PAGE: 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.
PAGE
Largest movements
- Cash -€19,389
down €19,389 (-34.5%), from €56,181 to €36,791
mainly Other debts (-€64,482) and Investment in fixed assets (net) (-€30,997)
- Other debts -€64,482
down €64,482 (-18.1%), from €357,238 to €292,756
- Profit (loss) carried forward +€43,325
up €43,325 (+26.7%), from -€162,051 to -€118,725
- Taxes +€8,583
new in 2025: €8,583
- Gross operating margin -€3,406
down €3,406 (-3.4%), from €100,638 to €97,232
- Other operating charges -€2,128
down €2,128 (-11.8%), from €18,071 to €15,943
- Depreciation -€1,058
down €1,058 (-3.5%), from €30,169 to €29,111
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 | €205,088 | €186,625 | -€18,464 | -9.0% |
| Fixed assets | 21/28 | €147,947 | €149,833 | +€1,887 | +1.3% |
| Tangible fixed assets | 22/27 | €147,947 | €149,833 | +€1,887 | +1.3% |
| Land and buildings | 22 | €33,381 | €32,991 | -€390 | -1.2% |
| Plant, machinery and equipment | 23 | €114,566 | €116,843 | +€2,277 | +2.0% |
| Current assets | 29/58 | €57,142 | €36,791 | -€20,350 | -35.6% |
| Cash at bank and in hand | 54/58 | €56,181 | €36,791 | -€19,389 | -34.5% |
| Deferred charges and accrued income | 490/1 | €961 | - | -€961 | |
| Total equity and liabilities | 10/49 | €205,088 | €186,625 | -€18,464 | -9.0% |
| Equity | 10/15 | -€153,684 | -€110,359 | +€43,325 | +28.2% |
| Contributions | 10/11 | €8,366 | €8,366 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€162,051 | -€118,725 | +€43,325 | +26.7% |
| Amounts payable | 17/49 | €358,773 | €296,984 | -€61,789 | -17.2% |
| Amounts payable within one year | 42/48 | €358,773 | €296,274 | -€62,499 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €1,534 | €1,934 | +€400 | +26.1% |
| Taxes, remuneration and social security | 45 | - | €1,583 | +€1,583 | |
| Taxes | 450/3 | - | €1,583 | +€1,583 | |
| Other amounts payable | 47/48 | €357,238 | €292,756 | -€64,482 | -18.1% |
| Accrued charges and deferred income | 492/3 | - | €710 | +€710 | |
| Non-recurring operating income | 76A | €933 | - | -€933 | |
| Remuneration, social security and pensions | 62 | -€5 | - | +€5 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,169 | €29,111 | -€1,058 | -3.5% |
| Other operating charges | 640/8 | €18,071 | €15,943 | -€2,128 | -11.8% |
| Gross operating margin | 9900 | €100,638 | €97,232 | -€3,406 | -3.4% |
| Operating profit (loss) | 9901 | €52,403 | €52,179 | -€224 | -0.4% |
| Financial income | 75/76B | €53 | - | -€53 | |
| Recurring financial income | 75 | €53 | - | -€53 | |
| Financial charges | 65/66B | €273 | €270 | -€3 | -1.0% |
| Recurring financial charges | 65 | €273 | €270 | -€3 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €52,183 | €51,909 | -€275 | -0.5% |
| Income taxes | 67/77 | - | €8,583 | +€8,583 | |
| Profit (loss) for the period | 9904 | €52,183 | €43,325 | -€8,858 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,183 | €43,325 | -€8,858 | -17.0% |
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 7 October 2026 via checked.be.