PORTFOLIO: 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.
PORTFOLIO
Largest movements
- Tangible fixed assets -€259,707
down €259,707 (-97.9%), from €265,191 to €5,484
of which Land and buildings: -€253,728
- Receivables within one year +€15,647
up €15,647 (+124%), from €12,574 to €28,220
of which Trade receivables: +€16,507
- Debts after one year -€224,159
down €224,159 (-91.2%), from €245,659 to €21,500
- Current portion of long-term debt -€13,370
down €13,370 (-100%), from €13,370 to €0
- Short-term financial debts -€13,049
down €13,049 (-52.3%), from €24,952 to €11,902
- Trade debts +€4,158
up €4,158 (+525%), from €792 to €4,951
- Depreciation -€11,194
down €11,194 (-82.9%), from €13,497 to €2,303
- Gross operating margin -€8,813
down €8,813 (-32.6%), from €26,999 to €18,186
- Financial charges +€2,875
up €2,875 (+39.1%), from €7,356 to €10,231
of which Financial charges: +€2,875
- Other operating charges +€2,428
up €2,428 (+114%), from €2,136 to €4,564
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 | €279,435 | €34,831 | -€244,604 | -87.5% |
| Fixed assets | 21/28 | €265,464 | €5,666 | -€259,798 | -97.9% |
| Intangible fixed assets | 21 | €273 | €182 | -€91 | -33.3% |
| Tangible fixed assets | 22/27 | €265,191 | €5,484 | -€259,707 | -97.9% |
| Land and buildings | 22 | €253,728 | €0 | -€253,728 | -100% |
| Plant, machinery and equipment | 23 | €1,419 | €682 | -€737 | -51.9% |
| Furniture and vehicles | 24 | €10,044 | €4,802 | -€5,242 | -52.2% |
| Current assets | 29/58 | €13,971 | €29,165 | +€15,194 | +109% |
| Stocks and contracts in progress | 3 | €996 | €0 | -€996 | -100% |
| Stocks | 30/36 | €996 | €0 | -€996 | -100% |
| Amounts receivable within one year | 40/41 | €12,574 | €28,220 | +€15,647 | +124% |
| Trade receivables | 40 | €10,696 | €27,203 | +€16,507 | +154% |
| Other amounts receivable | 41 | €1,877 | €1,017 | -€860 | -45.8% |
| Cash at bank and in hand | 54/58 | €402 | €0 | -€402 | -100% |
| Deferred charges and accrued income | 490/1 | €0 | €944 | +€944 | |
| Total equity and liabilities | 10/49 | €279,435 | €34,831 | -€244,604 | -87.5% |
| Equity | 10/15 | -€11,466 | -€10,378 | +€1,089 | +9.5% |
| Contributions | 10/11 | €68,000 | €68,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,466 | -€78,378 | +€1,089 | +1.4% |
| Amounts payable | 17/49 | €290,902 | €45,208 | -€245,693 | -84.5% |
| Amounts payable after more than one year | 17 | €245,659 | €21,500 | -€224,159 | -91.2% |
| Financial debts | 170/4 | €245,659 | €21,500 | -€224,159 | -91.2% |
| Amounts payable within one year | 42/48 | €45,242 | €23,708 | -€21,534 | -47.6% |
| Current portion of amounts payable after more than one year | 42 | €13,370 | €0 | -€13,370 | -100% |
| Financial debts | 43 | €24,952 | €11,902 | -€13,049 | -52.3% |
| Credit institutions | 430/8 | €24,952 | €11,902 | -€13,049 | -52.3% |
| Trade debts | 44 | €792 | €4,951 | +€4,158 | +525% |
| Suppliers | 440/4 | €792 | €4,951 | +€4,158 | +525% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,128 | €6,856 | +€728 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,497 | €2,303 | -€11,194 | -82.9% |
| Other operating charges | 640/8 | €2,136 | €4,564 | +€2,428 | +114% |
| Gross operating margin | 9900 | €26,999 | €18,186 | -€8,813 | -32.6% |
| Operating profit (loss) | 9901 | €11,366 | €11,320 | -€46 | -0.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €7,356 | €10,231 | +€2,875 | +39.1% |
| Recurring financial charges | 65 | €7,356 | €10,231 | +€2,875 | +39.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €4,010 | €1,089 | -€2,921 | -72.8% |
| Profit (loss) for the period | 9904 | €4,010 | €1,089 | -€2,921 | -72.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,010 | €1,089 | -€2,921 | -72.8% |
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 23 October 2026 via checked.be.