PAGE IN EXTREMIS: 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.
PAGE IN EXTREMIS
Largest movements
- Receivables within one year -€31,022
down €31,022 (-9.7%), from €320,658 to €289,635
of which Other amounts receivable: -€34,134
- Tangible fixed assets -€22,444
down €22,444 (-8.8%), from €255,940 to €233,496
of which Furniture and vehicles: -€13,259
- Debts after one year -€50,078
down €50,078 (-25.5%), from €196,510 to €146,432
- Profit (loss) carried forward -€14,932
down €14,932 (-9.1%), from €164,394 to €149,462
- Tax, wage and social debts +€13,114
up €13,114 (+119%), from €11,050 to €24,163
of which Taxes: +€11,839
- Gross operating margin -€29,256
down €29,256 (-20.8%), from €140,749 to €111,493
- Staff costs -€23,647
down €23,647 (-22.1%), from €106,847 to €83,200
- Other operating charges +€3,163
up €3,163 (+68.6%), from €4,608 to €7,772
- Financial charges -€2,358
down €2,358 (-10.1%), from €23,343 to €20,985
- Depreciation -€2,160
down €2,160 (-8.8%), from €24,605 to €22,444
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 | €580,222 | €526,904 | -€53,319 | -9.2% |
| Fixed assets | 21/28 | €256,930 | €234,486 | -€22,444 | -8.7% |
| Tangible fixed assets | 22/27 | €255,940 | €233,496 | -€22,444 | -8.8% |
| Land and buildings | 22 | €237,523 | €228,554 | -€8,969 | -3.8% |
| Plant, machinery and equipment | 23 | €1,761 | €1,544 | -€217 | -12.3% |
| Furniture and vehicles | 24 | €16,656 | €3,397 | -€13,259 | -79.6% |
| Financial fixed assets | 28 | €990 | €990 | = | 0.0% |
| Current assets | 29/58 | €323,292 | €292,418 | -€30,874 | -9.5% |
| Amounts receivable within one year | 40/41 | €320,658 | €289,635 | -€31,022 | -9.7% |
| Trade receivables | 40 | €124,610 | €127,722 | +€3,112 | +2.5% |
| Other amounts receivable | 41 | €196,048 | €161,913 | -€34,134 | -17.4% |
| Cash at bank and in hand | 54/58 | €1,925 | €2,036 | +€111 | +5.8% |
| Deferred charges and accrued income | 490/1 | €709 | €747 | +€37 | +5.3% |
| Total equity and liabilities | 10/49 | €580,222 | €526,904 | -€53,319 | -9.2% |
| Equity | 10/15 | €185,019 | €170,087 | -€14,932 | -8.1% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €1,875 | €1,875 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | €164,394 | €149,462 | -€14,932 | -9.1% |
| Amounts payable | 17/49 | €395,203 | €356,817 | -€38,386 | -9.7% |
| Amounts payable after more than one year | 17 | €196,510 | €146,432 | -€50,078 | -25.5% |
| Financial debts | 170/4 | €196,510 | €146,432 | -€50,078 | -25.5% |
| Amounts payable within one year | 42/48 | €195,071 | €208,533 | +€13,462 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €47,592 | €50,078 | +€2,486 | +5.2% |
| Financial debts | 43 | €74,326 | €72,422 | -€1,904 | -2.6% |
| Credit institutions | 430/8 | €74,326 | €72,422 | -€1,904 | -2.6% |
| Trade debts | 44 | €62,103 | €61,870 | -€233 | -0.4% |
| Suppliers | 440/4 | €62,103 | €61,870 | -€233 | -0.4% |
| Taxes, remuneration and social security | 45 | €11,050 | €24,163 | +€13,114 | +119% |
| Taxes | 450/3 | €2,921 | €14,759 | +€11,839 | +405% |
| Remuneration and social security | 454/9 | €8,129 | €9,404 | +€1,275 | +15.7% |
| Accrued charges and deferred income | 492/3 | €3,623 | €1,852 | -€1,771 | -48.9% |
| Remuneration, social security and pensions | 62 | €106,847 | €83,200 | -€23,647 | -22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,605 | €22,444 | -€2,160 | -8.8% |
| Other operating charges | 640/8 | €4,608 | €7,772 | +€3,163 | +68.6% |
| Gross operating margin | 9900 | €140,749 | €111,493 | -€29,256 | -20.8% |
| Operating profit (loss) | 9901 | €4,689 | -€1,923 | -€6,612 | |
| Financial income | 75/76B | €10,226 | €8,558 | -€1,668 | -16.3% |
| Recurring financial income | 75 | €10,226 | €8,558 | -€1,668 | -16.3% |
| Financial charges | 65/66B | €23,343 | €20,985 | -€2,358 | -10.1% |
| Recurring financial charges | 65 | €23,343 | €20,985 | -€2,358 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,427 | -€14,350 | -€5,923 | -70.3% |
| Income taxes | 67/77 | €551 | €582 | +€32 | +5.7% |
| Profit (loss) for the period | 9904 | -€8,978 | -€14,932 | -€5,954 | -66.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,978 | -€14,932 | -€5,954 | -66.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.