@-SIGN: 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.
@-SIGN
Largest movements
- Tangible fixed assets -€23,436
down €23,436 (-10.5%), from €223,395 to €199,959
of which Land and buildings: -€19,172
- Cash -€11,355
down €11,355 (-17.3%), from €65,741 to €54,386
mainly Debts after one year (-€32,220) and Contributions, distributions and other (-€15,478)
- Receivables within one year -€8,673
down €8,673 (-22.2%), from €39,042 to €30,369
of which Other amounts receivable: -€6,053
- Debts after one year -€32,220
down €32,220 (-21.1%), from €152,650 to €120,431
- Current portion of long-term debt -€8,673
down €8,673 (-21.2%), from €40,893 to €32,220
- Tax, wage and social debts -€7,895
down €7,895 (-66.8%), from €11,819 to €3,924
- Reserves +€6,785
up €6,785 (+5.4%), from €124,853 to €131,638
of which Distributable reserves: +€6,785
- Gross operating margin +€1,709
up €1,709 (+2.3%), from €75,944 to €77,653
- Financial charges -€1,618
down €1,618 (-19.5%), from €8,311 to €6,693
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 | €335,633 | €293,132 | -€42,501 | -12.7% |
| Fixed assets | 21/28 | €223,395 | €202,959 | -€20,436 | -9.1% |
| Tangible fixed assets | 22/27 | €223,395 | €199,959 | -€23,436 | -10.5% |
| Land and buildings | 22 | €210,155 | €190,983 | -€19,172 | -9.1% |
| Plant, machinery and equipment | 23 | €11,822 | €8,074 | -€3,749 | -31.7% |
| Furniture and vehicles | 24 | €1,418 | €903 | -€515 | -36.3% |
| Financial fixed assets | 28 | - | €3,000 | +€3,000 | |
| Current assets | 29/58 | €112,238 | €90,173 | -€22,065 | -19.7% |
| Stocks and contracts in progress | 3 | €7,456 | €5,419 | -€2,037 | -27.3% |
| Stocks | 30/36 | €7,456 | €5,419 | -€2,037 | -27.3% |
| Amounts receivable within one year | 40/41 | €39,042 | €30,369 | -€8,673 | -22.2% |
| Trade receivables | 40 | €16,565 | €13,945 | -€2,620 | -15.8% |
| Other amounts receivable | 41 | €22,477 | €16,424 | -€6,053 | -26.9% |
| Cash at bank and in hand | 54/58 | €65,741 | €54,386 | -€11,355 | -17.3% |
| Total equity and liabilities | 10/49 | €335,633 | €293,132 | -€42,501 | -12.7% |
| Equity | 10/15 | €125,853 | €132,638 | +€6,785 | +5.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €124,853 | €131,638 | +€6,785 | +5.4% |
| Tax-exempt reserves | 132 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €120,853 | €127,638 | +€6,785 | +5.6% |
| Amounts payable | 17/49 | €209,780 | €160,494 | -€49,286 | -23.5% |
| Amounts payable after more than one year | 17 | €152,650 | €120,431 | -€32,220 | -21.1% |
| Financial debts | 170/4 | €152,650 | €120,431 | -€32,220 | -21.1% |
| Amounts payable within one year | 42/48 | €57,130 | €40,063 | -€17,066 | -29.9% |
| Current portion of amounts payable after more than one year | 42 | €40,893 | €32,220 | -€8,673 | -21.2% |
| Trade debts | 44 | €4,418 | €3,920 | -€498 | -11.3% |
| Suppliers | 440/4 | €4,418 | €3,920 | -€498 | -11.3% |
| Taxes, remuneration and social security | 45 | €11,819 | €3,924 | -€7,895 | -66.8% |
| Taxes | 450/3 | €11,819 | €3,924 | -€7,895 | -66.8% |
| Remuneration, social security and pensions | 62 | €12,581 | €13,263 | +€682 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,186 | €25,226 | +€40 | +0.2% |
| Other operating charges | 640/8 | €2,100 | €1,655 | -€446 | -21.2% |
| Gross operating margin | 9900 | €75,944 | €77,653 | +€1,709 | +2.3% |
| Operating profit (loss) | 9901 | €36,077 | €37,510 | +€1,434 | +4.0% |
| Financial income | 75/76B | €1,464 | €1,349 | -€115 | -7.9% |
| Recurring financial income | 75 | €1,464 | €1,349 | -€115 | -7.9% |
| Financial charges | 65/66B | €8,311 | €6,693 | -€1,618 | -19.5% |
| Recurring financial charges | 65 | €8,311 | €6,693 | -€1,618 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €29,229 | €32,166 | +€2,936 | +10.0% |
| Income taxes | 67/77 | €9,168 | €9,902 | +€734 | +8.0% |
| Profit (loss) for the period | 9904 | €20,061 | €22,264 | +€2,203 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €20,061 | €22,264 | +€2,203 | +11.0% |
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 9 October 2026 via checked.be.