Tunnelweg 20: 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.
Tunnelweg 20
Largest movements
- Tangible fixed assets -€47,331
down €47,331 (-3.3%), from €1.4m to €1.4m
of which Land and buildings: -€57,834
- Cash +€23,102
up €23,102 (+9.6%), from €239,845 to €262,947
mainly Depreciation (+€61,839) and Net result for the year (+€33,324)
- Debts after one year -€61,478
down €61,478 (-5.3%), from €1.2m to €1.1m
of which Financial debts: -€61,478
- Reserves +€33,324
up €33,324 (+16.6%), from €200,354 to €233,679
of which Distributable reserves: +€33,324
- Gross operating margin -€4,715
down €4,715 (-2.5%), from €185,280 to €180,566
- Financial charges -€2,954
down €2,954 (-5.0%), from €59,547 to €56,592
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 | €1,681,547 | €1,650,210 | -€31,338 | -1.9% |
| Fixed assets | 21/28 | €1,433,507 | €1,386,176 | -€47,331 | -3.3% |
| Tangible fixed assets | 22/27 | €1,433,507 | €1,386,176 | -€47,331 | -3.3% |
| Land and buildings | 22 | €1,424,513 | €1,366,678 | -€57,834 | -4.1% |
| Plant, machinery and equipment | 23 | - | €14,003 | +€14,003 | |
| Furniture and vehicles | 24 | €8,995 | €5,495 | -€3,500 | -38.9% |
| Current assets | 29/58 | €248,040 | €264,034 | +€15,994 | +6.4% |
| Amounts receivable within one year | 40/41 | €8,195 | €1,087 | -€7,108 | -86.7% |
| Other amounts receivable | 41 | €8,195 | €1,087 | -€7,108 | -86.7% |
| Cash at bank and in hand | 54/58 | €239,845 | €262,947 | +€23,102 | +9.6% |
| Total equity and liabilities | 10/49 | €1,681,547 | €1,650,210 | -€31,338 | -1.9% |
| Equity | 10/15 | €400,354 | €433,679 | +€33,324 | +8.3% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €200,354 | €233,679 | +€33,324 | +16.6% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €180,354 | €213,679 | +€33,324 | +18.5% |
| Amounts payable | 17/49 | €1,281,193 | €1,216,531 | -€64,662 | -5.0% |
| Amounts payable after more than one year | 17 | €1,162,108 | €1,100,630 | -€61,478 | -5.3% |
| Financial debts | 170/4 | €444,608 | €383,130 | -€61,478 | -13.8% |
| Other amounts payable | 178/9 | €717,500 | €717,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €63,512 | €62,779 | -€733 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €60,042 | €61,478 | +€1,436 | +2.4% |
| Trade debts | 44 | €189 | €1,302 | +€1,113 | +589.5% |
| Suppliers | 440/4 | €189 | €1,302 | +€1,113 | +589.5% |
| Taxes, remuneration and social security | 45 | €3,282 | €0 | -€3,282 | -100.0% |
| Taxes | 450/3 | €3,282 | €0 | -€3,282 | -100.0% |
| Accrued charges and deferred income | 492/3 | €55,572 | €53,121 | -€2,451 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,334 | €61,839 | +€505 | +0.8% |
| Other operating charges | 640/8 | €17,180 | €17,702 | +€522 | +3.0% |
| Gross operating margin | 9900 | €185,280 | €180,566 | -€4,715 | -2.5% |
| Operating profit (loss) | 9901 | €106,765 | €101,024 | -€5,741 | -5.4% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €59,547 | €56,592 | -€2,954 | -5.0% |
| Recurring financial charges | 65 | €59,547 | €56,592 | -€2,954 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €47,220 | €44,432 | -€2,787 | -5.9% |
| Income taxes | 67/77 | €11,805 | €11,108 | -€697 | -5.9% |
| Profit (loss) for the period | 9904 | €35,415 | €33,324 | -€2,091 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,415 | €33,324 | -€2,091 | -5.9% |
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 7 October 2026 via checked.be.