A2Y: 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.
A2Y
Largest movements
- Cash +€46,919
up €46,919 (+141.8%), from €33,081 to €80,000
mainly Net result for the year (+€36,211) and Trade debts (+€33,775)
- Receivables within one year -€28,892
down €28,892 (-22.8%), from €126,666 to €97,774
of which Other amounts receivable: -€36,562
- Tangible fixed assets -€11,674
down €11,674 (-6.7%), from €172,993 to €161,319
- Trade debts +€33,775
up €33,775 (+395.0%), from €8,550 to €42,325
- Reserves -€20,789
down €20,789 (-14.8%), from €140,590 to €119,801
of which Distributable reserves: -€20,789
- Debts after one year -€5,606
down €5,606 (-4.7%), from €118,660 to €113,054
- Staff costs -€11,058
no longer reported in 2025 (was €11,058)
- Gross operating margin -€6,238
down €6,238 (-8.3%), from €75,484 to €69,246
- Financial charges +€1,586
up €1,586 (+47.3%), from €3,351 to €4,937
- Depreciation +€1,345
up €1,345 (+12.4%), from €10,850 to €12,195
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 | €333,240 | €340,498 | +€7,258 | +2.2% |
| Fixed assets | 21/28 | €173,023 | €161,349 | -€11,674 | -6.7% |
| Tangible fixed assets | 22/27 | €172,993 | €161,319 | -€11,674 | -6.7% |
| Land and buildings | 22 | €153,289 | €149,039 | -€4,250 | -2.8% |
| Furniture and vehicles | 24 | €7,017 | €5,198 | -€1,819 | -25.9% |
| Leasing and similar rights | 25 | €5,468 | €1,185 | -€4,283 | -78.3% |
| Assets under construction and advance payments | 27 | €7,219 | €5,896 | -€1,323 | -18.3% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €160,217 | €179,150 | +€18,933 | +11.8% |
| Amounts receivable within one year | 40/41 | €126,666 | €97,774 | -€28,892 | -22.8% |
| Trade receivables | 40 | €27,981 | €35,651 | +€7,670 | +27.4% |
| Other amounts receivable | 41 | €98,685 | €62,123 | -€36,562 | -37.0% |
| Cash at bank and in hand | 54/58 | €33,081 | €80,000 | +€46,919 | +141.8% |
| Deferred charges and accrued income | 490/1 | €470 | €1,375 | +€905 | +192.6% |
| Total equity and liabilities | 10/49 | €333,240 | €340,498 | +€7,258 | +2.2% |
| Equity | 10/15 | €191,946 | €171,157 | -€20,789 | -10.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €140,590 | €119,801 | -€20,789 | -14.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €138,730 | €117,941 | -€20,789 | -15.0% |
| Profit (loss) carried forward | 14 | €45,156 | €45,156 | -€0 | 0.0% |
| Amounts payable | 17/49 | €141,294 | €169,341 | +€28,047 | +19.9% |
| Amounts payable after more than one year | 17 | €118,660 | €113,054 | -€5,606 | -4.7% |
| Financial debts | 170/4 | €118,660 | €113,054 | -€5,606 | -4.7% |
| Amounts payable within one year | 42/48 | €22,634 | €56,287 | +€33,653 | +148.7% |
| Current portion of amounts payable after more than one year | 42 | €5,332 | €5,573 | +€241 | +4.5% |
| Trade debts | 44 | €8,550 | €42,325 | +€33,775 | +395.0% |
| Suppliers | 440/4 | €8,550 | €42,325 | +€33,775 | +395.0% |
| Taxes, remuneration and social security | 45 | €8,752 | €8,390 | -€362 | -4.1% |
| Taxes | 450/3 | €7,557 | €8,390 | +€833 | +11.0% |
| Remuneration and social security | 454/9 | €1,195 | - | -€1,195 | |
| Remuneration, social security and pensions | 62 | €11,058 | - | -€11,058 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,850 | €12,195 | +€1,345 | +12.4% |
| Other operating charges | 640/8 | €859 | €687 | -€172 | -20.0% |
| Gross operating margin | 9900 | €75,484 | €69,246 | -€6,238 | -8.3% |
| Operating profit (loss) | 9901 | €52,717 | €56,364 | +€3,647 | +6.9% |
| Financial income | 75/76B | - | €149 | +€149 | |
| Recurring financial income | 75 | - | €149 | +€149 | |
| Financial charges | 65/66B | €3,351 | €4,937 | +€1,586 | +47.3% |
| Recurring financial charges | 65 | €3,351 | €4,937 | +€1,586 | +47.3% |
| Profit (loss) for the period before taxes | 9903 | €49,366 | €51,576 | +€2,210 | +4.5% |
| Income taxes | 67/77 | €15,130 | €15,365 | +€235 | +1.6% |
| Profit (loss) for the period | 9904 | €34,236 | €36,211 | +€1,975 | +5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €34,236 | €36,211 | +€1,975 | +5.8% |
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 5 October 2026 via checked.be.