PLUS: what changed
PLUS
Largest movements
- Stocks and contracts -€8,490
down €8,490 (-17.0%), from €49,810 to €41,320
- Cash -€5,210
down €5,210 (-70.3%), from €7,411 to €2,201
mainly Debts after one year (-€11,333) and Net result for the year (-€9,348)
- Tangible fixed assets -€4,767
down €4,767 (-4.3%), from €111,499 to €106,732
of which Land and buildings: -€4,415
- Debts after one year -€11,333
down €11,333 (-9.4%), from €120,253 to €108,920
- Profit (loss) carried forward -€9,348
down €9,348, from €3,315 to -€6,033
- Short-term financial debts +€6,725
up €6,725 (+35.2%), from €19,107 to €25,833
of which Credit institutions: +€6,725
- Trade debts -€5,167
down €5,167 (-79.5%), from €6,499 to €1,333
- Tax, wage and social debts -€2,276
down €2,276 (-60.6%), from €3,756 to €1,480
- Turnover +€101,360
new in 2025: €101,360
- Purchases and services +€91,815
new in 2025: €91,815
- Gross operating margin -€9,616
down €9,616 (-49.9%), from €19,262 to €9,645
- Financial income -€6,798
down €6,798 (-89.4%), from €7,600 to €802
- Depreciation -€4,172
down €4,172 (-46.7%), from €8,938 to €4,767
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 | €177,330 | €157,159 | -€20,171 | -11.4% |
| Fixed assets | 21/28 | €111,499 | €106,732 | -€4,767 | -4.3% |
| Tangible fixed assets | 22/27 | €111,499 | €106,732 | -€4,767 | -4.3% |
| Land and buildings | 22 | €109,532 | €105,117 | -€4,415 | -4.0% |
| Plant, machinery and equipment | 23 | €1,966 | €1,614 | -€352 | -17.9% |
| Current assets | 29/58 | €65,832 | €50,428 | -€15,404 | -23.4% |
| Stocks and contracts in progress | 3 | €49,810 | €41,320 | -€8,490 | -17.0% |
| Stocks | 30/36 | €49,810 | €41,320 | -€8,490 | -17.0% |
| Amounts receivable within one year | 40/41 | €8,610 | €6,906 | -€1,704 | -19.8% |
| Trade receivables | 40 | €8,022 | €5,657 | -€2,365 | -29.5% |
| Other amounts receivable | 41 | €589 | €1,250 | +€661 | +112% |
| Cash at bank and in hand | 54/58 | €7,411 | €2,201 | -€5,210 | -70.3% |
| Total equity and liabilities | 10/49 | €177,330 | €157,159 | -€20,171 | -11.4% |
| Equity | 10/15 | €23,766 | €14,418 | -€9,348 | -39.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,315 | -€6,033 | -€9,348 | |
| Amounts payable | 17/49 | €153,564 | €142,741 | -€10,823 | -7.0% |
| Amounts payable after more than one year | 17 | €120,253 | €108,920 | -€11,333 | -9.4% |
| Financial debts | 170/4 | €120,253 | €108,920 | -€11,333 | -9.4% |
| Amounts payable within one year | 42/48 | €33,311 | €33,821 | +€510 | +1.5% |
| Financial debts | 43 | €19,107 | €25,833 | +€6,725 | +35.2% |
| Credit institutions | 430/8 | €4,107 | €10,833 | +€6,725 | +164% |
| Other loans | 439 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €6,499 | €1,333 | -€5,167 | -79.5% |
| Suppliers | 440/4 | €6,499 | €1,333 | -€5,167 | -79.5% |
| Taxes, remuneration and social security | 45 | €3,756 | €1,480 | -€2,276 | -60.6% |
| Taxes | 450/3 | €3,756 | €1,480 | -€2,276 | -60.6% |
| Other amounts payable | 47/48 | €3,949 | €5,176 | +€1,227 | +31.1% |
| Turnover | 70 | - | €101,360 | +€101,360 | |
| Non-recurring operating income | 76A | €1,186 | - | -€1,186 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €91,815 | +€91,815 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,938 | €4,767 | -€4,172 | -46.7% |
| Other operating charges | 640/8 | €3,486 | €2,325 | -€1,161 | -33.3% |
| Non-recurring operating charges | 66A | - | €351 | +€351 | |
| Gross operating margin | 9900 | €19,262 | €9,645 | -€9,616 | -49.9% |
| Operating profit (loss) | 9901 | €6,837 | €2,202 | -€4,635 | -67.8% |
| Financial income | 75/76B | €7,600 | €802 | -€6,798 | -89.4% |
| Recurring financial income | 75 | €7,600 | €802 | -€6,798 | -89.4% |
| Financial charges | 65/66B | €11,652 | €12,211 | +€559 | +4.8% |
| Recurring financial charges | 65 | €11,652 | €12,211 | +€559 | +4.8% |
| Profit (loss) for the period before taxes | 9903 | €2,785 | -€9,207 | -€11,992 | |
| Income taxes | 67/77 | €1,288 | €141 | -€1,147 | -89.0% |
| Profit (loss) for the period | 9904 | €1,497 | -€9,348 | -€10,845 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,497 | -€9,348 | -€10,845 |
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 3 November 2026 via checked.be.