7P's: 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.
7P's
Largest movements
- Receivables within one year +€121,136
up €121,136 (+65.0%), from €186,464 to €307,600
of which Trade receivables: +€122,138
- Tangible fixed assets -€24,590
down €24,590 (-3.8%), from €644,644 to €620,054
of which Land and buildings: -€24,367
- Cash -€18,992
down €18,992 (-80.9%), from €23,482 to €4,490
mainly Receivables within one year (-€121,136) and Current investments (-€2,395)
- Reserves +€73,475
up €73,475 (+7.5%), from €974,172 to €1.0m
of which Distributable reserves: +€73,475
- Other operating charges +€8,441
up €8,441 (+400%), from €2,112 to €10,552
- Gross operating margin +€6,278
up €6,278 (+4.7%), from €134,519 to €140,797
- Financial income -€3,555
down €3,555 (-52.8%), from €6,736 to €3,181
- Financial charges +€2,625
up €2,625, from -€1,317 to €1,309
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 | €1,024,270 | €1,104,220 | +€79,950 | +7.8% |
| Fixed assets | 21/28 | €644,644 | €620,054 | -€24,590 | -3.8% |
| Tangible fixed assets | 22/27 | €644,644 | €620,054 | -€24,590 | -3.8% |
| Land and buildings | 22 | €643,567 | €619,201 | -€24,367 | -3.8% |
| Plant, machinery and equipment | 23 | €1,076 | €853 | -€223 | -20.7% |
| Current assets | 29/58 | €379,627 | €484,166 | +€104,539 | +27.5% |
| Amounts receivable within one year | 40/41 | €186,464 | €307,600 | +€121,136 | +65.0% |
| Trade receivables | 40 | €174,742 | €296,880 | +€122,138 | +69.9% |
| Other amounts receivable | 41 | €11,722 | €10,720 | -€1,002 | -8.5% |
| Current investments | 50/53 | €169,681 | €172,076 | +€2,395 | +1.4% |
| Cash at bank and in hand | 54/58 | €23,482 | €4,490 | -€18,992 | -80.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,024,270 | €1,104,220 | +€79,950 | +7.8% |
| Equity | 10/15 | €992,722 | €1,066,197 | +€73,475 | +7.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €974,172 | €1,047,647 | +€73,475 | +7.5% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €972,317 | €1,045,792 | +€73,475 | +7.6% |
| Amounts payable | 17/49 | €31,549 | €38,023 | +€6,474 | +20.5% |
| Amounts payable within one year | 42/48 | €31,549 | €38,023 | +€6,474 | +20.5% |
| Trade debts | 44 | €3,698 | €5,017 | +€1,319 | +35.7% |
| Suppliers | 440/4 | €3,698 | €5,017 | +€1,319 | +35.7% |
| Taxes, remuneration and social security | 45 | €15,168 | €15,844 | +€676 | +4.5% |
| Taxes | 450/3 | €15,168 | €15,844 | +€676 | +4.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €12,683 | €17,163 | +€4,480 | +35.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,405 | €24,590 | +€184 | +0.8% |
| Other operating charges | 640/8 | €2,112 | €10,552 | +€8,441 | +400% |
| Gross operating margin | 9900 | €134,519 | €140,797 | +€6,278 | +4.7% |
| Operating profit (loss) | 9901 | €108,002 | €105,655 | -€2,347 | -2.2% |
| Financial income | 75/76B | €6,736 | €3,181 | -€3,555 | -52.8% |
| Recurring financial income | 75 | €6,736 | €3,181 | -€3,555 | -52.8% |
| Financial charges | 65/66B | -€1,317 | €1,309 | +€2,625 | |
| Recurring financial charges | 65 | -€1,317 | €1,309 | +€2,625 | |
| Profit (loss) for the period before taxes | 9903 | €116,055 | €107,527 | -€8,527 | -7.3% |
| Income taxes | 67/77 | €33,783 | €34,052 | +€269 | +0.8% |
| Profit (loss) for the period | 9904 | €82,272 | €73,475 | -€8,796 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €82,272 | €73,475 | -€8,796 | -10.7% |
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 18 October 2026 via checked.be.