SEENOPSIS: 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.
SEENOPSIS
Largest movements
- Tangible fixed assets -€54,615
down €54,615 (-4.1%), from €1.3m to €1.3m
- Debts after one year -€94,498
down €94,498 (-6.6%), from €1.4m to €1.3m
of which Financial debts: -€94,898
- Profit (loss) carried forward +€31,922
up €31,922 (+26.8%), from -€119,276 to -€87,355
- Gross operating margin +€19,006
up €19,006 (+18.1%), from €104,877 to €123,884
- Financial charges -€2,072
down €2,072 (-7.4%), from €28,151 to €26,079
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 | €1,447,779 | €1,393,216 | -€54,563 | -3.8% |
| Fixed assets | 21/28 | €1,347,310 | €1,292,695 | -€54,615 | -4.1% |
| Tangible fixed assets | 22/27 | €1,347,310 | €1,292,695 | -€54,615 | -4.1% |
| Land and buildings | 22 | €1,347,310 | €1,292,695 | -€54,615 | -4.1% |
| Current assets | 29/58 | €100,468 | €100,521 | +€53 | +0.1% |
| Amounts receivable within one year | 40/41 | €84,500 | €87,500 | +€3,000 | +3.6% |
| Other amounts receivable | 41 | €84,500 | €87,500 | +€3,000 | +3.6% |
| Cash at bank and in hand | 54/58 | €11,639 | €2,471 | -€9,168 | -78.8% |
| Deferred charges and accrued income | 490/1 | €4,330 | €10,551 | +€6,221 | +143.7% |
| Total equity and liabilities | 10/49 | €1,447,779 | €1,393,216 | -€54,563 | -3.8% |
| Equity | 10/15 | -€98,865 | -€66,944 | +€31,922 | +32.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,811 | €1,811 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,811 | - | -€1,811 | |
| Legal reserve | 130 | €1,811 | - | -€1,811 | |
| Distributable reserves | 133 | - | €1,811 | +€1,811 | |
| Profit (loss) carried forward | 14 | -€119,276 | -€87,355 | +€31,922 | +26.8% |
| Amounts payable | 17/49 | €1,546,644 | €1,460,160 | -€86,484 | -5.6% |
| Amounts payable after more than one year | 17 | €1,438,237 | €1,343,739 | -€94,498 | -6.6% |
| Financial debts | 170/4 | €1,024,604 | €929,705 | -€94,898 | -9.3% |
| Other amounts payable | 178/9 | €413,633 | €414,033 | +€400 | +0.1% |
| Amounts payable within one year | 42/48 | €105,821 | €114,836 | +€9,015 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | €98,000 | €100,322 | +€2,322 | +2.4% |
| Trade debts | 44 | €7,821 | €14,514 | +€6,692 | +85.6% |
| Suppliers | 440/4 | €7,821 | €14,514 | +€6,692 | +85.6% |
| Accrued charges and deferred income | 492/3 | €2,586 | €1,585 | -€1,001 | -38.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,615 | €54,615 | = | 0.0% |
| Other operating charges | 640/8 | €10,926 | €11,268 | +€342 | +3.1% |
| Gross operating margin | 9900 | €104,877 | €123,884 | +€19,006 | +18.1% |
| Operating profit (loss) | 9901 | €39,336 | €58,000 | +€18,665 | +47.4% |
| Financial charges | 65/66B | €28,151 | €26,079 | -€2,072 | -7.4% |
| Recurring financial charges | 65 | €28,151 | €26,079 | -€2,072 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | €11,185 | €31,922 | +€20,736 | +185.4% |
| Profit (loss) for the period | 9904 | €11,185 | €31,922 | +€20,736 | +185.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,185 | €31,922 | +€20,736 | +185.4% |
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 30 September 2026 via checked.be.