RAW: what changed
Two fiscal 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.
RAW
Largest movements
- Tangible fixed assets -€4,311
down €4,311 (-1.4%), from €303,223 to €298,912
- Profit (loss) carried forward -€15,123
down €15,123 (-6.8%), from €221,920 to €206,797
- Trade debts +€10,880
up €10,880 (+246.5%), from €4,414 to €15,294
- Gross operating margin -€20,573
down €20,573, from €17,878 to -€2,695
- Depreciation -€3,426
down €3,426 (-38.7%), from €8,842 to €5,416
- Other operating charges -€1,124
down €1,124 (-14.5%), from €7,752 to €6,629
- Financial charges -€460
down €460 (-56.5%), from €814 to €354
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 | €312,273 | €308,309 | -€3,965 | -1.3% |
| Fixed assets | 21/28 | €303,223 | €298,912 | -€4,311 | -1.4% |
| Tangible fixed assets | 22/27 | €303,223 | €298,912 | -€4,311 | -1.4% |
| Land and buildings | 22 | €291,881 | €290,668 | -€1,213 | -0.4% |
| Furniture and vehicles | 24 | €2,578 | €2,128 | -€450 | -17.5% |
| Leasing and similar rights | 25 | €1,814 | €0 | -€1,814 | -100.0% |
| Other tangible fixed assets | 26 | €6,950 | €6,116 | -€833 | -12.0% |
| Current assets | 29/58 | €9,050 | €9,396 | +€346 | +3.8% |
| Amounts receivable within one year | 40/41 | €5,304 | €6,117 | +€813 | +15.3% |
| Trade receivables | 40 | €5,255 | €5,698 | +€443 | +8.4% |
| Other amounts receivable | 41 | €49 | €419 | +€370 | +752.4% |
| Cash at bank and in hand | 54/58 | €1,218 | €1 | -€1,217 | -99.9% |
| Deferred charges and accrued income | 490/1 | €2,529 | €3,279 | +€751 | +29.7% |
| Total equity and liabilities | 10/49 | €312,273 | €308,309 | -€3,965 | -1.3% |
| Equity | 10/15 | €290,402 | €275,279 | -€15,123 | -5.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,482 | €6,482 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €282 | €282 | = | 0.0% |
| Profit (loss) carried forward | 14 | €221,920 | €206,797 | -€15,123 | -6.8% |
| Amounts payable | 17/49 | €21,871 | €33,029 | +€11,158 | +51.0% |
| Amounts payable within one year | 42/48 | €21,871 | €33,029 | +€11,158 | +51.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | - | €7 | +€7 | |
| Credit institutions | 430/8 | - | €7 | +€7 | |
| Trade debts | 44 | €4,414 | €15,294 | +€10,880 | +246.5% |
| Suppliers | 440/4 | €4,414 | €15,294 | +€10,880 | +246.5% |
| Taxes, remuneration and social security | 45 | €4,430 | €2,079 | -€2,351 | -53.1% |
| Taxes | 450/3 | €4,430 | €2,079 | -€2,351 | -53.1% |
| Other amounts payable | 47/48 | €13,027 | €15,649 | +€2,622 | +20.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,842 | €5,416 | -€3,426 | -38.7% |
| Other operating charges | 640/8 | €7,752 | €6,629 | -€1,124 | -14.5% |
| Gross operating margin | 9900 | €17,878 | -€2,695 | -€20,573 | |
| Operating profit (loss) | 9901 | €1,283 | -€14,740 | -€16,024 | |
| Financial income | 75/76B | €1 | €112 | +€112 | +19286.2% |
| Recurring financial income | 75 | €1 | €112 | +€112 | +19286.2% |
| Financial charges | 65/66B | €814 | €354 | -€460 | -56.5% |
| Recurring financial charges | 65 | €814 | €354 | -€460 | -56.5% |
| Profit (loss) for the period before taxes | 9903 | €470 | -€14,982 | -€15,452 | |
| Income taxes | 67/77 | €188 | €141 | -€47 | -25.1% |
| Profit (loss) for the period | 9904 | €282 | -€15,123 | -€15,405 | |
| Profit (loss) for the period to be appropriated | 9905 | €282 | -€15,123 | -€15,405 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.