R21B: 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.
R21B
Largest movements
- Receivables within one year -€41,333
down €41,333 (-100%), from €41,333 to €0
of which Trade receivables: -€40,838
- Financial fixed assets -€25,499
down €25,499 (-4.6%), from €551,794 to €526,295
- Debts after one year +€75,624
up €75,624 (+35.8%), from €211,223 to €286,848
- Profit (loss) carried forward -€73,691
down €73,691 (-25.2%), from €292,347 to €218,657
- Current portion of long-term debt -€71,277
down €71,277 (-93.9%), from €75,903 to €4,626
- Other operating charges +€40,852
up €40,852 (+7,039%), from €580 to €41,432
- Financial charges +€24,671
up €24,671 (+1,308%), from €1,886 to €26,557
of which Non-recurring financial charges: +€25,499
- Financial income -€1,997
down €1,997 (-99.9%), from €1,998 to €1
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 | €604,584 | €535,430 | -€69,154 | -11.4% |
| Fixed assets | 21/28 | €551,794 | €526,295 | -€25,499 | -4.6% |
| Financial fixed assets | 28 | €551,794 | €526,295 | -€25,499 | -4.6% |
| Current assets | 29/58 | €52,790 | €9,135 | -€43,655 | -82.7% |
| Amounts receivable within one year | 40/41 | €41,333 | €0 | -€41,333 | -100% |
| Trade receivables | 40 | €40,838 | €0 | -€40,838 | -100% |
| Other amounts receivable | 41 | €496 | €0 | -€496 | -100% |
| Cash at bank and in hand | 54/58 | €11,457 | €9,135 | -€2,322 | -20.3% |
| Total equity and liabilities | 10/49 | €604,584 | €535,430 | -€69,154 | -11.4% |
| Equity | 10/15 | €317,089 | €243,399 | -€73,691 | -23.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €6,142 | €6,142 | = | 0.0% |
| Distributable reserves | 133 | €6,142 | €6,142 | = | 0.0% |
| Profit (loss) carried forward | 14 | €292,347 | €218,657 | -€73,691 | -25.2% |
| Amounts payable | 17/49 | €287,494 | €292,031 | +€4,537 | +1.6% |
| Amounts payable after more than one year | 17 | €211,223 | €286,848 | +€75,624 | +35.8% |
| Financial debts | 170/4 | €211,223 | €286,848 | +€75,624 | +35.8% |
| Amounts payable within one year | 42/48 | €76,271 | €5,183 | -€71,088 | -93.2% |
| Current portion of amounts payable after more than one year | 42 | €75,903 | €4,626 | -€71,277 | -93.9% |
| Trade debts | 44 | €368 | €558 | +€190 | +51.5% |
| Suppliers | 440/4 | €368 | €558 | +€190 | +51.5% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Other operating charges | 640/8 | €580 | €41,432 | +€40,852 | +7,039% |
| Gross operating margin | 9900 | -€5,683 | -€5,702 | -€20 | -0.3% |
| Operating profit (loss) | 9901 | -€6,263 | -€47,135 | -€40,871 | -653% |
| Financial income | 75/76B | €1,998 | €1 | -€1,997 | -99.9% |
| Recurring financial income | 75 | €1,998 | €1 | -€1,997 | -99.9% |
| Financial charges | 65/66B | €1,886 | €26,557 | +€24,671 | +1,308% |
| Recurring financial charges | 65 | €1,886 | €1,058 | -€828 | -43.9% |
| Non-recurring financial charges | 66B | - | €25,499 | +€25,499 | |
| Profit (loss) for the period before taxes | 9903 | -€6,151 | -€73,691 | -€67,540 | -1,098% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€6,151 | -€73,691 | -€67,540 | -1,098% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,151 | -€73,691 | -€67,540 | -1,098% |
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 14 October 2026 via checked.be.