FACING: 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.
FACING
Largest movements
- Tangible fixed assets -€32,122
down €32,122 (-31.3%), from €102,635 to €70,513
of which Furniture and vehicles: -€28,460
- Current investments -€26,976
down €26,976 (-6.1%), from €442,749 to €415,774
- Cash +€22,795
up €22,795 (+17.0%), from €134,275 to €157,070
mainly Net result for the year (+€363,554) and Other debts (+€97,018)
- Receivables within one year +€9,524
up €9,524 (+219%), from €4,349 to €13,873
of which Other amounts receivable: +€10,500
- Reserves -€128,347
down €128,347 (-20.0%), from €641,772 to €513,426
- Other debts +€97,018
up €97,018 (+21,008%), from €462 to €97,480
- Financial income +€54,096
up €54,096 (+1,006%), from €5,379 to €59,475
- Other operating charges -€13,362
down €13,362 (-95.3%), from €14,018 to €657
- Depreciation +€9,273
up €9,273 (+37.5%), from €24,708 to €33,981
- Gross operating margin +€6,123
up €6,123 (+1.4%), from €441,816 to €447,939
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 | €684,009 | €658,499 | -€25,510 | -3.7% |
| Fixed assets | 21/28 | €102,635 | €70,513 | -€32,122 | -31.3% |
| Tangible fixed assets | 22/27 | €102,635 | €70,513 | -€32,122 | -31.3% |
| Plant, machinery and equipment | 23 | €10,293 | €6,631 | -€3,662 | -35.6% |
| Furniture and vehicles | 24 | €92,342 | €63,882 | -€28,460 | -30.8% |
| Current assets | 29/58 | €581,374 | €587,986 | +€6,612 | +1.1% |
| Amounts receivable within one year | 40/41 | €4,349 | €13,873 | +€9,524 | +219% |
| Trade receivables | 40 | €976 | €0 | -€976 | -100% |
| Other amounts receivable | 41 | €3,373 | €13,873 | +€10,500 | +311% |
| Current investments | 50/53 | €442,749 | €415,774 | -€26,976 | -6.1% |
| Cash at bank and in hand | 54/58 | €134,275 | €157,070 | +€22,795 | +17.0% |
| Deferred charges and accrued income | 490/1 | €0 | €1,269 | +€1,269 | |
| Total equity and liabilities | 10/49 | €684,009 | €658,499 | -€25,510 | -3.7% |
| Equity | 10/15 | €647,772 | €519,426 | -€128,347 | -19.8% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €641,772 | €513,426 | -€128,347 | -20.0% |
| Distributable reserves | 133 | €641,772 | €513,426 | -€128,347 | -20.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €36,236 | €139,073 | +€102,837 | +284% |
| Amounts payable within one year | 42/48 | €36,236 | €139,073 | +€102,837 | +284% |
| Trade debts | 44 | €2,785 | €4,944 | +€2,159 | +77.5% |
| Suppliers | 440/4 | €2,785 | €4,944 | +€2,159 | +77.5% |
| Taxes, remuneration and social security | 45 | €32,989 | €36,649 | +€3,660 | +11.1% |
| Taxes | 450/3 | €32,989 | €36,649 | +€3,660 | +11.1% |
| Other amounts payable | 47/48 | €462 | €97,480 | +€97,018 | +21,008% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,708 | €33,981 | +€9,273 | +37.5% |
| Other operating charges | 640/8 | €14,018 | €657 | -€13,362 | -95.3% |
| Gross operating margin | 9900 | €441,816 | €447,939 | +€6,123 | +1.4% |
| Operating profit (loss) | 9901 | €403,090 | €413,302 | +€10,212 | +2.5% |
| Financial income | 75/76B | €5,379 | €59,475 | +€54,096 | +1,006% |
| Recurring financial income | 75 | €5,379 | €59,475 | +€54,096 | +1,006% |
| Financial charges | 65/66B | €2,114 | €1,025 | -€1,089 | -51.5% |
| Recurring financial charges | 65 | €2,114 | €1,025 | -€1,089 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | €406,354 | €471,752 | +€65,397 | +16.1% |
| Income taxes | 67/77 | €107,944 | €108,198 | +€254 | +0.2% |
| Profit (loss) for the period | 9904 | €298,410 | €363,554 | +€65,143 | +21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €298,410 | €363,554 | +€65,143 | +21.8% |
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 20 October 2026 via checked.be.