ZICHTBAR: 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.
ZICHTBAR
Largest movements
- Tangible fixed assets -€41,676
down €41,676 (-7.1%), from €590,387 to €548,710
of which Land and buildings: -€33,641
- Cash +€10,237
up €10,237 (+9.8%), from €104,960 to €115,197
mainly Depreciation (+€47,872) and Net result for the year (+€18,114)
- Receivables within one year +€8,788
up €8,788 (+91.6%), from €9,598 to €18,385
of which Other amounts receivable: +€5,390
- Debts after one year -€26,831
down €26,831 (-6.7%), from €402,947 to €376,116
- Reserves +€18,114
up €18,114 (+7.4%), from €246,072 to €264,185
- Other debts -€14,247
down €14,247 (-22.0%), from €64,697 to €50,450
- Gross operating margin -€33,142
down €33,142 (-27.6%), from €120,262 to €87,120
- Taxes -€8,390
down €8,390 (-45.5%), from €18,423 to €10,033
- Financial charges -€1,553
down €1,553 (-13.7%), from €11,342 to €9,789
- Other operating charges -€1,549
down €1,549 (-53.7%), from €2,886 to €1,337
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 | €792,299 | €776,653 | -€15,646 | -2.0% |
| Fixed assets | 21/28 | €590,387 | €548,710 | -€41,676 | -7.1% |
| Tangible fixed assets | 22/27 | €590,387 | €548,710 | -€41,676 | -7.1% |
| Land and buildings | 22 | €569,671 | €536,030 | -€33,641 | -5.9% |
| Plant, machinery and equipment | 23 | €20,624 | €12,651 | -€7,973 | -38.7% |
| Furniture and vehicles | 24 | €92 | €30 | -€62 | -67.3% |
| Current assets | 29/58 | €201,912 | €227,943 | +€26,030 | +12.9% |
| Stocks and contracts in progress | 3 | €87,242 | €94,360 | +€7,118 | +8.2% |
| Stocks | 30/36 | €87,242 | €94,360 | +€7,118 | +8.2% |
| Amounts receivable within one year | 40/41 | €9,598 | €18,385 | +€8,788 | +91.6% |
| Trade receivables | 40 | €8,427 | €11,825 | +€3,397 | +40.3% |
| Other amounts receivable | 41 | €1,170 | €6,561 | +€5,390 | +460.5% |
| Cash at bank and in hand | 54/58 | €104,960 | €115,197 | +€10,237 | +9.8% |
| Deferred charges and accrued income | 490/1 | €112 | €0 | -€112 | -100.0% |
| Total equity and liabilities | 10/49 | €792,299 | €776,653 | -€15,646 | -2.0% |
| Equity | 10/15 | €271,072 | €289,185 | +€18,114 | +6.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €246,072 | €264,185 | +€18,114 | +7.4% |
| Distributable reserves | 133 | €246,072 | €264,185 | +€18,114 | +7.4% |
| Amounts payable | 17/49 | €521,227 | €487,468 | -€33,760 | -6.5% |
| Amounts payable after more than one year | 17 | €402,947 | €376,116 | -€26,831 | -6.7% |
| Financial debts | 170/4 | €402,947 | €376,116 | -€26,831 | -6.7% |
| Amounts payable within one year | 42/48 | €118,280 | €107,064 | -€11,216 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €31,094 | €26,831 | -€4,262 | -13.7% |
| Trade debts | 44 | €11,646 | €16,612 | +€4,967 | +42.7% |
| Suppliers | 440/4 | €11,646 | €16,612 | +€4,967 | +42.7% |
| Taxes, remuneration and social security | 45 | €10,844 | €13,170 | +€2,326 | +21.5% |
| Taxes | 450/3 | €10,844 | €11,520 | +€676 | +6.2% |
| Remuneration and social security | 454/9 | €0 | €1,650 | +€1,650 | |
| Other amounts payable | 47/48 | €64,697 | €50,450 | -€14,247 | -22.0% |
| Accrued charges and deferred income | 492/3 | - | €4,288 | +€4,288 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,752 | €47,872 | +€120 | +0.3% |
| Other operating charges | 640/8 | €2,886 | €1,337 | -€1,549 | -53.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €120,262 | €87,120 | -€33,142 | -27.6% |
| Operating profit (loss) | 9901 | €69,624 | €37,912 | -€31,712 | -45.5% |
| Financial income | 75/76B | €700 | €23 | -€677 | -96.7% |
| Recurring financial income | 75 | €700 | €23 | -€677 | -96.7% |
| Financial charges | 65/66B | €11,342 | €9,789 | -€1,553 | -13.7% |
| Recurring financial charges | 65 | €11,342 | €9,789 | -€1,553 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €58,982 | €28,147 | -€30,836 | -52.3% |
| Income taxes | 67/77 | €18,423 | €10,033 | -€8,390 | -45.5% |
| Profit (loss) for the period | 9904 | €40,559 | €18,114 | -€22,446 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,559 | €18,114 | -€22,446 | -55.3% |
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.