TROUBLE SHOOTERS: 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.
TROUBLE SHOOTERS
Largest movements
- Receivables after one year -€90,000
down €90,000 (-66.7%), from €135,000 to €45,000
- Tangible fixed assets +€66,144
up €66,144 (+42.0%), from €157,671 to €223,815
of which Land and buildings: +€83,917
- Receivables within one year -€8,017
down €8,017 (-76.8%), from €10,439 to €2,422
of which Other amounts receivable: -€10,116
- Cash +€7,585
up €7,585 (+191%), from €3,963 to €11,548
mainly Receivables after one year (+€90,000) and Depreciation (+€35,553)
- Advances received +€21,096
new in 2025: €21,096
- Other debts -€20,581
down €20,581 (-42.7%), from €48,178 to €27,597
- Trade debts -€16,264
down €16,264 (-90.5%), from €17,972 to €1,708
- Debts after one year -€10,123
down €10,123 (-87.0%), from €11,638 to €1,515
- Current portion of long-term debt -€8,005
down €8,005 (-47.0%), from €17,035 to €9,030
- Gross operating margin -€12,421
down €12,421 (-13.1%), from €94,480 to €82,059
- Depreciation -€4,582
down €4,582 (-11.4%), from €40,134 to €35,553
- Taxes -€3,304
down €3,304 (-17.2%), from €19,188 to €15,884
- Financial income -€1,453
down €1,453 (-56.4%), from €2,578 to €1,125
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 | €307,073 | €282,786 | -€24,287 | -7.9% |
| Fixed assets | 21/28 | €157,671 | €223,815 | +€66,144 | +42.0% |
| Tangible fixed assets | 22/27 | €157,671 | €223,815 | +€66,144 | +42.0% |
| Land and buildings | 22 | €83,403 | €167,320 | +€83,917 | +101% |
| Plant, machinery and equipment | 23 | - | €1,342 | +€1,342 | |
| Furniture and vehicles | 24 | €6,360 | €3,973 | -€2,387 | -37.5% |
| Leasing and similar rights | 25 | €4,914 | €0 | -€4,914 | -100% |
| Other tangible fixed assets | 26 | €62,994 | €51,180 | -€11,814 | -18.8% |
| Current assets | 29/58 | €149,403 | €58,971 | -€90,432 | -60.5% |
| Amounts receivable after more than one year | 29 | €135,000 | €45,000 | -€90,000 | -66.7% |
| Other amounts receivable | 291 | €135,000 | €45,000 | -€90,000 | -66.7% |
| Amounts receivable within one year | 40/41 | €10,439 | €2,422 | -€8,017 | -76.8% |
| Trade receivables | 40 | - | €2,099 | +€2,099 | |
| Other amounts receivable | 41 | €10,439 | €323 | -€10,116 | -96.9% |
| Cash at bank and in hand | 54/58 | €3,963 | €11,548 | +€7,585 | +191% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €307,073 | €282,786 | -€24,287 | -7.9% |
| Equity | 10/15 | €174,419 | €182,187 | +€7,768 | +4.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €112,419 | €120,187 | +€7,768 | +6.9% |
| Non-distributable reserves | 130/1 | €8,855 | €8,855 | = | 0.0% |
| Legal reserve | 130 | €8,855 | €8,855 | = | 0.0% |
| Distributable reserves | 133 | €103,564 | €111,332 | +€7,768 | +7.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €132,654 | €100,599 | -€32,055 | -24.2% |
| Amounts payable after more than one year | 17 | €11,638 | €1,515 | -€10,123 | -87.0% |
| Financial debts | 170/4 | €11,638 | €1,515 | -€10,123 | -87.0% |
| Amounts payable within one year | 42/48 | €121,016 | €99,084 | -€21,932 | -18.1% |
| Current portion of amounts payable after more than one year | 42 | €17,035 | €9,030 | -€8,005 | -47.0% |
| Financial debts | 43 | €3,718 | €4,632 | +€913 | +24.6% |
| Credit institutions | 430/8 | - | €4,632 | +€4,632 | |
| Other loans | 439 | €3,718 | €0 | -€3,718 | -100% |
| Trade debts | 44 | €17,972 | €1,708 | -€16,264 | -90.5% |
| Suppliers | 440/4 | €17,972 | €1,708 | -€16,264 | -90.5% |
| Advances received on contracts in progress | 46 | - | €21,096 | +€21,096 | |
| Taxes, remuneration and social security | 45 | €34,112 | €35,021 | +€909 | +2.7% |
| Taxes | 450/3 | €34,112 | €35,021 | +€909 | +2.7% |
| Other amounts payable | 47/48 | €48,178 | €27,597 | -€20,581 | -42.7% |
| Remuneration, social security and pensions | 62 | €3,581 | €3,154 | -€427 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,134 | €35,553 | -€4,582 | -11.4% |
| Other operating charges | 640/8 | €4,195 | €3,320 | -€875 | -20.9% |
| Gross operating margin | 9900 | €94,480 | €82,059 | -€12,421 | -13.1% |
| Operating profit (loss) | 9901 | €46,570 | €40,033 | -€6,537 | -14.0% |
| Financial income | 75/76B | €2,578 | €1,125 | -€1,453 | -56.4% |
| Recurring financial income | 75 | €2,578 | €1,125 | -€1,453 | -56.4% |
| Financial charges | 65/66B | €2,310 | €2,276 | -€34 | -1.5% |
| Recurring financial charges | 65 | €2,310 | €2,276 | -€34 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €46,838 | €38,882 | -€7,956 | -17.0% |
| Income taxes | 67/77 | €19,188 | €15,884 | -€3,304 | -17.2% |
| Profit (loss) for the period | 9904 | €27,649 | €22,997 | -€4,652 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €27,649 | €22,997 | -€4,652 | -16.8% |
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 31 October 2026 via checked.be.