REAL IMPACT: 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.
REAL IMPACT
Largest movements
- Receivables within one year -€101,040
down €101,040 (-61.7%), from €163,806 to €62,766
of which Other amounts receivable: -€78,849
- Other debts -€103,595
down €103,595 (-64.1%), from €161,500 to €57,905
- Profit (loss) carried forward +€22,803
up €22,803 (+47.7%), from €47,768 to €70,571
- Debts after one year -€19,658
down €19,658 (-6.0%), from €327,702 to €308,045
- Trade debts -€8,190
down €8,190 (-80.7%), from €10,155 to €1,965
- Gross operating margin +€20,997
up €20,997 (+11.3%), from €186,202 to €207,199
- Taxes +€6,045
up €6,045 (+16.5%), from €36,600 to €42,645
- Financial income -€4,048
down €4,048 (-99.4%), from €4,074 to €25
- Depreciation +€2,397
up €2,397 (+11.0%), from €21,844 to €24,240
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 | €622,696 | €520,753 | -€101,944 | -16.4% |
| Fixed assets | 21/28 | €455,493 | €450,618 | -€4,875 | -1.1% |
| Tangible fixed assets | 22/27 | €455,493 | €450,618 | -€4,875 | -1.1% |
| Land and buildings | 22 | €418,941 | €416,364 | -€2,577 | -0.6% |
| Plant, machinery and equipment | 23 | €0 | €2,908 | +€2,908 | |
| Furniture and vehicles | 24 | €36,552 | €31,346 | -€5,206 | -14.2% |
| Current assets | 29/58 | €167,203 | €70,134 | -€97,069 | -58.1% |
| Amounts receivable within one year | 40/41 | €163,806 | €62,766 | -€101,040 | -61.7% |
| Trade receivables | 40 | €55,185 | €32,995 | -€22,191 | -40.2% |
| Other amounts receivable | 41 | €108,620 | €29,771 | -€78,849 | -72.6% |
| Cash at bank and in hand | 54/58 | €758 | €3,620 | +€2,862 | +377.6% |
| Deferred charges and accrued income | 490/1 | €2,640 | €3,748 | +€1,109 | +42.0% |
| Total equity and liabilities | 10/49 | €622,696 | €520,753 | -€101,944 | -16.4% |
| Equity | 10/15 | €50,768 | €73,571 | +€22,803 | +44.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,768 | €70,571 | +€22,803 | +47.7% |
| Amounts payable | 17/49 | €571,929 | €447,182 | -€124,746 | -21.8% |
| Amounts payable after more than one year | 17 | €327,702 | €308,045 | -€19,658 | -6.0% |
| Financial debts | 170/4 | €327,702 | €308,045 | -€19,658 | -6.0% |
| Amounts payable within one year | 42/48 | €244,226 | €139,138 | -€105,089 | -43.0% |
| Current portion of amounts payable after more than one year | 42 | €20,945 | €21,282 | +€337 | +1.6% |
| Financial debts | 43 | €600 | €1,011 | +€411 | +68.5% |
| Other loans | 439 | €600 | €1,011 | +€411 | +68.5% |
| Trade debts | 44 | €10,155 | €1,965 | -€8,190 | -80.7% |
| Suppliers | 440/4 | €10,155 | €1,965 | -€8,190 | -80.7% |
| Taxes, remuneration and social security | 45 | €51,026 | €56,975 | +€5,949 | +11.7% |
| Taxes | 450/3 | €51,026 | €56,975 | +€5,949 | +11.7% |
| Other amounts payable | 47/48 | €161,500 | €57,905 | -€103,595 | -64.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,844 | €24,240 | +€2,397 | +11.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €907 | €1,102 | +€195 | +21.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €186,202 | €207,199 | +€20,997 | +11.3% |
| Operating profit (loss) | 9901 | €163,451 | €181,857 | +€18,406 | +11.3% |
| Financial income | 75/76B | €4,074 | €25 | -€4,048 | -99.4% |
| Recurring financial income | 75 | €4,074 | €25 | -€4,048 | -99.4% |
| Financial charges | 65/66B | €12,923 | €12,434 | -€489 | -3.8% |
| Recurring financial charges | 65 | €12,923 | €12,434 | -€489 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €154,601 | €169,448 | +€14,847 | +9.6% |
| Income taxes | 67/77 | €36,600 | €42,645 | +€6,045 | +16.5% |
| Profit (loss) for the period | 9904 | €118,001 | €126,803 | +€8,801 | +7.5% |
| Profit (loss) for the period to be appropriated | 9905 | €118,001 | €126,803 | +€8,801 | +7.5% |
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.