WE PRINT: 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.
WE PRINT
Largest movements
- Cash +€12,651
up €12,651 (+19.1%), from €66,085 to €78,736
mainly Net result for the year (+€13,345) and Depreciation (+€9,275)
- Tangible fixed assets -€9,275
down €9,275 (-9.2%), from €100,788 to €91,513
of which Land and buildings: -€6,554
- Reserves +€38,141
up €38,141 (+290%), from €13,157 to €51,298
of which Distributable reserves: +€38,141
- Profit (loss) carried forward -€24,796
down €24,796 (-74.3%), from €33,350 to €8,555
- Trade debts -€16,138
down €16,138 (-62.3%), from €25,898 to €9,760
- Accrued charges and deferred income -€3,846
down €3,846 (-43.4%), from €8,868 to €5,023
- Short-term financial debts +€3,364
new in 2025: €3,364
- Gross operating margin -€9,105
down €9,105 (-21.5%), from €42,396 to €33,290
- Depreciation +€1,762
up €1,762 (+23.4%), from €7,514 to €9,275
- Financial charges +€1,675
up €1,675 (+130%), from €1,287 to €2,962
- Taxes +€653
up €653 (+17.5%), from €3,728 to €4,381
- Other operating charges +€452
up €452 (+15.6%), from €2,893 to €3,345
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 | €183,053 | €184,742 | +€1,688 | +0.9% |
| Fixed assets | 21/28 | €100,838 | €91,563 | -€9,275 | -9.2% |
| Tangible fixed assets | 22/27 | €100,788 | €91,513 | -€9,275 | -9.2% |
| Land and buildings | 22 | €89,540 | €82,986 | -€6,554 | -7.3% |
| Plant, machinery and equipment | 23 | €9,918 | €7,877 | -€2,041 | -20.6% |
| Furniture and vehicles | 24 | €1,331 | €650 | -€680 | -51.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €82,215 | €93,179 | +€10,963 | +13.3% |
| Stocks and contracts in progress | 3 | €1,550 | €1,250 | -€300 | -19.4% |
| Stocks | 30/36 | €1,550 | €1,250 | -€300 | -19.4% |
| Amounts receivable within one year | 40/41 | €14,096 | €12,938 | -€1,158 | -8.2% |
| Trade receivables | 40 | €7,819 | €7,420 | -€399 | -5.1% |
| Other amounts receivable | 41 | €6,277 | €5,518 | -€759 | -12.1% |
| Current investments | 50/53 | €255 | €255 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €66,085 | €78,736 | +€12,651 | +19.1% |
| Deferred charges and accrued income | 490/1 | €229 | - | -€229 | |
| Total equity and liabilities | 10/49 | €183,053 | €184,742 | +€1,688 | +0.9% |
| Equity | 10/15 | €65,099 | €78,445 | +€13,345 | +20.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €13,157 | €51,298 | +€38,141 | +290% |
| Tax-exempt reserves | 132 | €11,298 | €11,298 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €40,000 | +€38,141 | +2,051% |
| Profit (loss) carried forward | 14 | €33,350 | €8,555 | -€24,796 | -74.3% |
| Amounts payable | 17/49 | €117,954 | €106,297 | -€11,657 | -9.9% |
| Amounts payable after more than one year | 17 | €79,961 | €82,360 | +€2,399 | +3.0% |
| Financial debts | 170/4 | €79,961 | €82,360 | +€2,399 | +3.0% |
| Amounts payable within one year | 42/48 | €29,124 | €18,914 | -€10,210 | -35.1% |
| Financial debts | 43 | - | €3,364 | +€3,364 | |
| Credit institutions | 430/8 | - | €3,364 | +€3,364 | |
| Trade debts | 44 | €25,898 | €9,760 | -€16,138 | -62.3% |
| Suppliers | 440/4 | €25,898 | €9,760 | -€16,138 | -62.3% |
| Taxes, remuneration and social security | 45 | €2,195 | €4,758 | +€2,563 | +117% |
| Taxes | 450/3 | €2,195 | €4,758 | +€2,563 | +117% |
| Other amounts payable | 47/48 | €1,031 | €1,031 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €8,868 | €5,023 | -€3,846 | -43.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,514 | €9,275 | +€1,762 | +23.4% |
| Other operating charges | 640/8 | €2,893 | €3,345 | +€452 | +15.6% |
| Gross operating margin | 9900 | €42,396 | €33,290 | -€9,105 | -21.5% |
| Operating profit (loss) | 9901 | €31,989 | €20,670 | -€11,319 | -35.4% |
| Financial income | 75/76B | €431 | €18 | -€413 | -95.8% |
| Recurring financial income | 75 | €431 | €18 | -€413 | -95.8% |
| Financial charges | 65/66B | €1,287 | €2,962 | +€1,675 | +130% |
| Recurring financial charges | 65 | €1,287 | €2,962 | +€1,675 | +130% |
| Profit (loss) for the period before taxes | 9903 | €31,133 | €17,726 | -€13,407 | -43.1% |
| Income taxes | 67/77 | €3,728 | €4,381 | +€653 | +17.5% |
| Profit (loss) for the period | 9904 | €27,405 | €13,345 | -€14,060 | -51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,405 | €13,345 | -€14,060 | -51.3% |
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.