THE FARM 1: 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.
THE FARM 1
Largest movements
- Receivables within one year +€17,054
up €17,054 (+87.9%), from €19,406 to €36,460
of which Trade receivables: +€13,970
- Cash -€1,730
down €1,730 (-70.9%), from €2,439 to €709
mainly Other debts (-€107,955) and Receivables within one year (-€17,054)
- Profit (loss) carried forward +€111,613
up €111,613 (+70.7%), from -€157,895 to -€46,282
- Other debts -€107,955
down €107,955 (-46.6%), from €231,741 to €123,786
- Trade debts +€18,058
up €18,058 (+533.9%), from €3,382 to €21,441
- Debts after one year -€6,584
down €6,584 (-45.8%), from €14,374 to €7,791
- Gross operating margin +€60,419
up €60,419 (+90.9%), from €66,485 to €126,903
- Other operating charges -€3,396
down €3,396 (-64.9%), from €5,235 to €1,840
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 | €103,218 | €118,541 | +€15,323 | +14.8% |
| Formation expenses | 20 | €337 | - | -€337 | |
| Fixed assets | 21/28 | €80,892 | €81,351 | +€460 | +0.6% |
| Intangible fixed assets | 21 | - | €37 | +€37 | |
| Tangible fixed assets | 22/27 | €66,292 | €66,714 | +€423 | +0.6% |
| Plant, machinery and equipment | 23 | - | €6,452 | +€6,452 | |
| Furniture and vehicles | 24 | €11,109 | €7,200 | -€3,909 | -35.2% |
| Leasing and similar rights | 25 | €41,479 | €41,479 | = | 0.0% |
| Other tangible fixed assets | 26 | €13,704 | €11,584 | -€2,120 | -15.5% |
| Financial fixed assets | 28 | €14,600 | €14,600 | = | 0.0% |
| Current assets | 29/58 | €21,989 | €37,189 | +€15,200 | +69.1% |
| Amounts receivable within one year | 40/41 | €19,406 | €36,460 | +€17,054 | +87.9% |
| Trade receivables | 40 | €15,870 | €29,840 | +€13,970 | +88.0% |
| Other amounts receivable | 41 | €3,536 | €6,619 | +€3,084 | +87.2% |
| Cash at bank and in hand | 54/58 | €2,439 | €709 | -€1,730 | -70.9% |
| Deferred charges and accrued income | 490/1 | €144 | €21 | -€124 | -85.6% |
| Total equity and liabilities | 10/49 | €103,218 | €118,541 | +€15,323 | +14.8% |
| Equity | 10/15 | -€152,895 | -€41,282 | +€111,613 | +73.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€157,895 | -€46,282 | +€111,613 | +70.7% |
| Amounts payable | 17/49 | €256,113 | €159,822 | -€96,291 | -37.6% |
| Amounts payable after more than one year | 17 | €14,374 | €7,791 | -€6,584 | -45.8% |
| Financial debts | 170/4 | €14,374 | €7,791 | -€6,584 | -45.8% |
| Amounts payable within one year | 42/48 | €241,739 | €152,032 | -€89,707 | -37.1% |
| Current portion of amounts payable after more than one year | 42 | €6,616 | €6,584 | -€32 | -0.5% |
| Trade debts | 44 | €3,382 | €21,441 | +€18,058 | +533.9% |
| Suppliers | 440/4 | €3,382 | €21,441 | +€18,058 | +533.9% |
| Taxes, remuneration and social security | 45 | - | €222 | +€222 | |
| Taxes | 450/3 | - | €222 | +€222 | |
| Other amounts payable | 47/48 | €231,741 | €123,786 | -€107,955 | -46.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,998 | €7,912 | +€914 | +13.1% |
| Other operating charges | 640/8 | €5,235 | €1,840 | -€3,396 | -64.9% |
| Non-recurring operating charges | 66A | - | €4,832 | +€4,832 | |
| Gross operating margin | 9900 | €66,485 | €126,903 | +€60,419 | +90.9% |
| Operating profit (loss) | 9901 | €54,251 | €112,319 | +€58,068 | +107.0% |
| Financial income | 75/76B | - | €256 | +€256 | |
| Recurring financial income | 75 | - | €256 | +€256 | |
| Financial charges | 65/66B | €544 | €962 | +€417 | +76.6% |
| Recurring financial charges | 65 | €544 | €962 | +€417 | +76.6% |
| Profit (loss) for the period before taxes | 9903 | €53,707 | €111,613 | +€57,907 | +107.8% |
| Profit (loss) for the period | 9904 | €53,707 | €111,613 | +€57,907 | +107.8% |
| Profit (loss) for the period to be appropriated | 9905 | €53,707 | €111,613 | +€57,907 | +107.8% |
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 7 October 2026 via checked.be.