TWO IDENTICAL FACES: 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.
TWO IDENTICAL FACES
Largest movements
- Deferred charges and accrued income -€283,714
down €283,714 (-95.9%), from €295,752 to €12,038
- Other debts -€149,936
down €149,936 (-3.4%), from €4.4m to €4.3m
- Financial charges +€23,127
up €23,127 (+7.5%), from €306,468 to €329,595
- Other operating charges -€9,146
down €9,146 (-77.0%), from €11,882 to €2,736
- Taxes -€5,379
down €5,379 (-44.6%), from €12,058 to €6,680
- Gross operating margin +€4,309
up €4,309 (+1.3%), from €339,920 to €344,230
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 | €10,278,513 | €9,993,304 | -€285,209 | -2.8% |
| Fixed assets | 21/28 | €9,980,800 | €9,980,800 | = | 0.0% |
| Financial fixed assets | 28 | €9,980,800 | €9,980,800 | = | 0.0% |
| Current assets | 29/58 | €297,713 | €12,504 | -€285,209 | -95.8% |
| Cash at bank and in hand | 54/58 | €1,961 | €465 | -€1,495 | -76.3% |
| Deferred charges and accrued income | 490/1 | €295,752 | €12,038 | -€283,714 | -95.9% |
| Total equity and liabilities | 10/49 | €10,278,513 | €9,993,304 | -€285,209 | -2.8% |
| Equity | 10/15 | €4,743,557 | €4,748,802 | +€5,245 | +0.1% |
| Contributions | 10/11 | €4,210,575 | €4,210,575 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €532,982 | €538,227 | +€5,245 | +1.0% |
| Provisions and deferred taxes | 16 | €4,917 | €4,917 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €4,917 | €4,917 | = | 0.0% |
| Pensions and similar obligations | 160 | €4,917 | €4,917 | = | 0.0% |
| Amounts payable | 17/49 | €5,530,038 | €5,239,584 | -€290,454 | -5.3% |
| Amounts payable after more than one year | 17 | €855,000 | €757,000 | -€98,000 | -11.5% |
| Financial debts | 170/4 | €855,000 | €757,000 | -€98,000 | -11.5% |
| Amounts payable within one year | 42/48 | €4,675,038 | €4,482,584 | -€192,454 | -4.1% |
| Trade debts | 44 | €1,535 | €2,420 | +€885 | +57.7% |
| Suppliers | 440/4 | €1,535 | €2,420 | +€885 | +57.7% |
| Taxes, remuneration and social security | 45 | €240,776 | €197,373 | -€43,403 | -18.0% |
| Taxes | 450/3 | €240,776 | €197,373 | -€43,403 | -18.0% |
| Other amounts payable | 47/48 | €4,432,727 | €4,282,791 | -€149,936 | -3.4% |
| Other operating charges | 640/8 | €11,882 | €2,736 | -€9,146 | -77.0% |
| Gross operating margin | 9900 | €339,920 | €344,230 | +€4,309 | +1.3% |
| Operating profit (loss) | 9901 | €328,039 | €341,494 | +€13,455 | +4.1% |
| Financial income | 75/76B | €0 | €26 | +€26 | |
| Recurring financial income | 75 | €0 | €26 | +€26 | |
| Financial charges | 65/66B | €306,468 | €329,595 | +€23,127 | +7.5% |
| Recurring financial charges | 65 | €306,468 | €329,595 | +€23,127 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €21,571 | €11,925 | -€9,646 | -44.7% |
| Income taxes | 67/77 | €12,058 | €6,680 | -€5,379 | -44.6% |
| Profit (loss) for the period | 9904 | €9,513 | €5,245 | -€4,268 | -44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,513 | €5,245 | -€4,268 | -44.9% |
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 10 October 2026 via checked.be.