130R: what changed
Two fiscal 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.
130R
Largest movements
- Cash -€258,781
down €258,781 (-56.0%), from €461,985 to €203,205
mainly Contributions, distributions and other (-€172,470) and Net result for the year (-€114,965)
- Stocks and contracts +€81,682
up €81,682 (+156.1%), from €52,314 to €133,996
of which Contracts in progress: +€81,682
- Current investments -€80,591
down €80,591 (-80.2%), from €100,452 to €19,861
- Receivables within one year +€57,685
up €57,685 (+39.6%), from €145,634 to €203,319
of which Other amounts receivable: +€41,203
- Reserves -€172,470
down €172,470 (-26.0%), from €664,066 to €491,597
- Profit (loss) carried forward -€114,965
down €114,965, from €168 to -€114,797
- Other debts +€97,542
up €97,542 (+130.2%), from €74,928 to €172,470
- Trade debts -€8,660
down €8,660 (-73.0%), from €11,870 to €3,209
- Gross operating margin -€232,938
down €232,938, from €212,637 to -€20,301
- Taxes -€44,603
down €44,603 (-99.6%), from €44,766 to €164
- Write-downs +€25,262
up €25,262 (+40.4%), from €62,571 to €87,833
- Financial income -€6,412
down €6,412 (-71.4%), from €8,980 to €2,568
- Financial charges +€2,587
up €2,587 (+62.8%), from €4,119 to €6,706
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.
Cash bridge derived
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 | €766,535 | €567,380 | -€199,155 | -26.0% |
| Fixed assets | 21/28 | €2,419 | €4,380 | +€1,961 | +81.1% |
| Tangible fixed assets | 22/27 | €1,035 | €2,990 | +€1,955 | +188.9% |
| Plant, machinery and equipment | 23 | €1,035 | €2,990 | +€1,955 | +188.9% |
| Financial fixed assets | 28 | €1,384 | €1,390 | +€6 | +0.4% |
| Current assets | 29/58 | €764,116 | €563,000 | -€201,116 | -26.3% |
| Stocks and contracts in progress | 3 | €52,314 | €133,996 | +€81,682 | +156.1% |
| Stocks | 30/36 | €1,000 | €1,000 | = | 0.0% |
| Contracts in progress | 37 | €51,314 | €132,996 | +€81,682 | +159.2% |
| Amounts receivable within one year | 40/41 | €145,634 | €203,319 | +€57,685 | +39.6% |
| Trade receivables | 40 | €128,090 | €144,572 | +€16,482 | +12.9% |
| Other amounts receivable | 41 | €17,544 | €58,747 | +€41,203 | +234.9% |
| Current investments | 50/53 | €100,452 | €19,861 | -€80,591 | -80.2% |
| Cash at bank and in hand | 54/58 | €461,985 | €203,205 | -€258,781 | -56.0% |
| Deferred charges and accrued income | 490/1 | €3,730 | €2,619 | -€1,112 | -29.8% |
| Total equity and liabilities | 10/49 | €766,535 | €567,380 | -€199,155 | -26.0% |
| Equity | 10/15 | €676,634 | €389,200 | -€287,435 | -42.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €664,066 | €491,597 | -€172,470 | -26.0% |
| Distributable reserves | 133 | €664,066 | €491,597 | -€172,470 | -26.0% |
| Profit (loss) carried forward | 14 | €168 | -€114,797 | -€114,965 | |
| Amounts payable | 17/49 | €89,901 | €178,181 | +€88,280 | +98.2% |
| Amounts payable within one year | 42/48 | €89,367 | €178,181 | +€88,814 | +99.4% |
| Financial debts | 43 | €42 | €38 | -€4 | -10.1% |
| Credit institutions | 430/8 | €42 | €38 | -€4 | -10.1% |
| Trade debts | 44 | €11,870 | €3,209 | -€8,660 | -73.0% |
| Suppliers | 440/4 | €11,870 | €3,209 | -€8,660 | -73.0% |
| Taxes, remuneration and social security | 45 | €2,527 | €2,464 | -€63 | -2.5% |
| Taxes | 450/3 | €2,527 | €2,464 | -€63 | -2.5% |
| Other amounts payable | 47/48 | €74,928 | €172,470 | +€97,542 | +130.2% |
| Accrued charges and deferred income | 492/3 | €534 | €0 | -€534 | -100.0% |
| Non-recurring operating income | 76A | €55,132 | €0 | -€55,132 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,392 | €1,625 | +€233 | +16.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €62,571 | €87,833 | +€25,262 | +40.4% |
| Other operating charges | 640/8 | €1,239 | €903 | -€335 | -27.1% |
| Gross operating margin | 9900 | €212,637 | -€20,301 | -€232,938 | |
| Operating profit (loss) | 9901 | €147,436 | -€110,663 | -€258,099 | |
| Financial income | 75/76B | €8,980 | €2,568 | -€6,412 | -71.4% |
| Recurring financial income | 75 | €8,980 | €2,568 | -€6,412 | -71.4% |
| Financial charges | 65/66B | €4,119 | €6,706 | +€2,587 | +62.8% |
| Recurring financial charges | 65 | €4,119 | €6,706 | +€2,587 | +62.8% |
| Profit (loss) for the period before taxes | 9903 | €152,296 | -€114,801 | -€267,098 | |
| Income taxes | 67/77 | €44,766 | €164 | -€44,603 | -99.6% |
| Profit (loss) for the period | 9904 | €107,530 | -€114,965 | -€222,495 | |
| Profit (loss) for the period to be appropriated | 9905 | €107,530 | -€114,965 | -€222,495 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.