A. 12: 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.
A. 12
Largest movements
- Cash +€16,281
up €16,281 (+32.3%), from €50,477 to €66,758
mainly Net result for the year (+€13,820) and Receivables within one year (+€1,501)
- Reserves +€13,820
up €13,820 (+4.3%), from €320,459 to €334,278
of which Distributable reserves: +€13,820
- Gross operating margin +€5,460
up €5,460 (+29.8%), from €18,335 to €23,795
- Taxes +€4,197
up €4,197 (+428.7%), from €979 to €5,176
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 | €425,795 | €440,553 | +€14,758 | +3.5% |
| Fixed assets | 21/28 | €338,377 | €338,377 | = | 0.0% |
| Tangible fixed assets | 22/27 | €338,377 | €338,377 | = | 0.0% |
| Land and buildings | 22 | €338,377 | €338,377 | = | 0.0% |
| Current assets | 29/58 | €87,418 | €102,176 | +€14,758 | +16.9% |
| Amounts receivable within one year | 40/41 | €36,672 | €35,172 | -€1,501 | -4.1% |
| Trade receivables | 40 | €7,672 | €7,672 | = | 0.0% |
| Other amounts receivable | 41 | €29,001 | €27,500 | -€1,501 | -5.2% |
| Cash at bank and in hand | 54/58 | €50,477 | €66,758 | +€16,281 | +32.3% |
| Deferred charges and accrued income | 490/1 | €269 | €247 | -€23 | -8.4% |
| Total equity and liabilities | 10/49 | €425,795 | €440,553 | +€14,758 | +3.5% |
| Equity | 10/15 | €423,363 | €437,183 | +€13,820 | +3.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €40,905 | €40,905 | = | 0.0% |
| Reserves | 13 | €320,459 | €334,278 | +€13,820 | +4.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €314,259 | €328,078 | +€13,820 | +4.4% |
| Amounts payable | 17/49 | €2,432 | €3,370 | +€938 | +38.6% |
| Amounts payable within one year | 42/48 | €2,432 | €3,370 | +€938 | +38.6% |
| Trade debts | 44 | €1,453 | €2,215 | +€762 | +52.5% |
| Suppliers | 440/4 | €1,453 | €2,215 | +€762 | +52.5% |
| Taxes, remuneration and social security | 45 | €979 | €1,155 | +€176 | +18.0% |
| Taxes | 450/3 | €979 | €1,155 | +€176 | +18.0% |
| Other operating charges | 640/8 | €4,308 | €4,443 | +€135 | +3.1% |
| Gross operating margin | 9900 | €18,335 | €23,795 | +€5,460 | +29.8% |
| Operating profit (loss) | 9901 | €14,027 | €19,351 | +€5,325 | +38.0% |
| Financial charges | 65/66B | €217 | €356 | +€139 | +64.3% |
| Recurring financial charges | 65 | €217 | €356 | +€139 | +64.3% |
| Profit (loss) for the period before taxes | 9903 | €13,810 | €18,996 | +€5,185 | +37.5% |
| Income taxes | 67/77 | €979 | €5,176 | +€4,197 | +428.7% |
| Profit (loss) for the period | 9904 | €12,831 | €13,820 | +€989 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,831 | €13,820 | +€989 | +7.7% |
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 2 October 2026 via checked.be.