Property B: 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.
Property B
Largest movements
- Stocks and contracts +€426,880
up €426,880 (+121.2%), from €352,338 to €779,218
- Cash -€79,876
down €79,876 (-43.9%), from €182,083 to €102,208
mainly Stocks and contracts (-€426,880) and Receivables within one year (-€2,430)
- Debts after one year +€310,000
up €310,000 (+106.6%), from €290,788 to €600,788
- Reserves +€32,499
up €32,499 (+36.8%), from €88,305 to €120,804
- Other operating charges +€40,663
up €40,663 (+934.0%), from €4,354 to €45,017
- Taxes -€8,913
down €8,913 (-52.3%), from €17,038 to €8,125
- Gross operating margin -€5,673
down €5,673 (-5.4%), from €104,866 to €99,193
- Financial charges -€1,785
down €1,785 (-11.6%), from €15,337 to €13,553
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 | €534,421 | €884,951 | +€350,530 | +65.6% |
| Current assets | 29/58 | €534,421 | €884,951 | +€350,530 | +65.6% |
| Stocks and contracts in progress | 3 | €352,338 | €779,218 | +€426,880 | +121.2% |
| Stocks | 30/36 | €352,338 | €779,218 | +€426,880 | +121.2% |
| Amounts receivable within one year | 40/41 | - | €2,430 | +€2,430 | |
| Trade receivables | 40 | - | €2,430 | +€2,430 | |
| Cash at bank and in hand | 54/58 | €182,083 | €102,208 | -€79,876 | -43.9% |
| Deferred charges and accrued income | 490/1 | - | €1,096 | +€1,096 | |
| Total equity and liabilities | 10/49 | €534,421 | €884,951 | +€350,530 | +65.6% |
| Equity | 10/15 | €223,305 | €255,804 | +€32,499 | +14.6% |
| Contributions | 10/11 | €135,000 | €135,000 | = | 0.0% |
| Reserves | 13 | €88,305 | €120,804 | +€32,499 | +36.8% |
| Distributable reserves | 133 | €88,305 | €120,804 | +€32,499 | +36.8% |
| Amounts payable | 17/49 | €311,116 | €629,147 | +€318,031 | +102.2% |
| Amounts payable after more than one year | 17 | €290,788 | €600,788 | +€310,000 | +106.6% |
| Financial debts | 170/4 | €290,788 | €600,788 | +€310,000 | +106.6% |
| Amounts payable within one year | 42/48 | €19,578 | €27,609 | +€8,031 | +41.0% |
| Trade debts | 44 | €2,541 | €2,438 | -€103 | -4.1% |
| Suppliers | 440/4 | €2,541 | €2,438 | -€103 | -4.1% |
| Taxes, remuneration and social security | 45 | €17,037 | €25,162 | +€8,125 | +47.7% |
| Taxes | 450/3 | €17,037 | €25,162 | +€8,125 | +47.7% |
| Other amounts payable | 47/48 | €0 | €9 | +€9 | |
| Accrued charges and deferred income | 492/3 | €750 | €750 | = | 0.0% |
| Other operating charges | 640/8 | €4,354 | €45,017 | +€40,663 | +934.0% |
| Gross operating margin | 9900 | €104,866 | €99,193 | -€5,673 | -5.4% |
| Operating profit (loss) | 9901 | €100,512 | €54,177 | -€46,336 | -46.1% |
| Financial income | 75/76B | €12 | €0 | -€12 | -100.0% |
| Recurring financial income | 75 | €12 | €0 | -€12 | -100.0% |
| Financial charges | 65/66B | €15,337 | €13,553 | -€1,785 | -11.6% |
| Recurring financial charges | 65 | €15,337 | €13,553 | -€1,785 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €85,187 | €40,624 | -€44,563 | -52.3% |
| Income taxes | 67/77 | €17,038 | €8,125 | -€8,913 | -52.3% |
| Profit (loss) for the period | 9904 | €68,149 | €32,499 | -€35,650 | -52.3% |
| Profit (loss) for the period to be appropriated | 9905 | €68,149 | €32,499 | -€35,650 | -52.3% |
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 10 October 2026 via checked.be.