RETAIL 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.
RETAIL IMPACT
Largest movements
- Tangible fixed assets +€370,736
up €370,736 (+90.6%), from €409,248 to €779,984
of which Land and buildings: +€346,117
- Cash -€35,573
down €35,573 (-66.1%), from €53,826 to €18,253
mainly Investment in fixed assets (net) (-€393,572) and Receivables within one year (-€31,333)
- Receivables within one year +€31,333
up €31,333 (+345%), from €9,085 to €40,417
of which Trade receivables: +€21,333
- Other debts +€168,083
up €168,083 (+122%), from €137,699 to €305,782
- Debts after one year +€132,688
up €132,688 (+43.0%), from €308,595 to €441,283
- Current portion of long-term debt +€28,336
new in 2025: €28,336
- Accrued charges and deferred income +€26,896
up €26,896 (+8,900%), from €302 to €27,198
- Reserves +€13,472
up €13,472 (+133%), from €10,097 to €23,569
of which Distributable reserves: +€13,472
- Depreciation +€20,323
up €20,323 (+809%), from €2,513 to €22,836
- Financial charges +€15,515
up €15,515 (+163%), from €9,490 to €25,005
- Gross operating margin +€6,993
up €6,993 (+12.7%), from €55,280 to €62,273
- Taxes -€3,535
down €3,535 (-98.6%), from €3,585 to €50
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.
Derived cash bridge
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 | €472,158 | €838,654 | +€366,496 | +77.6% |
| Fixed assets | 21/28 | €409,248 | €779,984 | +€370,736 | +90.6% |
| Tangible fixed assets | 22/27 | €409,248 | €779,984 | +€370,736 | +90.6% |
| Land and buildings | 22 | €407,833 | €753,950 | +€346,117 | +84.9% |
| Plant, machinery and equipment | 23 | €1,415 | €5,760 | +€4,345 | +307% |
| Furniture and vehicles | 24 | - | €20,274 | +€20,274 | |
| Current assets | 29/58 | €62,910 | €58,670 | -€4,240 | -6.7% |
| Amounts receivable within one year | 40/41 | €9,085 | €40,417 | +€31,333 | +345% |
| Trade receivables | 40 | €9,085 | €30,417 | +€21,333 | +235% |
| Other amounts receivable | 41 | - | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €53,826 | €18,253 | -€35,573 | -66.1% |
| Total equity and liabilities | 10/49 | €472,158 | €838,654 | +€366,496 | +77.6% |
| Equity | 10/15 | €16,297 | €29,769 | +€13,472 | +82.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €10,097 | €23,569 | +€13,472 | +133% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €8,237 | €21,709 | +€13,472 | +164% |
| Amounts payable | 17/49 | €455,861 | €808,885 | +€353,024 | +77.4% |
| Amounts payable after more than one year | 17 | €308,595 | €441,283 | +€132,688 | +43.0% |
| Financial debts | 170/4 | €308,595 | €441,283 | +€132,688 | +43.0% |
| Amounts payable within one year | 42/48 | €146,964 | €340,405 | +€193,441 | +132% |
| Current portion of amounts payable after more than one year | 42 | - | €28,336 | +€28,336 | |
| Trade debts | 44 | €2,203 | €1,219 | -€984 | -44.7% |
| Suppliers | 440/4 | €2,203 | €1,219 | -€984 | -44.7% |
| Taxes, remuneration and social security | 45 | €7,063 | €5,068 | -€1,995 | -28.2% |
| Taxes | 450/3 | €7,063 | €5,068 | -€1,995 | -28.2% |
| Other amounts payable | 47/48 | €137,699 | €305,782 | +€168,083 | +122% |
| Accrued charges and deferred income | 492/3 | €302 | €27,198 | +€26,896 | +8,900% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,513 | €22,836 | +€20,323 | +809% |
| Other operating charges | 640/8 | €908 | €1,077 | +€169 | +18.6% |
| Gross operating margin | 9900 | €55,280 | €62,273 | +€6,993 | +12.7% |
| Operating profit (loss) | 9901 | €51,859 | €38,361 | -€13,499 | -26.0% |
| Financial income | 75/76B | - | €166 | +€166 | |
| Recurring financial income | 75 | - | €166 | +€166 | |
| Financial charges | 65/66B | €9,490 | €25,005 | +€15,515 | +163% |
| Recurring financial charges | 65 | €9,490 | €25,005 | +€15,515 | +163% |
| Profit (loss) for the period before taxes | 9903 | €42,370 | €13,522 | -€28,848 | -68.1% |
| Income taxes | 67/77 | €3,585 | €50 | -€3,535 | -98.6% |
| Profit (loss) for the period | 9904 | €38,784 | €13,472 | -€25,313 | -65.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,784 | €13,472 | -€25,313 | -65.3% |
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 18 October 2026 via checked.be.