the workhouse: 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 workhouse
Largest movements
- Tangible fixed assets -€13,645
down €13,645 (-31.6%), from €43,164 to €29,518
of which Furniture and vehicles: -€12,275
- Receivables within one year +€10,355
up €10,355 (+94.8%), from €10,925 to €21,280
of which Trade receivables: +€6,987
- Deferred charges and accrued income +€2,822
new in 2025: €2,822
- Reserves -€4,625
down €4,625 (-7.6%), from €61,048 to €56,423
- Trade debts +€2,848
up €2,848 (+291.9%), from €976 to €3,824
- Other debts +€2,014
up €2,014 (+2.6%), from €76,853 to €78,867
- Gross operating margin -€11,305
down €11,305 (-43.0%), from €26,267 to €14,962
- Taxes -€1,760
down €1,760 (-93.0%), from €1,892 to €132
- Other operating charges +€633
up €633 (+452.5%), from €140 to €773
- Depreciation +€521
up €521 (+4.0%), from €13,125 to €13,645
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 | €162,127 | €163,127 | +€1,000 | +0.6% |
| Fixed assets | 21/28 | €43,164 | €29,518 | -€13,645 | -31.6% |
| Tangible fixed assets | 22/27 | €43,164 | €29,518 | -€13,645 | -31.6% |
| Plant, machinery and equipment | 23 | €2,609 | €1,238 | -€1,371 | -52.5% |
| Furniture and vehicles | 24 | €40,555 | €28,280 | -€12,275 | -30.3% |
| Current assets | 29/58 | €118,963 | €133,608 | +€14,645 | +12.3% |
| Amounts receivable within one year | 40/41 | €10,925 | €21,280 | +€10,355 | +94.8% |
| Trade receivables | 40 | €7,832 | €14,819 | +€6,987 | +89.2% |
| Other amounts receivable | 41 | €3,093 | €6,461 | +€3,368 | +108.9% |
| Cash at bank and in hand | 54/58 | €108,038 | €109,506 | +€1,468 | +1.4% |
| Deferred charges and accrued income | 490/1 | - | €2,822 | +€2,822 | |
| Total equity and liabilities | 10/49 | €162,127 | €163,127 | +€1,000 | +0.6% |
| Equity | 10/15 | €79,648 | €75,023 | -€4,625 | -5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €61,048 | €56,423 | -€4,625 | -7.6% |
| Distributable reserves | 133 | €61,048 | €56,423 | -€4,625 | -7.6% |
| Amounts payable | 17/49 | €82,479 | €88,103 | +€5,625 | +6.8% |
| Amounts payable within one year | 42/48 | €82,479 | €88,103 | +€5,625 | +6.8% |
| Trade debts | 44 | €976 | €3,824 | +€2,848 | +291.9% |
| Suppliers | 440/4 | €976 | €3,824 | +€2,848 | +291.9% |
| Taxes, remuneration and social security | 45 | €4,650 | €5,413 | +€763 | +16.4% |
| Taxes | 450/3 | €4,650 | €5,413 | +€763 | +16.4% |
| Other amounts payable | 47/48 | €76,853 | €78,867 | +€2,014 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,125 | €13,645 | +€521 | +4.0% |
| Other operating charges | 640/8 | €140 | €773 | +€633 | +452.5% |
| Gross operating margin | 9900 | €26,267 | €14,962 | -€11,305 | -43.0% |
| Operating profit (loss) | 9901 | €13,003 | €544 | -€12,458 | -95.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +200.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200.0% |
| Non-recurring financial income | 76B | €0 | €0 | +€0 | +200.0% |
| Financial charges | 65/66B | €4,839 | €5,037 | +€198 | +4.1% |
| Recurring financial charges | 65 | €4,839 | €5,037 | +€198 | +4.1% |
| Non-recurring financial charges | 66B | - | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | €8,163 | -€4,493 | -€12,656 | |
| Income taxes | 67/77 | €1,892 | €132 | -€1,760 | -93.0% |
| Profit (loss) for the period | 9904 | €6,271 | -€4,625 | -€10,896 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,271 | -€4,625 | -€10,896 |
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 12 October 2026 via checked.be.