PR 5: 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.
PR 5
Largest movements
- Cash +€74,692
up €74,692 (+1107.0%), from €6,747 to €81,440
mainly Other debts (+€205,848) and Depreciation (+€73,623)
- Tangible fixed assets -€73,623
down €73,623 (-10.9%), from €672,572 to €598,949
of which Land and buildings: -€72,563
- Debts after one year -€228,453
down €228,453 (-61.5%), from €371,250 to €142,797
of which Financial debts: -€228,453
- Other debts +€205,848
up €205,848 (+850.2%), from €24,212 to €230,061
- Reserves +€36,952
up €36,952 (+43.0%), from €86,000 to €122,952
of which Distributable reserves: +€33,102
- Current portion of long-term debt -€27,178
down €27,178 (-60.4%), from €45,000 to €17,822
- Investment grants +€16,824
up €16,824 (+370.9%), from €4,536 to €21,360
- Turnover -€153,038
no longer reported in 2025 (was €153,038)
- Purchases and services -€34,653
no longer reported in 2025 (was €34,653)
- Gross operating margin +€19,802
up €19,802 (+16.2%), from €122,112 to €141,913
- Financial charges +€8,084
up €8,084 (+50.7%), from €15,931 to €24,015
- Taxes +€3,086
up €3,086 (+113.0%), from €2,732 to €5,818
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 | €683,161 | €685,683 | +€2,522 | +0.4% |
| Fixed assets | 21/28 | €672,572 | €598,949 | -€73,623 | -10.9% |
| Tangible fixed assets | 22/27 | €672,572 | €598,949 | -€73,623 | -10.9% |
| Land and buildings | 22 | €667,177 | €594,614 | -€72,563 | -10.9% |
| Plant, machinery and equipment | 23 | €1,765 | €2,549 | +€784 | +44.4% |
| Furniture and vehicles | 24 | €2,256 | €772 | -€1,484 | -65.8% |
| Other tangible fixed assets | 26 | €1,374 | €1,014 | -€360 | -26.2% |
| Current assets | 29/58 | €10,589 | €86,734 | +€76,145 | +719.1% |
| Amounts receivable within one year | 40/41 | - | €992 | +€992 | |
| Other amounts receivable | 41 | - | €992 | +€992 | |
| Cash at bank and in hand | 54/58 | €6,747 | €81,440 | +€74,692 | +1107.0% |
| Deferred charges and accrued income | 490/1 | €3,842 | €4,302 | +€460 | +12.0% |
| Total equity and liabilities | 10/49 | €683,161 | €685,683 | +€2,522 | +0.4% |
| Equity | 10/15 | €227,234 | €272,440 | +€45,206 | +19.9% |
| Contributions | 10/11 | €85,000 | €85,000 | = | 0.0% |
| Capital | 10 | €85,000 | €85,000 | = | 0.0% |
| Issued capital | 100 | €85,000 | €85,000 | = | 0.0% |
| Reserves | 13 | €86,000 | €122,952 | +€36,952 | +43.0% |
| Non-distributable reserves | 130/1 | €4,650 | €8,500 | +€3,850 | +82.8% |
| Legal reserve | 130 | €4,650 | €8,500 | +€3,850 | +82.8% |
| Distributable reserves | 133 | €81,350 | €114,452 | +€33,102 | +40.7% |
| Profit (loss) carried forward | 14 | €51,698 | €43,128 | -€8,570 | -16.6% |
| Investment grants | 15 | €4,536 | €21,360 | +€16,824 | +370.9% |
| Amounts payable | 17/49 | €455,927 | €413,244 | -€42,684 | -9.4% |
| Amounts payable after more than one year | 17 | €371,250 | €142,797 | -€228,453 | -61.5% |
| Financial debts | 170/4 | €348,750 | €120,297 | -€228,453 | -65.5% |
| Other amounts payable | 178/9 | €22,500 | €22,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €84,677 | €260,014 | +€175,336 | +207.1% |
| Current portion of amounts payable after more than one year | 42 | €45,000 | €17,822 | -€27,178 | -60.4% |
| Trade debts | 44 | €982 | €180 | -€802 | -81.7% |
| Suppliers | 440/4 | €982 | €180 | -€802 | -81.7% |
| Taxes, remuneration and social security | 45 | €14,483 | €11,951 | -€2,532 | -17.5% |
| Taxes | 450/3 | €14,483 | €11,951 | -€2,532 | -17.5% |
| Other amounts payable | 47/48 | €24,212 | €230,061 | +€205,848 | +850.2% |
| Accrued charges and deferred income | 492/3 | - | €10,433 | +€10,433 | |
| Turnover | 70 | €153,038 | - | -€153,038 | |
| Goods, raw materials, services and sundry goods | 60/61 | €34,653 | - | -€34,653 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,734 | €73,623 | +€889 | +1.2% |
| Other operating charges | 640/8 | €12,863 | €13,027 | +€164 | +1.3% |
| Gross operating margin | 9900 | €122,112 | €141,913 | +€19,802 | +16.2% |
| Operating profit (loss) | 9901 | €36,515 | €55,264 | +€18,749 | +51.3% |
| Financial income | 75/76B | €5,330 | €7,671 | +€2,342 | +43.9% |
| Recurring financial income | 75 | €5,330 | €7,671 | +€2,342 | +43.9% |
| Financial charges | 65/66B | €15,931 | €24,015 | +€8,084 | +50.7% |
| Recurring financial charges | 65 | €15,931 | €24,015 | +€8,084 | +50.7% |
| Profit (loss) for the period before taxes | 9903 | €25,914 | €38,920 | +€13,006 | +50.2% |
| Income taxes | 67/77 | €2,732 | €5,818 | +€3,086 | +113.0% |
| Profit (loss) for the period | 9904 | €23,182 | €33,102 | +€9,920 | +42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €23,182 | €33,102 | +€9,920 | +42.8% |
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 12 October 2026 via checked.be.