22: 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.
22
Largest movements
- Receivables within one year -€197,289
down €197,289 (-85.4%), from €231,025 to €33,735
of which Trade receivables: -€210,135
- Debts after one year -€179,657
down €179,657 (-44.3%), from €405,124 to €225,467
- Reserves -€47,351
down €47,351 (-26.2%), from €180,576 to €133,225
- Other debts +€19,223
up €19,223 (+3.7%), from €517,004 to €536,227
- Financial income -€201,160
down €201,160 (-95.3%), from €211,167 to €10,006
- Services and other goods +€15,537
new in 2025: €15,537
- Financial charges +€14,429
up €14,429 (+53.2%), from €27,137 to €41,566
- Depreciation -€2,895
down €2,895 (-100.0%), from €2,895 to €0
- Gross operating margin +€559
no longer reported in 2025 (was -€559)
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,226,761 | €1,031,642 | -€195,119 | -15.9% |
| Fixed assets | 21/28 | €979,548 | €979,548 | = | 0.0% |
| Financial fixed assets | 28 | €979,548 | €979,548 | = | 0.0% |
| Affiliated companies | 280/1 | - | €979,548 | +€979,548 | |
| Participating interests | 280 | - | €979,548 | +€979,548 | |
| Current assets | 29/58 | €247,213 | €52,094 | -€195,119 | -78.9% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €231,025 | €33,735 | -€197,289 | -85.4% |
| Trade receivables | 40 | €210,135 | €0 | -€210,135 | -100.0% |
| Other amounts receivable | 41 | €20,889 | €33,735 | +€12,846 | +61.5% |
| Cash at bank and in hand | 54/58 | €15,594 | €11,323 | -€4,271 | -27.4% |
| Deferred charges and accrued income | 490/1 | €594 | €7,035 | +€6,441 | +1083.7% |
| Total equity and liabilities | 10/49 | €1,226,761 | €1,031,642 | -€195,119 | -15.9% |
| Equity | 10/15 | €188,076 | €140,725 | -€47,351 | -25.2% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €180,576 | €133,225 | -€47,351 | -26.2% |
| Distributable reserves | 133 | €180,576 | €133,225 | -€47,351 | -26.2% |
| Amounts payable | 17/49 | €1,038,685 | €890,917 | -€147,768 | -14.2% |
| Amounts payable after more than one year | 17 | €405,124 | €225,467 | -€179,657 | -44.3% |
| Financial debts | 170/4 | €405,124 | €225,467 | -€179,657 | -44.3% |
| Credit institutions | 173 | - | €225,467 | +€225,467 | |
| Amounts payable within one year | 42/48 | €630,231 | €658,352 | +€28,121 | +4.5% |
| Current portion of amounts payable after more than one year | 42 | €113,227 | €121,110 | +€7,882 | +7.0% |
| Trade debts | 44 | - | €1,016 | +€1,016 | |
| Suppliers | 440/4 | - | €1,016 | +€1,016 | |
| Other amounts payable | 47/48 | €517,004 | €536,227 | +€19,223 | +3.7% |
| Accrued charges and deferred income | 492/3 | €3,330 | €7,098 | +€3,768 | +113.2% |
| Operating charges | 60/66A | - | €15,791 | +€15,791 | |
| Services and other goods | 61 | - | €15,537 | +€15,537 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,895 | €0 | -€2,895 | -100.0% |
| Other operating charges | 640/8 | - | €254 | +€254 | |
| Gross operating margin | 9900 | -€559 | - | +€559 | |
| Operating profit (loss) | 9901 | -€3,454 | -€15,791 | -€12,337 | -357.1% |
| Financial income | 75/76B | €211,167 | €10,006 | -€201,160 | -95.3% |
| Recurring financial income | 75 | €211,167 | €10,006 | -€201,160 | -95.3% |
| Income from financial fixed assets | 750 | - | €0 | = | |
| Income from current assets | 751 | - | €10,006 | +€10,006 | |
| Financial charges | 65/66B | €27,137 | €41,566 | +€14,429 | +53.2% |
| Recurring financial charges | 65 | €27,137 | €41,566 | +€14,429 | +53.2% |
| Debt charges | 650 | - | €41,206 | +€41,206 | |
| Other financial charges | 652/9 | - | €361 | +€361 | |
| Profit (loss) for the period before taxes | 9903 | €180,576 | -€47,351 | -€227,926 | |
| Profit (loss) for the period | 9904 | €180,576 | -€47,351 | -€227,926 | |
| Profit (loss) for the period to be appropriated | 9905 | €180,576 | -€47,351 | -€227,926 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.