The Table: 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 Table
Largest movements
- Tangible fixed assets -€47,762
down €47,762 (-8.8%), from €543,143 to €495,381
of which Land and buildings: -€24,784
- Cash -€21,232
down €21,232 (-47.9%), from €44,366 to €23,134
mainly Net result for the year (-€33,678) and Other debts (-€25,753)
- Stocks and contracts +€6,971
up €6,971 (+29.6%), from €23,578 to €30,549
- Profit (loss) carried forward -€33,678
down €33,678 (-102%), from -€33,105 to -€66,783
- Other debts -€25,753
down €25,753 (-8.8%), from €294,002 to €268,248
- Debts after one year -€25,462
down €25,462 (-9.4%), from €270,043 to €244,581
- Trade debts +€14,474
up €14,474 (+150%), from €9,650 to €24,124
- Tax, wage and social debts +€11,332
up €11,332 (+104%), from €10,885 to €22,217
of which Remuneration and social security: +€6,086
- Gross operating margin +€46,183
up €46,183 (+75.9%), from €60,808 to €106,990
- Staff costs +€29,376
up €29,376 (+80.7%), from €36,406 to €65,781
- Depreciation +€12,542
up €12,542 (+28.7%), from €43,678 to €56,220
- Financial charges +€3,912
up €3,912 (+32.4%), from €12,059 to €15,971
- Other operating charges +€1,076
up €1,076 (+71.3%), from €1,509 to €2,585
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 | €612,398 | €554,072 | -€58,326 | -9.5% |
| Fixed assets | 21/28 | €543,609 | €495,381 | -€48,229 | -8.9% |
| Intangible fixed assets | 21 | €467 | €0 | -€467 | -100% |
| Tangible fixed assets | 22/27 | €543,143 | €495,381 | -€47,762 | -8.8% |
| Land and buildings | 22 | €486,758 | €461,974 | -€24,784 | -5.1% |
| Plant, machinery and equipment | 23 | €47,523 | €28,270 | -€19,253 | -40.5% |
| Furniture and vehicles | 24 | €8,861 | €5,137 | -€3,724 | -42.0% |
| Current assets | 29/58 | €68,789 | €58,692 | -€10,097 | -14.7% |
| Stocks and contracts in progress | 3 | €23,578 | €30,549 | +€6,971 | +29.6% |
| Stocks | 30/36 | €23,578 | €30,549 | +€6,971 | +29.6% |
| Amounts receivable within one year | 40/41 | €846 | €1,423 | +€577 | +68.2% |
| Trade receivables | 40 | €846 | €1,423 | +€577 | +68.2% |
| Cash at bank and in hand | 54/58 | €44,366 | €23,134 | -€21,232 | -47.9% |
| Deferred charges and accrued income | 490/1 | - | €3,586 | +€3,586 | |
| Total equity and liabilities | 10/49 | €612,398 | €554,072 | -€58,326 | -9.5% |
| Equity | 10/15 | €3,118 | -€30,560 | -€33,678 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,622 | €17,622 | = | 0.0% |
| Distributable reserves | 133 | €17,622 | €17,622 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,105 | -€66,783 | -€33,678 | -102% |
| Amounts payable | 17/49 | €609,281 | €584,633 | -€24,648 | -4.0% |
| Amounts payable after more than one year | 17 | €270,043 | €244,581 | -€25,462 | -9.4% |
| Financial debts | 170/4 | €270,043 | €244,581 | -€25,462 | -9.4% |
| Amounts payable within one year | 42/48 | €339,237 | €340,051 | +€814 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €24,700 | €25,462 | +€762 | +3.1% |
| Trade debts | 44 | €9,650 | €24,124 | +€14,474 | +150% |
| Suppliers | 440/4 | €9,650 | €24,124 | +€14,474 | +150% |
| Taxes, remuneration and social security | 45 | €10,885 | €22,217 | +€11,332 | +104% |
| Taxes | 450/3 | €1,711 | €6,957 | +€5,245 | +306% |
| Remuneration and social security | 454/9 | €9,174 | €15,260 | +€6,086 | +66.3% |
| Other amounts payable | 47/48 | €294,002 | €268,248 | -€25,753 | -8.8% |
| Remuneration, social security and pensions | 62 | €36,406 | €65,781 | +€29,376 | +80.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,678 | €56,220 | +€12,542 | +28.7% |
| Other operating charges | 640/8 | €1,509 | €2,585 | +€1,076 | +71.3% |
| Gross operating margin | 9900 | €60,808 | €106,990 | +€46,183 | +75.9% |
| Operating profit (loss) | 9901 | -€20,785 | -€17,597 | +€3,188 | +15.3% |
| Financial income | 75/76B | €64 | €192 | +€128 | +199% |
| Recurring financial income | 75 | €64 | €192 | +€128 | +199% |
| Financial charges | 65/66B | €12,059 | €15,971 | +€3,912 | +32.4% |
| Recurring financial charges | 65 | €12,059 | €15,971 | +€3,912 | +32.4% |
| Profit (loss) for the period before taxes | 9903 | -€32,780 | -€33,376 | -€596 | -1.8% |
| Income taxes | 67/77 | €325 | €302 | -€23 | -7.1% |
| Profit (loss) for the period | 9904 | -€33,105 | -€33,678 | -€573 | -1.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€33,105 | -€33,678 | -€573 | -1.7% |
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 14 October 2026 via checked.be.