SMALL CHANGE: 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.
SMALL CHANGE
Largest movements
- Tangible fixed assets -€201,870
down €201,870 (-98.8%), from €204,371 to €2,501
of which Land and buildings: -€202,055
- Cash +€53,736
up €53,736 (+104.1%), from €51,600 to €105,336
mainly Investment in fixed assets (net) (+€200,806) and Net result for the year (+€106,397)
- Receivables within one year -€18,010
down €18,010 (-51.8%), from €34,755 to €16,745
of which Other amounts receivable: -€20,013
- Debts after one year -€140,756
no longer reported in 2025 (was €140,756)
- Current portion of long-term debt -€13,862
no longer reported in 2025 (was €13,862)
- Reserves -€10,655
down €10,655 (-9.1%), from €117,052 to €106,397
- Gross operating margin +€87,945
up €87,945 (+170.5%), from €51,591 to €139,536
- Taxes +€21,654
up €21,654 (+243.1%), from €8,908 to €30,562
- Depreciation -€7,391
down €7,391 (-87.4%), from €8,455 to €1,064
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 | €297,335 | €134,043 | -€163,292 | -54.9% |
| Fixed assets | 21/28 | €205,808 | €3,938 | -€201,870 | -98.1% |
| Tangible fixed assets | 22/27 | €204,371 | €2,501 | -€201,870 | -98.8% |
| Land and buildings | 22 | €202,055 | - | -€202,055 | |
| Furniture and vehicles | 24 | €2,316 | €2,501 | +€185 | +8.0% |
| Financial fixed assets | 28 | €1,437 | €1,437 | = | 0.0% |
| Current assets | 29/58 | €91,527 | €130,105 | +€38,578 | +42.1% |
| Amounts receivable within one year | 40/41 | €34,755 | €16,745 | -€18,010 | -51.8% |
| Trade receivables | 40 | - | €2,003 | +€2,003 | |
| Other amounts receivable | 41 | €34,755 | €14,742 | -€20,013 | -57.6% |
| Current investments | 50/53 | €2,382 | €4,588 | +€2,206 | +92.6% |
| Cash at bank and in hand | 54/58 | €51,600 | €105,336 | +€53,736 | +104.1% |
| Deferred charges and accrued income | 490/1 | €2,791 | €3,436 | +€646 | +23.1% |
| Total equity and liabilities | 10/49 | €297,335 | €134,043 | -€163,292 | -54.9% |
| Equity | 10/15 | €135,652 | €124,997 | -€10,655 | -7.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €117,052 | €106,397 | -€10,655 | -9.1% |
| Distributable reserves | 133 | €117,052 | €106,397 | -€10,655 | -9.1% |
| Amounts payable | 17/49 | €161,684 | €9,046 | -€152,637 | -94.4% |
| Amounts payable after more than one year | 17 | €140,756 | - | -€140,756 | |
| Financial debts | 170/4 | €140,756 | - | -€140,756 | |
| Amounts payable within one year | 42/48 | €20,927 | €9,046 | -€11,881 | -56.8% |
| Current portion of amounts payable after more than one year | 42 | €13,862 | - | -€13,862 | |
| Trade debts | 44 | €3,157 | €2,343 | -€814 | -25.8% |
| Suppliers | 440/4 | €3,157 | €2,343 | -€814 | -25.8% |
| Taxes, remuneration and social security | 45 | €3,908 | €6,704 | +€2,795 | +71.5% |
| Taxes | 450/3 | €3,908 | €6,654 | +€2,745 | +70.2% |
| Remuneration and social security | 454/9 | - | €50 | +€50 | |
| Non-recurring operating income | 76A | - | €37,261 | +€37,261 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,455 | €1,064 | -€7,391 | -87.4% |
| Other operating charges | 640/8 | €204 | €787 | +€583 | +285.2% |
| Gross operating margin | 9900 | €51,591 | €139,536 | +€87,945 | +170.5% |
| Operating profit (loss) | 9901 | €42,932 | €137,686 | +€94,754 | +220.7% |
| Financial income | 75/76B | €1,489 | €2,494 | +€1,005 | +67.5% |
| Recurring financial income | 75 | €1,489 | €2,494 | +€1,005 | +67.5% |
| Financial charges | 65/66B | €3,587 | €3,220 | -€367 | -10.2% |
| Recurring financial charges | 65 | €3,587 | €3,220 | -€367 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €40,833 | €136,959 | +€96,126 | +235.4% |
| Income taxes | 67/77 | €8,908 | €30,562 | +€21,654 | +243.1% |
| Profit (loss) for the period | 9904 | €31,925 | €106,397 | +€74,472 | +233.3% |
| Profit (loss) for the period to be appropriated | 9905 | €31,925 | €106,397 | +€74,472 | +233.3% |
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 2 October 2026 via checked.be.