Unit C: 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.
Unit C
Largest movements
- Stocks and contracts +€144,711
up €144,711 (+39.3%), from €368,212 to €512,924
- Tangible fixed assets -€12,790
down €12,790 (-4.1%), from €308,419 to €295,629
- Short-term financial debts +€119,737
up €119,737 (+57.5%), from €208,263 to €328,000
- Debts after one year -€19,752
down €19,752 (-9.4%), from €210,246 to €190,494
- Other debts +€19,093
up €19,093 (+9.9%), from €191,906 to €210,999
- Reserves +€10,335
up €10,335 (+26.6%), from €38,890 to €49,225
- Gross operating margin +€33,558
up €33,558 (+1096.4%), from €3,061 to €36,619
- Financial charges +€1,053
up €1,053 (+11.8%), from €8,953 to €10,006
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 | €691,993 | €822,946 | +€130,953 | +18.9% |
| Formation expenses | 20 | €1,323 | €167 | -€1,157 | -87.4% |
| Fixed assets | 21/28 | €308,419 | €295,629 | -€12,790 | -4.1% |
| Tangible fixed assets | 22/27 | €308,419 | €295,629 | -€12,790 | -4.1% |
| Land and buildings | 22 | €308,419 | €295,629 | -€12,790 | -4.1% |
| Current assets | 29/58 | €382,251 | €527,150 | +€144,899 | +37.9% |
| Stocks and contracts in progress | 3 | €368,212 | €512,924 | +€144,711 | +39.3% |
| Stocks | 30/36 | €368,212 | €512,924 | +€144,711 | +39.3% |
| Amounts receivable within one year | 40/41 | €23 | €5,000 | +€4,977 | +21639.1% |
| Trade receivables | 40 | €23 | €0 | -€23 | -100.0% |
| Other amounts receivable | 41 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €14,015 | €9,226 | -€4,789 | -34.2% |
| Total equity and liabilities | 10/49 | €691,993 | €822,946 | +€130,953 | +18.9% |
| Equity | 10/15 | €58,890 | €69,225 | +€10,335 | +17.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €38,890 | €49,225 | +€10,335 | +26.6% |
| Distributable reserves | 133 | €38,890 | €49,225 | +€10,335 | +26.6% |
| Amounts payable | 17/49 | €633,103 | €753,721 | +€120,618 | +19.1% |
| Amounts payable after more than one year | 17 | €210,246 | €190,494 | -€19,752 | -9.4% |
| Financial debts | 170/4 | €210,246 | €190,494 | -€19,752 | -9.4% |
| Amounts payable within one year | 42/48 | €422,857 | €563,227 | +€140,370 | +33.2% |
| Current portion of amounts payable after more than one year | 42 | €19,557 | €19,752 | +€195 | +1.0% |
| Financial debts | 43 | €208,263 | €328,000 | +€119,737 | +57.5% |
| Other loans | 439 | €208,263 | €328,000 | +€119,737 | +57.5% |
| Trade debts | 44 | €540 | €327 | -€213 | -39.5% |
| Suppliers | 440/4 | €540 | €327 | -€213 | -39.5% |
| Taxes, remuneration and social security | 45 | €2,592 | €4,149 | +€1,558 | +60.1% |
| Taxes | 450/3 | €2,592 | €4,149 | +€1,558 | +60.1% |
| Other amounts payable | 47/48 | €191,906 | €210,999 | +€19,093 | +9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,946 | €13,946 | = | 0.0% |
| Other operating charges | 640/8 | €2,361 | €2,332 | -€29 | -1.2% |
| Gross operating margin | 9900 | €3,061 | €36,619 | +€33,558 | +1096.4% |
| Operating profit (loss) | 9901 | -€13,247 | €20,340 | +€33,587 | |
| Financial charges | 65/66B | €8,953 | €10,006 | +€1,053 | +11.8% |
| Recurring financial charges | 65 | €8,953 | €10,006 | +€1,053 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | -€22,200 | €10,335 | +€32,534 | |
| Profit (loss) for the period | 9904 | -€22,200 | €10,335 | +€32,534 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,200 | €10,335 | +€32,534 |
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 8 October 2026 via checked.be.