Slice: 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.
Slice
Largest movements
- Cash -€16,296
down €16,296 (-42.9%), from €38,018 to €21,722
mainly Debts after one year (-€40,110) and Other debts (-€13,433)
- Tangible fixed assets -€8,959
down €8,959 (-1.5%), from €579,116 to €570,157
of which Land and buildings: -€12,091
- Debts after one year -€40,110
down €40,110 (-6.4%), from €623,679 to €583,570
- Reserves +€38,401
up €38,401 (+37.2%), from €103,146 to €141,548
- Other debts -€13,433
down €13,433 (-69.6%), from €19,287 to €5,854
- Tax, wage and social debts -€8,794
down €8,794 (-29.0%), from €30,331 to €21,538
- Depreciation -€67,885
down €67,885 (-80.7%), from €84,090 to €16,205
- Taxes +€17,469
up €17,469 (+1682.6%), from €1,038 to €18,507
- Gross operating margin +€9,582
up €9,582 (+10.7%), from €89,500 to €99,083
- Financial charges +€8,506
up €8,506 (+74.1%), from €11,486 to €19,993
- Other operating charges +€2,123
up €2,123 (+52.3%), from €4,060 to €6,182
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 | €834,988 | €815,834 | -€19,154 | -2.3% |
| Fixed assets | 21/28 | €729,112 | €720,153 | -€8,959 | -1.2% |
| Tangible fixed assets | 22/27 | €579,116 | €570,157 | -€8,959 | -1.5% |
| Land and buildings | 22 | €567,905 | €555,814 | -€12,091 | -2.1% |
| Plant, machinery and equipment | 23 | €4,194 | €7,212 | +€3,018 | +72.0% |
| Furniture and vehicles | 24 | €7,017 | €7,131 | +€114 | +1.6% |
| Financial fixed assets | 28 | €149,996 | €149,996 | = | 0.0% |
| Current assets | 29/58 | €105,876 | €95,680 | -€10,196 | -9.6% |
| Amounts receivable within one year | 40/41 | €66,288 | €72,651 | +€6,364 | +9.6% |
| Trade receivables | 40 | €62,361 | €68,725 | +€6,364 | +10.2% |
| Other amounts receivable | 41 | €3,926 | €3,926 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,018 | €21,722 | -€16,296 | -42.9% |
| Deferred charges and accrued income | 490/1 | €1,571 | €1,307 | -€263 | -16.8% |
| Total equity and liabilities | 10/49 | €834,988 | €815,834 | -€19,154 | -2.3% |
| Equity | 10/15 | €105,546 | €143,948 | +€38,401 | +36.4% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €103,146 | €141,548 | +€38,401 | +37.2% |
| Distributable reserves | 133 | €103,146 | €141,548 | +€38,401 | +37.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €729,442 | €671,886 | -€57,556 | -7.9% |
| Amounts payable after more than one year | 17 | €623,679 | €583,570 | -€40,110 | -6.4% |
| Financial debts | 170/4 | €623,679 | €583,570 | -€40,110 | -6.4% |
| Amounts payable within one year | 42/48 | €97,107 | €79,714 | -€17,394 | -17.9% |
| Current portion of amounts payable after more than one year | 42 | €39,222 | €40,110 | +€887 | +2.3% |
| Financial debts | 43 | €3,024 | €2,269 | -€755 | -25.0% |
| Credit institutions | 430/8 | €3,024 | €2,269 | -€755 | -25.0% |
| Trade debts | 44 | €5,243 | €9,944 | +€4,701 | +89.6% |
| Suppliers | 440/4 | €5,243 | €9,944 | +€4,701 | +89.6% |
| Taxes, remuneration and social security | 45 | €30,331 | €21,538 | -€8,794 | -29.0% |
| Taxes | 450/3 | €30,331 | €21,538 | -€8,794 | -29.0% |
| Other amounts payable | 47/48 | €19,287 | €5,854 | -€13,433 | -69.6% |
| Accrued charges and deferred income | 492/3 | €8,655 | €8,603 | -€52 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,090 | €16,205 | -€67,885 | -80.7% |
| Other operating charges | 640/8 | €4,060 | €6,182 | +€2,123 | +52.3% |
| Gross operating margin | 9900 | €89,500 | €99,083 | +€9,582 | +10.7% |
| Operating profit (loss) | 9901 | €1,351 | €76,695 | +€75,344 | +5578.3% |
| Financial income | 75/76B | €215 | €206 | -€9 | -4.2% |
| Recurring financial income | 75 | €215 | €206 | -€9 | -4.2% |
| Financial charges | 65/66B | €11,486 | €19,993 | +€8,506 | +74.1% |
| Recurring financial charges | 65 | €11,486 | €19,993 | +€8,506 | +74.1% |
| Profit (loss) for the period before taxes | 9903 | -€9,921 | €56,908 | +€66,829 | |
| Income taxes | 67/77 | €1,038 | €18,507 | +€17,469 | +1682.6% |
| Profit (loss) for the period | 9904 | -€10,959 | €38,401 | +€49,360 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,959 | €38,401 | +€49,360 |
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 11 October 2026 via checked.be.