P & P: 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.
P & P
Largest movements
- Tangible fixed assets -€45,469
down €45,469 (-3.7%), from €1.2m to €1.2m
of which Land and buildings: -€39,025
- Cash -€34,713
down €34,713 (-89.9%), from €38,620 to €3,907
mainly Other debts (-€57,618) and Investment in fixed assets (net) (-€36,684)
- Other debts -€57,618
down €57,618 (-4.9%), from €1.2m to €1.1m
- Debts after one year -€28,921
down €28,921 (-7.7%), from €375,365 to €346,444
- Accrued charges and deferred income +€21,411
up €21,411 (+195%), from €10,979 to €32,390
- Profit (loss) carried forward -€20,826
down €20,826 (-43.1%), from €48,319 to €27,494
- Financial charges +€21,440
up €21,440 (+138%), from €15,567 to €37,007
- Gross operating margin +€11,517
up €11,517 (+12.4%), from €92,761 to €104,278
- Depreciation +€5,835
up €5,835 (+7.6%), from €76,317 to €82,153
- Other operating charges +€2,392
up €2,392 (+65.5%), from €3,652 to €6,044
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 | €2,007,486 | €1,916,547 | -€90,938 | -4.5% |
| Fixed assets | 21/28 | €1,943,690 | €1,898,222 | -€45,469 | -2.3% |
| Tangible fixed assets | 22/27 | €1,234,190 | €1,188,722 | -€45,469 | -3.7% |
| Land and buildings | 22 | €1,208,380 | €1,169,355 | -€39,025 | -3.2% |
| Plant, machinery and equipment | 23 | €5,984 | €4,861 | -€1,122 | -18.8% |
| Furniture and vehicles | 24 | €19,827 | €14,506 | -€5,321 | -26.8% |
| Financial fixed assets | 28 | €709,500 | €709,500 | = | 0.0% |
| Current assets | 29/58 | €63,796 | €18,326 | -€45,470 | -71.3% |
| Amounts receivable within one year | 40/41 | €23,025 | €12,176 | -€10,850 | -47.1% |
| Trade receivables | 40 | €22,465 | €12,056 | -€10,409 | -46.3% |
| Other amounts receivable | 41 | €560 | €120 | -€440 | -78.6% |
| Cash at bank and in hand | 54/58 | €38,620 | €3,907 | -€34,713 | -89.9% |
| Deferred charges and accrued income | 490/1 | €2,151 | €2,243 | +€93 | +4.3% |
| Total equity and liabilities | 10/49 | €2,007,486 | €1,916,547 | -€90,938 | -4.5% |
| Equity | 10/15 | €405,099 | €384,274 | -€20,826 | -5.1% |
| Contributions | 10/11 | €285,800 | €285,800 | = | 0.0% |
| Reserves | 13 | €70,980 | €70,980 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,094 | €20,094 | = | 0.0% |
| Distributable reserves | 133 | €50,886 | €50,886 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,319 | €27,494 | -€20,826 | -43.1% |
| Amounts payable | 17/49 | €1,602,386 | €1,532,274 | -€70,113 | -4.4% |
| Amounts payable after more than one year | 17 | €375,365 | €346,444 | -€28,921 | -7.7% |
| Financial debts | 170/4 | €375,365 | €346,444 | -€28,921 | -7.7% |
| Amounts payable within one year | 42/48 | €1,216,042 | €1,153,439 | -€62,603 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €32,021 | €28,921 | -€3,100 | -9.7% |
| Trade debts | 44 | €8,871 | €3,549 | -€5,321 | -60.0% |
| Suppliers | 440/4 | €8,871 | €3,549 | -€5,321 | -60.0% |
| Taxes, remuneration and social security | 45 | €204 | €3,641 | +€3,437 | +1,688% |
| Taxes | 450/3 | €204 | €3,641 | +€3,437 | +1,688% |
| Other amounts payable | 47/48 | €1,174,947 | €1,117,328 | -€57,618 | -4.9% |
| Accrued charges and deferred income | 492/3 | €10,979 | €32,390 | +€21,411 | +195% |
| Non-recurring operating income | 76A | - | €4,053 | +€4,053 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,317 | €82,153 | +€5,835 | +7.6% |
| Other operating charges | 640/8 | €3,652 | €6,044 | +€2,392 | +65.5% |
| Gross operating margin | 9900 | €92,761 | €104,278 | +€11,517 | +12.4% |
| Operating profit (loss) | 9901 | €12,791 | €16,081 | +€3,290 | +25.7% |
| Financial income | 75/76B | €1 | €101 | +€100 | +15,663% |
| Recurring financial income | 75 | €1 | €101 | +€100 | +15,663% |
| Financial charges | 65/66B | €15,567 | €37,007 | +€21,440 | +138% |
| Recurring financial charges | 65 | €15,567 | €37,007 | +€21,440 | +138% |
| Profit (loss) for the period before taxes | 9903 | -€2,775 | -€20,825 | -€18,050 | -650% |
| Income taxes | 67/77 | €0 | €0 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€2,775 | -€20,826 | -€18,050 | -650% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,775 | -€20,826 | -€18,050 | -650% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.