SOLUTION'S: 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.
SOLUTION'S
Largest movements
- Tangible fixed assets +€147,708
up €147,708 (+121.0%), from €122,121 to €269,828
of which Land and buildings: +€150,489
- Deferred charges and accrued income +€39,753
up €39,753 (+9008.8%), from €441 to €40,195
- Cash -€36,591
down €36,591 (-96.0%), from €38,131 to €1,540
mainly Investment in fixed assets (net) (-€158,223) and Trade debts (-€72,001)
- Receivables within one year +€3,993
up €3,993 (+25.0%), from €15,980 to €19,973
of which Trade receivables: +€7,478
- Debts after one year +€134,507
up €134,507 (+186.1%), from €72,274 to €206,782
- Trade debts -€72,001
down €72,001 (-83.7%), from €86,057 to €14,056
- Other debts +€67,024
up €67,024 (+254.7%), from €26,315 to €93,339
- Profit (loss) carried forward +€28,575
up €28,575 (+83.8%), from -€34,086 to -€5,511
- Current portion of long-term debt -€5,080
down €5,080 (-50.4%), from €10,072 to €4,993
- Gross operating margin -€2,847
down €2,847 (-6.4%), from €44,538 to €41,692
- Depreciation +€2,302
up €2,302 (+28.0%), from €8,214 to €10,516
- Other operating charges -€869
down €869 (-71.2%), from €1,221 to €352
- Financial charges +€473
up €473 (+22.2%), from €2,131 to €2,604
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 | €179,673 | €334,535 | +€154,863 | +86.2% |
| Fixed assets | 21/28 | €122,121 | €269,828 | +€147,708 | +121.0% |
| Tangible fixed assets | 22/27 | €122,121 | €269,828 | +€147,708 | +121.0% |
| Land and buildings | 22 | €108,296 | €258,785 | +€150,489 | +139.0% |
| Plant, machinery and equipment | 23 | €666 | €707 | +€41 | +6.2% |
| Furniture and vehicles | 24 | €12,451 | €9,916 | -€2,535 | -20.4% |
| Other tangible fixed assets | 26 | €707 | €420 | -€288 | -40.6% |
| Current assets | 29/58 | €57,552 | €64,707 | +€7,155 | +12.4% |
| Stocks and contracts in progress | 3 | €3,000 | €3,000 | = | 0.0% |
| Stocks | 30/36 | €3,000 | €3,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €15,980 | €19,973 | +€3,993 | +25.0% |
| Trade receivables | 40 | €8,352 | €15,830 | +€7,478 | +89.5% |
| Other amounts receivable | 41 | €7,628 | €4,143 | -€3,485 | -45.7% |
| Cash at bank and in hand | 54/58 | €38,131 | €1,540 | -€36,591 | -96.0% |
| Deferred charges and accrued income | 490/1 | €441 | €40,195 | +€39,753 | +9008.8% |
| Total equity and liabilities | 10/49 | €179,673 | €334,535 | +€154,863 | +86.2% |
| Equity | 10/15 | -€15,386 | €13,189 | +€28,575 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,086 | -€5,511 | +€28,575 | +83.8% |
| Amounts payable | 17/49 | €195,059 | €321,346 | +€126,287 | +64.7% |
| Amounts payable after more than one year | 17 | €72,274 | €206,782 | +€134,507 | +186.1% |
| Financial debts | 170/4 | €72,274 | €206,782 | +€134,507 | +186.1% |
| Amounts payable within one year | 42/48 | €122,785 | €114,565 | -€8,220 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €10,072 | €4,993 | -€5,080 | -50.4% |
| Trade debts | 44 | €86,057 | €14,056 | -€72,001 | -83.7% |
| Suppliers | 440/4 | €86,057 | €14,056 | -€72,001 | -83.7% |
| Taxes, remuneration and social security | 45 | €341 | €2,177 | +€1,836 | +538.8% |
| Taxes | 450/3 | €341 | €177 | -€164 | -48.0% |
| Remuneration and social security | 454/9 | €0 | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €26,315 | €93,339 | +€67,024 | +254.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,214 | €10,516 | +€2,302 | +28.0% |
| Other operating charges | 640/8 | €1,221 | €352 | -€869 | -71.2% |
| Gross operating margin | 9900 | €44,538 | €41,692 | -€2,847 | -6.4% |
| Operating profit (loss) | 9901 | €35,103 | €30,824 | -€4,280 | -12.2% |
| Financial income | 75/76B | €234 | €359 | +€125 | +53.2% |
| Recurring financial income | 75 | €234 | €359 | +€125 | +53.2% |
| Financial charges | 65/66B | €2,131 | €2,604 | +€473 | +22.2% |
| Recurring financial charges | 65 | €2,131 | €2,604 | +€473 | +22.2% |
| Profit (loss) for the period before taxes | 9903 | €33,206 | €28,578 | -€4,628 | -13.9% |
| Income taxes | 67/77 | €174 | €3 | -€172 | -98.3% |
| Profit (loss) for the period | 9904 | €33,032 | €28,575 | -€4,457 | -13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €33,032 | €28,575 | -€4,457 | -13.5% |
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 5 October 2026 via checked.be.