PERFORMANCES: 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.
PERFORMANCES
Largest movements
- Receivables within one year -€56,644
down €56,644 (-66.3%), from €85,478 to €28,834
of which Trade receivables: -€32,030
- Tangible fixed assets -€35,792
down €35,792 (-5.2%), from €693,960 to €658,168
of which Furniture and vehicles: -€21,063
- Cash -€23,269
down €23,269 (-78.1%), from €29,779 to €6,510
mainly Trade debts (-€37,357) and Other debts (-€35,000)
- Trade debts -€37,357
down €37,357 (-68.1%), from €54,837 to €17,480
- Other debts -€35,000
no longer reported in 2025 (was €35,000)
- Debts after one year -€25,616
down €25,616 (-7.7%), from €332,046 to €306,430
- Tax, wage and social debts -€16,175
down €16,175 (-33.6%), from €48,201 to €32,026
- Gross operating margin -€45,571
down €45,571 (-36.4%), from €125,097 to €79,526
- Taxes -€9,880
down €9,880 (-71.7%), from €13,788 to €3,908
- Depreciation -€6,709
down €6,709 (-9.8%), from €68,177 to €61,468
- Other operating charges +€5,135
up €5,135 (+155.8%), from €3,295 to €8,430
- Financial charges +€1,285
up €1,285 (+12.3%), from €10,481 to €11,766
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 | €860,525 | €746,962 | -€113,563 | -13.2% |
| Fixed assets | 21/28 | €693,985 | €658,193 | -€35,792 | -5.2% |
| Tangible fixed assets | 22/27 | €693,960 | €658,168 | -€35,792 | -5.2% |
| Land and buildings | 22 | €653,694 | €638,965 | -€14,729 | -2.3% |
| Furniture and vehicles | 24 | €40,266 | €19,203 | -€21,063 | -52.3% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €166,540 | €88,769 | -€77,771 | -46.7% |
| Amounts receivable after more than one year | 29 | €50,000 | €52,785 | +€2,785 | +5.6% |
| Other amounts receivable | 291 | €50,000 | €52,785 | +€2,785 | +5.6% |
| Amounts receivable within one year | 40/41 | €85,478 | €28,834 | -€56,644 | -66.3% |
| Trade receivables | 40 | €60,606 | €28,576 | -€32,030 | -52.8% |
| Other amounts receivable | 41 | €24,872 | €258 | -€24,614 | -99.0% |
| Cash at bank and in hand | 54/58 | €29,779 | €6,510 | -€23,269 | -78.1% |
| Deferred charges and accrued income | 490/1 | €1,283 | €640 | -€643 | -50.1% |
| Total equity and liabilities | 10/49 | €860,525 | €746,962 | -€113,563 | -13.2% |
| Equity | 10/15 | €321,560 | €322,027 | +€467 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €150,120 | €143,380 | -€6,740 | -4.5% |
| Tax-exempt reserves | 132 | €98,260 | €91,520 | -€6,740 | -6.9% |
| Distributable reserves | 133 | €51,860 | €51,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,840 | €160,047 | +€7,207 | +4.7% |
| Provisions and deferred taxes | 16 | €41,456 | €37,986 | -€3,470 | -8.4% |
| Deferred taxes | 168 | €41,456 | €37,986 | -€3,470 | -8.4% |
| Amounts payable | 17/49 | €497,509 | €386,949 | -€110,560 | -22.2% |
| Amounts payable after more than one year | 17 | €332,046 | €306,430 | -€25,616 | -7.7% |
| Financial debts | 170/4 | €332,046 | €306,430 | -€25,616 | -7.7% |
| Amounts payable within one year | 42/48 | €163,209 | €75,122 | -€88,087 | -54.0% |
| Current portion of amounts payable after more than one year | 42 | €25,171 | €25,616 | +€445 | +1.8% |
| Trade debts | 44 | €54,837 | €17,480 | -€37,357 | -68.1% |
| Suppliers | 440/4 | €54,837 | €17,480 | -€37,357 | -68.1% |
| Taxes, remuneration and social security | 45 | €48,201 | €32,026 | -€16,175 | -33.6% |
| Taxes | 450/3 | €48,201 | €32,026 | -€16,175 | -33.6% |
| Other amounts payable | 47/48 | €35,000 | - | -€35,000 | |
| Accrued charges and deferred income | 492/3 | €2,254 | €5,397 | +€3,143 | +139.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,177 | €61,468 | -€6,709 | -9.8% |
| Other operating charges | 640/8 | €3,295 | €8,430 | +€5,135 | +155.8% |
| Gross operating margin | 9900 | €125,097 | €79,526 | -€45,571 | -36.4% |
| Operating profit (loss) | 9901 | €53,625 | €9,628 | -€43,997 | -82.0% |
| Financial income | 75/76B | €3,370 | €3,041 | -€329 | -9.8% |
| Recurring financial income | 75 | €3,370 | €3,041 | -€329 | -9.8% |
| Financial charges | 65/66B | €10,481 | €11,766 | +€1,285 | +12.3% |
| Recurring financial charges | 65 | €10,481 | €11,766 | +€1,285 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €46,514 | €903 | -€45,611 | -98.1% |
| Transfer from deferred taxes | 780 | €3,471 | €3,471 | = | 0.0% |
| Income taxes | 67/77 | €13,788 | €3,908 | -€9,880 | -71.7% |
| Profit (loss) for the period | 9904 | €36,197 | €466 | -€35,731 | -98.7% |
| Transfer from tax-exempt reserves | 789 | €6,740 | €6,740 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €42,937 | €7,206 | -€35,731 | -83.2% |
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 9 October 2026 via checked.be.