TIME - OUT: 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.
TIME - OUT
Largest movements
- Tangible fixed assets -€8,800
down €8,800 (-20.0%), from €44,000 to €35,200
- Cash -€5,886
down €5,886 (-30.4%), from €19,335 to €13,449
mainly Debts after one year (-€15,906) and Current portion of long-term debt (-€9,865)
- Debts after one year -€15,906
down €15,906 (-51.5%), from €30,906 to €15,000
- Current portion of long-term debt -€9,865
down €9,865 (-38.3%), from €25,771 to €15,906
- Other debts +€7,015
up €7,015 (+18.9%), from €37,144 to €44,159
- Profit (loss) carried forward +€5,041
up €5,041 (+12.7%), from -€39,664 to -€34,623
- Trade debts -€2,161
down €2,161 (-78.8%), from €2,741 to €581
- Gross operating margin -€567
down €567 (-3.1%), from €18,168 to €17,601
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 | €67,150 | €52,028 | -€15,122 | -22.5% |
| Fixed assets | 21/28 | €44,000 | €35,200 | -€8,800 | -20.0% |
| Tangible fixed assets | 22/27 | €44,000 | €35,200 | -€8,800 | -20.0% |
| Land and buildings | 22 | €44,000 | €35,200 | -€8,800 | -20.0% |
| Current assets | 29/58 | €23,150 | €16,828 | -€6,322 | -27.3% |
| Amounts receivable within one year | 40/41 | €3,674 | €3,380 | -€295 | -8.0% |
| Trade receivables | 40 | €3,674 | €3,380 | -€295 | -8.0% |
| Cash at bank and in hand | 54/58 | €19,335 | €13,449 | -€5,886 | -30.4% |
| Deferred charges and accrued income | 490/1 | €142 | - | -€142 | |
| Total equity and liabilities | 10/49 | €67,150 | €52,028 | -€15,122 | -22.5% |
| Equity | 10/15 | -€31,464 | -€26,423 | +€5,041 | +16.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€39,664 | -€34,623 | +€5,041 | +12.7% |
| Amounts payable | 17/49 | €98,614 | €78,452 | -€20,162 | -20.4% |
| Amounts payable after more than one year | 17 | €30,906 | €15,000 | -€15,906 | -51.5% |
| Financial debts | 170/4 | €30,906 | €15,000 | -€15,906 | -51.5% |
| Amounts payable within one year | 42/48 | €67,708 | €63,452 | -€4,256 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €25,771 | €15,906 | -€9,865 | -38.3% |
| Financial debts | 43 | €31 | €106 | +€75 | +239.7% |
| Credit institutions | 430/8 | €31 | €106 | +€75 | +239.7% |
| Trade debts | 44 | €2,741 | €581 | -€2,161 | -78.8% |
| Suppliers | 440/4 | €2,741 | €581 | -€2,161 | -78.8% |
| Taxes, remuneration and social security | 45 | €2,020 | €2,699 | +€679 | +33.6% |
| Taxes | 450/3 | €2,002 | €2,689 | +€687 | +34.3% |
| Remuneration and social security | 454/9 | €18 | €10 | -€8 | -44.4% |
| Other amounts payable | 47/48 | €37,144 | €44,159 | +€7,015 | +18.9% |
| Remuneration, social security and pensions | 62 | €159 | €232 | +€73 | +45.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,800 | €8,800 | = | 0.0% |
| Other operating charges | 640/8 | €2,177 | €2,189 | +€12 | +0.6% |
| Gross operating margin | 9900 | €18,168 | €17,601 | -€567 | -3.1% |
| Operating profit (loss) | 9901 | €7,032 | €6,380 | -€652 | -9.3% |
| Financial income | 75/76B | €37 | - | -€37 | |
| Recurring financial income | 75 | €37 | - | -€37 | |
| Financial charges | 65/66B | €1,267 | €1,094 | -€173 | -13.6% |
| Recurring financial charges | 65 | €1,267 | €1,094 | -€173 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €5,802 | €5,286 | -€516 | -8.9% |
| Income taxes | 67/77 | €250 | €245 | -€5 | -2.1% |
| Profit (loss) for the period | 9904 | €5,552 | €5,041 | -€511 | -9.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,552 | €5,041 | -€511 | -9.2% |
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 6 October 2026 via checked.be.