SCENOGRAPHY: 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.
SCENOGRAPHY
Largest movements
- Tangible fixed assets -€15,823
down €15,823 (-6.4%), from €247,874 to €232,051
of which Land and buildings: -€116,736
- Stocks and contracts +€7,531
up €7,531 (+401.7%), from €1,875 to €9,406
- Cash -€4,418
down €4,418 (-99.9%), from €4,422 to €4
mainly Net result for the year (-€50,589) and Stocks and contracts (-€7,531)
- Profit (loss) carried forward -€50,589
down €50,589 (-24.8%), from -€204,179 to -€254,768
- Debts after one year +€41,318
up €41,318 (+9.4%), from €438,433 to €479,751
- Trade debts -€3,479
down €3,479 (-72.7%), from €4,785 to €1,306
- Gross operating margin +€11,412
up €11,412 (+28.1%), from -€40,638 to -€29,225
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 | €260,109 | €247,674 | -€12,435 | -4.8% |
| Fixed assets | 21/28 | €247,874 | €232,051 | -€15,823 | -6.4% |
| Tangible fixed assets | 22/27 | €247,874 | €232,051 | -€15,823 | -6.4% |
| Land and buildings | 22 | €245,208 | €128,472 | -€116,736 | -47.6% |
| Plant, machinery and equipment | 23 | €1,853 | €103,226 | +€101,373 | +5471.6% |
| Furniture and vehicles | 24 | €813 | €353 | -€460 | -56.6% |
| Current assets | 29/58 | €12,235 | €15,623 | +€3,388 | +27.7% |
| Stocks and contracts in progress | 3 | €1,875 | €9,406 | +€7,531 | +401.7% |
| Stocks | 30/36 | €1,875 | €9,406 | +€7,531 | +401.7% |
| Amounts receivable within one year | 40/41 | €3,298 | €3,196 | -€103 | -3.1% |
| Trade receivables | 40 | €2,420 | €2,420 | = | 0.0% |
| Other amounts receivable | 41 | €878 | €776 | -€103 | -11.7% |
| Cash at bank and in hand | 54/58 | €4,422 | €4 | -€4,418 | -99.9% |
| Deferred charges and accrued income | 490/1 | €2,639 | €3,017 | +€377 | +14.3% |
| Total equity and liabilities | 10/49 | €260,109 | €247,674 | -€12,435 | -4.8% |
| Equity | 10/15 | -€183,728 | -€234,316 | -€50,589 | -27.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | - | €1,859 | +€1,859 | |
| Profit (loss) carried forward | 14 | -€204,179 | -€254,768 | -€50,589 | -24.8% |
| Amounts payable | 17/49 | €443,837 | €481,990 | +€38,154 | +8.6% |
| Amounts payable after more than one year | 17 | €438,433 | €479,751 | +€41,318 | +9.4% |
| Financial debts | 170/4 | €438,433 | €479,751 | +€41,318 | +9.4% |
| Amounts payable within one year | 42/48 | €5,404 | €2,240 | -€3,164 | -58.6% |
| Trade debts | 44 | €4,785 | €1,306 | -€3,479 | -72.7% |
| Suppliers | 440/4 | €4,785 | €1,306 | -€3,479 | -72.7% |
| Taxes, remuneration and social security | 45 | €619 | €934 | +€315 | +50.9% |
| Taxes | 450/3 | €619 | €934 | +€315 | +50.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,372 | €18,485 | +€114 | +0.6% |
| Other operating charges | 640/8 | €1,993 | €2,069 | +€76 | +3.8% |
| Gross operating margin | 9900 | -€40,638 | -€29,225 | +€11,412 | +28.1% |
| Operating profit (loss) | 9901 | -€61,003 | -€49,780 | +€11,223 | +18.4% |
| Financial income | 75/76B | €8 | - | -€8 | |
| Recurring financial income | 75 | €8 | - | -€8 | |
| Financial charges | 65/66B | €490 | €494 | +€4 | +0.8% |
| Recurring financial charges | 65 | €490 | €494 | +€4 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | -€61,485 | -€50,274 | +€11,211 | +18.2% |
| Income taxes | 67/77 | €319 | €315 | -€4 | -1.2% |
| Profit (loss) for the period | 9904 | -€61,804 | -€50,589 | +€11,215 | +18.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€61,804 | -€50,589 | +€11,215 | +18.1% |
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 3 October 2026 via checked.be.