POINT DU JOUR: 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.
POINT DU JOUR
Largest movements
- Receivables after one year +€97,500
up €97,500 (+113%), from €86,479 to €183,979
- Tangible fixed assets +€72,126
up €72,126 (+14.4%), from €499,316 to €571,442
of which Land and buildings: +€72,294
- Cash +€41,592
up €41,592 (+17.5%), from €237,603 to €279,195
mainly Debts after one year (+€157,500) and Depreciation (+€48,117)
- Debts after one year +€157,500
up €157,500 (+788%), from €20,000 to €177,500
of which Financial debts: +€105,000
- Trade debts +€20,133
up €20,133 (+96.7%), from €20,825 to €40,958
of which Suppliers: +€13,133
- Depreciation +€5,573
up €5,573 (+13.1%), from €42,544 to €48,117
- Write-downs -€4,750
no longer reported in 2025 (was €4,750)
- Gross operating margin -€3,564
down €3,564 (-4.6%), from €78,050 to €74,486
- Other operating charges -€2,383
down €2,383 (-16.2%), from €14,684 to €12,301
- Provisions -€1,750
down €1,750 (-13.5%), from €13,000 to €11,250
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 | €1,237,610 | €1,450,406 | +€212,796 | +17.2% |
| Fixed assets | 21/28 | €749,316 | €821,442 | +€72,126 | +9.6% |
| Tangible fixed assets | 22/27 | €499,316 | €571,442 | +€72,126 | +14.4% |
| Land and buildings | 22 | €498,981 | €571,275 | +€72,294 | +14.5% |
| Furniture and vehicles | 24 | €335 | €167 | -€168 | -50.1% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €488,294 | €628,964 | +€140,670 | +28.8% |
| Amounts receivable after more than one year | 29 | €86,479 | €183,979 | +€97,500 | +113% |
| Trade receivables | 290 | €86,479 | €183,979 | +€97,500 | +113% |
| Amounts receivable within one year | 40/41 | €7,222 | €8,800 | +€1,578 | +21.8% |
| Trade receivables | 40 | €3,021 | €4,618 | +€1,597 | +52.9% |
| Other amounts receivable | 41 | €4,201 | €4,182 | -€19 | -0.5% |
| Current investments | 50/53 | €150,000 | €150,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €237,603 | €279,195 | +€41,592 | +17.5% |
| Deferred charges and accrued income | 490/1 | €6,990 | €6,990 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,237,610 | €1,450,406 | +€212,796 | +17.2% |
| Equity | 10/15 | €1,006,767 | €1,012,643 | +€5,876 | +0.6% |
| Contributions | 10/11 | €620,000 | €620,000 | = | 0.0% |
| Capital | 10 | €620,000 | €620,000 | = | 0.0% |
| Issued capital | 100 | €620,000 | €620,000 | = | 0.0% |
| Revaluation surpluses | 12 | €106,364 | €106,364 | = | 0.0% |
| Reserves | 13 | €272,000 | €286,000 | +€14,000 | +5.1% |
| Non-distributable reserves | 130/1 | €62,000 | €62,000 | = | 0.0% |
| Legal reserve | 130 | €62,000 | €62,000 | = | 0.0% |
| Distributable reserves | 133 | €210,000 | €224,000 | +€14,000 | +6.7% |
| Profit (loss) carried forward | 14 | €8,403 | €279 | -€8,124 | -96.7% |
| Provisions and deferred taxes | 16 | €107,200 | €118,450 | +€11,250 | +10.5% |
| Provisions for liabilities and charges | 160/5 | €107,200 | €118,450 | +€11,250 | +10.5% |
| Major repairs and maintenance | 162 | €23,700 | €64,950 | +€41,250 | +174% |
| Environmental obligations | 163 | €83,500 | €53,500 | -€30,000 | -35.9% |
| Amounts payable | 17/49 | €123,643 | €319,313 | +€195,670 | +158% |
| Amounts payable after more than one year | 17 | €20,000 | €177,500 | +€157,500 | +788% |
| Financial debts | 170/4 | €20,000 | €125,000 | +€105,000 | +525% |
| Other amounts payable | 178/9 | - | €52,500 | +€52,500 | |
| Amounts payable within one year | 42/48 | €92,195 | €122,298 | +€30,103 | +32.7% |
| Trade debts | 44 | €20,825 | €40,958 | +€20,133 | +96.7% |
| Suppliers | 440/4 | €2,825 | €15,958 | +€13,133 | +465% |
| Bills of exchange payable | 441 | €18,000 | €25,000 | +€7,000 | +38.9% |
| Taxes, remuneration and social security | 45 | €17,220 | €14,808 | -€2,412 | -14.0% |
| Taxes | 450/3 | €17,220 | €13,810 | -€3,410 | -19.8% |
| Remuneration and social security | 454/9 | - | €998 | +€998 | |
| Other amounts payable | 47/48 | €54,150 | €66,532 | +€12,382 | +22.9% |
| Accrued charges and deferred income | 492/3 | €11,448 | €19,515 | +€8,067 | +70.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,544 | €48,117 | +€5,573 | +13.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,750 | - | -€4,750 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €13,000 | €11,250 | -€1,750 | -13.5% |
| Other operating charges | 640/8 | €14,684 | €12,301 | -€2,383 | -16.2% |
| Gross operating margin | 9900 | €78,050 | €74,486 | -€3,564 | -4.6% |
| Operating profit (loss) | 9901 | €3,072 | €2,818 | -€254 | -8.3% |
| Financial income | 75/76B | €6,627 | €6,629 | +€2 | 0.0% |
| Recurring financial income | 75 | €6,627 | €6,629 | +€2 | 0.0% |
| Non-recurring financial income | 76B | - | €6,629 | +€6,629 | |
| Financial charges | 65/66B | €1,146 | €1,179 | +€33 | +2.9% |
| Recurring financial charges | 65 | €1,146 | €1,179 | +€33 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €8,553 | €8,268 | -€285 | -3.3% |
| Income taxes | 67/77 | €2,348 | €2,392 | +€44 | +1.9% |
| Profit (loss) for the period | 9904 | €6,205 | €5,876 | -€329 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,205 | €5,876 | -€329 | -5.3% |
Source: filed annual accounts (NBB), financial years ended 20 December 2024 and 20 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.