SPECIAL PROPERTIES: 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.
SPECIAL PROPERTIES
Largest movements
- Tangible fixed assets -€178,735
down €178,735 (-2.7%), from €6.5m to €6.4m
of which Plant, machinery and equipment: -€108,797
- Cash -€111,326
down €111,326 (-47.8%), from €232,761 to €121,434
mainly Contributions, distributions and other (-€190,000) and Debts after one year (-€107,718)
- Reserves -€242,922
down €242,922 (-15.5%), from €1.6m to €1.3m
of which Distributable reserves: -€190,000
- Other debts +€148,338
up €148,338 (+30.5%), from €485,692 to €634,030
- Debts after one year -€107,718
down €107,718 (-4.6%), from €2.3m to €2.2m
- Trade debts -€95,380
down €95,380 (-62.4%), from €152,876 to €57,497
- Gross operating margin +€43,100
up €43,100 (+16.3%), from €264,565 to €307,664
- Financial income -€23,008
down €23,008 (-93.9%), from €24,497 to €1,489
- Depreciation +€16,633
up €16,633 (+6.7%), from €248,242 to €264,876
- Taxes +€7,314
up €7,314 (+1387.6%), from €527 to €7,842
- Other operating charges +€7,174
up €7,174 (+14.1%), from €50,889 to €58,063
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 | €8,595,372 | €8,285,506 | -€309,866 | -3.6% |
| Fixed assets | 21/28 | €8,331,607 | €8,152,872 | -€178,735 | -2.1% |
| Tangible fixed assets | 22/27 | €6,531,607 | €6,352,872 | -€178,735 | -2.7% |
| Land and buildings | 22 | €6,422,512 | €6,352,872 | -€69,640 | -1.1% |
| Plant, machinery and equipment | 23 | €108,797 | - | -€108,797 | |
| Furniture and vehicles | 24 | €298 | - | -€298 | |
| Financial fixed assets | 28 | €1,800,000 | €1,800,000 | = | 0.0% |
| Current assets | 29/58 | €263,765 | €132,634 | -€131,131 | -49.7% |
| Amounts receivable within one year | 40/41 | €13,645 | - | -€13,645 | |
| Other amounts receivable | 41 | €13,645 | - | -€13,645 | |
| Cash at bank and in hand | 54/58 | €232,761 | €121,434 | -€111,326 | -47.8% |
| Deferred charges and accrued income | 490/1 | €17,359 | €11,200 | -€6,160 | -35.5% |
| Total equity and liabilities | 10/49 | €8,595,372 | €8,285,506 | -€309,866 | -3.6% |
| Equity | 10/15 | €5,190,602 | €4,951,881 | -€238,722 | -4.6% |
| Contributions | 10/11 | €3,610,255 | €3,610,255 | = | 0.0% |
| Capital | 10 | €3,610,255 | €3,610,255 | = | 0.0% |
| Issued capital | 100 | €3,610,255 | €3,610,255 | = | 0.0% |
| Reserves | 13 | €1,570,661 | €1,327,739 | -€242,922 | -15.5% |
| Non-distributable reserves | 130/1 | €178,525 | €178,525 | = | 0.0% |
| Legal reserve | 130 | €178,525 | €178,525 | = | 0.0% |
| Tax-exempt reserves | 132 | €892,136 | €839,214 | -€52,922 | -5.9% |
| Distributable reserves | 133 | €500,000 | €310,000 | -€190,000 | -38.0% |
| Profit (loss) carried forward | 14 | €9,686 | €13,887 | +€4,201 | +43.4% |
| Provisions and deferred taxes | 16 | €297,379 | €279,738 | -€17,641 | -5.9% |
| Deferred taxes | 168 | €297,379 | €279,738 | -€17,641 | -5.9% |
| Amounts payable | 17/49 | €3,107,391 | €3,053,888 | -€53,504 | -1.7% |
| Amounts payable after more than one year | 17 | €2,342,002 | €2,234,285 | -€107,718 | -4.6% |
| Financial debts | 170/4 | €2,342,002 | €2,234,285 | -€107,718 | -4.6% |
| Amounts payable within one year | 42/48 | €765,389 | €819,603 | +€54,214 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €105,803 | €107,718 | +€1,914 | +1.8% |
| Trade debts | 44 | €152,876 | €57,497 | -€95,380 | -62.4% |
| Suppliers | 440/4 | €152,876 | €57,497 | -€95,380 | -62.4% |
| Advances received on contracts in progress | 46 | €21,017 | €17,853 | -€3,165 | -15.1% |
| Taxes, remuneration and social security | 45 | - | €2,506 | +€2,506 | |
| Taxes | 450/3 | - | €2,506 | +€2,506 | |
| Other amounts payable | 47/48 | €485,692 | €634,030 | +€148,338 | +30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €248,242 | €264,876 | +€16,633 | +6.7% |
| Other operating charges | 640/8 | €50,889 | €58,063 | +€7,174 | +14.1% |
| Gross operating margin | 9900 | €264,565 | €307,664 | +€43,100 | +16.3% |
| Operating profit (loss) | 9901 | -€34,567 | -€15,274 | +€19,293 | +55.8% |
| Financial income | 75/76B | €24,497 | €1,489 | -€23,008 | -93.9% |
| Recurring financial income | 75 | €24,497 | €1,489 | -€23,008 | -93.9% |
| Financial charges | 65/66B | €45,886 | €44,736 | -€1,150 | -2.5% |
| Recurring financial charges | 65 | €45,886 | €44,736 | -€1,150 | -2.5% |
| Profit (loss) for the period before taxes | 9903 | -€55,956 | -€58,521 | -€2,565 | -4.6% |
| Transfer from deferred taxes | 780 | €10,141 | €17,641 | +€7,500 | +74.0% |
| Income taxes | 67/77 | €527 | €7,842 | +€7,314 | +1387.6% |
| Profit (loss) for the period | 9904 | -€46,342 | -€48,722 | -€2,379 | -5.1% |
| Transfer from tax-exempt reserves | 789 | €30,422 | €52,922 | +€22,500 | +74.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,920 | €4,201 | +€20,121 |
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.