STRUCTABO: 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.
STRUCTABO
Largest movements
- Receivables within one year -€206,731
down €206,731 (-82.3%), from €251,221 to €44,489
- Stocks and contracts -€163,701
down €163,701 (-32.0%), from €511,897 to €348,196
- Tangible fixed assets -€69,079
down €69,079 (-5.5%), from €1.3m to €1.2m
- Receivables after one year +€27,692
up €27,692 (+8.7%), from €318,202 to €345,894
- Short-term financial debts -€479,641
down €479,641 (-82.7%), from €579,641 to €100,000
- Accrued charges and deferred income +€56,900
up €56,900 (+103.0%), from €55,220 to €112,120
- Reserves +€44,656
up €44,656 (+2.7%), from €1.6m to €1.7m
of which Distributable reserves: +€44,656
- Gross operating margin -€61,215
down €61,215 (-30.6%), from €200,012 to €138,797
- Taxes -€12,087
down €12,087 (-44.7%), from €27,020 to €14,933
- Other operating charges -€11,594
down €11,594 (-23.6%), from €49,090 to €37,496
- Financial charges -€10,271
down €10,271 (-29.4%), from €34,904 to €24,633
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 | €2,380,227 | €1,970,009 | -€410,218 | -17.2% |
| Fixed assets | 21/28 | €1,293,937 | €1,224,857 | -€69,079 | -5.3% |
| Tangible fixed assets | 22/27 | €1,260,476 | €1,191,397 | -€69,079 | -5.5% |
| Land and buildings | 22 | €1,260,476 | €1,191,397 | -€69,079 | -5.5% |
| Financial fixed assets | 28 | €33,461 | €33,461 | = | 0.0% |
| Current assets | 29/58 | €1,086,290 | €745,152 | -€341,139 | -31.4% |
| Amounts receivable after more than one year | 29 | €318,202 | €345,894 | +€27,692 | +8.7% |
| Other amounts receivable | 291 | €318,202 | €345,894 | +€27,692 | +8.7% |
| Stocks and contracts in progress | 3 | €511,897 | €348,196 | -€163,701 | -32.0% |
| Stocks | 30/36 | €511,897 | €348,196 | -€163,701 | -32.0% |
| Amounts receivable within one year | 40/41 | €251,221 | €44,489 | -€206,731 | -82.3% |
| Other amounts receivable | 41 | €251,221 | €44,489 | -€206,731 | -82.3% |
| Cash at bank and in hand | 54/58 | €4,970 | €6,572 | +€1,602 | +32.2% |
| Total equity and liabilities | 10/49 | €2,380,227 | €1,970,009 | -€410,218 | -17.2% |
| Equity | 10/15 | €1,653,912 | €1,698,568 | +€44,656 | +2.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,635,320 | €1,679,976 | +€44,656 | +2.7% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €1,597,820 | €1,642,476 | +€44,656 | +2.8% |
| Amounts payable | 17/49 | €726,315 | €271,441 | -€454,874 | -62.6% |
| Amounts payable after more than one year | 17 | €26,376 | €15,817 | -€10,559 | -40.0% |
| Financial debts | 170/4 | €26,376 | €15,817 | -€10,559 | -40.0% |
| Amounts payable within one year | 42/48 | €644,719 | €143,504 | -€501,215 | -77.7% |
| Current portion of amounts payable after more than one year | 42 | €10,083 | €10,559 | +€476 | +4.7% |
| Financial debts | 43 | €579,641 | €100,000 | -€479,641 | -82.7% |
| Credit institutions | 430/8 | €579,641 | €100,000 | -€479,641 | -82.7% |
| Trade debts | 44 | €24,253 | €3,492 | -€20,760 | -85.6% |
| Suppliers | 440/4 | €24,253 | €3,492 | -€20,760 | -85.6% |
| Taxes, remuneration and social security | 45 | €30,743 | €29,453 | -€1,290 | -4.2% |
| Taxes | 450/3 | €30,743 | €29,453 | -€1,290 | -4.2% |
| Accrued charges and deferred income | 492/3 | €55,220 | €112,120 | +€56,900 | +103.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,079 | €17,079 | = | 0.0% |
| Other operating charges | 640/8 | €49,090 | €37,496 | -€11,594 | -23.6% |
| Gross operating margin | 9900 | €200,012 | €138,797 | -€61,215 | -30.6% |
| Operating profit (loss) | 9901 | €133,843 | €84,223 | -€49,621 | -37.1% |
| Financial charges | 65/66B | €34,904 | €24,633 | -€10,271 | -29.4% |
| Recurring financial charges | 65 | €34,904 | €24,633 | -€10,271 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €98,939 | €59,589 | -€39,350 | -39.8% |
| Income taxes | 67/77 | €27,020 | €14,933 | -€12,087 | -44.7% |
| Profit (loss) for the period | 9904 | €71,919 | €44,656 | -€27,263 | -37.9% |
| Profit (loss) for the period to be appropriated | 9905 | €71,919 | €44,656 | -€27,263 | -37.9% |
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 10 October 2026 via checked.be.