Amusing ourselves: 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.
What changed
Amusing ourselves
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.9m
2024 · €2.3m-€400,671
Equity
€37.5m
2024 · €35.6m+€1.9m
Cash
€4.1m
2024 · €2.8m+€1.3m
Balance sheet total
€55.4m
2024 · €37.0m+€18.4m
Largest movements
Assets
- Financial fixed assets +€14.1m
up €14.1m (+53.6%), from €26.3m to €40.5m
of which Affiliated companies: +€14.3m
- Receivables within one year +€2.1m
up €2.1m (+92.3%), from €2.2m to €4.3m
of which Other amounts receivable: +€2.0m
- Cash +€1.3m
up €1.3m (+46.7%), from €2.8m to €4.1m
mainly Debts after one year (+€12.1m) and Other debts (+€4.0m)
- Receivables after one year +€928,855
up €928,855 (+24.5%), from €3.8m to €4.7m
Equity and liabilities
- Debts after one year +€12.1m
new in 2025: €12.1m
- Other debts +€4.0m
up €4.0m (+340%), from €1.2m to €5.2m
- Reserves +€1.9m
up €1.9m (+6.5%), from €29.6m to €31.6m
of which Distributable reserves: +€1.9m
Income statement
- Financial income -€459,037
down €459,037 (-24.0%), from €1.9m to €1.5m
- Turnover +€426,000
up €426,000 (+17.3%), from €2.5m to €2.9m
- Services and other goods +€368,888
up €368,888 (+32.7%), from €1.1m to €1.5m
- Taxes +€104,024
up €104,024 (+74.0%), from €140,585 to €244,609
- Other operating charges +€100,546
up €100,546 (+7,676%), from €1,310 to €101,856
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.
Result 2024
€2.3m
Turnover
+€426,000
Other operating income
-€1,437
Services and other goods
-€368,888
Staff costs
-€12,949
Depreciation
-€5,630
Other operating charges
-€100,546
Other operating items
+€235,348
Financial income
-€459,037
Financial charges
-€9,507
Taxes
-€104,024
Result 2025
€1.9m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€3.2m
Investment
-€14.1m
Financing
+€12.2m
Cash 2024
€2.8m
From operations (derived)
+€3.2m
Net result for the year
+€1.9m
Depreciation
+€50,877
Receivables after one year
-€928,855
Receivables within one year
-€2.1m
Smaller working-capital items
-€20,049
Trade debts
+€169,709
Tax, wage and social debts
+€74,356
Other debts
+€4.0m
Investment (derived)
-€14.1m
Investment in fixed assets (net)
-€14.1m
Financing
+€12.2m
Debts after one year
+€12.1m
Current portion of long-term debt
+€128,800
Cash 2025
€4.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,000,735 | €55,407,840 | +€18.4m | +49.7% |
| Fixed assets | 21/28 | €26,527,776 | €40,599,851 | +€14.1m | +53.0% |
| Tangible fixed assets | 22/27 | €196,850 | €145,973 | -€50,877 | -25.8% |
| Furniture and vehicles | 24 | €196,850 | €145,973 | -€50,877 | -25.8% |
| Financial fixed assets | 28 | €26,330,926 | €40,453,878 | +€14.1m | +53.6% |
| Affiliated companies | 280/1 | €24,353,700 | €38,691,652 | +€14.3m | +58.9% |
| Participating interests | 280 | €24,353,700 | €38,691,652 | +€14.3m | +58.9% |
| Companies linked by participating interests | 282/3 | €1,411,166 | €1,146,166 | -€265,000 | -18.8% |
| Participating interests | 282 | €1,411,166 | €1,146,166 | -€265,000 | -18.8% |
| Other financial fixed assets | 284/8 | €566,060 | €616,060 | +€50,000 | +8.8% |
| Shares | 284 | €566,060 | €616,060 | +€50,000 | +8.8% |
| Current assets | 29/58 | €10,472,959 | €14,807,989 | +€4.3m | +41.4% |
| Amounts receivable after more than one year | 29 | €3,798,596 | €4,727,451 | +€928,855 | +24.5% |
| Other amounts receivable | 291 | €3,798,596 | €4,727,451 | +€928,855 | +24.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,246,847 | €4,321,109 | +€2.1m | +92.3% |
| Trade receivables | 40 | €188,397 | €250,704 | +€62,307 | +33.1% |
| Other amounts receivable | 41 | €2,058,450 | €4,070,405 | +€2.0m | +97.7% |
| Current investments | 50/53 | €1,550,000 | €1,550,000 | = | 0.0% |
| Other investments | 51/53 | €1,550,000 | €1,550,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,796,640 | €4,103,357 | +€1.3m | +46.7% |
| Deferred charges and accrued income | 490/1 | €80,875 | €106,073 | +€25,197 | +31.2% |
| Total equity and liabilities | 10/49 | €37,000,735 | €55,407,840 | +€18.4m | +49.7% |
| Equity | 10/15 | €35,590,982 | €37,517,727 | +€1.9m | +5.4% |
| Contributions | 10/11 | €5,950,000 | €5,950,000 | = | 0.0% |
| Reserves | 13 | €29,640,982 | €31,567,727 | +€1.9m | +6.5% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €29,640,982 | €31,567,727 | +€1.9m | +6.5% |
| Amounts payable | 17/49 | €1,409,753 | €17,890,113 | +€16.5m | +1,169% |
| Amounts payable after more than one year | 17 | - | €12,063,200 | +€12.1m | |
| Financial debts | 170/4 | - | €12,063,200 | +€12.1m | |
| Credit institutions | 173 | - | €12,063,200 | +€12.1m | |
| Amounts payable within one year | 42/48 | €1,404,700 | €5,816,711 | +€4.4m | +314% |
| Current portion of amounts payable after more than one year | 42 | - | €128,800 | +€128,800 | |
| Trade debts | 44 | €87,345 | €257,054 | +€169,709 | +194% |
| Suppliers | 440/4 | €87,345 | €257,054 | +€169,709 | +194% |
| Taxes, remuneration and social security | 45 | €129,921 | €204,277 | +€74,356 | +57.2% |
| Taxes | 450/3 | €77,996 | €157,875 | +€79,878 | +102% |
| Remuneration and social security | 454/9 | €51,924 | €46,403 | -€5,522 | -10.6% |
| Other amounts payable | 47/48 | €1,187,435 | €5,226,580 | +€4.0m | +340% |
| Accrued charges and deferred income | 492/3 | €5,053 | €10,201 | +€5,148 | +102% |
| Operating income | 70/76A | €2,476,727 | €2,901,290 | +€424,563 | +17.1% |
| Turnover | 70 | €2,461,200 | €2,887,200 | +€426,000 | +17.3% |
| Other operating income | 74 | €15,527 | €14,090 | -€1,437 | -9.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €1,884,499 | €2,137,164 | +€252,666 | +13.4% |
| Services and other goods | 61 | €1,128,940 | €1,497,829 | +€368,888 | +32.7% |
| Remuneration, social security and pensions | 62 | €473,654 | €486,603 | +€12,949 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,247 | €50,877 | +€5,630 | +12.4% |
| Other operating charges | 640/8 | €1,310 | €101,856 | +€100,546 | +7,676% |
| Non-recurring operating charges | 66A | €235,348 | €0 | -€235,348 | -100% |
| Operating profit (loss) | 9901 | €592,228 | €764,126 | +€171,898 | +29.0% |
| Financial income | 75/76B | €1,909,369 | €1,450,332 | -€459,037 | -24.0% |
| Recurring financial income | 75 | €1,909,369 | €1,450,332 | -€459,037 | -24.0% |
| Income from financial fixed assets | 750 | €1,727,483 | €1,259,642 | -€467,842 | -27.1% |
| Income from current assets | 751 | €181,885 | €190,614 | +€8,729 | +4.8% |
| Other financial income | 752/9 | €0 | €76 | +€76 | +19,497% |
| Financial charges | 65/66B | €33,596 | €43,104 | +€9,507 | +28.3% |
| Recurring financial charges | 65 | €33,596 | €43,104 | +€9,507 | +28.3% |
| Debt charges | 650 | €26,508 | €41,813 | +€15,304 | +57.7% |
| Other financial charges | 652/9 | €7,088 | €1,291 | -€5,797 | -81.8% |
| Profit (loss) for the period before taxes | 9903 | €2,468,001 | €2,171,354 | -€296,647 | -12.0% |
| Income taxes | 67/77 | €140,585 | €244,609 | +€104,024 | +74.0% |
| Taxes | 670/3 | €140,585 | €244,609 | +€104,024 | +74.0% |
| Profit (loss) for the period | 9904 | €2,327,416 | €1,926,745 | -€400,671 | -17.2% |
| Transfer from tax-exempt reserves | 789 | €208,748 | €0 | -€208,748 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €2,536,164 | €1,926,745 | -€609,419 | -24.0% |
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 14 October 2026 via checked.be.