RADAR +: what changed
RADAR +
Largest movements
- Cash -€62,787
down €62,787 (-63.1%), from €99,427 to €36,639
mainly Net result for the year (-€55,991) and Debts after one year (-€11,853)
- Tangible fixed assets -€16,445
down €16,445 (-6.3%), from €261,471 to €245,026
of which Land and buildings: -€11,218
- Receivables within one year +€7,677
up €7,677 (+47.5%), from €16,175 to €23,852
of which Other amounts receivable: +€10,115
- Reserves -€55,991
down €55,991 (-26.6%), from €210,195 to €154,205
- Debts after one year -€11,853
down €11,853 (-9.0%), from €132,123 to €120,270
- Tax, wage and social debts -€6,215
down €6,215 (-35.7%), from €17,426 to €11,212
of which Taxes: -€4,273
- Gross operating margin -€26,836
down €26,836 (-4,044%), from -€664 to -€27,500
- Financial charges +€1,084
up €1,084 (+22.6%), from €4,803 to €5,887
- Other operating charges -€451
down €451 (-12.9%), from €3,493 to €3,042
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €379,598 | €305,970 | -€73,628 | -19.4% |
| Fixed assets | 21/28 | €263,996 | €245,076 | -€18,920 | -7.2% |
| Tangible fixed assets | 22/27 | €261,471 | €245,026 | -€16,445 | -6.3% |
| Land and buildings | 22 | €240,635 | €229,417 | -€11,218 | -4.7% |
| Furniture and vehicles | 24 | €20,835 | €15,609 | -€5,227 | -25.1% |
| Financial fixed assets | 28 | €2,525 | €50 | -€2,475 | -98.0% |
| Current assets | 29/58 | €115,602 | €60,894 | -€54,708 | -47.3% |
| Amounts receivable within one year | 40/41 | €16,175 | €23,852 | +€7,677 | +47.5% |
| Trade receivables | 40 | €2,739 | €300 | -€2,439 | -89.0% |
| Other amounts receivable | 41 | €13,437 | €23,552 | +€10,115 | +75.3% |
| Cash at bank and in hand | 54/58 | €99,427 | €36,639 | -€62,787 | -63.1% |
| Deferred charges and accrued income | 490/1 | - | €402 | +€402 | |
| Total equity and liabilities | 10/49 | €379,598 | €305,970 | -€73,628 | -19.4% |
| Equity | 10/15 | €216,395 | €160,405 | -€55,991 | -25.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €210,195 | €154,205 | -€55,991 | -26.6% |
| Distributable reserves | 133 | €210,195 | €154,205 | -€55,991 | -26.6% |
| Amounts payable | 17/49 | €163,203 | €145,565 | -€17,638 | -10.8% |
| Amounts payable after more than one year | 17 | €132,123 | €120,270 | -€11,853 | -9.0% |
| Financial debts | 170/4 | €132,123 | €120,270 | -€11,853 | -9.0% |
| Amounts payable within one year | 42/48 | €29,917 | €24,133 | -€5,784 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €11,665 | €11,853 | +€188 | +1.6% |
| Trade debts | 44 | €825 | €1,068 | +€243 | +29.4% |
| Suppliers | 440/4 | €825 | €1,068 | +€243 | +29.4% |
| Taxes, remuneration and social security | 45 | €17,426 | €11,212 | -€6,215 | -35.7% |
| Taxes | 450/3 | €13,492 | €9,219 | -€4,273 | -31.7% |
| Remuneration and social security | 454/9 | €3,934 | €1,993 | -€1,941 | -49.3% |
| Other amounts payable | 47/48 | €0 | €0 | = | |
| Accrued charges and deferred income | 492/3 | €1,163 | €1,163 | -€1 | 0.0% |
| Remuneration, social security and pensions | 62 | €70 | - | -€70 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,164 | €19,102 | -€62 | -0.3% |
| Other operating charges | 640/8 | €3,493 | €3,042 | -€451 | -12.9% |
| Gross operating margin | 9900 | -€664 | -€27,500 | -€26,836 | -4,044% |
| Operating profit (loss) | 9901 | -€23,390 | -€49,644 | -€26,254 | -112% |
| Financial income | 75/76B | €156 | €14 | -€142 | -90.8% |
| Recurring financial income | 75 | €156 | €14 | -€142 | -90.8% |
| Financial charges | 65/66B | €4,803 | €5,887 | +€1,084 | +22.6% |
| Recurring financial charges | 65 | €4,803 | €5,887 | +€1,084 | +22.6% |
| Profit (loss) for the period before taxes | 9903 | -€28,038 | -€55,517 | -€27,479 | -98.0% |
| Income taxes | 67/77 | €501 | €474 | -€27 | -5.3% |
| Profit (loss) for the period | 9904 | -€28,538 | -€55,991 | -€27,453 | -96.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,538 | -€55,991 | -€27,453 | -96.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.