PAST: 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.
PAST
Largest movements
- Tangible fixed assets -€35,047
down €35,047 (-4.9%), from €710,611 to €675,564
of which Plant, machinery and equipment: -€25,072
- Current investments -€14,495
down €14,495 (-57.8%), from €25,057 to €10,562
- Cash -€11,427
down €11,427 (-91.6%), from €12,471 to €1,044
mainly Debts after one year (-€61,484) and Contributions, distributions and other (-€42,105)
- Debts after one year -€61,484
down €61,484 (-24.1%), from €255,646 to €194,162
- Reserves -€12,255
down €12,255 (-4.0%), from €305,715 to €293,460
of which Distributable reserves: -€12,255
- Current portion of long-term debt +€7,925
up €7,925 (+16.8%), from €47,032 to €54,957
- Gross operating margin +€12,059
up €12,059 (+14.2%), from €84,704 to €96,763
- Taxes +€7,502
up €7,502 (+109.9%), from €6,827 to €14,329
- Financial income +€3,248
up €3,248 (+1327.9%), from €245 to €3,492
- Financial charges -€2,799
down €2,799 (-21.5%), from €13,019 to €10,220
- Depreciation -€1,102
down €1,102 (-3.0%), from €36,149 to €35,047
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 | €753,837 | €691,406 | -€62,431 | -8.3% |
| Fixed assets | 21/28 | €710,611 | €675,564 | -€35,047 | -4.9% |
| Tangible fixed assets | 22/27 | €710,611 | €675,564 | -€35,047 | -4.9% |
| Land and buildings | 22 | €495,442 | €485,467 | -€9,975 | -2.0% |
| Plant, machinery and equipment | 23 | €215,170 | €190,098 | -€25,072 | -11.7% |
| Current assets | 29/58 | €43,226 | €15,842 | -€27,385 | -63.4% |
| Amounts receivable within one year | 40/41 | €5,698 | €2,000 | -€3,698 | -64.9% |
| Other amounts receivable | 41 | €5,698 | €2,000 | -€3,698 | -64.9% |
| Current investments | 50/53 | €25,057 | €10,562 | -€14,495 | -57.8% |
| Cash at bank and in hand | 54/58 | €12,471 | €1,044 | -€11,427 | -91.6% |
| Deferred charges and accrued income | 490/1 | - | €2,236 | +€2,236 | |
| Total equity and liabilities | 10/49 | €753,837 | €691,406 | -€62,431 | -8.3% |
| Equity | 10/15 | €441,079 | €428,824 | -€12,255 | -2.8% |
| Contributions | 10/11 | €135,364 | €135,364 | = | 0.0% |
| Reserves | 13 | €305,715 | €293,460 | -€12,255 | -4.0% |
| Non-distributable reserves | 130/1 | €13,536 | €13,536 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,536 | €13,536 | = | 0.0% |
| Distributable reserves | 133 | €292,178 | €279,924 | -€12,255 | -4.2% |
| Amounts payable | 17/49 | €312,759 | €262,582 | -€50,177 | -16.0% |
| Amounts payable after more than one year | 17 | €255,646 | €194,162 | -€61,484 | -24.1% |
| Financial debts | 170/4 | €255,646 | €194,162 | -€61,484 | -24.1% |
| Amounts payable within one year | 42/48 | €57,113 | €67,670 | +€10,557 | +18.5% |
| Current portion of amounts payable after more than one year | 42 | €47,032 | €54,957 | +€7,925 | +16.8% |
| Financial debts | 43 | €6,842 | €7,062 | +€220 | +3.2% |
| Credit institutions | 430/8 | €6,842 | €7,062 | +€220 | +3.2% |
| Trade debts | 44 | €1,241 | €291 | -€950 | -76.6% |
| Suppliers | 440/4 | €1,241 | €291 | -€950 | -76.6% |
| Taxes, remuneration and social security | 45 | €1,278 | €2,641 | +€1,363 | +106.6% |
| Taxes | 450/3 | €1,278 | €2,641 | +€1,363 | +106.6% |
| Other amounts payable | 47/48 | €719 | €2,719 | +€2,000 | +278.0% |
| Accrued charges and deferred income | 492/3 | - | €750 | +€750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,149 | €35,047 | -€1,102 | -3.0% |
| Other operating charges | 640/8 | €11,455 | €10,809 | -€646 | -5.6% |
| Gross operating margin | 9900 | €84,704 | €96,763 | +€12,059 | +14.2% |
| Operating profit (loss) | 9901 | €37,099 | €50,908 | +€13,808 | +37.2% |
| Financial income | 75/76B | €245 | €3,492 | +€3,248 | +1327.9% |
| Recurring financial income | 75 | €245 | €3,492 | +€3,248 | +1327.9% |
| Financial charges | 65/66B | €13,019 | €10,220 | -€2,799 | -21.5% |
| Recurring financial charges | 65 | €13,019 | €10,220 | -€2,799 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €24,325 | €44,180 | +€19,855 | +81.6% |
| Income taxes | 67/77 | €6,827 | €14,329 | +€7,502 | +109.9% |
| Profit (loss) for the period | 9904 | €17,498 | €29,851 | +€12,353 | +70.6% |
| Profit (loss) for the period to be appropriated | 9905 | €17,498 | €29,851 | +€12,353 | +70.6% |
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 6 October 2026 via checked.be.