A la belge: 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 la belge
Largest movements
- Receivables within one year +€18,070
up €18,070 (+39.8%), from €45,347 to €63,417
of which Other amounts receivable: +€15,325
- Cash -€3,711
down €3,711 (-100%), from €3,711 to €0
mainly Receivables within one year (-€18,070) and Contributions, distributions and other (-€8,878)
- Stocks and contracts -€2,310
down €2,310 (-100%), from €2,310 to €0
- Reserves +€9,712
up €9,712 (+522%), from €1,860 to €11,572
- Other debts +€8,878
up €8,878, from €0 to €8,878
- Profit (loss) carried forward -€7,018
down €7,018 (-100%), from €7,018 to €0
- Tax, wage and social debts -€6,323
down €6,323 (-27.8%), from €22,774 to €16,451
of which Taxes: -€6,323
- Short-term financial debts +€4,173
new in 2025: €4,173
- Gross operating margin -€5,067
down €5,067 (-18.3%), from €27,673 to €22,605
- Financial income +€1,417
up €1,417 (+138%), from €1,025 to €2,442
- Other operating charges +€1,195
up €1,195 (+58.6%), from €2,039 to €3,234
- Financial charges +€573
up €573 (+85.4%), from €672 to €1,245
of which Financial charges: +€573
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 | €52,916 | €64,925 | +€12,009 | +22.7% |
| Fixed assets | 21/28 | €1,430 | €1,190 | -€240 | -16.8% |
| Tangible fixed assets | 22/27 | €1,430 | €1,190 | -€240 | -16.8% |
| Other tangible fixed assets | 26 | €1,430 | €1,190 | -€240 | -16.8% |
| Current assets | 29/58 | €51,486 | €63,735 | +€12,249 | +23.8% |
| Stocks and contracts in progress | 3 | €2,310 | €0 | -€2,310 | -100% |
| Stocks | 30/36 | €2,310 | €0 | -€2,310 | -100% |
| Amounts receivable within one year | 40/41 | €45,347 | €63,417 | +€18,070 | +39.8% |
| Trade receivables | 40 | €10,588 | €13,333 | +€2,745 | +25.9% |
| Other amounts receivable | 41 | €34,758 | €50,084 | +€15,325 | +44.1% |
| Cash at bank and in hand | 54/58 | €3,711 | €0 | -€3,711 | -100% |
| Deferred charges and accrued income | 490/1 | €118 | €318 | +€200 | +169% |
| Total equity and liabilities | 10/49 | €52,916 | €64,925 | +€12,009 | +22.7% |
| Equity | 10/15 | €26,978 | €29,672 | +€2,694 | +10.0% |
| Contributions | 10/11 | €18,100 | €18,100 | = | 0.0% |
| Reserves | 13 | €1,860 | €11,572 | +€9,712 | +522% |
| Distributable reserves | 133 | €1,860 | €11,572 | +€9,712 | +522% |
| Profit (loss) carried forward | 14 | €7,018 | €0 | -€7,018 | -100% |
| Amounts payable | 17/49 | €25,937 | €35,252 | +€9,315 | +35.9% |
| Amounts payable within one year | 42/48 | €25,937 | €35,252 | +€9,315 | +35.9% |
| Financial debts | 43 | - | €4,173 | +€4,173 | |
| Credit institutions | 430/8 | - | €4,173 | +€4,173 | |
| Trade debts | 44 | €3,163 | €5,750 | +€2,586 | +81.8% |
| Suppliers | 440/4 | €3,163 | €5,750 | +€2,586 | +81.8% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €22,774 | €16,451 | -€6,323 | -27.8% |
| Taxes | 450/3 | €22,774 | €16,451 | -€6,323 | -27.8% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €0 | €8,878 | +€8,878 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €235 | €240 | +€5 | +2.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,040 | €2,310 | +€271 | +13.3% |
| Other operating charges | 640/8 | €2,039 | €3,234 | +€1,195 | +58.6% |
| Gross operating margin | 9900 | €27,673 | €22,605 | -€5,067 | -18.3% |
| Operating profit (loss) | 9901 | €23,359 | €16,821 | -€6,538 | -28.0% |
| Financial income | 75/76B | €1,025 | €2,442 | +€1,417 | +138% |
| Recurring financial income | 75 | €1,025 | €2,442 | +€1,417 | +138% |
| Financial charges | 65/66B | €672 | €1,245 | +€573 | +85.4% |
| Recurring financial charges | 65 | €672 | €1,245 | +€573 | +85.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €23,712 | €18,017 | -€5,695 | -24.0% |
| Income taxes | 67/77 | €6,526 | €6,445 | -€81 | -1.2% |
| Profit (loss) for the period | 9904 | €17,186 | €11,572 | -€5,614 | -32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,186 | €11,572 | -€5,614 | -32.7% |
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 24 October 2026 via checked.be.