3P: 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.
3P
Largest movements
- Current investments +€28.7m
new in 2025: €28.7m
- Financial fixed assets -€5.5m
down €5.5m (-36.0%), from €15.1m to €9.7m
- Receivables within one year -€1.1m
down €1.1m (-71.8%), from €1.5m to €435,600
of which Other amounts receivable: -€1.5m
- Profit (loss) carried forward +€38.8m
up €38.8m (+47413.7%), from €81,823 to €38.9m
- Contributions -€8.9m
down €8.9m (-98.5%), from €9.1m to €134,725
- Current portion of long-term debt -€5.5m
no longer reported in 2025 (was €5.5m)
- Other debts -€1.9m
no longer reported in 2025 (was €1.9m)
- Financial income +€39.6m
up €39.6m (+175011.3%), from €22,654 to €39.7m
of which Non-recurring financial income: +€37.7m
- Gross operating margin -€731,759
down €731,759, from €381,822 to -€349,937
- Taxes +€106,676
up €106,676 (+192.9%), from €55,298 to €161,974
- Financial charges -€72,595
down €72,595 (-24.1%), from €301,600 to €229,005
- Staff costs +€45,229
new in 2025: €45,229
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 | €16,918,287 | €39,338,449 | +€22.4m | +132.5% |
| Fixed assets | 21/28 | €15,364,120 | €9,944,232 | -€5.4m | -35.3% |
| Tangible fixed assets | 22/27 | €219,000 | €256,540 | +€37,540 | +17.1% |
| Land and buildings | 22 | €219,000 | €211,335 | -€7,665 | -3.5% |
| Furniture and vehicles | 24 | - | €45,205 | +€45,205 | |
| Financial fixed assets | 28 | €15,145,120 | €9,687,692 | -€5.5m | -36.0% |
| Current assets | 29/58 | €1,554,167 | €29,394,216 | +€27.8m | +1791.3% |
| Amounts receivable within one year | 40/41 | €1,542,654 | €435,600 | -€1.1m | -71.8% |
| Trade receivables | 40 | €20,000 | €435,600 | +€415,600 | +2078.0% |
| Other amounts receivable | 41 | €1,522,654 | - | -€1.5m | |
| Current investments | 50/53 | - | €28,669,482 | +€28.7m | |
| Cash at bank and in hand | 54/58 | €11,513 | €287,847 | +€276,334 | +2400.2% |
| Deferred charges and accrued income | 490/1 | - | €1,288 | +€1,288 | |
| Total equity and liabilities | 10/49 | €16,918,287 | €39,338,449 | +€22.4m | +132.5% |
| Equity | 10/15 | €9,135,943 | €39,011,827 | +€29.9m | +327.0% |
| Contributions | 10/11 | €9,054,120 | €134,725 | -€8.9m | -98.5% |
| Profit (loss) carried forward | 14 | €81,823 | €38,877,101 | +€38.8m | +47413.7% |
| Amounts payable | 17/49 | €7,782,344 | €326,622 | -€7.5m | -95.8% |
| Amounts payable within one year | 42/48 | €7,718,007 | €326,622 | -€7.4m | -95.8% |
| Current portion of amounts payable after more than one year | 42 | €5,549,999 | - | -€5.5m | |
| Trade debts | 44 | €174,714 | €107,667 | -€67,048 | -38.4% |
| Suppliers | 440/4 | €174,714 | €107,667 | -€67,048 | -38.4% |
| Taxes, remuneration and social security | 45 | €68,294 | €218,955 | +€150,662 | +220.6% |
| Taxes | 450/3 | €68,294 | €207,210 | +€138,916 | +203.4% |
| Remuneration and social security | 454/9 | - | €11,745 | +€11,745 | |
| Other amounts payable | 47/48 | €1,925,000 | - | -€1.9m | |
| Accrued charges and deferred income | 492/3 | €64,338 | - | -€64,338 | |
| Remuneration, social security and pensions | 62 | - | €45,229 | +€45,229 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €7,665 | +€7,665 | |
| Other operating charges | 640/8 | €837 | €447 | -€390 | -46.6% |
| Gross operating margin | 9900 | €381,822 | -€349,937 | -€731,759 | |
| Operating profit (loss) | 9901 | €380,985 | -€403,277 | -€784,262 | |
| Financial income | 75/76B | €22,654 | €39,670,140 | +€39.6m | +175011.3% |
| Recurring financial income | 75 | €22,654 | €2,000,868 | +€2.0m | +8732.2% |
| Non-recurring financial income | 76B | - | €37,669,272 | +€37.7m | |
| Financial charges | 65/66B | €301,600 | €229,005 | -€72,595 | -24.1% |
| Recurring financial charges | 65 | €301,600 | €229,005 | -€72,595 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €102,039 | €39,037,858 | +€38.9m | +38157.8% |
| Income taxes | 67/77 | €55,298 | €161,974 | +€106,676 | +192.9% |
| Profit (loss) for the period | 9904 | €46,741 | €38,875,884 | +€38.8m | +83072.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,741 | €38,875,884 | +€38.8m | +83072.2% |
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 7 October 2026 via checked.be.