TWICE THE BODY: 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.
TWICE THE BODY
Largest movements
- Deferred charges and accrued income -€114,264
down €114,264 (-100%), from €114,264 to €0
- Receivables within one year -€80,196
down €80,196 (-79.8%), from €100,522 to €20,327
of which Other amounts receivable: -€97,014
- Intangible fixed assets -€74,865
down €74,865 (-100%), from €74,865 to €0
- Receivables after one year +€23,633
up €23,633 (+22.6%), from €104,427 to €128,059
- Cash -€17,618
down €17,618 (-64.8%), from €27,189 to €9,571
mainly Debts after one year (-€199,626) and Current portion of long-term debt (-€36,314)
- Debts after one year -€199,626
down €199,626 (-26.1%), from €764,896 to €565,271
- Current portion of long-term debt -€36,314
down €36,314 (-37.6%), from €96,651 to €60,337
- Tax, wage and social debts -€36,188
down €36,188 (-84.4%), from €42,898 to €6,711
of which Remuneration and social security: -€42,583
- Trade debts -€33,655
down €33,655 (-90.3%), from €37,270 to €3,616
- Other debts +€23,754
up €23,754 (+27.1%), from €87,531 to €111,285
- Gross operating margin -€363,485
down €363,485 (-80.0%), from €454,367 to €90,882
- Staff costs -€260,710
down €260,710 (-100%), from €260,710 to €0
- Depreciation -€102,199
down €102,199 (-63.7%), from €160,554 to €58,355
- Taxes -€4,965
down €4,965 (-42.5%), from €11,676 to €6,711
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 | €1,125,490 | €844,732 | -€280,759 | -24.9% |
| Fixed assets | 21/28 | €779,088 | €686,775 | -€92,314 | -11.8% |
| Intangible fixed assets | 21 | €74,865 | €0 | -€74,865 | -100% |
| Tangible fixed assets | 22/27 | €704,124 | €686,675 | -€17,449 | -2.5% |
| Land and buildings | 22 | €678,409 | €678,095 | -€314 | 0.0% |
| Furniture and vehicles | 24 | €25,714 | €8,579 | -€17,135 | -66.6% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €346,402 | €157,957 | -€188,445 | -54.4% |
| Amounts receivable after more than one year | 29 | €104,427 | €128,059 | +€23,633 | +22.6% |
| Other amounts receivable | 291 | €104,427 | €128,059 | +€23,633 | +22.6% |
| Amounts receivable within one year | 40/41 | €100,522 | €20,327 | -€80,196 | -79.8% |
| Trade receivables | 40 | €3,508 | €20,327 | +€16,818 | +479% |
| Other amounts receivable | 41 | €97,014 | €0 | -€97,014 | -100% |
| Cash at bank and in hand | 54/58 | €27,189 | €9,571 | -€17,618 | -64.8% |
| Deferred charges and accrued income | 490/1 | €114,264 | €0 | -€114,264 | -100% |
| Total equity and liabilities | 10/49 | €1,125,490 | €844,732 | -€280,759 | -24.9% |
| Equity | 10/15 | €95,252 | €97,158 | +€1,906 | +2.0% |
| Contributions | 10/11 | €500 | €474 | -€26 | -5.2% |
| Reserves | 13 | €94,752 | €96,684 | +€1,932 | +2.0% |
| Tax-exempt reserves | 132 | €650 | €616 | -€34 | -5.2% |
| Distributable reserves | 133 | €94,102 | €96,067 | +€1,965 | +2.1% |
| Amounts payable | 17/49 | €1,030,238 | €747,574 | -€282,664 | -27.4% |
| Amounts payable after more than one year | 17 | €764,896 | €565,271 | -€199,626 | -26.1% |
| Financial debts | 170/4 | €764,896 | €565,271 | -€199,626 | -26.1% |
| Amounts payable within one year | 42/48 | €265,342 | €182,303 | -€83,039 | -31.3% |
| Current portion of amounts payable after more than one year | 42 | €96,651 | €60,337 | -€36,314 | -37.6% |
| Financial debts | 43 | €991 | €354 | -€637 | -64.3% |
| Credit institutions | 430/8 | €991 | €354 | -€637 | -64.3% |
| Trade debts | 44 | €37,270 | €3,616 | -€33,655 | -90.3% |
| Suppliers | 440/4 | €37,270 | €3,616 | -€33,655 | -90.3% |
| Taxes, remuneration and social security | 45 | €42,898 | €6,711 | -€36,188 | -84.4% |
| Taxes | 450/3 | €315 | €6,711 | +€6,396 | +2,030% |
| Remuneration and social security | 454/9 | €42,583 | €0 | -€42,583 | -100% |
| Other amounts payable | 47/48 | €87,531 | €111,285 | +€23,754 | +27.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €260,710 | €0 | -€260,710 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160,554 | €58,355 | -€102,199 | -63.7% |
| Other operating charges | 640/8 | €2,462 | €1,069 | -€1,394 | -56.6% |
| Gross operating margin | 9900 | €454,367 | €90,882 | -€363,485 | -80.0% |
| Operating profit (loss) | 9901 | €30,640 | €31,458 | +€818 | +2.7% |
| Financial income | 75/76B | €2,170 | €0 | -€2,170 | -100% |
| Recurring financial income | 75 | €2,170 | €0 | -€2,170 | -100% |
| Financial charges | 65/66B | €14,853 | €17,912 | +€3,059 | +20.6% |
| Recurring financial charges | 65 | €14,853 | €17,912 | +€3,059 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €17,957 | €13,546 | -€4,411 | -24.6% |
| Income taxes | 67/77 | €11,676 | €6,711 | -€4,965 | -42.5% |
| Profit (loss) for the period | 9904 | €6,281 | €6,835 | +€555 | +8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,281 | €6,835 | +€555 | +8.8% |
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 27 October 2026 via checked.be.