50 North: 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.
50 North
Largest movements
- Current investments +€50,000
up €50,000 (+337%), from €14,855 to €64,855
- Cash -€17,995
down €17,995 (-20.1%), from €89,732 to €71,737
mainly Contributions, distributions and other (-€58,000) and Current investments (-€50,000)
- Receivables within one year +€2,745
up €2,745 (+15.5%), from €17,666 to €20,411
- Tangible fixed assets -€2,344
down €2,344 (-35.6%), from €6,592 to €4,248
- Other debts +€43,748
up €43,748 (+53.0%), from €82,531 to €126,280
- Tax, wage and social debts -€8,139
down €8,139 (-35.7%), from €22,776 to €14,637
- Profit (loss) carried forward -€3,214
down €3,214 (-87.4%), from €3,677 to €463
- Financial income +€2,311
up €2,311 (+49,061%), from €5 to €2,315
- Other operating charges -€1,383
down €1,383 (-22.6%), from €6,130 to €4,747
- Taxes +€862
up €862 (+6.4%), from €13,544 to €14,406
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 | €129,444 | €161,851 | +€32,406 | +25.0% |
| Fixed assets | 21/28 | €7,192 | €4,848 | -€2,344 | -32.6% |
| Tangible fixed assets | 22/27 | €6,592 | €4,248 | -€2,344 | -35.6% |
| Furniture and vehicles | 24 | €6,592 | €4,248 | -€2,344 | -35.6% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €122,252 | €157,003 | +€34,750 | +28.4% |
| Amounts receivable within one year | 40/41 | €17,666 | €20,411 | +€2,745 | +15.5% |
| Trade receivables | 40 | €17,666 | €20,411 | +€2,745 | +15.5% |
| Current investments | 50/53 | €14,855 | €64,855 | +€50,000 | +337% |
| Cash at bank and in hand | 54/58 | €89,732 | €71,737 | -€17,995 | -20.1% |
| Total equity and liabilities | 10/49 | €129,444 | €161,851 | +€32,406 | +25.0% |
| Equity | 10/15 | €24,137 | €20,923 | -€3,214 | -13.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,677 | €463 | -€3,214 | -87.4% |
| Amounts payable | 17/49 | €105,307 | €140,928 | +€35,620 | +33.8% |
| Amounts payable within one year | 42/48 | €105,307 | €140,928 | +€35,620 | +33.8% |
| Trade debts | 44 | - | €11 | +€11 | |
| Suppliers | 440/4 | - | €11 | +€11 | |
| Taxes, remuneration and social security | 45 | €22,776 | €14,637 | -€8,139 | -35.7% |
| Taxes | 450/3 | €22,776 | €14,637 | -€8,139 | -35.7% |
| Other amounts payable | 47/48 | €82,531 | €126,280 | +€43,748 | +53.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,720 | €2,344 | -€376 | -13.8% |
| Other operating charges | 640/8 | €6,130 | €4,747 | -€1,383 | -22.6% |
| Gross operating margin | 9900 | €75,717 | €75,474 | -€243 | -0.3% |
| Operating profit (loss) | 9901 | €66,866 | €68,382 | +€1,516 | +2.3% |
| Financial income | 75/76B | €5 | €2,315 | +€2,311 | +49,061% |
| Recurring financial income | 75 | €5 | €2,315 | +€2,311 | +49,061% |
| Financial charges | 65/66B | €1,962 | €1,506 | -€457 | -23.3% |
| Recurring financial charges | 65 | €1,962 | €1,506 | -€457 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €64,908 | €69,192 | +€4,284 | +6.6% |
| Income taxes | 67/77 | €13,544 | €14,406 | +€862 | +6.4% |
| Profit (loss) for the period | 9904 | €51,364 | €54,786 | +€3,422 | +6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €51,364 | €54,786 | +€3,422 | +6.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.