TABULA RASA: what changed
Two fiscal 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.
TABULA RASA
Largest movements
- Tangible fixed assets +€323,391
up €323,391 (+1082.8%), from €29,866 to €353,257
of which Land and buildings: +€313,697
- Cash +€15,496
up €15,496 (+27.3%), from €56,686 to €72,182
mainly Debts after one year (+€209,185) and Other debts (+€75,004)
- Debts after one year +€209,185
up €209,185 (+2672.6%), from €7,827 to €217,012
- Other debts +€75,004
new in 2025: €75,004
- Current portion of long-term debt +€21,861
up €21,861 (+361.8%), from €6,042 to €27,903
- Investment grants +€20,727
new in 2025: €20,727
- Reserves -€8,400
down €8,400 (-38.2%), from €22,000 to €13,600
- Staff costs +€20,999
up €20,999 (+19.2%), from €109,433 to €130,431
- Gross operating margin +€13,558
up €13,558 (+9.5%), from €143,367 to €156,926
- Depreciation +€13,191
up €13,191 (+149.7%), from €8,812 to €22,003
- Financial charges +€9,171
up €9,171 (+525.3%), from €1,746 to €10,917
- Other operating charges +€2,737
new in 2025: €2,737
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 | €115,168 | €452,665 | +€337,497 | +293.0% |
| Fixed assets | 21/28 | €34,366 | €357,757 | +€323,391 | +941.0% |
| Tangible fixed assets | 22/27 | €29,866 | €353,257 | +€323,391 | +1082.8% |
| Land and buildings | 22 | - | €313,697 | +€313,697 | |
| Plant, machinery and equipment | 23 | €669 | €3,992 | +€3,323 | +496.6% |
| Furniture and vehicles | 24 | €28,290 | €27,464 | -€826 | -2.9% |
| Other tangible fixed assets | 26 | €907 | €8,104 | +€7,197 | +793.5% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €80,802 | €94,907 | +€14,106 | +17.5% |
| Stocks and contracts in progress | 3 | €14,010 | €12,190 | -€1,820 | -13.0% |
| Stocks | 30/36 | €14,010 | €12,190 | -€1,820 | -13.0% |
| Amounts receivable within one year | 40/41 | €9,788 | €9,889 | +€101 | +1.0% |
| Trade receivables | 40 | €1,011 | €9,889 | +€8,878 | +878.4% |
| Other amounts receivable | 41 | €8,777 | - | -€8,777 | |
| Cash at bank and in hand | 54/58 | €56,686 | €72,182 | +€15,496 | +27.3% |
| Deferred charges and accrued income | 490/1 | €317 | €646 | +€329 | +103.9% |
| Total equity and liabilities | 10/49 | €115,168 | €452,665 | +€337,497 | +293.0% |
| Equity | 10/15 | €72,723 | €84,327 | +€11,604 | +16.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €22,000 | €13,600 | -€8,400 | -38.2% |
| Distributable reserves | 133 | €22,000 | €13,600 | -€8,400 | -38.2% |
| Profit (loss) carried forward | 14 | €723 | - | -€723 | |
| Investment grants | 15 | - | €20,727 | +€20,727 | |
| Provisions and deferred taxes | 16 | - | €6,909 | +€6,909 | |
| Deferred taxes | 168 | - | €6,909 | +€6,909 | |
| Amounts payable | 17/49 | €42,445 | €361,429 | +€318,983 | +751.5% |
| Amounts payable after more than one year | 17 | €7,827 | €217,012 | +€209,185 | +2672.6% |
| Financial debts | 170/4 | €7,827 | €217,012 | +€209,185 | +2672.6% |
| Amounts payable within one year | 42/48 | €34,618 | €141,109 | +€106,490 | +307.6% |
| Current portion of amounts payable after more than one year | 42 | €6,042 | €27,903 | +€21,861 | +361.8% |
| Trade debts | 44 | €4,037 | €8,044 | +€4,007 | +99.3% |
| Suppliers | 440/4 | €4,037 | €8,044 | +€4,007 | +99.3% |
| Taxes, remuneration and social security | 45 | €24,540 | €30,158 | +€5,618 | +22.9% |
| Taxes | 450/3 | €5,495 | €8,646 | +€3,151 | +57.4% |
| Remuneration and social security | 454/9 | €19,045 | €21,512 | +€2,467 | +13.0% |
| Other amounts payable | 47/48 | - | €75,004 | +€75,004 | |
| Accrued charges and deferred income | 492/3 | - | €3,308 | +€3,308 | |
| Remuneration, social security and pensions | 62 | €109,433 | €130,431 | +€20,999 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,812 | €22,003 | +€13,191 | +149.7% |
| Other operating charges | 640/8 | - | €2,737 | +€2,737 | |
| Non-recurring operating charges | 66A | €153 | - | -€153 | |
| Gross operating margin | 9900 | €143,367 | €156,926 | +€13,558 | +9.5% |
| Operating profit (loss) | 9901 | €24,970 | €1,754 | -€23,216 | -93.0% |
| Financial income | 75/76B | €564 | €40 | -€524 | -93.0% |
| Recurring financial income | 75 | €564 | €40 | -€524 | -93.0% |
| Financial charges | 65/66B | €1,746 | €10,917 | +€9,171 | +525.3% |
| Recurring financial charges | 65 | €1,746 | €10,917 | +€9,171 | +525.3% |
| Profit (loss) for the period before taxes | 9903 | €23,788 | -€9,123 | -€32,911 | |
| Income taxes | 67/77 | €1,257 | - | -€1,257 | |
| Profit (loss) for the period | 9904 | €22,530 | -€9,123 | -€31,653 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,530 | -€9,123 | -€31,653 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.