About Finance: 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.
About Finance
Largest movements
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Cash +€147,258
up €147,258 (+177%), from €83,293 to €230,550
mainly Current investments (+€400,000) and Net result for the year (+€67,076)
- Receivables within one year +€20,748
up €20,748 (+2,440%), from €850 to €21,598
of which Trade receivables: +€20,638
- Deferred charges and accrued income -€5,444
down €5,444 (-90.1%), from €6,044 to €600
- Reserves -€311,225
down €311,225 (-70.2%), from €443,148 to €131,923
- Profit (loss) carried forward +€67,076
new in 2025: €67,076
- Provisions +€34,894
new in 2025: €34,894
- Tax, wage and social debts -€28,353
down €28,353 (-74.5%), from €38,061 to €9,708
- Provisions +€34,894
new in 2025: €34,894
- Gross operating margin -€19,800
down €19,800 (-13.3%), from €148,702 to €128,903
- Taxes -€5,598
down €5,598 (-16.5%), from €33,917 to €28,320
- Financial charges +€3,520
up €3,520 (+107%), from €3,296 to €6,816
- Financial income +€2,122
up €2,122 (+20.2%), from €10,480 to €12,602
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 | €493,642 | €255,831 | -€237,811 | -48.2% |
| Fixed assets | 21/28 | €3,455 | €3,082 | -€373 | -10.8% |
| Tangible fixed assets | 22/27 | €3,455 | €3,082 | -€373 | -10.8% |
| Plant, machinery and equipment | 23 | €2,796 | €3,082 | +€286 | +10.2% |
| Other tangible fixed assets | 26 | €660 | €0 | -€660 | -100% |
| Current assets | 29/58 | €490,187 | €252,749 | -€237,438 | -48.4% |
| Amounts receivable within one year | 40/41 | €850 | €21,598 | +€20,748 | +2,440% |
| Trade receivables | 40 | - | €20,638 | +€20,638 | |
| Other amounts receivable | 41 | €850 | €961 | +€110 | +13.0% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €83,293 | €230,550 | +€147,258 | +177% |
| Deferred charges and accrued income | 490/1 | €6,044 | €600 | -€5,444 | -90.1% |
| Total equity and liabilities | 10/49 | €493,642 | €255,831 | -€237,811 | -48.2% |
| Equity | 10/15 | €448,148 | €203,999 | -€244,149 | -54.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €443,148 | €131,923 | -€311,225 | -70.2% |
| Distributable reserves | 133 | €443,148 | €131,923 | -€311,225 | -70.2% |
| Profit (loss) carried forward | 14 | - | €67,076 | +€67,076 | |
| Provisions and deferred taxes | 16 | - | €34,894 | +€34,894 | |
| Provisions for liabilities and charges | 160/5 | - | €34,894 | +€34,894 | |
| Other liabilities and charges | 164/5 | - | €34,894 | +€34,894 | |
| Amounts payable | 17/49 | €45,494 | €16,938 | -€28,556 | -62.8% |
| Amounts payable within one year | 42/48 | €45,494 | €16,938 | -€28,556 | -62.8% |
| Trade debts | 44 | €1,257 | €1,471 | +€213 | +17.0% |
| Suppliers | 440/4 | €1,257 | €1,471 | +€213 | +17.0% |
| Taxes, remuneration and social security | 45 | €38,061 | €9,708 | -€28,353 | -74.5% |
| Taxes | 450/3 | €38,061 | €9,708 | -€28,353 | -74.5% |
| Other amounts payable | 47/48 | €6,176 | €5,760 | -€416 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,333 | €1,480 | +€147 | +11.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €34,894 | +€34,894 | |
| Other operating charges | 640/8 | €2,971 | €2,919 | -€52 | -1.7% |
| Gross operating margin | 9900 | €148,702 | €128,903 | -€19,800 | -13.3% |
| Operating profit (loss) | 9901 | €144,398 | €89,610 | -€54,789 | -37.9% |
| Financial income | 75/76B | €10,480 | €12,602 | +€2,122 | +20.2% |
| Recurring financial income | 75 | €10,480 | €12,602 | +€2,122 | +20.2% |
| Financial charges | 65/66B | €3,296 | €6,816 | +€3,520 | +107% |
| Recurring financial charges | 65 | €3,296 | €6,816 | +€3,520 | +107% |
| Profit (loss) for the period before taxes | 9903 | €151,582 | €95,396 | -€56,186 | -37.1% |
| Income taxes | 67/77 | €33,917 | €28,320 | -€5,598 | -16.5% |
| Profit (loss) for the period | 9904 | €117,665 | €67,076 | -€50,589 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €117,665 | €67,076 | -€50,589 | -43.0% |
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 27 October 2026 via checked.be.