SYLVAIN CAILLEAU: 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.
SYLVAIN CAILLEAU
Largest movements
- Tangible fixed assets -€22,419
down €22,419 (-24.2%), from €92,547 to €70,128
- Cash +€2,459
up €2,459 (+126%), from €1,945 to €4,405
mainly Other debts (+€30,050) and Depreciation (+€22,419)
- Other debts +€30,050
up €30,050 (+538%), from €5,590 to €35,640
- Debts after one year -€26,781
down €26,781 (-74.3%), from €36,023 to €9,242
- Profit (loss) carried forward -€25,293
down €25,293 (-14.4%), from -€175,471 to -€200,764
- Current portion of long-term debt +€1,365
up €1,365 (+5.4%), from €25,416 to €26,781
- Depreciation -€6,265
down €6,265 (-21.8%), from €28,684 to €22,419
- Financial charges -€1,295
down €1,295 (-29.7%), from €4,363 to €3,069
- Other operating charges +€789
up €789 (+47.5%), from €1,661 to €2,450
- Financial income -€441
no longer reported in 2025 (was €441)
- Gross operating margin +€162
up €162 (+6.5%), from €2,483 to €2,645
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 | €95,436 | €75,337 | -€20,099 | -21.1% |
| Fixed assets | 21/28 | €92,547 | €70,128 | -€22,419 | -24.2% |
| Tangible fixed assets | 22/27 | €92,547 | €70,128 | -€22,419 | -24.2% |
| Land and buildings | 22 | €92,547 | €70,128 | -€22,419 | -24.2% |
| Current assets | 29/58 | €2,890 | €5,210 | +€2,320 | +80.3% |
| Amounts receivable within one year | 40/41 | €207 | - | -€207 | |
| Trade receivables | 40 | €207 | - | -€207 | |
| Cash at bank and in hand | 54/58 | €1,945 | €4,405 | +€2,459 | +126% |
| Deferred charges and accrued income | 490/1 | €738 | €805 | +€67 | +9.1% |
| Total equity and liabilities | 10/49 | €95,436 | €75,337 | -€20,099 | -21.1% |
| Equity | 10/15 | €27,517 | €2,225 | -€25,293 | -91.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €190,589 | €190,589 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €187,589 | €187,589 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€175,471 | -€200,764 | -€25,293 | -14.4% |
| Amounts payable | 17/49 | €67,919 | €73,113 | +€5,194 | +7.6% |
| Amounts payable after more than one year | 17 | €36,023 | €9,242 | -€26,781 | -74.3% |
| Financial debts | 170/4 | €36,023 | €9,242 | -€26,781 | -74.3% |
| Amounts payable within one year | 42/48 | €31,896 | €63,871 | +€31,975 | +100% |
| Current portion of amounts payable after more than one year | 42 | €25,416 | €26,781 | +€1,365 | +5.4% |
| Trade debts | 44 | €890 | €1,450 | +€560 | +62.9% |
| Suppliers | 440/4 | €890 | €1,450 | +€560 | +62.9% |
| Other amounts payable | 47/48 | €5,590 | €35,640 | +€30,050 | +538% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,684 | €22,419 | -€6,265 | -21.8% |
| Other operating charges | 640/8 | €1,661 | €2,450 | +€789 | +47.5% |
| Gross operating margin | 9900 | €2,483 | €2,645 | +€162 | +6.5% |
| Operating profit (loss) | 9901 | -€27,862 | -€22,224 | +€5,638 | +20.2% |
| Financial income | 75/76B | €441 | - | -€441 | |
| Recurring financial income | 75 | €441 | - | -€441 | |
| Financial charges | 65/66B | €4,363 | €3,069 | -€1,295 | -29.7% |
| Recurring financial charges | 65 | €4,363 | €3,069 | -€1,295 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | -€31,785 | -€25,293 | +€6,492 | +20.4% |
| Profit (loss) for the period | 9904 | -€31,785 | -€25,293 | +€6,492 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,785 | -€25,293 | +€6,492 | +20.4% |
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.