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
- Tangible fixed assets -€37,691
down €37,691 (-28.3%), from €133,042 to €95,351
of which Land and buildings: -€23,950
- Receivables within one year -€18,250
down €18,250 (-45.5%), from €40,102 to €21,852
of which Other amounts receivable: -€17,375
- Stocks and contracts -€2,640
down €2,640 (-21.8%), from €12,090 to €9,450
- Profit (loss) carried forward -€36,209
down €36,209 (-17.9%), from -€202,466 to -€238,674
- Debts after one year -€25,930
down €25,930 (-43.5%), from €59,661 to €33,731
- Other debts +€2,354
up €2,354 (+11.7%), from €20,048 to €22,402
- Tax, wage and social debts -€2,243
down €2,243 (-36.4%), from €6,155 to €3,913
- Gross operating margin +€22,499
up €22,499, from -€13,506 to €8,993
- Financial charges -€1,078
down €1,078 (-18.7%), from €5,768 to €4,690
- Other operating charges -€1,065
down €1,065 (-18.2%), from €5,843 to €4,778
- Financial income -€748
down €748 (-27.8%), from €2,686 to €1,939
- Taxes -€432
down €432, from €414 to -€18
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 | €195,499 | €133,154 | -€62,345 | -31.9% |
| Fixed assets | 21/28 | €134,720 | €97,029 | -€37,691 | -28.0% |
| Tangible fixed assets | 22/27 | €133,042 | €95,351 | -€37,691 | -28.3% |
| Land and buildings | 22 | €94,620 | €70,670 | -€23,950 | -25.3% |
| Plant, machinery and equipment | 23 | €16,298 | €10,781 | -€5,518 | -33.9% |
| Leasing and similar rights | 25 | €22,124 | €13,900 | -€8,223 | -37.2% |
| Financial fixed assets | 28 | €1,678 | €1,678 | = | 0.0% |
| Current assets | 29/58 | €60,779 | €36,124 | -€24,654 | -40.6% |
| Stocks and contracts in progress | 3 | €12,090 | €9,450 | -€2,640 | -21.8% |
| Stocks | 30/36 | €12,090 | €9,450 | -€2,640 | -21.8% |
| Amounts receivable within one year | 40/41 | €40,102 | €21,852 | -€18,250 | -45.5% |
| Trade receivables | 40 | €2,254 | €1,379 | -€875 | -38.8% |
| Other amounts receivable | 41 | €37,848 | €20,473 | -€17,375 | -45.9% |
| Cash at bank and in hand | 54/58 | €5,802 | €3,982 | -€1,820 | -31.4% |
| Deferred charges and accrued income | 490/1 | €2,785 | €840 | -€1,945 | -69.8% |
| Total equity and liabilities | 10/49 | €195,499 | €133,154 | -€62,345 | -31.9% |
| Equity | 10/15 | €78,416 | €42,207 | -€36,209 | -46.2% |
| Contributions | 10/11 | €111,500 | €111,500 | = | 0.0% |
| Reserves | 13 | €169,382 | €169,382 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,390 | €12,390 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,390 | €12,390 | = | 0.0% |
| Distributable reserves | 133 | €156,992 | €156,992 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€202,466 | -€238,674 | -€36,209 | -17.9% |
| Amounts payable | 17/49 | €117,083 | €90,946 | -€26,136 | -22.3% |
| Amounts payable after more than one year | 17 | €59,661 | €33,731 | -€25,930 | -43.5% |
| Financial debts | 170/4 | €59,661 | €33,731 | -€25,930 | -43.5% |
| Amounts payable within one year | 42/48 | €57,422 | €57,215 | -€206 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €24,681 | €25,930 | +€1,249 | +5.1% |
| Trade debts | 44 | €6,537 | €4,970 | -€1,567 | -24.0% |
| Suppliers | 440/4 | €6,537 | €4,970 | -€1,567 | -24.0% |
| Taxes, remuneration and social security | 45 | €6,155 | €3,913 | -€2,243 | -36.4% |
| Taxes | 450/3 | €6,155 | €3,913 | -€2,243 | -36.4% |
| Other amounts payable | 47/48 | €20,048 | €22,402 | +€2,354 | +11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,691 | €37,691 | = | 0.0% |
| Other operating charges | 640/8 | €5,843 | €4,778 | -€1,065 | -18.2% |
| Gross operating margin | 9900 | -€13,506 | €8,993 | +€22,499 | |
| Operating profit (loss) | 9901 | -€57,039 | -€33,476 | +€23,563 | +41.3% |
| Financial income | 75/76B | €2,686 | €1,939 | -€748 | -27.8% |
| Recurring financial income | 75 | €2,686 | €1,939 | -€748 | -27.8% |
| Financial charges | 65/66B | €5,768 | €4,690 | -€1,078 | -18.7% |
| Recurring financial charges | 65 | €5,768 | €4,690 | -€1,078 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | -€60,121 | -€36,227 | +€23,894 | +39.7% |
| Income taxes | 67/77 | €414 | -€18 | -€432 | |
| Profit (loss) for the period | 9904 | -€60,535 | -€36,209 | +€24,326 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€60,535 | -€36,209 | +€24,326 | +40.2% |
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 10 October 2026 via checked.be.