THE NEW VISION: 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.
THE NEW VISION
Largest movements
- Tangible fixed assets +€85,431
up €85,431 (+38.5%), from €222,054 to €307,485
of which Furniture and vehicles: +€94,767
- Other debts +€40,924
up €40,924 (+125%), from €32,716 to €73,639
- Debts after one year +€28,464
up €28,464 (+34.6%), from €82,348 to €110,812
of which Financial debts: +€28,464
- Current portion of long-term debt +€13,060
up €13,060 (+49.3%), from €26,476 to €39,536
- Profit (loss) carried forward -€6,270
down €6,270 (-7.4%), from -€84,566 to -€90,836
- Gross operating margin +€12,648
up €12,648 (+1,049%), from €1,206 to €13,854
- Taxes -€3,100
down €3,100 (-92.7%), from €3,342 to €242
- Other operating charges -€1,179
down €1,179 (-36.8%), from €3,202 to €2,023
- Financial charges -€1,166
down €1,166 (-42.7%), from €2,730 to €1,564
of which Non-recurring financial charges: -€997
- Depreciation -€939
down €939 (-5.4%), from €17,233 to €16,294
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 | €265,937 | €345,984 | +€80,048 | +30.1% |
| Fixed assets | 21/28 | €224,548 | €307,735 | +€83,187 | +37.0% |
| Intangible fixed assets | 21 | €2,244 | - | -€2,244 | |
| Tangible fixed assets | 22/27 | €222,054 | €307,485 | +€85,431 | +38.5% |
| Land and buildings | 22 | €220,019 | €209,628 | -€10,391 | -4.7% |
| Plant, machinery and equipment | 23 | €556 | €1,611 | +€1,055 | +190% |
| Furniture and vehicles | 24 | €1,479 | €96,246 | +€94,767 | +6,409% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €41,389 | €38,249 | -€3,140 | -7.6% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Other amounts receivable | 291 | €30,000 | €30,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €735 | €735 | = | 0.0% |
| Stocks | 30/36 | €735 | €735 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,154 | - | -€1,154 | |
| Trade receivables | 40 | €178 | - | -€178 | |
| Other amounts receivable | 41 | €976 | - | -€976 | |
| Cash at bank and in hand | 54/58 | €9,147 | €7,514 | -€1,633 | -17.9% |
| Deferred charges and accrued income | 490/1 | €353 | - | -€353 | |
| Total equity and liabilities | 10/49 | €265,937 | €345,984 | +€80,048 | +30.1% |
| Equity | 10/15 | €118,524 | €112,254 | -€6,270 | -5.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €196,890 | €196,890 | = | 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% |
| Tax-exempt reserves | 132 | €15,194 | €15,194 | = | 0.0% |
| Distributable reserves | 133 | €179,836 | €179,836 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,566 | -€90,836 | -€6,270 | -7.4% |
| Amounts payable | 17/49 | €147,413 | €233,730 | +€86,317 | +58.6% |
| Amounts payable after more than one year | 17 | €82,348 | €110,812 | +€28,464 | +34.6% |
| Financial debts | 170/4 | €79,148 | €107,612 | +€28,464 | +36.0% |
| Other amounts payable | 178/9 | €3,200 | €3,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €64,686 | €120,082 | +€55,396 | +85.6% |
| Current portion of amounts payable after more than one year | 42 | €26,476 | €39,536 | +€13,060 | +49.3% |
| Trade debts | 44 | €5,277 | €5,295 | +€18 | +0.3% |
| Suppliers | 440/4 | €5,277 | €5,295 | +€18 | +0.3% |
| Taxes, remuneration and social security | 45 | €217 | €1,612 | +€1,395 | +641% |
| Taxes | 450/3 | €217 | €1,612 | +€1,395 | +641% |
| Other amounts payable | 47/48 | €32,716 | €73,639 | +€40,924 | +125% |
| Accrued charges and deferred income | 492/3 | €379 | €2,836 | +€2,457 | +649% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,233 | €16,294 | -€939 | -5.4% |
| Other operating charges | 640/8 | €3,202 | €2,023 | -€1,179 | -36.8% |
| Gross operating margin | 9900 | €1,206 | €13,854 | +€12,648 | +1,049% |
| Operating profit (loss) | 9901 | -€19,229 | -€4,464 | +€14,765 | +76.8% |
| Financial charges | 65/66B | €2,730 | €1,564 | -€1,166 | -42.7% |
| Recurring financial charges | 65 | €1,715 | €1,546 | -€169 | -9.8% |
| Non-recurring financial charges | 66B | €1,015 | €17 | -€997 | -98.3% |
| Profit (loss) for the period before taxes | 9903 | -€21,959 | -€6,027 | +€15,931 | +72.6% |
| Income taxes | 67/77 | €3,342 | €242 | -€3,100 | -92.7% |
| Profit (loss) for the period | 9904 | -€25,301 | -€6,270 | +€19,031 | +75.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,301 | -€6,270 | +€19,031 | +75.2% |
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 29 October 2026 via checked.be.