V - LEVEL: 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.
V - LEVEL
Largest movements
- Tangible fixed assets -€44,042
down €44,042 (-5.4%), from €810,087 to €766,045
of which Land and buildings: -€31,360
- Debts after one year -€41,117
down €41,117 (-8.5%), from €486,226 to €445,109
- Profit (loss) carried forward +€9,592
up €9,592 (+15.0%), from -€64,071 to -€54,478
- Gross operating margin -€3,564
down €3,564 (-4.6%), from €78,166 to €74,602
- Other operating charges +€2,210
up €2,210 (+23.3%), from €9,468 to €11,678
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 | €823,925 | €784,928 | -€38,996 | -4.7% |
| Fixed assets | 21/28 | €810,087 | €766,045 | -€44,042 | -5.4% |
| Tangible fixed assets | 22/27 | €810,087 | €766,045 | -€44,042 | -5.4% |
| Land and buildings | 22 | €704,676 | €673,316 | -€31,360 | -4.5% |
| Other tangible fixed assets | 26 | €105,411 | €92,729 | -€12,682 | -12.0% |
| Current assets | 29/58 | €13,837 | €18,883 | +€5,046 | +36.5% |
| Amounts receivable after more than one year | 29 | - | €6,711 | +€6,711 | |
| Trade receivables | 290 | - | €6,711 | +€6,711 | |
| Cash at bank and in hand | 54/58 | €6,612 | €5,878 | -€734 | -11.1% |
| Deferred charges and accrued income | 490/1 | €7,226 | €6,294 | -€931 | -12.9% |
| Total equity and liabilities | 10/49 | €823,925 | €784,928 | -€38,996 | -4.7% |
| Equity | 10/15 | -€44,071 | -€34,478 | +€9,592 | +21.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,071 | -€54,478 | +€9,592 | +15.0% |
| Amounts payable | 17/49 | €867,995 | €819,407 | -€48,589 | -5.6% |
| Amounts payable after more than one year | 17 | €486,226 | €445,109 | -€41,117 | -8.5% |
| Financial debts | 170/4 | €486,226 | €445,109 | -€41,117 | -8.5% |
| Amounts payable within one year | 42/48 | €375,621 | €368,751 | -€6,869 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €40,403 | €41,117 | +€714 | +1.8% |
| Trade debts | 44 | €29,113 | €29,113 | = | 0.0% |
| Suppliers | 440/4 | €29,113 | €29,113 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €3,423 | €3,240 | -€184 | -5.4% |
| Taxes | 450/3 | €3,423 | €3,240 | -€184 | -5.4% |
| Other amounts payable | 47/48 | €302,682 | €295,282 | -€7,400 | -2.4% |
| Accrued charges and deferred income | 492/3 | €6,148 | €5,546 | -€602 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,380 | €44,042 | -€338 | -0.8% |
| Other operating charges | 640/8 | €9,468 | €11,678 | +€2,210 | +23.3% |
| Gross operating margin | 9900 | €78,166 | €74,602 | -€3,564 | -4.6% |
| Operating profit (loss) | 9901 | €24,318 | €18,882 | -€5,436 | -22.4% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €9,691 | €9,019 | -€672 | -6.9% |
| Recurring financial charges | 65 | €9,691 | €9,019 | -€672 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €14,627 | €9,863 | -€4,765 | -32.6% |
| Income taxes | 67/77 | - | €271 | +€271 | |
| Profit (loss) for the period | 9904 | €14,627 | €9,592 | -€5,035 | -34.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,627 | €9,592 | -€5,035 | -34.4% |
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 14 October 2026 via checked.be.