Visual Boost: 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.
Visual Boost
Largest movements
- Tangible fixed assets +€136,268
up €136,268 (+55.3%), from €246,416 to €382,684
of which Land and buildings: +€119,531
- Cash -€31,506
down €31,506 (-45.7%), from €68,941 to €37,435
mainly Investment in fixed assets (net) (-€166,363) and Tax, wage and social debts (-€2,887)
- Debts after one year +€73,446
up €73,446 (+56.6%), from €129,779 to €203,225
- Reserves +€19,242
up €19,242 (+18.9%), from €101,980 to €121,222
- Current portion of long-term debt +€10,344
up €10,344 (+50.3%), from €20,584 to €30,928
- Taxes -€1,865
down €1,865 (-28.5%), from €6,537 to €4,671
- Depreciation -€1,397
down €1,397 (-4.4%), from €31,492 to €30,095
- Financial charges +€1,208
up €1,208 (+45.8%), from €2,638 to €3,846
- Financial income +€1,048
up €1,048 (+473.8%), from €221 to €1,269
- Gross operating margin +€866
up €866 (+1.5%), from €59,143 to €60,009
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 | €337,605 | €440,091 | +€102,486 | +30.4% |
| Fixed assets | 21/28 | €246,416 | €382,684 | +€136,268 | +55.3% |
| Tangible fixed assets | 22/27 | €246,416 | €382,684 | +€136,268 | +55.3% |
| Land and buildings | 22 | €230,155 | €349,685 | +€119,531 | +51.9% |
| Plant, machinery and equipment | 23 | €5,331 | €5,432 | +€100 | +1.9% |
| Furniture and vehicles | 24 | €10,930 | €27,567 | +€16,637 | +152.2% |
| Current assets | 29/58 | €91,188 | €57,407 | -€33,782 | -37.0% |
| Stocks and contracts in progress | 3 | €10,627 | €7,319 | -€3,308 | -31.1% |
| Stocks | 30/36 | €10,627 | €7,319 | -€3,308 | -31.1% |
| Amounts receivable within one year | 40/41 | €9,508 | €11,562 | +€2,054 | +21.6% |
| Trade receivables | 40 | €9,495 | €11,562 | +€2,068 | +21.8% |
| Other amounts receivable | 41 | €14 | - | -€14 | |
| Cash at bank and in hand | 54/58 | €68,941 | €37,435 | -€31,506 | -45.7% |
| Deferred charges and accrued income | 490/1 | €2,112 | €1,090 | -€1,021 | -48.4% |
| Total equity and liabilities | 10/49 | €337,605 | €440,091 | +€102,486 | +30.4% |
| Equity | 10/15 | €126,980 | €146,222 | +€19,242 | +15.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €101,980 | €121,222 | +€19,242 | +18.9% |
| Distributable reserves | 133 | €101,980 | €121,222 | +€19,242 | +18.9% |
| Amounts payable | 17/49 | €210,625 | €293,868 | +€83,244 | +39.5% |
| Amounts payable after more than one year | 17 | €129,779 | €203,225 | +€73,446 | +56.6% |
| Financial debts | 170/4 | €129,779 | €203,225 | +€73,446 | +56.6% |
| Amounts payable within one year | 42/48 | €80,845 | €90,643 | +€9,798 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €20,584 | €30,928 | +€10,344 | +50.3% |
| Trade debts | 44 | €3,910 | €2,515 | -€1,395 | -35.7% |
| Suppliers | 440/4 | €3,910 | €2,515 | -€1,395 | -35.7% |
| Taxes, remuneration and social security | 45 | €12,414 | €9,527 | -€2,887 | -23.3% |
| Taxes | 450/3 | €8,864 | €5,977 | -€2,887 | -32.6% |
| Remuneration and social security | 454/9 | €3,550 | €3,550 | = | 0.0% |
| Other amounts payable | 47/48 | €43,938 | €47,674 | +€3,735 | +8.5% |
| Non-recurring operating income | 76A | - | €3,665 | +€3,665 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,492 | €30,095 | -€1,397 | -4.4% |
| Other operating charges | 640/8 | €3,387 | €3,422 | +€36 | +1.1% |
| Gross operating margin | 9900 | €59,143 | €60,009 | +€866 | +1.5% |
| Operating profit (loss) | 9901 | €24,265 | €26,491 | +€2,226 | +9.2% |
| Financial income | 75/76B | €221 | €1,269 | +€1,048 | +473.8% |
| Recurring financial income | 75 | €221 | €1,269 | +€1,048 | +473.8% |
| Financial charges | 65/66B | €2,638 | €3,846 | +€1,208 | +45.8% |
| Recurring financial charges | 65 | €2,638 | €3,846 | +€1,208 | +45.8% |
| Profit (loss) for the period before taxes | 9903 | €21,847 | €23,914 | +€2,066 | +9.5% |
| Income taxes | 67/77 | €6,537 | €4,671 | -€1,865 | -28.5% |
| Profit (loss) for the period | 9904 | €15,311 | €19,242 | +€3,932 | +25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,311 | €19,242 | +€3,932 | +25.7% |
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 6 October 2026 via checked.be.