ANALYS2: 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.
ANALYS2
Largest movements
- Current investments -€268,900
down €268,900 (-54.9%), from €490,041 to €221,142
- Cash +€245,749
up €245,749 (+101.4%), from €242,351 to €488,100
mainly Net result for the year (+€362,015) and Current investments (+€268,900)
- Intangible fixed assets -€136,158
down €136,158 (-20.0%), from €680,789 to €544,631
- Deferred charges and accrued income +€64,738
up €64,738 (+41.8%), from €154,763 to €219,501
- Tangible fixed assets -€20,679
down €20,679 (-38.5%), from €53,689 to €33,010
- Reserves -€147,350
down €147,350 (-15.0%), from €979,893 to €832,543
of which Tax-exempt reserves: -€147,350
- Debts after one year -€116,096
down €116,096 (-78.0%), from €148,840 to €32,744
- Tax, wage and social debts +€80,329
up €80,329 (+1122.4%), from €7,157 to €87,486
- Other debts +€67,210
up €67,210 (+18.4%), from €365,960 to €433,170
- Gross operating margin +€66,756
up €66,756 (+12.1%), from €551,120 to €617,877
- Taxes +€22,911
up €22,911 (+25.0%), from €91,697 to €114,608
- Financial income +€11,080
up €11,080 (+149.5%), from €7,411 to €18,491
- Financial charges +€10,858
up €10,858, from -€8,948 to €1,910
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 | €1,621,633 | €1,506,383 | -€115,250 | -7.1% |
| Fixed assets | 21/28 | €734,478 | €577,641 | -€156,837 | -21.4% |
| Intangible fixed assets | 21 | €680,789 | €544,631 | -€136,158 | -20.0% |
| Tangible fixed assets | 22/27 | €53,689 | €33,010 | -€20,679 | -38.5% |
| Furniture and vehicles | 24 | €53,689 | €33,010 | -€20,679 | -38.5% |
| Current assets | 29/58 | €887,155 | €928,742 | +€41,587 | +4.7% |
| Current investments | 50/53 | €490,041 | €221,142 | -€268,900 | -54.9% |
| Cash at bank and in hand | 54/58 | €242,351 | €488,100 | +€245,749 | +101.4% |
| Deferred charges and accrued income | 490/1 | €154,763 | €219,501 | +€64,738 | +41.8% |
| Total equity and liabilities | 10/49 | €1,621,633 | €1,506,383 | -€115,250 | -7.1% |
| Equity | 10/15 | €981,893 | €834,543 | -€147,350 | -15.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €979,893 | €832,543 | -€147,350 | -15.0% |
| Tax-exempt reserves | 132 | €357,850 | €210,500 | -€147,350 | -41.2% |
| Distributable reserves | 133 | €622,043 | €622,043 | = | 0.0% |
| Amounts payable | 17/49 | €639,740 | €671,840 | +€32,100 | +5.0% |
| Amounts payable after more than one year | 17 | €148,840 | €32,744 | -€116,096 | -78.0% |
| Financial debts | 170/4 | €148,840 | €32,744 | -€116,096 | -78.0% |
| Amounts payable within one year | 42/48 | €490,900 | €639,097 | +€148,197 | +30.2% |
| Current portion of amounts payable after more than one year | 42 | €114,546 | €116,096 | +€1,550 | +1.4% |
| Trade debts | 44 | €3,238 | €2,345 | -€893 | -27.6% |
| Suppliers | 440/4 | €3,238 | €2,345 | -€893 | -27.6% |
| Taxes, remuneration and social security | 45 | €7,157 | €87,486 | +€80,329 | +1122.4% |
| Taxes | 450/3 | €7,157 | €87,486 | +€80,329 | +1122.4% |
| Other amounts payable | 47/48 | €365,960 | €433,170 | +€67,210 | +18.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €157,168 | €156,837 | -€332 | -0.2% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €551,120 | €617,877 | +€66,756 | +12.1% |
| Operating profit (loss) | 9901 | €392,984 | €460,042 | +€67,057 | +17.1% |
| Financial income | 75/76B | €7,411 | €18,491 | +€11,080 | +149.5% |
| Recurring financial income | 75 | €7,411 | €18,491 | +€11,080 | +149.5% |
| Financial charges | 65/66B | -€8,948 | €1,910 | +€10,858 | |
| Recurring financial charges | 65 | -€8,948 | €1,910 | +€10,858 | |
| Profit (loss) for the period before taxes | 9903 | €409,344 | €476,623 | +€67,279 | +16.4% |
| Income taxes | 67/77 | €91,697 | €114,608 | +€22,911 | +25.0% |
| Profit (loss) for the period | 9904 | €317,647 | €362,015 | +€44,368 | +14.0% |
| Transfer from tax-exempt reserves | 789 | - | €231,550 | +€231,550 | |
| Transfer to tax-exempt reserves | 689 | €105,250 | €84,200 | -€21,050 | -20.0% |
| Profit (loss) for the period to be appropriated | 9905 | €212,397 | €509,365 | +€296,968 | +139.8% |
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 3 October 2026 via checked.be.