ELEMENT 6-MOVING: 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.
ELEMENT 6-MOVING
Largest movements
- Tangible fixed assets +€71,086
up €71,086 (+28.1%), from €253,064 to €324,150
of which Other tangible fixed assets: +€86,347
- Receivables within one year -€10,944
down €10,944 (-55.6%), from €19,666 to €8,722
of which Trade receivables: -€8,818
- Cash -€9,204
down €9,204 (-55.5%), from €16,572 to €7,368
mainly Investment in fixed assets (net) (-€101,743) and Contributions, distributions and other (-€10,000)
- Debts after one year +€57,528
up €57,528 (+32.3%), from €178,044 to €235,572
- Profit (loss) carried forward -€13,098
down €13,098 (-21.0%), from €62,400 to €49,302
- Current portion of long-term debt +€8,584
up €8,584 (+36.6%), from €23,461 to €32,045
- Gross operating margin -€10,780
down €10,780 (-20.7%), from €52,006 to €41,226
- Depreciation +€5,205
up €5,205 (+20.5%), from €25,452 to €30,657
- Taxes -€2,652
down €2,652 (-44.9%), from €5,913 to €3,261
- Other operating charges -€2,095
down €2,095 (-62.1%), from €3,373 to €1,278
- Financial charges +€1,035
up €1,035 (+19.7%), from €5,267 to €6,302
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 | €290,534 | €341,541 | +€51,007 | +17.6% |
| Fixed assets | 21/28 | €253,064 | €324,150 | +€71,086 | +28.1% |
| Tangible fixed assets | 22/27 | €253,064 | €324,150 | +€71,086 | +28.1% |
| Land and buildings | 22 | €188,092 | €176,371 | -€11,721 | -6.2% |
| Plant, machinery and equipment | 23 | €17,248 | €14,382 | -€2,866 | -16.6% |
| Furniture and vehicles | 24 | €2,290 | €1,616 | -€674 | -29.4% |
| Other tangible fixed assets | 26 | €45,434 | €131,781 | +€86,347 | +190% |
| Current assets | 29/58 | €37,470 | €17,391 | -€20,079 | -53.6% |
| Amounts receivable within one year | 40/41 | €19,666 | €8,722 | -€10,944 | -55.6% |
| Trade receivables | 40 | €14,406 | €5,588 | -€8,818 | -61.2% |
| Other amounts receivable | 41 | €5,260 | €3,134 | -€2,126 | -40.4% |
| Cash at bank and in hand | 54/58 | €16,572 | €7,368 | -€9,204 | -55.5% |
| Deferred charges and accrued income | 490/1 | €1,232 | €1,301 | +€69 | +5.6% |
| Total equity and liabilities | 10/49 | €290,534 | €341,541 | +€51,007 | +17.6% |
| Equity | 10/15 | €80,900 | €67,802 | -€13,098 | -16.2% |
| Contributions | 10/11 | €18,500 | €18,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,400 | €49,302 | -€13,098 | -21.0% |
| Amounts payable | 17/49 | €209,634 | €273,739 | +€64,105 | +30.6% |
| Amounts payable after more than one year | 17 | €178,044 | €235,572 | +€57,528 | +32.3% |
| Financial debts | 170/4 | €178,044 | €235,572 | +€57,528 | +32.3% |
| Amounts payable within one year | 42/48 | €31,590 | €38,167 | +€6,577 | +20.8% |
| Current portion of amounts payable after more than one year | 42 | €23,461 | €32,045 | +€8,584 | +36.6% |
| Trade debts | 44 | €2,238 | €1,617 | -€621 | -27.7% |
| Suppliers | 440/4 | €2,238 | €1,617 | -€621 | -27.7% |
| Taxes, remuneration and social security | 45 | - | €286 | +€286 | |
| Taxes | 450/3 | - | €286 | +€286 | |
| Other amounts payable | 47/48 | €5,891 | €4,219 | -€1,672 | -28.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,452 | €30,657 | +€5,205 | +20.5% |
| Other operating charges | 640/8 | €3,373 | €1,278 | -€2,095 | -62.1% |
| Non-recurring operating charges | 66A | - | €2,827 | +€2,827 | |
| Gross operating margin | 9900 | €52,006 | €41,226 | -€10,780 | -20.7% |
| Operating profit (loss) | 9901 | €23,181 | €6,464 | -€16,717 | -72.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €5,267 | €6,302 | +€1,035 | +19.7% |
| Recurring financial charges | 65 | €5,267 | €6,302 | +€1,035 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | €17,914 | €163 | -€17,751 | -99.1% |
| Income taxes | 67/77 | €5,913 | €3,261 | -€2,652 | -44.9% |
| Profit (loss) for the period | 9904 | €12,001 | -€3,098 | -€15,099 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,001 | -€3,098 | -€15,099 |
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 22 October 2026 via checked.be.