SHAKE-UP: 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.
SHAKE-UP
Largest movements
- Tangible fixed assets -€8,790
down €8,790 (-3.4%), from €255,073 to €246,284
- Profit (loss) carried forward +€16,524
up €16,524, from -€10,902 to €5,623
- Debts after one year -€14,913
down €14,913 (-8.7%), from €171,183 to €156,270
- Current portion of long-term debt -€9,408
down €9,408 (-38.7%), from €24,321 to €14,913
- Turnover -€17,039
down €17,039 (-38.0%), from €44,797 to €27,757
- Depreciation -€7,350
down €7,350 (-45.5%), from €16,140 to €8,790
- Gross operating margin +€5,951
up €5,951 (+24.9%), from €23,854 to €29,805
- Purchases and services -€1,340
down €1,340 (-6.4%), from €20,943 to €19,603
- Financial charges -€783
down €783 (-15.5%), from €5,061 to €4,278
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 | €263,047 | €257,617 | -€5,430 | -2.1% |
| Fixed assets | 21/28 | €255,073 | €246,284 | -€8,790 | -3.4% |
| Tangible fixed assets | 22/27 | €255,073 | €246,284 | -€8,790 | -3.4% |
| Land and buildings | 22 | €255,073 | €246,284 | -€8,790 | -3.4% |
| Current assets | 29/58 | €7,974 | €11,334 | +€3,360 | +42.1% |
| Amounts receivable within one year | 40/41 | €7,006 | €8,700 | +€1,694 | +24.2% |
| Trade receivables | 40 | €1,470 | €2,258 | +€788 | +53.6% |
| Other amounts receivable | 41 | €5,535 | €6,442 | +€907 | +16.4% |
| Cash at bank and in hand | 54/58 | €969 | €2,634 | +€1,665 | +171.9% |
| Total equity and liabilities | 10/49 | €263,047 | €257,617 | -€5,430 | -2.1% |
| Equity | 10/15 | €9,558 | €26,083 | +€16,524 | +172.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Share premium | 1100/10 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,902 | €5,623 | +€16,524 | |
| Amounts payable | 17/49 | €253,489 | €231,535 | -€21,954 | -8.7% |
| Amounts payable after more than one year | 17 | €171,183 | €156,270 | -€14,913 | -8.7% |
| Financial debts | 170/4 | €171,183 | €156,270 | -€14,913 | -8.7% |
| Amounts payable within one year | 42/48 | €82,306 | €75,265 | -€7,041 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €24,321 | €14,913 | -€9,408 | -38.7% |
| Trade debts | 44 | €4,354 | €6,745 | +€2,390 | +54.9% |
| Suppliers | 440/4 | €4,354 | €6,745 | +€2,390 | +54.9% |
| Taxes, remuneration and social security | 45 | €2,105 | €2,105 | = | 0.0% |
| Taxes | 450/3 | €2,105 | €2,105 | = | 0.0% |
| Other amounts payable | 47/48 | €51,526 | €51,502 | -€23 | 0.0% |
| Turnover | 70 | €44,797 | €27,757 | -€17,039 | -38.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €20,943 | €19,603 | -€1,340 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,140 | €8,790 | -€7,350 | -45.5% |
| Other operating charges | 640/8 | €511 | €214 | -€298 | -58.2% |
| Gross operating margin | 9900 | €23,854 | €29,805 | +€5,951 | +24.9% |
| Operating profit (loss) | 9901 | €7,203 | €20,802 | +€13,599 | +188.8% |
| Financial income | 75/76B | €2 | €0 | -€2 | -99.4% |
| Recurring financial income | 75 | €2 | €0 | -€1 | -99.3% |
| Non-recurring financial income | 76B | €0 | €0 | -€0 | -95.0% |
| Financial charges | 65/66B | €5,061 | €4,278 | -€783 | -15.5% |
| Recurring financial charges | 65 | €5,061 | €4,278 | -€783 | -15.5% |
| Profit (loss) for the period before taxes | 9903 | €2,144 | €16,524 | +€14,380 | +670.6% |
| Profit (loss) for the period | 9904 | €2,144 | €16,524 | +€14,380 | +670.6% |
| Profit (loss) for the period to be appropriated | 9905 | €2,144 | €16,524 | +€14,380 | +670.6% |
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.