RELEASE: 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.
RELEASE
Largest movements
- Tangible fixed assets -€12,373
down €12,373 (-10.9%), from €113,934 to €101,561
of which Land and buildings: -€11,453
- Debts after one year -€15,627
down €15,627 (-20.1%), from €77,763 to €62,136
- Other debts +€5,809
up €5,809 (+12.7%), from €45,758 to €51,567
- Profit (loss) carried forward -€5,341
down €5,341 (-26.7%), from -€20,002 to -€25,344
- Short-term financial debts -€3,127
down €3,127 (-90.3%), from €3,463 to €336
- Trade debts +€2,910
up €2,910 (+139.2%), from €2,091 to €5,001
- Gross operating margin +€16,195
up €16,195 (+1260.2%), from €1,285 to €17,480
- Taxes +€3,000
up €3,000, from -€2,773 to €227
- Depreciation -€2,233
down €2,233 (-15.3%), from €14,605 to €12,373
- Financial charges -€1,864
down €1,864 (-23.5%), from €7,921 to €6,057
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 | €132,237 | €117,880 | -€14,357 | -10.9% |
| Fixed assets | 21/28 | €113,934 | €101,561 | -€12,373 | -10.9% |
| Tangible fixed assets | 22/27 | €113,934 | €101,561 | -€12,373 | -10.9% |
| Land and buildings | 22 | €109,840 | €98,387 | -€11,453 | -10.4% |
| Plant, machinery and equipment | 23 | €756 | €581 | -€175 | -23.1% |
| Furniture and vehicles | 24 | €3,338 | €2,593 | -€745 | -22.3% |
| Current assets | 29/58 | €18,304 | €16,320 | -€1,984 | -10.8% |
| Stocks and contracts in progress | 3 | €7,301 | €6,680 | -€621 | -8.5% |
| Stocks | 30/36 | €7,301 | €6,680 | -€621 | -8.5% |
| Amounts receivable within one year | 40/41 | €8,288 | €7,268 | -€1,020 | -12.3% |
| Trade receivables | 40 | €4,230 | €1,495 | -€2,735 | -64.7% |
| Other amounts receivable | 41 | €4,058 | €5,773 | +€1,715 | +42.3% |
| Cash at bank and in hand | 54/58 | - | €76 | +€76 | |
| Deferred charges and accrued income | 490/1 | €2,714 | €2,296 | -€419 | -15.4% |
| Total equity and liabilities | 10/49 | €132,237 | €117,880 | -€14,357 | -10.9% |
| Equity | 10/15 | -€11,944 | -€17,285 | -€5,341 | -44.7% |
| Contributions | 10/11 | €6,199 | €6,199 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,002 | -€25,344 | -€5,341 | -26.7% |
| Amounts payable | 17/49 | €144,181 | €135,166 | -€9,015 | -6.3% |
| Amounts payable after more than one year | 17 | €77,763 | €62,136 | -€15,627 | -20.1% |
| Financial debts | 170/4 | €77,763 | €62,136 | -€15,627 | -20.1% |
| Amounts payable within one year | 42/48 | €66,418 | €72,900 | +€6,481 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €15,105 | €15,884 | +€778 | +5.2% |
| Financial debts | 43 | €3,463 | €336 | -€3,127 | -90.3% |
| Credit institutions | 430/8 | €3,463 | €336 | -€3,127 | -90.3% |
| Trade debts | 44 | €2,091 | €5,001 | +€2,910 | +139.2% |
| Suppliers | 440/4 | €2,091 | €5,001 | +€2,910 | +139.2% |
| Taxes, remuneration and social security | 45 | €1 | €112 | +€111 | +11216.2% |
| Taxes | 450/3 | €1 | €112 | +€111 | +11216.2% |
| Other amounts payable | 47/48 | €45,758 | €51,567 | +€5,809 | +12.7% |
| Accrued charges and deferred income | 492/3 | - | €131 | +€131 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,605 | €12,373 | -€2,233 | -15.3% |
| Other operating charges | 640/8 | €4,238 | €4,230 | -€8 | -0.2% |
| Gross operating margin | 9900 | €1,285 | €17,480 | +€16,195 | +1260.2% |
| Operating profit (loss) | 9901 | -€17,558 | €878 | +€18,436 | |
| Financial income | 75/76B | €0 | €65 | +€65 | +13759.6% |
| Recurring financial income | 75 | €0 | €65 | +€65 | +13759.6% |
| Financial charges | 65/66B | €7,921 | €6,057 | -€1,864 | -23.5% |
| Recurring financial charges | 65 | €7,921 | €6,057 | -€1,864 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | -€25,479 | -€5,114 | +€20,364 | +79.9% |
| Income taxes | 67/77 | -€2,773 | €227 | +€3,000 | |
| Profit (loss) for the period | 9904 | -€22,706 | -€5,341 | +€17,364 | +76.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,706 | -€5,341 | +€17,364 | +76.5% |
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 12 October 2026 via checked.be.