SIDE BY SIDE: 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.
SIDE BY SIDE
Largest movements
- Cash -€36,407
down €36,407 (-74.9%), from €48,630 to €12,223
mainly Other debts (-€60,262) and Debts after one year (-€20,723)
- Receivables within one year -€32,365
down €32,365 (-35.6%), from €91,015 to €58,649
of which Other amounts receivable: -€38,011
- Tangible fixed assets -€20,187
down €20,187 (-3.9%), from €516,209 to €496,022
of which Land and buildings: -€10,805
- Other debts -€60,262
down €60,262 (-100.0%), from €60,262 to €0
- Debts after one year -€20,723
down €20,723 (-5.2%), from €396,369 to €375,646
- Tax, wage and social debts -€9,843
down €9,843 (-41.6%), from €23,685 to €13,841
- Gross operating margin -€64,385
down €64,385 (-61.4%), from €104,860 to €40,475
- Taxes -€18,729
down €18,729 (-93.4%), from €20,062 to €1,333
- Other operating charges +€4,808
up €4,808 (+566.7%), from €848 to €5,657
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 | €660,677 | €569,996 | -€90,681 | -13.7% |
| Fixed assets | 21/28 | €519,209 | €499,022 | -€20,187 | -3.9% |
| Tangible fixed assets | 22/27 | €516,209 | €496,022 | -€20,187 | -3.9% |
| Land and buildings | 22 | €487,985 | €477,180 | -€10,805 | -2.2% |
| Furniture and vehicles | 24 | €28,224 | €18,842 | -€9,382 | -33.2% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €141,468 | €70,974 | -€70,494 | -49.8% |
| Amounts receivable within one year | 40/41 | €91,015 | €58,649 | -€32,365 | -35.6% |
| Trade receivables | 40 | €8,428 | €14,074 | +€5,646 | +67.0% |
| Other amounts receivable | 41 | €82,587 | €44,575 | -€38,011 | -46.0% |
| Cash at bank and in hand | 54/58 | €48,630 | €12,223 | -€36,407 | -74.9% |
| Deferred charges and accrued income | 490/1 | €1,823 | €102 | -€1,721 | -94.4% |
| Total equity and liabilities | 10/49 | €660,677 | €569,996 | -€90,681 | -13.7% |
| Equity | 10/15 | €150,611 | €154,171 | +€3,560 | +2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €19,339 | €19,339 | = | 0.0% |
| Distributable reserves | 133 | €19,339 | €19,339 | = | 0.0% |
| Profit (loss) carried forward | 14 | €112,671 | €116,231 | +€3,560 | +3.2% |
| Amounts payable | 17/49 | €510,066 | €415,826 | -€94,241 | -18.5% |
| Amounts payable after more than one year | 17 | €396,369 | €375,646 | -€20,723 | -5.2% |
| Financial debts | 170/4 | €396,369 | €375,646 | -€20,723 | -5.2% |
| Amounts payable within one year | 42/48 | €113,698 | €40,180 | -€73,518 | -64.7% |
| Current portion of amounts payable after more than one year | 42 | €22,090 | €23,618 | +€1,529 | +6.9% |
| Trade debts | 44 | €7,661 | €2,720 | -€4,941 | -64.5% |
| Suppliers | 440/4 | €7,661 | €2,720 | -€4,941 | -64.5% |
| Taxes, remuneration and social security | 45 | €23,685 | €13,841 | -€9,843 | -41.6% |
| Taxes | 450/3 | €23,685 | €13,841 | -€9,843 | -41.6% |
| Other amounts payable | 47/48 | €60,262 | €0 | -€60,262 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,754 | €20,187 | +€433 | +2.2% |
| Other operating charges | 640/8 | €848 | €5,657 | +€4,808 | +566.7% |
| Gross operating margin | 9900 | €104,860 | €40,475 | -€64,385 | -61.4% |
| Operating profit (loss) | 9901 | €84,257 | €14,632 | -€69,626 | -82.6% |
| Financial income | 75/76B | €1,750 | €2,023 | +€273 | +15.6% |
| Recurring financial income | 75 | €1,750 | €2,023 | +€273 | +15.6% |
| Financial charges | 65/66B | €11,408 | €11,762 | +€354 | +3.1% |
| Recurring financial charges | 65 | €11,408 | €11,762 | +€354 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €74,600 | €4,893 | -€69,707 | -93.4% |
| Income taxes | 67/77 | €20,062 | €1,333 | -€18,729 | -93.4% |
| Profit (loss) for the period | 9904 | €54,538 | €3,560 | -€50,978 | -93.5% |
| Profit (loss) for the period to be appropriated | 9905 | €54,538 | €3,560 | -€50,978 | -93.5% |
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 1 October 2026 via checked.be.