PLAN B: 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 B
Largest movements
- Receivables within one year -€72,927
down €72,927 (-75.0%), from €97,191 to €24,264
of which Trade receivables: -€72,927
- Receivables after one year -€26,885
no longer reported in 2025 (was €26,885)
- Tangible fixed assets -€21,885
down €21,885 (-16.0%), from €137,036 to €115,151
of which Land and buildings: -€15,194
- Cash -€4,088
down €4,088 (-25.6%), from €15,973 to €11,885
mainly Net result for the year (-€111,572) and Debts after one year (-€17,488)
- Reserves -€57,719
down €57,719 (-59.7%), from €96,650 to €38,931
of which Distributable reserves: -€55,859
- Profit (loss) carried forward -€53,853
down €53,853 (-2,798%), from -€1,924 to -€55,777
- Debts after one year -€17,488
down €17,488 (-16.5%), from €106,166 to €88,678
- Other debts +€12,439
new in 2025: €12,439
- Tax, wage and social debts -€9,936
down €9,936 (-55.8%), from €17,792 to €7,856
- Gross operating margin -€121,893
down €121,893, from €36,687 to -€85,205
- Depreciation +€6,828
up €6,828 (+45.3%), from €15,057 to €21,885
- Taxes -€5,146
down €5,146 (-84.8%), from €6,066 to €920
- Financial income -€2,874
no longer reported in 2025 (was €2,874)
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 | €281,383 | €155,599 | -€125,785 | -44.7% |
| Fixed assets | 21/28 | €137,036 | €115,151 | -€21,885 | -16.0% |
| Tangible fixed assets | 22/27 | €137,036 | €115,151 | -€21,885 | -16.0% |
| Land and buildings | 22 | €122,027 | €106,833 | -€15,194 | -12.5% |
| Plant, machinery and equipment | 23 | €4,792 | €3,909 | -€883 | -18.4% |
| Furniture and vehicles | 24 | €10,217 | €4,409 | -€5,808 | -56.8% |
| Current assets | 29/58 | €144,348 | €40,448 | -€103,900 | -72.0% |
| Amounts receivable after more than one year | 29 | €26,885 | - | -€26,885 | |
| Other amounts receivable | 291 | €26,885 | - | -€26,885 | |
| Amounts receivable within one year | 40/41 | €97,191 | €24,264 | -€72,927 | -75.0% |
| Trade receivables | 40 | €97,096 | €24,170 | -€72,927 | -75.1% |
| Other amounts receivable | 41 | €94 | €94 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €15,973 | €11,885 | -€4,088 | -25.6% |
| Deferred charges and accrued income | 490/1 | €4,299 | €4,299 | = | 0.0% |
| Total equity and liabilities | 10/49 | €281,383 | €155,599 | -€125,785 | -44.7% |
| Equity | 10/15 | €138,345 | €26,772 | -€111,572 | -80.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Contributions outside capital | 11 | - | €6,200 | +€6,200 | |
| Other | 1109/19 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €96,650 | €38,931 | -€57,719 | -59.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Tax-exempt reserves | 132 | €24,922 | €24,922 | = | 0.0% |
| Distributable reserves | 133 | €69,869 | €14,009 | -€55,859 | -79.9% |
| Profit (loss) carried forward | 14 | -€1,924 | -€55,777 | -€53,853 | -2,798% |
| Investment grants | 15 | €37,419 | €37,419 | = | 0.0% |
| Amounts payable | 17/49 | €143,039 | €128,826 | -€14,212 | -9.9% |
| Amounts payable after more than one year | 17 | €106,166 | €88,678 | -€17,488 | -16.5% |
| Financial debts | 170/4 | €106,166 | €88,678 | -€17,488 | -16.5% |
| Amounts payable within one year | 42/48 | €36,873 | €40,149 | +€3,276 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €17,488 | €17,578 | +€89 | +0.5% |
| Trade debts | 44 | €1,592 | €2,276 | +€684 | +43.0% |
| Suppliers | 440/4 | €1,592 | €2,276 | +€684 | +43.0% |
| Taxes, remuneration and social security | 45 | €17,792 | €7,856 | -€9,936 | -55.8% |
| Taxes | 450/3 | €17,792 | €7,856 | -€9,936 | -55.8% |
| Other amounts payable | 47/48 | - | €12,439 | +€12,439 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,057 | €21,885 | +€6,828 | +45.3% |
| Other operating charges | 640/8 | €1,636 | €1,286 | -€350 | -21.4% |
| Gross operating margin | 9900 | €36,687 | -€85,205 | -€121,893 | |
| Operating profit (loss) | 9901 | €19,994 | -€108,376 | -€128,370 | |
| Financial income | 75/76B | €2,874 | - | -€2,874 | |
| Recurring financial income | 75 | €2,874 | - | -€2,874 | |
| Financial charges | 65/66B | €2,792 | €2,276 | -€516 | -18.5% |
| Recurring financial charges | 65 | €2,792 | €2,276 | -€516 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €20,075 | -€110,652 | -€130,728 | |
| Income taxes | 67/77 | €6,066 | €920 | -€5,146 | -84.8% |
| Profit (loss) for the period | 9904 | €14,009 | -€111,572 | -€125,582 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,009 | -€111,572 | -€125,582 |
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 23 October 2026 via checked.be.