SPECIAL ATTRIBUTE SERVICE: 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.
SPECIAL ATTRIBUTE SERVICE
Largest movements
- Stocks and contracts +€645,024
new in 2025: €645,024
- Receivables within one year +€234,950
up €234,950 (+1,022%), from €22,993 to €257,943
of which Trade receivables: +€244,636
- Tangible fixed assets -€220,494
down €220,494 (-15.2%), from €1.5m to €1.2m
of which Land and buildings: -€213,638
- Current investments -€98,299
down €98,299 (-92.7%), from €106,038 to €7,739
- Cash -€24,684
down €24,684 (-55.2%), from €44,699 to €20,015
mainly Stocks and contracts (-€645,024) and Receivables within one year (-€234,950)
- Debts after one year +€479,723
up €479,723 (+570%), from €84,089 to €563,812
- Profit (loss) carried forward -€126,390
down €126,390, from €11,142 to -€115,248
- Other debts +€91,853
up €91,853 (+48.3%), from €190,129 to €281,982
- Trade debts +€68,154
up €68,154 (+951%), from €7,163 to €75,317
- Gross operating margin -€157,849
down €157,849, from €112,813 to -€45,036
- Other operating charges +€15,726
up €15,726 (+139%), from €11,353 to €27,079
- Depreciation -€10,473
down €10,473 (-20.1%), from €52,012 to €41,539
- Taxes -€4,111
down €4,111 (-94.8%), from €4,336 to €225
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.
Derived cash bridge
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 | €1,650,255 | €2,181,547 | +€531,292 | +32.2% |
| Fixed assets | 21/28 | €1,451,645 | €1,231,151 | -€220,494 | -15.2% |
| Tangible fixed assets | 22/27 | €1,451,645 | €1,231,151 | -€220,494 | -15.2% |
| Land and buildings | 22 | €1,412,700 | €1,199,062 | -€213,638 | -15.1% |
| Plant, machinery and equipment | 23 | €1,577 | €1,318 | -€258 | -16.4% |
| Furniture and vehicles | 24 | €13,976 | €9,753 | -€4,223 | -30.2% |
| Other tangible fixed assets | 26 | €23,392 | €21,017 | -€2,375 | -10.2% |
| Current assets | 29/58 | €198,610 | €950,396 | +€751,786 | +379% |
| Stocks and contracts in progress | 3 | - | €645,024 | +€645,024 | |
| Stocks | 30/36 | - | €645,024 | +€645,024 | |
| Amounts receivable within one year | 40/41 | €22,993 | €257,943 | +€234,950 | +1,022% |
| Trade receivables | 40 | €12,737 | €257,372 | +€244,636 | +1,921% |
| Other amounts receivable | 41 | €10,256 | €571 | -€9,685 | -94.4% |
| Current investments | 50/53 | €106,038 | €7,739 | -€98,299 | -92.7% |
| Cash at bank and in hand | 54/58 | €44,699 | €20,015 | -€24,684 | -55.2% |
| Deferred charges and accrued income | 490/1 | €24,881 | €19,676 | -€5,205 | -20.9% |
| Total equity and liabilities | 10/49 | €1,650,255 | €2,181,547 | +€531,292 | +32.2% |
| Equity | 10/15 | €1,325,198 | €1,208,384 | -€116,814 | -8.8% |
| Contributions | 10/11 | €72,400 | €72,400 | = | 0.0% |
| Reserves | 13 | €1,241,656 | €1,251,232 | +€9,576 | +0.8% |
| Tax-exempt reserves | 132 | €100,338 | €98,771 | -€1,567 | -1.6% |
| Distributable reserves | 133 | €1,141,318 | €1,152,461 | +€11,142 | +1.0% |
| Profit (loss) carried forward | 14 | €11,142 | -€115,248 | -€126,390 | |
| Provisions and deferred taxes | 16 | €16,634 | €16,112 | -€522 | -3.1% |
| Deferred taxes | 168 | €16,634 | €16,112 | -€522 | -3.1% |
| Amounts payable | 17/49 | €308,423 | €957,051 | +€648,629 | +210% |
| Amounts payable after more than one year | 17 | €84,089 | €563,812 | +€479,723 | +570% |
| Financial debts | 170/4 | €84,089 | €563,812 | +€479,723 | +570% |
| Amounts payable within one year | 42/48 | €221,984 | €390,890 | +€168,906 | +76.1% |
| Current portion of amounts payable after more than one year | 42 | €20,075 | €20,277 | +€202 | +1.0% |
| Trade debts | 44 | €7,163 | €75,317 | +€68,154 | +951% |
| Suppliers | 440/4 | €7,163 | €75,317 | +€68,154 | +951% |
| Taxes, remuneration and social security | 45 | €4,616 | €13,314 | +€8,697 | +188% |
| Taxes | 450/3 | €4,616 | €13,314 | +€8,697 | +188% |
| Other amounts payable | 47/48 | €190,129 | €281,982 | +€91,853 | +48.3% |
| Accrued charges and deferred income | 492/3 | €2,350 | €2,350 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,012 | €41,539 | -€10,473 | -20.1% |
| Other operating charges | 640/8 | €11,353 | €27,079 | +€15,726 | +139% |
| Gross operating margin | 9900 | €112,813 | -€45,036 | -€157,849 | |
| Operating profit (loss) | 9901 | €49,448 | -€113,654 | -€163,102 | |
| Financial income | 75/76B | €1,563 | €1,191 | -€372 | -23.8% |
| Recurring financial income | 75 | €1,563 | €1,191 | -€372 | -23.8% |
| Financial charges | 65/66B | €3,696 | €4,648 | +€952 | +25.8% |
| Recurring financial charges | 65 | €3,696 | €4,648 | +€952 | +25.8% |
| Profit (loss) for the period before taxes | 9903 | €47,315 | -€117,112 | -€164,427 | |
| Transfer from deferred taxes | 780 | €522 | €522 | = | 0.0% |
| Income taxes | 67/77 | €4,336 | €225 | -€4,111 | -94.8% |
| Profit (loss) for the period | 9904 | €43,502 | -€116,814 | -€160,316 | |
| Transfer from tax-exempt reserves | 789 | €1,567 | €1,567 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,068 | -€115,248 | -€160,316 |
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 20 October 2026 via checked.be.