A Fortiori: 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.
A Fortiori
Largest movements
- Current investments -€200,000
down €200,000 (-33.3%), from €600,000 to €400,000
- Financial fixed assets -€67,500
down €67,500 (-31.6%), from €213,750 to €146,250
- Receivables within one year +€48,088
up €48,088 (+2,516%), from €1,912 to €50,000
- Cash -€25,269
down €25,269 (-33.8%), from €74,676 to €49,407
mainly Contributions, distributions and other (-€296,814) and Other debts (-€54,872)
- Reserves -€200,451
down €200,451 (-38.4%), from €521,523 to €321,072
- Other debts -€54,872
down €54,872 (-15.6%), from €351,666 to €296,794
- Gross operating margin +€46,349
up €46,349 (+49.0%), from €94,517 to €140,866
- Taxes +€12,184
up €12,184 (+35.1%), from €34,669 to €46,853
- Financial income -€8,330
down €8,330 (-52.8%), from €15,782 to €7,452
of which Financial income: -€8,330
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 | €900,485 | €653,455 | -€247,031 | -27.4% |
| Fixed assets | 21/28 | €220,410 | €151,190 | -€69,220 | -31.4% |
| Tangible fixed assets | 22/27 | €6,660 | €4,940 | -€1,720 | -25.8% |
| Furniture and vehicles | 24 | €6,660 | €4,940 | -€1,720 | -25.8% |
| Financial fixed assets | 28 | €213,750 | €146,250 | -€67,500 | -31.6% |
| Current assets | 29/58 | €680,075 | €502,265 | -€177,810 | -26.1% |
| Amounts receivable within one year | 40/41 | €1,912 | €50,000 | +€48,088 | +2,516% |
| Other amounts receivable | 41 | €1,912 | €50,000 | +€48,088 | +2,516% |
| Current investments | 50/53 | €600,000 | €400,000 | -€200,000 | -33.3% |
| Cash at bank and in hand | 54/58 | €74,676 | €49,407 | -€25,269 | -33.8% |
| Deferred charges and accrued income | 490/1 | €3,488 | €2,858 | -€630 | -18.1% |
| Total equity and liabilities | 10/49 | €900,485 | €653,455 | -€247,031 | -27.4% |
| Equity | 10/15 | €540,123 | €339,672 | -€200,451 | -37.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €521,523 | €321,072 | -€200,451 | -38.4% |
| Distributable reserves | 133 | €521,523 | €321,072 | -€200,451 | -38.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €360,362 | €313,783 | -€46,579 | -12.9% |
| Amounts payable within one year | 42/48 | €360,362 | €313,783 | -€46,579 | -12.9% |
| Financial debts | 43 | €608 | €0 | -€608 | -100.0% |
| Other loans | 439 | €608 | €0 | -€608 | -100.0% |
| Trade debts | 44 | €936 | €1,223 | +€287 | +30.7% |
| Suppliers | 440/4 | €936 | €1,223 | +€287 | +30.7% |
| Taxes, remuneration and social security | 45 | €7,152 | €15,766 | +€8,614 | +120% |
| Taxes | 450/3 | €7,152 | €15,766 | +€8,614 | +120% |
| Other amounts payable | 47/48 | €351,666 | €296,794 | -€54,872 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,605 | €3,229 | +€624 | +24.0% |
| Other operating charges | 640/8 | €534 | €1,148 | +€614 | +115% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €94,517 | €140,866 | +€46,349 | +49.0% |
| Operating profit (loss) | 9901 | €91,378 | €136,489 | +€45,111 | +49.4% |
| Financial income | 75/76B | €15,782 | €7,452 | -€8,330 | -52.8% |
| Recurring financial income | 75 | €15,782 | €7,452 | -€8,330 | -52.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €965 | €725 | -€240 | -24.9% |
| Recurring financial charges | 65 | €965 | €725 | -€240 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €106,194 | €143,215 | +€37,022 | +34.9% |
| Income taxes | 67/77 | €34,669 | €46,853 | +€12,184 | +35.1% |
| Profit (loss) for the period | 9904 | €71,525 | €96,363 | +€24,838 | +34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €71,525 | €96,363 | +€24,838 | +34.7% |
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 28 October 2026 via checked.be.