Transfo verdieping 3: 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.
Transfo verdieping 3
Largest movements
- Receivables within one year -€147,998
down €147,998 (-75.7%), from €195,598 to €47,600
of which Other amounts receivable: -€175,198
- Cash -€50,196
down €50,196 (-67.3%), from €74,641 to €24,445
mainly Other debts (-€202,821) and Debts after one year (-€33,268)
- Tangible fixed assets -€40,739
down €40,739 (-5.2%), from €776,390 to €735,650
- Other debts -€202,821
down €202,821 (-83.9%), from €241,670 to €38,849
- Debts after one year -€33,268
down €33,268 (-4.2%), from €789,323 to €756,055
- Gross operating margin +€23,295
up €23,295 (+48.5%), from €48,039 to €71,334
- Depreciation -€8,129
down €8,129 (-16.6%), from €48,869 to €40,739
- Financial charges -€3,869
down €3,869 (-12.0%), from €32,170 to €28,301
- Financial income -€1,040
down €1,040 (-99.9%), from €1,041 to €1
- Other operating charges +€913
up €913 (+17.5%), from €5,223 to €6,136
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 | €1,046,628 | €807,695 | -€238,933 | -22.8% |
| Fixed assets | 21/28 | €776,390 | €735,650 | -€40,739 | -5.2% |
| Tangible fixed assets | 22/27 | €776,390 | €735,650 | -€40,739 | -5.2% |
| Land and buildings | 22 | €776,390 | €735,650 | -€40,739 | -5.2% |
| Current assets | 29/58 | €270,239 | €72,045 | -€198,194 | -73.3% |
| Amounts receivable within one year | 40/41 | €195,598 | €47,600 | -€147,998 | -75.7% |
| Trade receivables | 40 | €20,400 | €47,600 | +€27,200 | +133% |
| Other amounts receivable | 41 | €175,198 | €0 | -€175,198 | -100% |
| Cash at bank and in hand | 54/58 | €74,641 | €24,445 | -€50,196 | -67.3% |
| Total equity and liabilities | 10/49 | €1,046,628 | €807,695 | -€238,933 | -22.8% |
| Equity | 10/15 | -€27,181 | -€31,022 | -€3,840 | -14.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,181 | -€41,022 | -€3,840 | -10.3% |
| Amounts payable | 17/49 | €1,073,810 | €838,717 | -€235,093 | -21.9% |
| Amounts payable after more than one year | 17 | €789,323 | €756,055 | -€33,268 | -4.2% |
| Financial debts | 170/4 | €789,323 | €756,055 | -€33,268 | -4.2% |
| Amounts payable within one year | 42/48 | €274,307 | €73,912 | -€200,395 | -73.1% |
| Current portion of amounts payable after more than one year | 42 | €32,152 | €33,268 | +€1,116 | +3.5% |
| Trade debts | 44 | €485 | €1,795 | +€1,310 | +270% |
| Suppliers | 440/4 | €485 | €1,795 | +€1,310 | +270% |
| Other amounts payable | 47/48 | €241,670 | €38,849 | -€202,821 | -83.9% |
| Accrued charges and deferred income | 492/3 | €10,179 | €8,749 | -€1,430 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,869 | €40,739 | -€8,129 | -16.6% |
| Other operating charges | 640/8 | €5,223 | €6,136 | +€913 | +17.5% |
| Gross operating margin | 9900 | €48,039 | €71,334 | +€23,295 | +48.5% |
| Operating profit (loss) | 9901 | -€6,053 | €24,459 | +€30,512 | |
| Financial income | 75/76B | €1,041 | €1 | -€1,040 | -99.9% |
| Recurring financial income | 75 | €1,041 | €1 | -€1,040 | -99.9% |
| Financial charges | 65/66B | €32,170 | €28,301 | -€3,869 | -12.0% |
| Recurring financial charges | 65 | €32,170 | €28,301 | -€3,869 | -12.0% |
| Profit (loss) for the period before taxes | 9903 | -€37,181 | -€3,840 | +€33,341 | +89.7% |
| Profit (loss) for the period | 9904 | -€37,181 | -€3,840 | +€33,341 | +89.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,181 | -€3,840 | +€33,341 | +89.7% |
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 28 October 2026 via checked.be.