Route 72: 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.
Route 72
Largest movements
- Receivables within one year -€39,758
down €39,758 (-45.6%), from €87,137 to €47,379
of which Other amounts receivable: -€37,132
- Cash -€36,686
down €36,686 (-95.6%), from €38,375 to €1,689
mainly Debts after one year (-€69,922) and Other debts (-€33,200)
- Tangible fixed assets -€31,855
down €31,855 (-6.1%), from €521,423 to €489,568
of which Land and buildings: -€31,415
- Intangible fixed assets -€22,259
down €22,259 (-5.2%), from €428,269 to €406,010
- Debts after one year -€69,922
down €69,922 (-16.0%), from €436,426 to €366,505
- Other debts -€33,200
down €33,200 (-57.2%), from €58,045 to €24,845
- Current portion of long-term debt -€21,295
down €21,295 (-22.0%), from €97,013 to €75,717
- Reserves -€14,082
down €14,082 (-3.2%), from €445,604 to €431,522
of which Distributable reserves: -€14,082
- Gross operating margin +€22,415
up €22,415 (+28.2%), from €79,440 to €101,855
- Write-downs +€16,345
new in 2025: €16,345
- Taxes +€8,907
up €8,907 (+422.4%), from €2,109 to €11,016
- Depreciation +€5,131
up €5,131 (+10.5%), from €48,983 to €54,113
- Financial charges +€2,376
up €2,376 (+21.3%), from €11,174 to €13,550
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 | €1,075,204 | €944,646 | -€130,557 | -12.1% |
| Fixed assets | 21/28 | €949,692 | €895,578 | -€54,114 | -5.7% |
| Intangible fixed assets | 21 | €428,269 | €406,010 | -€22,259 | -5.2% |
| Tangible fixed assets | 22/27 | €521,423 | €489,568 | -€31,855 | -6.1% |
| Land and buildings | 22 | €520,983 | €489,568 | -€31,415 | -6.0% |
| Furniture and vehicles | 24 | €441 | €0 | -€441 | -100.0% |
| Current assets | 29/58 | €125,512 | €49,068 | -€76,443 | -60.9% |
| Amounts receivable within one year | 40/41 | €87,137 | €47,379 | -€39,758 | -45.6% |
| Trade receivables | 40 | €8,617 | €5,991 | -€2,626 | -30.5% |
| Other amounts receivable | 41 | €78,520 | €41,388 | -€37,132 | -47.3% |
| Cash at bank and in hand | 54/58 | €38,375 | €1,689 | -€36,686 | -95.6% |
| Total equity and liabilities | 10/49 | €1,075,204 | €944,646 | -€130,557 | -12.1% |
| Equity | 10/15 | €466,604 | €452,522 | -€14,082 | -3.0% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €445,604 | €431,522 | -€14,082 | -3.2% |
| Non-distributable reserves | 130/1 | €2,100 | €2,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,100 | €2,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €429 | €429 | = | 0.0% |
| Distributable reserves | 133 | €443,075 | €428,993 | -€14,082 | -3.2% |
| Amounts payable | 17/49 | €608,600 | €492,125 | -€116,475 | -19.1% |
| Amounts payable after more than one year | 17 | €436,426 | €366,505 | -€69,922 | -16.0% |
| Financial debts | 170/4 | €436,426 | €366,505 | -€69,922 | -16.0% |
| Amounts payable within one year | 42/48 | €172,174 | €124,743 | -€47,431 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €97,013 | €75,717 | -€21,295 | -22.0% |
| Financial debts | 43 | €7,766 | €7,436 | -€330 | -4.3% |
| Credit institutions | 430/8 | €7,766 | €7,436 | -€330 | -4.3% |
| Trade debts | 44 | €7,639 | €12,944 | +€5,305 | +69.4% |
| Suppliers | 440/4 | €7,639 | €12,944 | +€5,305 | +69.4% |
| Taxes, remuneration and social security | 45 | €1,710 | €3,800 | +€2,090 | +122.2% |
| Taxes | 450/3 | €1,710 | €3,800 | +€2,090 | +122.2% |
| Other amounts payable | 47/48 | €58,045 | €24,845 | -€33,200 | -57.2% |
| Accrued charges and deferred income | 492/3 | - | €877 | +€877 | |
| Non-recurring operating income | 76A | €1,200 | - | -€1,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,983 | €54,113 | +€5,131 | +10.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €16,345 | +€16,345 | |
| Other operating charges | 640/8 | €12,112 | €12,425 | +€313 | +2.6% |
| Gross operating margin | 9900 | €79,440 | €101,855 | +€22,415 | +28.2% |
| Operating profit (loss) | 9901 | €18,346 | €18,972 | +€626 | +3.4% |
| Financial income | 75/76B | €964 | €512 | -€452 | -46.9% |
| Recurring financial income | 75 | €489 | €512 | +€23 | +4.8% |
| Non-recurring financial income | 76B | €476 | - | -€476 | |
| Financial charges | 65/66B | €11,174 | €13,550 | +€2,376 | +21.3% |
| Recurring financial charges | 65 | €11,174 | €13,550 | +€2,376 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | €8,136 | €5,934 | -€2,202 | -27.1% |
| Income taxes | 67/77 | €2,109 | €11,016 | +€8,907 | +422.4% |
| Profit (loss) for the period | 9904 | €6,027 | -€5,082 | -€11,109 | |
| Transfer to tax-exempt reserves | 689 | €429 | - | -€429 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,598 | -€5,082 | -€10,680 |
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 8 October 2026 via checked.be.