3 X: 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.
3 X
Largest movements
- Tangible fixed assets +€245,804
up €245,804 (+84.6%), from €290,401 to €536,205
of which Land and buildings: +€346,326
- Cash +€55,480
up €55,480 (+1227.4%), from €4,520 to €60,000
mainly Debts after one year (+€177,000) and Net result for the year (+€88,870)
- Current investments +€19,505
up €19,505 (+23.7%), from €82,419 to €101,924
- Receivables within one year -€12,254
down €12,254 (-42.2%), from €29,052 to €16,798
of which Other amounts receivable: -€15,384
- Debts after one year +€177,000
new in 2025: €177,000
- Reserves +€88,870
up €88,870 (+26.3%), from €337,907 to €426,777
of which Distributable reserves: +€88,870
- Other debts +€27,749
new in 2025: €27,749
- Accrued charges and deferred income +€7,475
new in 2025: €7,475
- Trade debts +€7,387
up €7,387 (+34.0%), from €21,733 to €29,120
- Gross operating margin +€73,626
up €73,626 (+70.4%), from €104,521 to €178,146
- Depreciation +€45,156
up €45,156 (+304.6%), from €14,825 to €59,981
- Financial charges +€7,284
up €7,284 (+176.7%), from €4,122 to €11,406
- Financial income +€5,442
up €5,442 (+99.7%), from €5,458 to €10,900
- Other operating charges +€3,929
up €3,929 (+155.6%), from €2,525 to €6,454
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 | €410,699 | €717,596 | +€306,897 | +74.7% |
| Fixed assets | 21/28 | €290,909 | €536,705 | +€245,797 | +84.5% |
| Tangible fixed assets | 22/27 | €290,401 | €536,205 | +€245,804 | +84.6% |
| Land and buildings | 22 | €91,600 | €437,926 | +€346,326 | +378.1% |
| Plant, machinery and equipment | 23 | €2,550 | €1,733 | -€817 | -32.0% |
| Furniture and vehicles | 24 | €13,718 | €84,697 | +€70,980 | +517.4% |
| Other tangible fixed assets | 26 | €182,535 | €11,850 | -€170,685 | -93.5% |
| Financial fixed assets | 28 | €508 | €500 | -€8 | -1.5% |
| Current assets | 29/58 | €119,790 | €180,890 | +€61,100 | +51.0% |
| Amounts receivable within one year | 40/41 | €29,052 | €16,798 | -€12,254 | -42.2% |
| Trade receivables | 40 | €3,241 | €6,372 | +€3,131 | +96.6% |
| Other amounts receivable | 41 | €25,811 | €10,427 | -€15,384 | -59.6% |
| Current investments | 50/53 | €82,419 | €101,924 | +€19,505 | +23.7% |
| Cash at bank and in hand | 54/58 | €4,520 | €60,000 | +€55,480 | +1227.4% |
| Deferred charges and accrued income | 490/1 | €3,799 | €2,168 | -€1,631 | -42.9% |
| Total equity and liabilities | 10/49 | €410,699 | €717,596 | +€306,897 | +74.7% |
| Equity | 10/15 | €351,477 | €440,347 | +€88,870 | +25.3% |
| Contributions | 10/11 | €12,226 | €12,226 | = | 0.0% |
| Reserves | 13 | €337,907 | €426,777 | +€88,870 | +26.3% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €319,157 | €408,027 | +€88,870 | +27.8% |
| Profit (loss) carried forward | 14 | €1,343 | €1,343 | = | 0.0% |
| Amounts payable | 17/49 | €59,222 | €277,249 | +€218,027 | +368.1% |
| Amounts payable after more than one year | 17 | - | €177,000 | +€177,000 | |
| Other amounts payable | 178/9 | - | €177,000 | +€177,000 | |
| Amounts payable within one year | 42/48 | €59,222 | €92,774 | +€33,552 | +56.7% |
| Financial debts | 43 | €13,932 | €8,446 | -€5,486 | -39.4% |
| Credit institutions | 430/8 | €13,932 | €8,446 | -€5,486 | -39.4% |
| Trade debts | 44 | €21,733 | €29,120 | +€7,387 | +34.0% |
| Suppliers | 440/4 | €21,733 | €29,120 | +€7,387 | +34.0% |
| Taxes, remuneration and social security | 45 | €23,557 | €27,459 | +€3,902 | +16.6% |
| Taxes | 450/3 | €23,557 | €27,459 | +€3,902 | +16.6% |
| Other amounts payable | 47/48 | - | €27,749 | +€27,749 | |
| Accrued charges and deferred income | 492/3 | - | €7,475 | +€7,475 | |
| Non-recurring operating income | 76A | €185 | €155,978 | +€155,793 | +84171.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,825 | €59,981 | +€45,156 | +304.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | €191 | +€191 | |
| Other operating charges | 640/8 | €2,525 | €6,454 | +€3,929 | +155.6% |
| Gross operating margin | 9900 | €104,521 | €178,146 | +€73,626 | +70.4% |
| Operating profit (loss) | 9901 | €87,170 | €111,519 | +€24,350 | +27.9% |
| Financial income | 75/76B | €5,458 | €10,900 | +€5,442 | +99.7% |
| Recurring financial income | 75 | €5,458 | €10,900 | +€5,442 | +99.7% |
| Financial charges | 65/66B | €4,122 | €11,406 | +€7,284 | +176.7% |
| Recurring financial charges | 65 | €4,122 | €11,406 | +€7,284 | +176.7% |
| Profit (loss) for the period before taxes | 9903 | €88,506 | €111,013 | +€22,508 | +25.4% |
| Income taxes | 67/77 | €26,069 | €22,143 | -€3,926 | -15.1% |
| Profit (loss) for the period | 9904 | €62,436 | €88,870 | +€26,433 | +42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €62,436 | €88,870 | +€26,433 | +42.3% |
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 9 October 2026 via checked.be.