PLUS-VALUES: 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.
PLUS-VALUES
Largest movements
- Receivables within one year -€34,125
down €34,125 (-8.3%), from €410,848 to €376,723
of which Trade receivables: -€34,044
- Accrued charges and deferred income +€26,387
up €26,387 (+9.9%), from €265,199 to €291,586
- Tax, wage and social debts -€25,812
down €25,812 (-92.8%), from €27,814 to €2,003
of which Remuneration and social security: -€15,047
- Profit (loss) carried forward -€24,850
down €24,850 (-22.2%), from €112,039 to €87,189
- Gross operating margin -€147,455
down €147,455 (-97.6%), from €151,131 to €3,676
- Staff costs -€104,903
no longer reported in 2025 (was €104,903)
- Depreciation -€9,589
no longer reported in 2025 (was €9,589)
- Financial charges -€4,011
down €4,011 (-12.6%), from €31,743 to €27,731
- Taxes -€2,658
no longer reported in 2025 (was €2,658)
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 | €1,945,736 | €1,900,386 | -€45,351 | -2.3% |
| Fixed assets | 21/28 | €1,534,113 | €1,522,500 | -€11,613 | -0.8% |
| Tangible fixed assets | 22/27 | €11,585 | - | -€11,585 | |
| Furniture and vehicles | 24 | €11,585 | - | -€11,585 | |
| Financial fixed assets | 28 | €1,522,528 | €1,522,500 | -€28 | 0.0% |
| Current assets | 29/58 | €411,623 | €377,886 | -€33,737 | -8.2% |
| Amounts receivable within one year | 40/41 | €410,848 | €376,723 | -€34,125 | -8.3% |
| Trade receivables | 40 | €410,767 | €376,723 | -€34,044 | -8.3% |
| Other amounts receivable | 41 | €81 | - | -€81 | |
| Cash at bank and in hand | 54/58 | €400 | €767 | +€368 | +92.0% |
| Deferred charges and accrued income | 490/1 | €376 | €395 | +€20 | +5.3% |
| Total equity and liabilities | 10/49 | €1,945,736 | €1,900,386 | -€45,351 | -2.3% |
| Equity | 10/15 | €1,245,949 | €1,221,099 | -€24,850 | -2.0% |
| Contributions | 10/11 | €375,000 | €375,000 | = | 0.0% |
| Capital | 10 | €375,000 | €375,000 | = | 0.0% |
| Issued capital | 100 | €375,000 | €375,000 | = | 0.0% |
| Reserves | 13 | €758,910 | €758,910 | = | 0.0% |
| Non-distributable reserves | 130/1 | €37,500 | €37,500 | = | 0.0% |
| Legal reserve | 130 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €721,410 | €721,410 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,039 | €87,189 | -€24,850 | -22.2% |
| Amounts payable | 17/49 | €699,787 | €679,286 | -€20,501 | -2.9% |
| Amounts payable after more than one year | 17 | €2,221 | - | -€2,221 | |
| Financial debts | 170/4 | €2,221 | - | -€2,221 | |
| Amounts payable within one year | 42/48 | €432,367 | €387,700 | -€44,666 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €8,829 | €2,221 | -€6,608 | -74.8% |
| Trade debts | 44 | €17,137 | €3,090 | -€14,048 | -82.0% |
| Suppliers | 440/4 | €17,137 | €3,090 | -€14,048 | -82.0% |
| Taxes, remuneration and social security | 45 | €27,814 | €2,003 | -€25,812 | -92.8% |
| Taxes | 450/3 | €12,768 | €2,003 | -€10,765 | -84.3% |
| Remuneration and social security | 454/9 | €15,047 | - | -€15,047 | |
| Other amounts payable | 47/48 | €378,586 | €380,387 | +€1,801 | +0.5% |
| Accrued charges and deferred income | 492/3 | €265,199 | €291,586 | +€26,387 | +9.9% |
| Non-recurring operating income | 76A | - | €8,832 | +€8,832 | |
| Remuneration, social security and pensions | 62 | €104,903 | - | -€104,903 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,589 | - | -€9,589 | |
| Other operating charges | 640/8 | €1,476 | €795 | -€682 | -46.2% |
| Gross operating margin | 9900 | €151,131 | €3,676 | -€147,455 | -97.6% |
| Operating profit (loss) | 9901 | €35,163 | €2,881 | -€32,281 | -91.8% |
| Financial charges | 65/66B | €31,743 | €27,731 | -€4,011 | -12.6% |
| Recurring financial charges | 65 | €31,743 | €27,731 | -€4,011 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €3,420 | -€24,850 | -€28,270 | |
| Income taxes | 67/77 | €2,658 | - | -€2,658 | |
| Profit (loss) for the period | 9904 | €762 | -€24,850 | -€25,612 | |
| Profit (loss) for the period to be appropriated | 9905 | €762 | -€24,850 | -€25,612 |
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 26 October 2026 via checked.be.