Rumours: 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.
Rumours
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+107.4%), from €1.1m to €2.3m
of which Land and buildings: +€1.2m
- Financial fixed assets +€205,500
up €205,500 (+761.1%), from €27,000 to €232,500
- Receivables within one year -€41,585
down €41,585 (-31.0%), from €134,110 to €92,525
of which Trade receivables: -€52,130
- Receivables after one year -€35,292
no longer reported in 2025 (was €35,292)
- Revaluation surpluses +€1.2m
new in 2025: €1.2m
- Other debts +€1.1m
up €1.1m (+2986.8%), from €37,416 to €1.2m
- Debts after one year -€716,043
no longer reported in 2025 (was €716,043)
- Accrued charges and deferred income -€213,483
down €213,483 (-80.1%), from €266,423 to €52,939
- Current portion of long-term debt -€172,435
no longer reported in 2025 (was €172,435)
- Gross operating margin -€83,821
down €83,821 (-61.4%), from €136,415 to €52,595
- Depreciation -€69,222
down €69,222 (-85.4%), from €81,039 to €11,817
- Financial charges -€17,176
down €17,176 (-40.1%), from €42,816 to €25,640
- Financial income -€2,849
down €2,849 (-100.0%), from €2,849 to €0
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 | €1,452,495 | €2,763,224 | +€1.3m | +90.2% |
| Fixed assets | 21/28 | €1,165,463 | €2,584,929 | +€1.4m | +121.8% |
| Intangible fixed assets | 21 | €6,605 | €4,876 | -€1,729 | -26.2% |
| Tangible fixed assets | 22/27 | €1,131,858 | €2,347,553 | +€1.2m | +107.4% |
| Land and buildings | 22 | €1,131,753 | €2,347,553 | +€1.2m | +107.4% |
| Furniture and vehicles | 24 | €105 | - | -€105 | |
| Financial fixed assets | 28 | €27,000 | €232,500 | +€205,500 | +761.1% |
| Current assets | 29/58 | €287,033 | €178,295 | -€108,738 | -37.9% |
| Amounts receivable after more than one year | 29 | €35,292 | - | -€35,292 | |
| Other amounts receivable | 291 | €35,292 | - | -€35,292 | |
| Amounts receivable within one year | 40/41 | €134,110 | €92,525 | -€41,585 | -31.0% |
| Trade receivables | 40 | €134,110 | €81,980 | -€52,130 | -38.9% |
| Other amounts receivable | 41 | - | €10,545 | +€10,545 | |
| Cash at bank and in hand | 54/58 | €9,968 | €3,144 | -€6,824 | -68.5% |
| Deferred charges and accrued income | 490/1 | €107,662 | €82,625 | -€25,037 | -23.3% |
| Total equity and liabilities | 10/49 | €1,452,495 | €2,763,224 | +€1.3m | +90.2% |
| Equity | 10/15 | €89,927 | €1,297,891 | +€1.2m | +1343.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | - | €1,200,000 | +€1.2m | |
| Reserves | 13 | €71,327 | €79,291 | +€7,965 | +11.2% |
| Distributable reserves | 133 | €71,327 | €79,291 | +€7,965 | +11.2% |
| Amounts payable | 17/49 | €1,362,568 | €1,465,332 | +€102,764 | +7.5% |
| Amounts payable after more than one year | 17 | €716,043 | - | -€716,043 | |
| Financial debts | 170/4 | €716,043 | - | -€716,043 | |
| Amounts payable within one year | 42/48 | €380,103 | €1,412,393 | +€1.0m | +271.6% |
| Current portion of amounts payable after more than one year | 42 | €172,435 | - | -€172,435 | |
| Trade debts | 44 | €159,520 | €238,325 | +€78,805 | +49.4% |
| Suppliers | 440/4 | €159,520 | €238,325 | +€78,805 | +49.4% |
| Taxes, remuneration and social security | 45 | €10,732 | €19,111 | +€8,379 | +78.1% |
| Taxes | 450/3 | €10,732 | €19,111 | +€8,379 | +78.1% |
| Other amounts payable | 47/48 | €37,416 | €1,154,957 | +€1.1m | +2986.8% |
| Accrued charges and deferred income | 492/3 | €266,423 | €52,939 | -€213,483 | -80.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,039 | €11,817 | -€69,222 | -85.4% |
| Other operating charges | 640/8 | €5,552 | €4,518 | -€1,035 | -18.6% |
| Non-recurring operating charges | 66A | €408 | - | -€408 | |
| Gross operating margin | 9900 | €136,415 | €52,595 | -€83,821 | -61.4% |
| Operating profit (loss) | 9901 | €49,417 | €36,260 | -€13,157 | -26.6% |
| Financial income | 75/76B | €2,849 | €0 | -€2,849 | -100.0% |
| Recurring financial income | 75 | €2,849 | €0 | -€2,849 | -100.0% |
| Financial charges | 65/66B | €42,816 | €25,640 | -€17,176 | -40.1% |
| Recurring financial charges | 65 | €42,816 | €25,640 | -€17,176 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €9,449 | €10,620 | +€1,170 | +12.4% |
| Income taxes | 67/77 | €2,423 | €2,655 | +€232 | +9.6% |
| Profit (loss) for the period | 9904 | €7,027 | €7,965 | +€938 | +13.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,027 | €7,965 | +€938 | +13.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.