TWENTYEIGHT: 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.
TWENTYEIGHT
Largest movements
- Cash +€28,103
up €28,103 (+176.0%), from €15,969 to €44,072
mainly Net result for the year (+€21,117) and Depreciation (+€7,180)
- Tangible fixed assets -€7,180
down €7,180 (-4.8%), from €150,354 to €143,174
of which Land and buildings: -€4,851
- Deferred charges and accrued income +€5,272
up €5,272 (+1244.0%), from €424 to €5,696
- Profit (loss) carried forward +€21,117
up €21,117 (+40.5%), from €52,086 to €73,202
- Debts after one year -€5,987
down €5,987 (-6.1%), from €98,622 to €92,635
- Tax, wage and social debts +€5,060
up €5,060 (+43.1%), from €11,728 to €16,789
of which Taxes: +€5,060
- Other debts +€2,887
up €2,887 (+80.6%), from €3,580 to €6,467
- Financial charges +€2,587
up €2,587 (+77.7%), from €3,328 to €5,916
- Gross operating margin +€1,829
up €1,829 (+4.5%), from €41,022 to €42,850
- Depreciation +€526
up €526 (+7.9%), from €6,654 to €7,180
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 | €194,567 | €219,276 | +€24,709 | +12.7% |
| Fixed assets | 21/28 | €150,360 | €143,180 | -€7,180 | -4.8% |
| Tangible fixed assets | 22/27 | €150,354 | €143,174 | -€7,180 | -4.8% |
| Land and buildings | 22 | €142,244 | €137,393 | -€4,851 | -3.4% |
| Furniture and vehicles | 24 | €8,110 | €5,781 | -€2,329 | -28.7% |
| Financial fixed assets | 28 | €6 | €6 | = | 0.0% |
| Current assets | 29/58 | €44,207 | €76,096 | +€31,889 | +72.1% |
| Amounts receivable within one year | 40/41 | €27,814 | €26,328 | -€1,485 | -5.3% |
| Trade receivables | 40 | €26,190 | €25,483 | -€708 | -2.7% |
| Other amounts receivable | 41 | €1,623 | €846 | -€778 | -47.9% |
| Cash at bank and in hand | 54/58 | €15,969 | €44,072 | +€28,103 | +176.0% |
| Deferred charges and accrued income | 490/1 | €424 | €5,696 | +€5,272 | +1244.0% |
| Total equity and liabilities | 10/49 | €194,567 | €219,276 | +€24,709 | +12.7% |
| Equity | 10/15 | €72,546 | €93,662 | +€21,117 | +29.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,086 | €73,202 | +€21,117 | +40.5% |
| Amounts payable | 17/49 | €122,021 | €125,614 | +€3,592 | +2.9% |
| Amounts payable after more than one year | 17 | €98,622 | €92,635 | -€5,987 | -6.1% |
| Financial debts | 170/4 | €98,622 | €92,635 | -€5,987 | -6.1% |
| Amounts payable within one year | 42/48 | €22,881 | €31,431 | +€8,550 | +37.4% |
| Current portion of amounts payable after more than one year | 42 | €6,357 | €6,481 | +€124 | +2.0% |
| Trade debts | 44 | €1,216 | €1,695 | +€478 | +39.3% |
| Suppliers | 440/4 | €1,216 | €1,695 | +€478 | +39.3% |
| Taxes, remuneration and social security | 45 | €11,728 | €16,789 | +€5,060 | +43.1% |
| Taxes | 450/3 | €11,728 | €16,789 | +€5,060 | +43.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,580 | €6,467 | +€2,887 | +80.6% |
| Accrued charges and deferred income | 492/3 | €517 | €1,547 | +€1,030 | +199.0% |
| Non-recurring operating income | 76A | - | €5,013 | +€5,013 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,654 | €7,180 | +€526 | +7.9% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | €41,022 | €42,850 | +€1,829 | +4.5% |
| Operating profit (loss) | 9901 | €33,917 | €35,205 | +€1,288 | +3.8% |
| Financial income | 75/76B | €344 | €52 | -€292 | -84.9% |
| Recurring financial income | 75 | €344 | €52 | -€292 | -84.9% |
| Financial charges | 65/66B | €3,328 | €5,916 | +€2,587 | +77.7% |
| Recurring financial charges | 65 | €3,328 | €5,916 | +€2,587 | +77.7% |
| Profit (loss) for the period before taxes | 9903 | €30,932 | €29,341 | -€1,591 | -5.1% |
| Income taxes | 67/77 | €8,375 | €8,224 | -€151 | -1.8% |
| Profit (loss) for the period | 9904 | €22,557 | €21,117 | -€1,440 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,557 | €21,117 | -€1,440 | -6.4% |
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 2 October 2026 via checked.be.