MAJOR: what changed
MAJOR
Largest movements
- Receivables within one year +€29,909
up €29,909 (+874%), from €3,421 to €33,330
of which Trade receivables: +€29,625
- Tangible fixed assets -€24,640
down €24,640 (-15.1%), from €162,825 to €138,185
of which Land and buildings: -€20,145
- Cash -€2,070
down €2,070 (-14.4%), from €14,376 to €12,306
mainly Receivables within one year (-€29,909) and Debts after one year (-€8,664)
- Profit (loss) carried forward +€11,105
up €11,105 (+7.6%), from €147,040 to €158,145
- Debts after one year -€8,664
down €8,664 (-43.2%), from €20,042 to €11,378
- Gross operating margin +€32,095
up €32,095 (+85.1%), from €37,735 to €69,829
- Write-downs +€19,750
new in 2025: €19,750
- Taxes +€3,136
up €3,136 (+542%), from €579 to €3,715
- Financial charges -€1,094
down €1,094 (-41.0%), from €2,669 to €1,575
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €183,431 | €186,692 | +€3,261 | +1.8% |
| Fixed assets | 21/28 | €162,825 | €138,185 | -€24,640 | -15.1% |
| Tangible fixed assets | 22/27 | €162,825 | €138,185 | -€24,640 | -15.1% |
| Land and buildings | 22 | €112,158 | €92,012 | -€20,145 | -18.0% |
| Plant, machinery and equipment | 23 | €50,668 | €46,173 | -€4,495 | -8.9% |
| Current assets | 29/58 | €20,605 | €48,506 | +€27,901 | +135% |
| Amounts receivable within one year | 40/41 | €3,421 | €33,330 | +€29,909 | +874% |
| Trade receivables | 40 | - | €29,625 | +€29,625 | |
| Other amounts receivable | 41 | €3,421 | €3,706 | +€285 | +8.3% |
| Cash at bank and in hand | 54/58 | €14,376 | €12,306 | -€2,070 | -14.4% |
| Deferred charges and accrued income | 490/1 | €2,809 | €2,870 | +€61 | +2.2% |
| Total equity and liabilities | 10/49 | €183,431 | €186,692 | +€3,261 | +1.8% |
| Equity | 10/15 | €155,096 | €166,202 | +€11,105 | +7.2% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €147,040 | €158,145 | +€11,105 | +7.6% |
| Amounts payable | 17/49 | €28,334 | €20,490 | -€7,844 | -27.7% |
| Amounts payable after more than one year | 17 | €20,042 | €11,378 | -€8,664 | -43.2% |
| Financial debts | 170/4 | €20,042 | €11,378 | -€8,664 | -43.2% |
| Amounts payable within one year | 42/48 | €8,293 | €9,112 | +€820 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €8,293 | €8,664 | +€371 | +4.5% |
| Trade debts | 44 | - | €448 | +€448 | |
| Suppliers | 440/4 | - | €448 | +€448 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,713 | €24,640 | -€73 | -0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €19,750 | +€19,750 | |
| Other operating charges | 640/8 | €8,769 | €9,044 | +€275 | +3.1% |
| Gross operating margin | 9900 | €37,735 | €69,829 | +€32,095 | +85.1% |
| Operating profit (loss) | 9901 | €4,253 | €16,396 | +€12,143 | +286% |
| Financial charges | 65/66B | €2,669 | €1,575 | -€1,094 | -41.0% |
| Recurring financial charges | 65 | €2,669 | €1,575 | -€1,094 | -41.0% |
| Profit (loss) for the period before taxes | 9903 | €1,583 | €14,820 | +€13,237 | +836% |
| Income taxes | 67/77 | €579 | €3,715 | +€3,136 | +542% |
| Profit (loss) for the period | 9904 | €1,004 | €11,105 | +€10,101 | +1,006% |
| Profit (loss) for the period to be appropriated | 9905 | €1,004 | €11,105 | +€10,101 | +1,006% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.