PLAN P: 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 P
Largest movements
- Tangible fixed assets +€95,710
up €95,710 (+139%), from €68,939 to €164,649
of which Land and buildings: +€120,980
- Cash +€8,480
up €8,480 (+221%), from €3,845 to €12,325
mainly Debts after one year (+€89,347) and Depreciation (+€29,565)
- Stocks and contracts -€4,219
down €4,219 (-29.3%), from €14,417 to €10,198
- Receivables within one year -€3,585
down €3,585 (-46.7%), from €7,682 to €4,097
of which Other amounts receivable: -€6,747
- Debts after one year +€89,347
up €89,347 (+153%), from €58,470 to €147,818
of which Financial debts: +€114,347
- Other debts +€24,841
new in 2025: €24,841
- Profit (loss) carried forward -€19,678
down €19,678, from €19,130 to -€548
- Current portion of long-term debt +€5,149
up €5,149 (+132%), from €3,913 to €9,061
- Tax, wage and social debts -€4,198
down €4,198 (-49.3%), from €8,522 to €4,324
- Gross operating margin -€27,530
down €27,530 (-61.3%), from €44,936 to €17,406
- Depreciation +€9,664
up €9,664 (+48.6%), from €19,901 to €29,565
- Taxes -€6,306
down €6,306, from €6,268 to -€38
- Financial charges +€3,120
up €3,120 (+341%), from €914 to €4,033
- Other operating charges +€1,520
up €1,520 (+74.4%), from €2,044 to €3,564
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 | €96,235 | €192,775 | +€96,540 | +100% |
| Fixed assets | 21/28 | €70,056 | €165,766 | +€95,710 | +137% |
| Tangible fixed assets | 22/27 | €68,939 | €164,649 | +€95,710 | +139% |
| Land and buildings | 22 | €43,376 | €164,356 | +€120,980 | +279% |
| Plant, machinery and equipment | 23 | €21,933 | €293 | -€21,640 | -98.7% |
| Furniture and vehicles | 24 | €3,630 | - | -€3,630 | |
| Financial fixed assets | 28 | €1,117 | €1,117 | = | 0.0% |
| Current assets | 29/58 | €26,179 | €27,009 | +€830 | +3.2% |
| Stocks and contracts in progress | 3 | €14,417 | €10,198 | -€4,219 | -29.3% |
| Stocks | 30/36 | €14,417 | €10,198 | -€4,219 | -29.3% |
| Amounts receivable within one year | 40/41 | €7,682 | €4,097 | -€3,585 | -46.7% |
| Trade receivables | 40 | €935 | €4,097 | +€3,162 | +338% |
| Other amounts receivable | 41 | €6,747 | - | -€6,747 | |
| Cash at bank and in hand | 54/58 | €3,845 | €12,325 | +€8,480 | +221% |
| Deferred charges and accrued income | 490/1 | €236 | €389 | +€154 | +65.1% |
| Total equity and liabilities | 10/49 | €96,235 | €192,775 | +€96,540 | +100% |
| Equity | 10/15 | €25,330 | €5,652 | -€19,678 | -77.7% |
| 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 | |
| Profit (loss) carried forward | 14 | €19,130 | -€548 | -€19,678 | |
| Amounts payable | 17/49 | €70,905 | €187,123 | +€116,218 | +164% |
| Amounts payable after more than one year | 17 | €58,470 | €147,818 | +€89,347 | +153% |
| Financial debts | 170/4 | €33,470 | €147,818 | +€114,347 | +342% |
| Other amounts payable | 178/9 | €25,000 | - | -€25,000 | |
| Amounts payable within one year | 42/48 | €12,435 | €39,305 | +€26,870 | +216% |
| Current portion of amounts payable after more than one year | 42 | €3,913 | €9,061 | +€5,149 | +132% |
| Trade debts | 44 | - | €254 | +€254 | |
| Suppliers | 440/4 | - | €254 | +€254 | |
| Advances received on contracts in progress | 46 | - | €825 | +€825 | |
| Taxes, remuneration and social security | 45 | €8,522 | €4,324 | -€4,198 | -49.3% |
| Taxes | 450/3 | €8,522 | €4,324 | -€4,198 | -49.3% |
| Other amounts payable | 47/48 | - | €24,841 | +€24,841 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,901 | €29,565 | +€9,664 | +48.6% |
| Other operating charges | 640/8 | €2,044 | €3,564 | +€1,520 | +74.4% |
| Gross operating margin | 9900 | €44,936 | €17,406 | -€27,530 | -61.3% |
| Operating profit (loss) | 9901 | €22,991 | -€15,723 | -€38,714 | |
| Financial income | 75/76B | €0 | €41 | +€41 | +405,100% |
| Recurring financial income | 75 | €0 | €41 | +€41 | +405,100% |
| Financial charges | 65/66B | €914 | €4,033 | +€3,120 | +341% |
| Recurring financial charges | 65 | €914 | €4,033 | +€3,120 | +341% |
| Profit (loss) for the period before taxes | 9903 | €22,078 | -€19,716 | -€41,793 | |
| Income taxes | 67/77 | €6,268 | -€38 | -€6,306 | |
| Profit (loss) for the period | 9904 | €15,809 | -€19,678 | -€35,487 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,809 | -€19,678 | -€35,487 |
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 18 October 2026 via checked.be.