RULES: 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.
RULES
Largest movements
- Financial fixed assets +€224,914
up €224,914 (+12.3%), from €1.8m to €2.1m
- Cash -€51,179
down €51,179 (-81.4%), from €62,882 to €11,703
mainly Investment in fixed assets (net) (-€224,914) and Trade debts (-€8,200)
- Tangible fixed assets -€38,666
down €38,666 (-5.4%), from €721,665 to €682,999
of which Land and buildings: -€20,021
- Debts after one year +€140,000
up €140,000 (+5.3%), from €2.7m to €2.8m
- Gross operating margin +€31,451
up €31,451, from -€30,863 to €588
- Financial income +€1,559
up €1,559 (+3.7%), from €41,836 to €43,395
- Depreciation +€923
up €923 (+2.4%), from €37,743 to €38,666
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 | €2,683,143 | €2,819,530 | +€136,387 | +5.1% |
| Fixed assets | 21/28 | €2,555,377 | €2,741,625 | +€186,248 | +7.3% |
| Tangible fixed assets | 22/27 | €721,665 | €682,999 | -€38,666 | -5.4% |
| Land and buildings | 22 | €646,267 | €626,246 | -€20,021 | -3.1% |
| Furniture and vehicles | 24 | €75,398 | €56,753 | -€18,645 | -24.7% |
| Financial fixed assets | 28 | €1,833,712 | €2,058,627 | +€224,914 | +12.3% |
| Current assets | 29/58 | €127,766 | €77,905 | -€49,861 | -39.0% |
| Amounts receivable within one year | 40/41 | €33,189 | €33,669 | +€480 | +1.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €33,189 | €33,669 | +€480 | +1.4% |
| Cash at bank and in hand | 54/58 | €62,882 | €11,703 | -€51,179 | -81.4% |
| Deferred charges and accrued income | 490/1 | €31,695 | €32,533 | +€838 | +2.6% |
| Total equity and liabilities | 10/49 | €2,683,143 | €2,819,530 | +€136,387 | +5.1% |
| Equity | 10/15 | €9,683 | €11,190 | +€1,507 | +15.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€90,317 | -€88,810 | +€1,507 | +1.7% |
| Amounts payable | 17/49 | €2,673,461 | €2,808,341 | +€134,880 | +5.0% |
| Amounts payable after more than one year | 17 | €2,660,000 | €2,800,000 | +€140,000 | +5.3% |
| Financial debts | 170/4 | €2,660,000 | €2,800,000 | +€140,000 | +5.3% |
| Amounts payable within one year | 42/48 | €13,061 | €8,341 | -€4,720 | -36.1% |
| Trade debts | 44 | €11,901 | €3,701 | -€8,200 | -68.9% |
| Suppliers | 440/4 | €11,901 | €3,701 | -€8,200 | -68.9% |
| Taxes, remuneration and social security | 45 | €341 | €312 | -€30 | -8.7% |
| Taxes | 450/3 | €341 | €312 | -€30 | -8.7% |
| Other amounts payable | 47/48 | €818 | €4,328 | +€3,509 | +429% |
| Accrued charges and deferred income | 492/3 | €400 | €0 | -€400 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,743 | €38,666 | +€923 | +2.4% |
| Other operating charges | 640/8 | €3,719 | €3,452 | -€267 | -7.2% |
| Gross operating margin | 9900 | -€30,863 | €588 | +€31,451 | |
| Operating profit (loss) | 9901 | -€72,326 | -€41,531 | +€30,795 | +42.6% |
| Financial income | 75/76B | €41,836 | €43,395 | +€1,559 | +3.7% |
| Recurring financial income | 75 | €41,836 | €43,395 | +€1,559 | +3.7% |
| Financial charges | 65/66B | €123 | €45 | -€78 | -63.4% |
| Recurring financial charges | 65 | €123 | €45 | -€78 | -63.4% |
| Profit (loss) for the period before taxes | 9903 | -€30,613 | €1,819 | +€32,432 | |
| Income taxes | 67/77 | €341 | €312 | -€30 | -8.7% |
| Profit (loss) for the period | 9904 | -€30,955 | €1,507 | +€32,462 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,955 | €1,507 | +€32,462 |
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 24 October 2026 via checked.be.