REAL-IMPACT: 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.
REAL-IMPACT
Largest movements
- Tangible fixed assets -€23,237
down €23,237 (-2.9%), from €788,282 to €765,045
of which Assets under construction and advance payments: -€788,282
- Cash +€17,678
up €17,678 (+215.2%), from €8,216 to €25,894
mainly Other debts (+€31,390) and Depreciation (+€24,226)
- Other debts +€31,390
up €31,390 (+6.1%), from €517,832 to €549,222
- Trade debts -€22,755
down €22,755 (-94.4%), from €24,117 to €1,361
- Debts after one year -€16,714
down €16,714 (-5.8%), from €288,748 to €272,033
- Gross operating margin +€59,235
up €59,235, from -€22,917 to €36,318
- Depreciation +€24,226
new in 2025: €24,226
- Financial charges -€566
down €566 (-3.9%), from €14,588 to €14,022
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 | €797,179 | €791,948 | -€5,230 | -0.7% |
| Fixed assets | 21/28 | €788,512 | €765,275 | -€23,237 | -2.9% |
| Tangible fixed assets | 22/27 | €788,282 | €765,045 | -€23,237 | -2.9% |
| Land and buildings | 22 | - | €739,947 | +€739,947 | |
| Plant, machinery and equipment | 23 | - | €25,098 | +€25,098 | |
| Assets under construction and advance payments | 27 | €788,282 | - | -€788,282 | |
| Financial fixed assets | 28 | €230 | €230 | = | 0.0% |
| Current assets | 29/58 | €8,667 | €26,673 | +€18,006 | +207.7% |
| Amounts receivable within one year | 40/41 | €343 | €546 | +€203 | +59.3% |
| Trade receivables | 40 | €343 | €546 | +€203 | +59.3% |
| Cash at bank and in hand | 54/58 | €8,216 | €25,894 | +€17,678 | +215.2% |
| Deferred charges and accrued income | 490/1 | €108 | €233 | +€125 | +115.4% |
| Total equity and liabilities | 10/49 | €797,179 | €791,948 | -€5,230 | -0.7% |
| Equity | 10/15 | -€49,495 | -€53,742 | -€4,247 | -8.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,495 | -€63,742 | -€4,247 | -7.1% |
| Amounts payable | 17/49 | €846,674 | €845,690 | -€983 | -0.1% |
| Amounts payable after more than one year | 17 | €288,748 | €272,033 | -€16,714 | -5.8% |
| Financial debts | 170/4 | €288,748 | €272,033 | -€16,714 | -5.8% |
| Amounts payable within one year | 42/48 | €557,926 | €567,297 | +€9,371 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €15,978 | €16,714 | +€736 | +4.6% |
| Trade debts | 44 | €24,117 | €1,361 | -€22,755 | -94.4% |
| Suppliers | 440/4 | €24,117 | €1,361 | -€22,755 | -94.4% |
| Other amounts payable | 47/48 | €517,832 | €549,222 | +€31,390 | +6.1% |
| Accrued charges and deferred income | 492/3 | - | €6,360 | +€6,360 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €24,226 | +€24,226 | |
| Other operating charges | 640/8 | €2,631 | €2,317 | -€314 | -11.9% |
| Gross operating margin | 9900 | -€22,917 | €36,318 | +€59,235 | |
| Operating profit (loss) | 9901 | -€25,548 | €9,775 | +€35,323 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €14,588 | €14,022 | -€566 | -3.9% |
| Recurring financial charges | 65 | €14,588 | €14,022 | -€566 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | -€40,136 | -€4,247 | +€35,889 | +89.4% |
| Profit (loss) for the period | 9904 | -€40,136 | -€4,247 | +€35,889 | +89.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€40,136 | -€4,247 | +€35,889 | +89.4% |
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.