Plan 50: 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.
Plan 50
Largest movements
- Tangible fixed assets +€54,370
up €54,370 (+3.7%), from €1.5m to €1.5m
- Cash -€52,103
down €52,103 (-50.5%), from €103,236 to €51,134
mainly Investment in fixed assets (net) (-€113,990) and Contributions, distributions and other (-€100,000)
- Receivables within one year +€42,472
up €42,472 (+33.2%), from €127,741 to €170,212
of which Other amounts receivable: +€48,055
- Other debts +€100,000
up €100,000, from €0 to €100,000
- Trade debts -€70,334
down €70,334 (-87.4%), from €80,470 to €10,136
- Current portion of long-term debt +€21,330
up €21,330 (+17.1%), from €125,083 to €146,413
- Gross operating margin +€122,488
up €122,488 (+104%), from €118,131 to €240,618
- Financial charges +€25,154
up €25,154 (+121%), from €20,850 to €46,004
- Depreciation +€19,932
up €19,932 (+50.2%), from €39,688 to €59,620
- Taxes -€2,476
down €2,476 (-73.0%), from €3,394 to €917
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 | €1,712,978 | €1,757,711 | +€44,733 | +2.6% |
| Fixed assets | 21/28 | €1,480,562 | €1,534,932 | +€54,370 | +3.7% |
| Tangible fixed assets | 22/27 | €1,464,062 | €1,518,432 | +€54,370 | +3.7% |
| Land and buildings | 22 | €1,464,062 | €1,518,432 | +€54,370 | +3.7% |
| Financial fixed assets | 28 | €16,500 | €16,500 | = | 0.0% |
| Current assets | 29/58 | €232,416 | €222,779 | -€9,637 | -4.1% |
| Amounts receivable within one year | 40/41 | €127,741 | €170,212 | +€42,472 | +33.2% |
| Trade receivables | 40 | €12,010 | €6,426 | -€5,584 | -46.5% |
| Other amounts receivable | 41 | €115,730 | €163,786 | +€48,055 | +41.5% |
| Cash at bank and in hand | 54/58 | €103,236 | €51,134 | -€52,103 | -50.5% |
| Deferred charges and accrued income | 490/1 | €1,439 | €1,433 | -€6 | -0.4% |
| Total equity and liabilities | 10/49 | €1,712,978 | €1,757,711 | +€44,733 | +2.6% |
| Equity | 10/15 | €295,966 | €298,486 | +€2,520 | +0.9% |
| Contributions | 10/11 | €268,600 | €268,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,366 | €29,886 | +€2,520 | +9.2% |
| Amounts payable | 17/49 | €1,417,013 | €1,459,225 | +€42,213 | +3.0% |
| Amounts payable after more than one year | 17 | €1,207,566 | €1,193,889 | -€13,677 | -1.1% |
| Financial debts | 170/4 | €1,207,566 | €1,193,889 | -€13,677 | -1.1% |
| Amounts payable within one year | 42/48 | €209,351 | €265,272 | +€55,921 | +26.7% |
| Current portion of amounts payable after more than one year | 42 | €125,083 | €146,413 | +€21,330 | +17.1% |
| Trade debts | 44 | €80,470 | €10,136 | -€70,334 | -87.4% |
| Suppliers | 440/4 | €80,470 | €10,136 | -€70,334 | -87.4% |
| Taxes, remuneration and social security | 45 | €3,798 | €8,723 | +€4,925 | +130% |
| Taxes | 450/3 | €3,798 | €8,723 | +€4,925 | +130% |
| Other amounts payable | 47/48 | €0 | €100,000 | +€100,000 | |
| Accrued charges and deferred income | 492/3 | €95 | €64 | -€32 | -33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,688 | €59,620 | +€19,932 | +50.2% |
| Other operating charges | 640/8 | €33,215 | €34,205 | +€990 | +3.0% |
| Gross operating margin | 9900 | €118,131 | €240,618 | +€122,488 | +104% |
| Operating profit (loss) | 9901 | €45,227 | €146,793 | +€101,566 | +225% |
| Financial income | 75/76B | €3,173 | €2,648 | -€525 | -16.5% |
| Recurring financial income | 75 | €3,173 | €2,648 | -€525 | -16.5% |
| Financial charges | 65/66B | €20,850 | €46,004 | +€25,154 | +121% |
| Recurring financial charges | 65 | €20,850 | €46,004 | +€25,154 | +121% |
| Profit (loss) for the period before taxes | 9903 | €27,550 | €103,437 | +€75,888 | +275% |
| Income taxes | 67/77 | €3,394 | €917 | -€2,476 | -73.0% |
| Profit (loss) for the period | 9904 | €24,156 | €102,520 | +€78,364 | +324% |
| Profit (loss) for the period to be appropriated | 9905 | €24,156 | €102,520 | +€78,364 | +324% |
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 17 October 2026 via checked.be.