861 | -€13,370 | -28.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €43,043 | €30,540 | -€12,503 | -29.0% |
| Other tangible fixed assets | 26 | €4,188 | €3,321 | -€866 | -20.7% |
| Financial fixed assets | 28 | €1,180 | €1,180 | = | 0.0% |
| Current assets | 29/58 | €93,834 | €93,302 | -€532 | -0.6% |
| Stocks and contracts in progress | 3 | €46,274 | €53,220 | +€6,946 | +15.0% |
| Stocks | 30/36 | €46,274 | €53,220 | +€6,946 | +15.0% |
| Amounts receivable within one year | 40/41 | €17,695 | €14,859 | -€2,836 | -16.0% |
| Trade receivables | 40 | €0 | €5,311 | +€5,311 | |
| Other amounts receivable | 41 | €17,695 | €9,548 | -€8,147 | -46.0% |
| Cash at bank and in hand | 54/58 | €29,865 | €24,123 | -€5,742 | -19.2% |
| Deferred charges and accrued income | 490/1 | - | €1,100 | +€1,100 | |
| Total equity and liabilities | 10/49 | €142,245 | €128,344 | -€13,901 | -9.8% |
| Equity | 10/15 | €94,176 | €85,537 | -€8,639 | -9.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,576 | €66,937 | -€8,639 | -11.4% |
| Non-distributable reserves | 130/1 | €255 | €255 | = | 0.0% |
| Reserves not available under the articles | 1311 | €255 | €255 | = | 0.0% |
| Distributable reserves | 133 | €75,321 | €66,681 | -€8,639 | -11.5% |
| Amounts payable | 17/49 | €48,070 | €42,807 | -€5,262 | -10.9% |
| Amounts payable after more than one year | 17 | €24,596 | €10,375 | -€14,221 | -57.8% |
| Financial debts | 170/4 | €24,596 | €10,375 | -€14,221 | -57.8% |
| Amounts payable within one year | 42/48 | €23,474 | €32,433 | +€8,959 | +38.2% |
| Current portion of amounts payable after more than one year | 42 | €15,608 | €14,221 | -€1,386 | -8.9% |
| Trade debts | 44 | €5,821 | €10,935 | +€5,114 | +87.9% |
| Suppliers | 440/4 | €5,821 | €10,935 | +€5,114 | +87.9% |
| Taxes, remuneration and social security | 45 | €2,045 | €307 | -€1,738 | -85.0% |
| Taxes | 450/3 | €2,045 | €307 | -€1,738 | -85.0% |
| Other amounts payable | 47/48 | - | €6,970 | +€6,970 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,787 | €13,370 | +€582 | +4.6% |
| Other operating charges | 640/8 | €1,170 | €1,959 | +€789 | +67.4% |
| Gross operating margin | 9900 | €9,448 | €14,268 | +€4,820 | +51.0% |
| Operating profit (loss) | 9901 | -€4,510 | -€1,061 | +€3,449 | +76.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,620 | €3,189 | -€431 | -11.9% |
| Recurring financial charges | 65 | €3,620 | €3,189 | -€431 | -11.9% |
| Profit (loss) for the period before taxes | 9903 | -€8,130 | -€4,250 | +€3,880 | +47.7% |
| Income taxes | 67/77 | €140 | €4,389 | +€4,250 | +3045.9% |
| Profit (loss) for the period | 9904 | -€8,269 | -€8,639 | -€370 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,269 | -€8,639 | -€370 | -4.5% |
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.