T CONCEPT: 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.
T CONCEPT
Largest movements
- Tangible fixed assets -€26,222
down €26,222 (-6.4%), from €409,288 to €383,066
of which Land and buildings: -€18,906
- Trade debts +€51,586
up €51,586 (+632%), from €8,164 to €59,750
- Debts after one year -€28,051
down €28,051 (-11.8%), from €238,069 to €210,018
- Profit (loss) carried forward -€26,145
down €26,145, from €13,670 to -€12,475
- Other debts -€15,155
down €15,155 (-47.2%), from €32,110 to €16,955
- Tax, wage and social debts -€6,278
down €6,278 (-24.2%), from €25,985 to €19,707
of which Taxes: -€5,068
- Gross operating margin -€69,432
down €69,432 (-84.1%), from €82,606 to €13,174
- Staff costs -€18,712
no longer reported in 2025 (was €18,712)
- Taxes -€4,663
down €4,663 (-92.8%), from €5,023 to €360
- Financial charges -€3,533
down €3,533 (-23.4%), from €15,083 to €11,550
- Other operating charges -€2,019
down €2,019 (-46.7%), from €4,328 to €2,309
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 | €434,379 | €403,862 | -€30,517 | -7.0% |
| Fixed assets | 21/28 | €409,928 | €383,706 | -€26,222 | -6.4% |
| Tangible fixed assets | 22/27 | €409,288 | €383,066 | -€26,222 | -6.4% |
| Land and buildings | 22 | €394,893 | €375,988 | -€18,906 | -4.8% |
| Plant, machinery and equipment | 23 | €2,781 | €70 | -€2,711 | -97.5% |
| Furniture and vehicles | 24 | €11,613 | €7,008 | -€4,605 | -39.7% |
| Financial fixed assets | 28 | €640 | €640 | = | 0.0% |
| Current assets | 29/58 | €24,452 | €20,156 | -€4,296 | -17.6% |
| Amounts receivable within one year | 40/41 | €16,111 | €13,919 | -€2,191 | -13.6% |
| Trade receivables | 40 | €14,829 | €1,576 | -€13,253 | -89.4% |
| Other amounts receivable | 41 | €1,282 | €12,344 | +€11,062 | +863% |
| Current investments | 50/53 | €207 | €207 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,939 | €1,204 | -€2,735 | -69.4% |
| Deferred charges and accrued income | 490/1 | €4,195 | €4,826 | +€631 | +15.0% |
| Total equity and liabilities | 10/49 | €434,379 | €403,862 | -€30,517 | -7.0% |
| Equity | 10/15 | €97,645 | €69,381 | -€28,264 | -28.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €29,360 | €29,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €27,500 | €27,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,670 | -€12,475 | -€26,145 | |
| Investment grants | 15 | €36,015 | €33,896 | -€2,119 | -5.9% |
| Amounts payable | 17/49 | €336,734 | €334,481 | -€2,254 | -0.7% |
| Amounts payable after more than one year | 17 | €238,069 | €210,018 | -€28,051 | -11.8% |
| Financial debts | 170/4 | €238,069 | €210,018 | -€28,051 | -11.8% |
| Amounts payable within one year | 42/48 | €97,724 | €124,463 | +€26,739 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | €31,465 | €28,051 | -€3,414 | -10.8% |
| Trade debts | 44 | €8,164 | €59,750 | +€51,586 | +632% |
| Suppliers | 440/4 | €8,164 | €59,750 | +€51,586 | +632% |
| Taxes, remuneration and social security | 45 | €25,985 | €19,707 | -€6,278 | -24.2% |
| Taxes | 450/3 | €10,123 | €5,055 | -€5,068 | -50.1% |
| Remuneration and social security | 454/9 | €15,862 | €14,652 | -€1,210 | -7.6% |
| Other amounts payable | 47/48 | €32,110 | €16,955 | -€15,155 | -47.2% |
| Accrued charges and deferred income | 492/3 | €942 | - | -€942 | |
| Remuneration, social security and pensions | 62 | €18,712 | - | -€18,712 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,595 | €27,237 | -€1,358 | -4.7% |
| Other operating charges | 640/8 | €4,328 | €2,309 | -€2,019 | -46.7% |
| Non-recurring operating charges | 66A | €3,681 | €429 | -€3,252 | -88.3% |
| Gross operating margin | 9900 | €82,606 | €13,174 | -€69,432 | -84.1% |
| Operating profit (loss) | 9901 | €27,291 | -€16,800 | -€44,091 | |
| Financial income | 75/76B | €2,119 | €2,565 | +€446 | +21.1% |
| Recurring financial income | 75 | €2,119 | €2,565 | +€446 | +21.1% |
| Financial charges | 65/66B | €15,083 | €11,550 | -€3,533 | -23.4% |
| Recurring financial charges | 65 | €15,083 | €11,550 | -€3,533 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €14,327 | -€25,785 | -€40,112 | |
| Income taxes | 67/77 | €5,023 | €360 | -€4,663 | -92.8% |
| Profit (loss) for the period | 9904 | €9,303 | -€26,145 | -€35,449 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,303 | -€26,145 | -€35,449 |
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 17 October 2026 via checked.be.