PERFECT MIX: 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.
PERFECT MIX
Largest movements
- Tangible fixed assets +€207,935
up €207,935 (+7,688%), from €2,705 to €210,640
of which Land and buildings: +€208,601
- Cash -€77,916
down €77,916 (-39.3%), from €198,147 to €120,232
mainly Investment in fixed assets (net) (-€238,600) and Contributions, distributions and other (-€101,176)
- Receivables within one year +€5,732
up €5,732 (+18.1%), from €31,740 to €37,472
of which Other amounts receivable: +€3,605
- Debts after one year +€163,696
new in 2025: €163,696
- Reserves -€102,820
down €102,820 (-50.6%), from €203,318 to €100,497
- Other debts +€50,959
up €50,959 (+4,895%), from €1,041 to €52,000
- Current portion of long-term debt +€17,289
new in 2025: €17,289
- Tax, wage and social debts +€7,268
up €7,268 (+86.0%), from €8,454 to €15,722
- Depreciation +€29,048
up €29,048 (+1,796%), from €1,617 to €30,665
- Gross operating margin -€14,602
down €14,602 (-27.8%), from €52,503 to €37,901
- Taxes -€9,667
down €9,667 (-89.3%), from €10,828 to €1,161
- Financial charges +€5,616
up €5,616 (+2,028%), from €277 to €5,892
- Financial income +€1,256
up €1,256 (+35,897%), from €4 to €1,260
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 | €236,048 | €374,619 | +€138,571 | +58.7% |
| Fixed assets | 21/28 | €2,705 | €210,640 | +€207,935 | +7,688% |
| Tangible fixed assets | 22/27 | €2,705 | €210,640 | +€207,935 | +7,688% |
| Land and buildings | 22 | - | €208,601 | +€208,601 | |
| Plant, machinery and equipment | 23 | €493 | €293 | -€200 | -40.5% |
| Furniture and vehicles | 24 | €1,713 | €1,336 | -€376 | -22.0% |
| Other tangible fixed assets | 26 | €499 | €409 | -€90 | -17.9% |
| Current assets | 29/58 | €233,344 | €163,980 | -€69,364 | -29.7% |
| Amounts receivable within one year | 40/41 | €31,740 | €37,472 | +€5,732 | +18.1% |
| Trade receivables | 40 | €25,305 | €27,432 | +€2,127 | +8.4% |
| Other amounts receivable | 41 | €6,436 | €10,041 | +€3,605 | +56.0% |
| Cash at bank and in hand | 54/58 | €198,147 | €120,232 | -€77,916 | -39.3% |
| Deferred charges and accrued income | 490/1 | €3,456 | €6,275 | +€2,819 | +81.6% |
| Total equity and liabilities | 10/49 | €236,048 | €374,619 | +€138,571 | +58.7% |
| Equity | 10/15 | €221,918 | €119,097 | -€102,820 | -46.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €203,318 | €100,497 | -€102,820 | -50.6% |
| Distributable reserves | 133 | €203,318 | €100,497 | -€102,820 | -50.6% |
| Amounts payable | 17/49 | €14,131 | €255,522 | +€241,391 | +1,708% |
| Amounts payable after more than one year | 17 | - | €163,696 | +€163,696 | |
| Financial debts | 170/4 | - | €163,696 | +€163,696 | |
| Amounts payable within one year | 42/48 | €14,131 | €91,826 | +€77,695 | +550% |
| Current portion of amounts payable after more than one year | 42 | - | €17,289 | +€17,289 | |
| Trade debts | 44 | €4,635 | €6,815 | +€2,179 | +47.0% |
| Suppliers | 440/4 | €4,635 | €6,815 | +€2,179 | +47.0% |
| Taxes, remuneration and social security | 45 | €8,454 | €15,722 | +€7,268 | +86.0% |
| Taxes | 450/3 | €8,454 | €15,722 | +€7,268 | +86.0% |
| Other amounts payable | 47/48 | €1,041 | €52,000 | +€50,959 | +4,895% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,617 | €30,665 | +€29,048 | +1,796% |
| Other operating charges | 640/8 | €1,910 | €3,086 | +€1,176 | +61.6% |
| Gross operating margin | 9900 | €52,503 | €37,901 | -€14,602 | -27.8% |
| Operating profit (loss) | 9901 | €48,976 | €4,150 | -€44,826 | -91.5% |
| Financial income | 75/76B | €4 | €1,260 | +€1,256 | +35,897% |
| Recurring financial income | 75 | €4 | €1,260 | +€1,256 | +35,897% |
| Financial charges | 65/66B | €277 | €5,892 | +€5,616 | +2,028% |
| Recurring financial charges | 65 | €277 | €5,892 | +€5,616 | +2,028% |
| Profit (loss) for the period before taxes | 9903 | €48,703 | -€483 | -€49,185 | |
| Income taxes | 67/77 | €10,828 | €1,161 | -€9,667 | -89.3% |
| Profit (loss) for the period | 9904 | €37,875 | -€1,644 | -€39,519 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,875 | -€1,644 | -€39,519 |
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 20 October 2026 via checked.be.