ZONE A: 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.
ZONE A
Largest movements
- Tangible fixed assets -€128,169
down €128,169 (-1.8%), from €7.0m to €6.9m
of which Land and buildings: -€131,304
- Debts after one year -€80,719
down €80,719 (-4.7%), from €1.7m to €1.6m
- Gross operating margin -€54,576
down €54,576 (-22.5%), from €242,781 to €188,205
- Depreciation -€6,656
down €6,656 (-4.3%), from €153,603 to €146,947
- Financial charges +€2,615
up €2,615 (+6.4%), from €40,558 to €43,173
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 | €7,246,273 | €7,116,488 | -€129,786 | -1.8% |
| Fixed assets | 21/28 | €7,043,206 | €6,915,037 | -€128,169 | -1.8% |
| Tangible fixed assets | 22/27 | €7,043,206 | €6,915,037 | -€128,169 | -1.8% |
| Land and buildings | 22 | €7,034,145 | €6,902,841 | -€131,304 | -1.9% |
| Plant, machinery and equipment | 23 | €1,322 | €3,178 | +€1,856 | +140% |
| Furniture and vehicles | 24 | €7,739 | €9,017 | +€1,279 | +16.5% |
| Current assets | 29/58 | €203,068 | €201,451 | -€1,616 | -0.8% |
| Cash at bank and in hand | 54/58 | €198,794 | €197,384 | -€1,410 | -0.7% |
| Deferred charges and accrued income | 490/1 | €4,273 | €4,067 | -€206 | -4.8% |
| Total equity and liabilities | 10/49 | €7,246,273 | €7,116,488 | -€129,786 | -1.8% |
| Equity | 10/15 | €5,231,511 | €5,216,944 | -€14,568 | -0.3% |
| Contributions | 10/11 | €5,076,000 | €5,076,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€95,049 | -€90,326 | +€4,723 | +5.0% |
| Investment grants | 15 | €250,560 | €231,270 | -€19,290 | -7.7% |
| Amounts payable | 17/49 | €2,014,762 | €1,899,544 | -€115,218 | -5.7% |
| Amounts payable after more than one year | 17 | €1,721,372 | €1,640,653 | -€80,719 | -4.7% |
| Financial debts | 170/4 | €1,721,372 | €1,640,653 | -€80,719 | -4.7% |
| Amounts payable within one year | 42/48 | €293,390 | €258,891 | -€34,499 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €107,250 | €119,926 | +€12,675 | +11.8% |
| Trade debts | 44 | €8,631 | €17,164 | +€8,533 | +98.9% |
| Suppliers | 440/4 | €8,631 | €17,164 | +€8,533 | +98.9% |
| Taxes, remuneration and social security | 45 | €752 | €1,492 | +€740 | +98.5% |
| Taxes | 450/3 | €752 | €1,492 | +€740 | +98.5% |
| Other amounts payable | 47/48 | €176,757 | €120,309 | -€56,448 | -31.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153,603 | €146,947 | -€6,656 | -4.3% |
| Other operating charges | 640/8 | €11,772 | €11,912 | +€140 | +1.2% |
| Gross operating margin | 9900 | €242,781 | €188,205 | -€54,576 | -22.5% |
| Operating profit (loss) | 9901 | €77,406 | €29,346 | -€48,060 | -62.1% |
| Financial income | 75/76B | €19,290 | €19,290 | = | 0.0% |
| Recurring financial income | 75 | €19,290 | €19,290 | = | 0.0% |
| Financial charges | 65/66B | €40,558 | €43,173 | +€2,615 | +6.4% |
| Recurring financial charges | 65 | €40,558 | €43,173 | +€2,615 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €56,137 | €5,463 | -€50,674 | -90.3% |
| Income taxes | 67/77 | €752 | €740 | -€11 | -1.5% |
| Profit (loss) for the period | 9904 | €55,386 | €4,723 | -€50,663 | -91.5% |
| Profit (loss) for the period to be appropriated | 9905 | €55,386 | €4,723 | -€50,663 | -91.5% |
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.