Alternative B: 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.
Alternative B
Largest movements
- Tangible fixed assets -€22,184
down €22,184 (-5.0%), from €439,706 to €417,522
- Debts after one year -€20,572
down €20,572 (-5.5%), from €371,412 to €350,840
- Profit (loss) carried forward +€8,946
up €8,946 (+21.6%), from -€41,382 to -€32,436
- Other debts -€6,613
no longer reported in 2025 (was €6,613)
- Tax, wage and social debts -€6,505
no longer reported in 2025 (was €6,505)
of which Remuneration and social security: -€4,000
- Gross operating margin -€52,968
down €52,968 (-56.5%), from €93,806 to €40,837
- Financial charges +€1,944
up €1,944 (+26.5%), from €7,341 to €9,285
- Depreciation +€1,375
up €1,375 (+6.6%), from €20,808 to €22,184
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 | €446,291 | €419,549 | -€26,742 | -6.0% |
| Fixed assets | 21/28 | €440,796 | €418,612 | -€22,184 | -5.0% |
| Tangible fixed assets | 22/27 | €439,706 | €417,522 | -€22,184 | -5.0% |
| Land and buildings | 22 | €439,706 | €417,522 | -€22,184 | -5.0% |
| Financial fixed assets | 28 | €1,090 | €1,090 | = | 0.0% |
| Current assets | 29/58 | €5,495 | €937 | -€4,558 | -83.0% |
| Amounts receivable within one year | 40/41 | €5,175 | €840 | -€4,334 | -83.8% |
| Trade receivables | 40 | €5,175 | €381 | -€4,794 | -92.6% |
| Other amounts receivable | 41 | - | €460 | +€460 | |
| Cash at bank and in hand | 54/58 | €321 | €97 | -€224 | -69.8% |
| Total equity and liabilities | 10/49 | €446,291 | €419,549 | -€26,742 | -6.0% |
| Equity | 10/15 | €38,618 | €47,564 | +€8,946 | +23.2% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,382 | -€32,436 | +€8,946 | +21.6% |
| Amounts payable | 17/49 | €407,673 | €371,985 | -€35,688 | -8.8% |
| Amounts payable after more than one year | 17 | €371,412 | €350,840 | -€20,572 | -5.5% |
| Financial debts | 170/4 | €371,412 | €350,840 | -€20,572 | -5.5% |
| Amounts payable within one year | 42/48 | €36,261 | €21,145 | -€15,116 | -41.7% |
| Current portion of amounts payable after more than one year | 42 | €20,105 | €20,572 | +€467 | +2.3% |
| Trade debts | 44 | €3,038 | €573 | -€2,465 | -81.1% |
| Suppliers | 440/4 | €3,038 | €573 | -€2,465 | -81.1% |
| Taxes, remuneration and social security | 45 | €6,505 | - | -€6,505 | |
| Taxes | 450/3 | €2,505 | - | -€2,505 | |
| Remuneration and social security | 454/9 | €4,000 | - | -€4,000 | |
| Other amounts payable | 47/48 | €6,613 | - | -€6,613 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,808 | €22,184 | +€1,375 | +6.6% |
| Other operating charges | 640/8 | €172 | €238 | +€66 | +38.4% |
| Non-recurring operating charges | 66A | €41,483 | - | -€41,483 | |
| Gross operating margin | 9900 | €93,806 | €40,837 | -€52,968 | -56.5% |
| Operating profit (loss) | 9901 | €31,342 | €18,415 | -€12,927 | -41.2% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €7,341 | €9,285 | +€1,944 | +26.5% |
| Recurring financial charges | 65 | €7,341 | €9,285 | +€1,944 | +26.5% |
| Profit (loss) for the period before taxes | 9903 | €24,001 | €9,133 | -€14,868 | -61.9% |
| Income taxes | 67/77 | - | €187 | +€187 | |
| Profit (loss) for the period | 9904 | €24,001 | €8,946 | -€15,055 | -62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,001 | €8,946 | -€15,055 | -62.7% |
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 25 October 2026 via checked.be.