STRUCTURE DATA & MANAGEMENT CAPITAL: 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.
STRUCTURE DATA & MANAGEMENT CAPITAL
Largest movements
- Cash -€6.3m
down €6.3m (-96.3%), from €6.5m to €238,334
mainly Contributions, distributions and other (-€6.0m) and Current investments (-€414,098)
- Current investments +€414,098
up €414,098 (+97.4%), from €425,000 to €839,098
- Tangible fixed assets -€89,704
down €89,704 (-17.7%), from €507,362 to €417,658
of which Land and buildings: -€71,518
- Contributions -€6.0m
down €6.0m (-76.8%), from €7.8m to €1.8m
- Profit (loss) carried forward +€437,707
up €437,707 (+16.2%), from -€2.7m to -€2.3m
- Debts after one year -€317,743
down €317,743 (-32.7%), from €970,757 to €653,014
- Other debts -€133,251
down €133,251 (-68.6%), from €194,243 to €60,992
- Tax, wage and social debts +€93,846
up €93,846 (+978%), from €9,597 to €103,443
- Financial charges -€5.5m
down €5.5m (-97.3%), from €5.7m to €155,406
of which Non-recurring financial charges: -€5.6m
- Financial income -€2.2m
down €2.2m (-82.0%), from €2.7m to €487,094
of which Non-recurring financial income: -€1.8m
- Gross operating margin +€288,225
up €288,225 (+1,405%), from €20,507 to €308,732
- Taxes +€148,803
up €148,803 (+22,333%), from €666 to €149,469
- Other operating charges +€15,927
up €15,927 (+1,012%), from €1,574 to €17,501
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 | €8,400,032 | €2,420,805 | -€6.0m | -71.2% |
| Fixed assets | 21/28 | €1,391,662 | €1,301,958 | -€89,704 | -6.4% |
| Tangible fixed assets | 22/27 | €507,362 | €417,658 | -€89,704 | -17.7% |
| Land and buildings | 22 | €470,559 | €399,041 | -€71,518 | -15.2% |
| Plant, machinery and equipment | 23 | - | €3,008 | +€3,008 | |
| Furniture and vehicles | 24 | €36,803 | €15,609 | -€21,194 | -57.6% |
| Financial fixed assets | 28 | €884,300 | €884,300 | = | 0.0% |
| Current assets | 29/58 | €7,008,370 | €1,118,847 | -€5.9m | -84.0% |
| Amounts receivable within one year | 40/41 | €45,565 | €32,145 | -€13,419 | -29.5% |
| Trade receivables | 40 | €20,167 | €20,167 | = | 0.0% |
| Other amounts receivable | 41 | €25,398 | €11,979 | -€13,419 | -52.8% |
| Current investments | 50/53 | €425,000 | €839,098 | +€414,098 | +97.4% |
| Cash at bank and in hand | 54/58 | €6,520,937 | €238,334 | -€6.3m | -96.3% |
| Deferred charges and accrued income | 490/1 | €16,868 | €9,269 | -€7,599 | -45.1% |
| Total equity and liabilities | 10/49 | €8,400,032 | €2,420,805 | -€6.0m | -71.2% |
| Equity | 10/15 | €6,799,468 | €1,235,254 | -€5.6m | -81.8% |
| Contributions | 10/11 | €7,811,921 | €1,810,000 | -€6.0m | -76.8% |
| Reserves | 13 | €1,689,899 | €1,689,899 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,873 | €1,873 | = | 0.0% |
| Distributable reserves | 133 | €1,688,026 | €1,688,026 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,702,353 | -€2,264,646 | +€437,707 | +16.2% |
| Provisions and deferred taxes | 16 | €308,809 | €241,172 | -€67,636 | -21.9% |
| Provisions for liabilities and charges | 160/5 | €308,809 | €241,172 | -€67,636 | -21.9% |
| Other liabilities and charges | 164/5 | €308,809 | €241,172 | -€67,636 | -21.9% |
| Amounts payable | 17/49 | €1,291,756 | €944,379 | -€347,377 | -26.9% |
| Amounts payable after more than one year | 17 | €970,757 | €653,014 | -€317,743 | -32.7% |
| Financial debts | 170/4 | €970,757 | €653,014 | -€317,743 | -32.7% |
| Amounts payable within one year | 42/48 | €319,058 | €290,052 | -€29,006 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €113,072 | €117,093 | +€4,022 | +3.6% |
| Trade debts | 44 | €2,147 | €8,524 | +€6,377 | +297% |
| Suppliers | 440/4 | €2,147 | €8,524 | +€6,377 | +297% |
| Taxes, remuneration and social security | 45 | €9,597 | €103,443 | +€93,846 | +978% |
| Taxes | 450/3 | €9,597 | €103,443 | +€93,846 | +978% |
| Other amounts payable | 47/48 | €194,243 | €60,992 | -€133,251 | -68.6% |
| Accrued charges and deferred income | 492/3 | €1,940 | €1,313 | -€627 | -32.3% |
| Non-recurring operating income | 76A | - | €198,352 | +€198,352 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,569 | €35,742 | +€9,173 | +34.5% |
| Other operating charges | 640/8 | €1,574 | €17,501 | +€15,927 | +1,012% |
| Gross operating margin | 9900 | €20,507 | €308,732 | +€288,225 | +1,405% |
| Operating profit (loss) | 9901 | -€7,636 | €255,488 | +€263,125 | |
| Financial income | 75/76B | €2,708,652 | €487,094 | -€2.2m | -82.0% |
| Recurring financial income | 75 | €887,097 | €487,094 | -€400,003 | -45.1% |
| Non-recurring financial income | 76B | €1,821,555 | - | -€1.8m | |
| Financial charges | 65/66B | €5,703,248 | €155,406 | -€5.5m | -97.3% |
| Recurring financial charges | 65 | €57,120 | €155,406 | +€98,286 | +172% |
| Non-recurring financial charges | 66B | €5,646,128 | - | -€5.6m | |
| Profit (loss) for the period before taxes | 9903 | -€3,002,232 | €587,176 | +€3.6m | |
| Income taxes | 67/77 | €666 | €149,469 | +€148,803 | +22,333% |
| Profit (loss) for the period | 9904 | -€3,002,899 | €437,707 | +€3.4m | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,002,899 | €437,707 | +€3.4m |
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 25 October 2026 via checked.be.