Subland: 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.
Subland
Largest movements
- Receivables within one year +€4.0m
up €4.0m (+653.5%), from €610,464 to €4.6m
of which Other amounts receivable: +€3.8m
- Stocks and contracts -€528,208
down €528,208 (-29.4%), from €1.8m to €1.3m
- Other debts +€3.0m
up €3.0m (+6820.9%), from €43,775 to €3.0m
- Short-term financial debts +€618,336
up €618,336 (+30.9%), from €2.0m to €2.6m
of which Credit institutions: +€425,525
- Debts after one year -€189,450
no longer reported in 2025 (was €189,450)
- Gross operating margin +€96,930
up €96,930 (+58.8%), from €164,903 to €261,833
- Financial income +€55,527
up €55,527 (+2699.4%), from €2,057 to €57,584
- Taxes +€51,831
new in 2025: €51,831
- Financial charges -€38,946
down €38,946 (-24.5%), from €158,806 to €119,860
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 | €2,916,203 | €6,370,860 | +€3.5m | +118.5% |
| Current assets | 29/58 | €2,916,203 | €6,370,860 | +€3.5m | +118.5% |
| Stocks and contracts in progress | 3 | €1,798,452 | €1,270,245 | -€528,208 | -29.4% |
| Stocks | 30/36 | €1,798,452 | €1,270,245 | -€528,208 | -29.4% |
| Amounts receivable within one year | 40/41 | €610,464 | €4,599,694 | +€4.0m | +653.5% |
| Trade receivables | 40 | €161,263 | €353,899 | +€192,636 | +119.5% |
| Other amounts receivable | 41 | €449,201 | €4,245,795 | +€3.8m | +845.2% |
| Cash at bank and in hand | 54/58 | €505,230 | €441,925 | -€63,305 | -12.5% |
| Deferred charges and accrued income | 490/1 | €2,057 | €58,996 | +€56,939 | +2768.1% |
| Total equity and liabilities | 10/49 | €2,916,203 | €6,370,860 | +€3.5m | +118.5% |
| Equity | 10/15 | €500,000 | €500,000 | = | 0.0% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €2,416,203 | €5,870,860 | +€3.5m | +143.0% |
| Amounts payable after more than one year | 17 | €189,450 | - | -€189,450 | |
| Other amounts payable | 178/9 | €189,450 | - | -€189,450 | |
| Amounts payable within one year | 42/48 | €2,059,873 | €5,686,540 | +€3.6m | +176.1% |
| Financial debts | 43 | €2,001,897 | €2,620,233 | +€618,336 | +30.9% |
| Credit institutions | 430/8 | €2,001,879 | €2,427,404 | +€425,525 | +21.3% |
| Other loans | 439 | €18 | €192,829 | +€192,811 | +1054186.9% |
| Trade debts | 44 | €14,200 | €9,834 | -€4,366 | -30.7% |
| Suppliers | 440/4 | €14,200 | €9,834 | -€4,366 | -30.7% |
| Taxes, remuneration and social security | 45 | - | €26,831 | +€26,831 | |
| Taxes | 450/3 | - | €26,831 | +€26,831 | |
| Other amounts payable | 47/48 | €43,775 | €3,029,642 | +€3.0m | +6820.9% |
| Accrued charges and deferred income | 492/3 | €166,880 | €184,320 | +€17,439 | +10.5% |
| Other operating charges | 640/8 | €2,575 | €1,125 | -€1,449 | -56.3% |
| Gross operating margin | 9900 | €164,903 | €261,833 | +€96,930 | +58.8% |
| Operating profit (loss) | 9901 | €162,328 | €260,708 | +€98,380 | +60.6% |
| Financial income | 75/76B | €2,057 | €57,584 | +€55,527 | +2699.4% |
| Recurring financial income | 75 | €2,057 | €57,584 | +€55,527 | +2699.4% |
| Financial charges | 65/66B | €158,806 | €119,860 | -€38,946 | -24.5% |
| Recurring financial charges | 65 | €158,806 | €119,860 | -€38,946 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | €5,579 | €198,431 | +€192,852 | +3456.7% |
| Income taxes | 67/77 | - | €51,831 | +€51,831 | |
| Profit (loss) for the period | 9904 | €5,579 | €146,600 | +€141,021 | +2527.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,579 | €146,600 | +€141,021 | +2527.7% |
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 9 October 2026 via checked.be.