ACTIV: what changed
ACTIV
Largest movements
- Cash -€61,085
down €61,085 (-37.3%), from €163,719 to €102,633
mainly Other debts (-€61,175) and Tax, wage and social debts (-€13,262)
- Current investments +€12,000
up €12,000 (+4.1%), from €291,000 to €303,000
- Receivables within one year -€7,847
down €7,847 (-59.2%), from €13,249 to €5,401
of which Trade receivables: -€11,186
- Deferred charges and accrued income +€7,584
up €7,584 (+380%), from €1,998 to €9,582
- Tangible fixed assets -€6,982
down €6,982 (-35.1%), from €19,909 to €12,927
- Other debts -€61,175
down €61,175 (-97.3%), from €62,841 to €1,666
- Reserves +€18,996
up €18,996 (+4.7%), from €405,159 to €424,155
- Tax, wage and social debts -€13,262
down €13,262 (-98.5%), from €13,462 to €200
- Gross operating margin -€77,899
down €77,899 (-72.5%), from €107,510 to €29,611
- Taxes -€26,333
down €26,333 (-71.5%), from €36,837 to €10,504
- Financial income -€2,120
down €2,120 (-18.2%), from €11,665 to €9,544
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €489,874 | €433,543 | -€56,331 | -11.5% |
| Fixed assets | 21/28 | €19,909 | €12,927 | -€6,982 | -35.1% |
| Tangible fixed assets | 22/27 | €19,909 | €12,927 | -€6,982 | -35.1% |
| Furniture and vehicles | 24 | €19,909 | €12,927 | -€6,982 | -35.1% |
| Current assets | 29/58 | €469,965 | €420,617 | -€49,348 | -10.5% |
| Amounts receivable within one year | 40/41 | €13,249 | €5,401 | -€7,847 | -59.2% |
| Trade receivables | 40 | €11,186 | €0 | -€11,186 | -100% |
| Other amounts receivable | 41 | €2,062 | €5,401 | +€3,339 | +162% |
| Current investments | 50/53 | €291,000 | €303,000 | +€12,000 | +4.1% |
| Cash at bank and in hand | 54/58 | €163,719 | €102,633 | -€61,085 | -37.3% |
| Deferred charges and accrued income | 490/1 | €1,998 | €9,582 | +€7,584 | +380% |
| Total equity and liabilities | 10/49 | €489,874 | €433,543 | -€56,331 | -11.5% |
| Equity | 10/15 | €411,359 | €430,355 | +€18,996 | +4.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €405,159 | €424,155 | +€18,996 | +4.7% |
| Distributable reserves | 133 | €405,159 | €424,155 | +€18,996 | +4.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €78,515 | €3,188 | -€75,326 | -95.9% |
| Amounts payable within one year | 42/48 | €78,515 | €3,188 | -€75,326 | -95.9% |
| Trade debts | 44 | €2,212 | €1,323 | -€889 | -40.2% |
| Suppliers | 440/4 | €2,212 | €1,323 | -€889 | -40.2% |
| Taxes, remuneration and social security | 45 | €13,462 | €200 | -€13,262 | -98.5% |
| Taxes | 450/3 | €13,462 | €200 | -€13,262 | -98.5% |
| Other amounts payable | 47/48 | €62,841 | €1,666 | -€61,175 | -97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,212 | €6,982 | +€770 | +12.4% |
| Other operating charges | 640/8 | €746 | €671 | -€76 | -10.1% |
| Gross operating margin | 9900 | €107,510 | €29,611 | -€77,899 | -72.5% |
| Operating profit (loss) | 9901 | €100,552 | €21,958 | -€78,594 | -78.2% |
| Financial income | 75/76B | €11,665 | €9,544 | -€2,120 | -18.2% |
| Recurring financial income | 75 | €11,665 | €9,544 | -€2,120 | -18.2% |
| Financial charges | 65/66B | €482 | €337 | -€145 | -30.1% |
| Recurring financial charges | 65 | €482 | €337 | -€145 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €111,735 | €31,166 | -€80,569 | -72.1% |
| Income taxes | 67/77 | €36,837 | €10,504 | -€26,333 | -71.5% |
| Profit (loss) for the period | 9904 | €74,898 | €20,662 | -€54,236 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €74,898 | €20,662 | -€54,236 | -72.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.