TAKE THE SHOT: 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.
TAKE THE SHOT
Largest movements
- Tangible fixed assets -€8,289
down €8,289 (-20.6%), from €40,174 to €31,884
of which Leasing and similar rights: -€6,937
- Receivables within one year +€5,557
up €5,557 (+26.1%), from €21,251 to €26,808
of which Trade receivables: +€3,600
- Intangible fixed assets -€2,000
down €2,000 (-38.7%), from €5,167 to €3,167
- Deferred charges and accrued income -€1,882
down €1,882 (-90.9%), from €2,070 to €188
- Cash -€1,691
down €1,691 (-1.7%), from €96,840 to €95,149
mainly Contributions, distributions and other (-€20,000) and Debts after one year (-€9,717)
- Debts after one year -€9,717
no longer reported in 2025 (was €9,717)
- Reserves +€7,004
up €7,004 (+8.0%), from €87,966 to €94,971
- Tax, wage and social debts -€3,917
down €3,917 (-32.5%), from €12,039 to €8,122
of which Taxes: -€6,352
- Other debts -€1,918
down €1,918 (-7.4%), from €25,969 to €24,051
- Gross operating margin -€11,415
down €11,415 (-17.0%), from €67,333 to €55,918
- Taxes -€1,180
down €1,180 (-8.6%), from €13,787 to €12,608
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 | €165,501 | €157,196 | -€8,305 | -5.0% |
| Fixed assets | 21/28 | €45,340 | €35,051 | -€10,289 | -22.7% |
| Intangible fixed assets | 21 | €5,167 | €3,167 | -€2,000 | -38.7% |
| Tangible fixed assets | 22/27 | €40,174 | €31,884 | -€8,289 | -20.6% |
| Plant, machinery and equipment | 23 | €2,489 | €2,010 | -€479 | -19.2% |
| Furniture and vehicles | 24 | €2,798 | €2,003 | -€796 | -28.4% |
| Leasing and similar rights | 25 | €34,686 | €27,749 | -€6,937 | -20.0% |
| Other tangible fixed assets | 26 | €200 | €123 | -€77 | -38.7% |
| Current assets | 29/58 | €120,161 | €122,145 | +€1,984 | +1.7% |
| Amounts receivable within one year | 40/41 | €21,251 | €26,808 | +€5,557 | +26.1% |
| Trade receivables | 40 | €21,159 | €24,759 | +€3,600 | +17.0% |
| Other amounts receivable | 41 | €93 | €2,050 | +€1,957 | +2,114% |
| Cash at bank and in hand | 54/58 | €96,840 | €95,149 | -€1,691 | -1.7% |
| Deferred charges and accrued income | 490/1 | €2,070 | €188 | -€1,882 | -90.9% |
| Total equity and liabilities | 10/49 | €165,501 | €157,196 | -€8,305 | -5.0% |
| Equity | 10/15 | €106,566 | €113,571 | +€7,004 | +6.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €87,966 | €94,971 | +€7,004 | +8.0% |
| Distributable reserves | 133 | €87,966 | €94,971 | +€7,004 | +8.0% |
| Amounts payable | 17/49 | €58,935 | €43,625 | -€15,310 | -26.0% |
| Amounts payable after more than one year | 17 | €9,717 | - | -€9,717 | |
| Financial debts | 170/4 | €9,717 | - | -€9,717 | |
| Amounts payable within one year | 42/48 | €49,218 | €43,625 | -€5,593 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €9,717 | €9,717 | -€0 | 0.0% |
| Trade debts | 44 | €1,492 | €1,735 | +€243 | +16.3% |
| Suppliers | 440/4 | €1,492 | €1,735 | +€243 | +16.3% |
| Taxes, remuneration and social security | 45 | €12,039 | €8,122 | -€3,917 | -32.5% |
| Taxes | 450/3 | €11,979 | €5,627 | -€6,352 | -53.0% |
| Remuneration and social security | 454/9 | €60 | €2,495 | +€2,435 | +4,058% |
| Other amounts payable | 47/48 | €25,969 | €24,051 | -€1,918 | -7.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | -€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,007 | €11,363 | -€644 | -5.4% |
| Other operating charges | 640/8 | €2,665 | €2,736 | +€71 | +2.7% |
| Gross operating margin | 9900 | €67,333 | €55,918 | -€11,415 | -17.0% |
| Operating profit (loss) | 9901 | €52,661 | €41,820 | -€10,841 | -20.6% |
| Financial charges | 65/66B | €2,100 | €2,208 | +€108 | +5.1% |
| Recurring financial charges | 65 | €2,100 | €2,208 | +€108 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €50,561 | €39,612 | -€10,949 | -21.7% |
| Income taxes | 67/77 | €13,787 | €12,608 | -€1,180 | -8.6% |
| Profit (loss) for the period | 9904 | €36,774 | €27,004 | -€9,770 | -26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,774 | €27,004 | -€9,770 | -26.6% |
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 26 October 2026 via checked.be.