SENS BEHEER: 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.
SENS BEHEER
Largest movements
- Receivables within one year -€587,935
down €587,935 (-70.9%), from €829,323 to €241,388
of which Other amounts receivable: -€599,042
- Tangible fixed assets +€463,772
up €463,772 (+659%), from €70,334 to €534,106
of which Land and buildings: +€474,487
- Cash -€74,477
down €74,477 (-52.4%), from €142,145 to €67,668
mainly Investment in fixed assets (net) (-€485,943) and Debts after one year (-€180,412)
- Debts after one year -€180,412
down €180,412 (-85.1%), from €212,052 to €31,640
- Reserves -€81,920
down €81,920 (-3.9%), from €2.1m to €2.0m
of which Distributable reserves: -€81,920
- Other debts +€63,804
up €63,804 (+264%), from €24,190 to €87,995
- Financial income +€59,442
up €59,442 (+603%), from €9,855 to €69,297
of which Financial income: +€59,442
- Other operating charges +€51,032
up €51,032 (+531%), from €9,615 to €60,647
- Gross operating margin -€35,320
down €35,320 (-49.9%), from €70,816 to €35,496
- Financial charges +€22,143
up €22,143 (+697%), from €3,178 to €25,321
- Taxes -€14,521
down €14,521 (-88.0%), from €16,506 to €1,984
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 | €2,405,996 | €2,212,357 | -€193,640 | -8.0% |
| Fixed assets | 21/28 | €1,434,528 | €1,903,300 | +€468,772 | +32.7% |
| Tangible fixed assets | 22/27 | €70,334 | €534,106 | +€463,772 | +659% |
| Land and buildings | 22 | - | €474,487 | +€474,487 | |
| Furniture and vehicles | 24 | €66,354 | €56,215 | -€10,139 | -15.3% |
| Other tangible fixed assets | 26 | €3,980 | €3,404 | -€576 | -14.5% |
| Financial fixed assets | 28 | €1,364,195 | €1,369,195 | +€5,000 | +0.4% |
| Current assets | 29/58 | €971,468 | €309,056 | -€662,412 | -68.2% |
| Amounts receivable within one year | 40/41 | €829,323 | €241,388 | -€587,935 | -70.9% |
| Trade receivables | 40 | €11,070 | €22,177 | +€11,106 | +100% |
| Other amounts receivable | 41 | €818,253 | €219,211 | -€599,042 | -73.2% |
| Cash at bank and in hand | 54/58 | €142,145 | €67,668 | -€74,477 | -52.4% |
| Total equity and liabilities | 10/49 | €2,405,996 | €2,212,357 | -€193,640 | -8.0% |
| Equity | 10/15 | €2,124,788 | €2,042,868 | -€81,920 | -3.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,112,388 | €2,030,468 | -€81,920 | -3.9% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €2,110,533 | €2,028,613 | -€81,920 | -3.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €281,208 | €169,488 | -€111,720 | -39.7% |
| Amounts payable after more than one year | 17 | €212,052 | €31,640 | -€180,412 | -85.1% |
| Financial debts | 170/4 | €212,052 | €31,640 | -€180,412 | -85.1% |
| Amounts payable within one year | 42/48 | €69,156 | €137,848 | +€68,693 | +99.3% |
| Current portion of amounts payable after more than one year | 42 | €29,752 | €30,412 | +€660 | +2.2% |
| Trade debts | 44 | €7,708 | €16,934 | +€9,226 | +120% |
| Suppliers | 440/4 | €7,708 | €16,934 | +€9,226 | +120% |
| Taxes, remuneration and social security | 45 | €7,506 | €2,508 | -€4,998 | -66.6% |
| Taxes | 450/3 | €7,506 | €2,508 | -€4,998 | -66.6% |
| Other amounts payable | 47/48 | €24,190 | €87,995 | +€63,804 | +264% |
| Non-recurring operating income | 76A | €13,390 | €0 | -€13,390 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,519 | €17,171 | +€4,652 | +37.2% |
| Other operating charges | 640/8 | €9,615 | €60,647 | +€51,032 | +531% |
| Gross operating margin | 9900 | €70,816 | €35,496 | -€35,320 | -49.9% |
| Operating profit (loss) | 9901 | €48,682 | -€42,322 | -€91,004 | |
| Financial income | 75/76B | €9,855 | €69,297 | +€59,442 | +603% |
| Recurring financial income | 75 | €9,855 | €69,297 | +€59,442 | +603% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €3,178 | €25,321 | +€22,143 | +697% |
| Recurring financial charges | 65 | €3,178 | €25,321 | +€22,143 | +697% |
| Profit (loss) for the period before taxes | 9903 | €55,359 | €1,654 | -€53,706 | -97.0% |
| Income taxes | 67/77 | €16,506 | €1,984 | -€14,521 | -88.0% |
| Profit (loss) for the period | 9904 | €38,854 | -€331 | -€39,184 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,854 | -€331 | -€39,184 |
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 24 October 2026 via checked.be.