plan b: 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.
plan b
Largest movements
- Current investments -€24,698
down €24,698 (-24.9%), from €99,122 to €74,423
- Tangible fixed assets -€14,463
down €14,463 (-6.2%), from €233,753 to €219,290
of which Land and buildings: -€19,481
- Receivables within one year +€6,715
up €6,715 (+15.3%), from €43,911 to €50,626
of which Trade receivables: +€22,545
- Other debts -€89,280
down €89,280 (-43.2%), from €206,510 to €117,229
- Profit (loss) carried forward +€40,553
up €40,553 (+39.3%), from -€103,135 to -€62,583
- Trade debts +€28,524
up €28,524, from €0 to €28,524
- Debts after one year -€24,800
down €24,800 (-22.2%), from €111,600 to €86,800
- Advances received +€5,625
up €5,625 (+45.9%), from €12,250 to €17,875
- Gross operating margin +€170,001
up €170,001, from -€82,942 to €87,060
- Financial income -€26,790
down €26,790 (-98.1%), from €27,311 to €521
- Financial charges +€2,638
up €2,638 (+18.4%), from €14,306 to €16,944
- Depreciation -€1,094
down €1,094 (-4.1%), from €26,675 to €25,581
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 | €521,690 | €484,143 | -€37,546 | -7.2% |
| Fixed assets | 21/28 | €234,753 | €220,290 | -€14,463 | -6.2% |
| Tangible fixed assets | 22/27 | €233,753 | €219,290 | -€14,463 | -6.2% |
| Land and buildings | 22 | €193,418 | €173,937 | -€19,481 | -10.1% |
| Plant, machinery and equipment | 23 | €979 | €383 | -€597 | -60.9% |
| Furniture and vehicles | 24 | €7,698 | €8,279 | +€582 | +7.6% |
| Other tangible fixed assets | 26 | €31,659 | €36,691 | +€5,033 | +15.9% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €286,936 | €263,853 | -€23,083 | -8.0% |
| Amounts receivable after more than one year | 29 | €3,720 | €3,720 | = | 0.0% |
| Other amounts receivable | 291 | €3,720 | €3,720 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €43,911 | €50,626 | +€6,715 | +15.3% |
| Trade receivables | 40 | €3,350 | €25,894 | +€22,545 | +673.1% |
| Other amounts receivable | 41 | €40,562 | €24,731 | -€15,830 | -39.0% |
| Current investments | 50/53 | €99,122 | €74,423 | -€24,698 | -24.9% |
| Cash at bank and in hand | 54/58 | €139,832 | €135,084 | -€4,748 | -3.4% |
| Deferred charges and accrued income | 490/1 | €351 | €0 | -€351 | -100.0% |
| Total equity and liabilities | 10/49 | €521,690 | €484,143 | -€37,546 | -7.2% |
| Equity | 10/15 | €162,941 | €203,493 | +€40,553 | +24.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €247,476 | €247,476 | = | 0.0% |
| Distributable reserves | 133 | €247,476 | €247,476 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€103,135 | -€62,583 | +€40,553 | +39.3% |
| Amounts payable | 17/49 | €358,749 | €280,650 | -€78,099 | -21.8% |
| Amounts payable after more than one year | 17 | €111,600 | €86,800 | -€24,800 | -22.2% |
| Financial debts | 170/4 | €111,600 | €86,800 | -€24,800 | -22.2% |
| Amounts payable within one year | 42/48 | €247,149 | €193,700 | -€53,449 | -21.6% |
| Current portion of amounts payable after more than one year | 42 | €24,800 | €24,800 | = | 0.0% |
| Trade debts | 44 | €0 | €28,524 | +€28,524 | |
| Suppliers | 440/4 | €0 | €28,524 | +€28,524 | |
| Advances received on contracts in progress | 46 | €12,250 | €17,875 | +€5,625 | +45.9% |
| Taxes, remuneration and social security | 45 | €3,589 | €5,271 | +€1,682 | +46.9% |
| Taxes | 450/3 | €3,589 | €5,271 | +€1,682 | +46.9% |
| Other amounts payable | 47/48 | €206,510 | €117,229 | -€89,280 | -43.2% |
| Accrued charges and deferred income | 492/3 | - | €150 | +€150 | |
| Non-recurring operating income | 76A | €0 | €0 | -€0 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,675 | €25,581 | -€1,094 | -4.1% |
| Other operating charges | 640/8 | €3,981 | €3,946 | -€35 | -0.9% |
| Non-recurring operating charges | 66A | - | €556 | +€556 | |
| Gross operating margin | 9900 | -€82,942 | €87,060 | +€170,001 | |
| Operating profit (loss) | 9901 | -€113,597 | €56,976 | +€170,574 | |
| Financial income | 75/76B | €27,311 | €521 | -€26,790 | -98.1% |
| Recurring financial income | 75 | €27,311 | €521 | -€26,790 | -98.1% |
| Financial charges | 65/66B | €14,306 | €16,944 | +€2,638 | +18.4% |
| Recurring financial charges | 65 | €14,306 | €16,944 | +€2,638 | +18.4% |
| Profit (loss) for the period before taxes | 9903 | -€100,593 | €40,553 | +€141,145 | |
| Profit (loss) for the period | 9904 | -€100,593 | €40,553 | +€141,145 | |
| Profit (loss) for the period to be appropriated | 9905 | -€100,593 | €40,553 | +€141,145 |
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 3 October 2026 via checked.be.