ANALYTIKK: 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.
ANALYTIKK
Largest movements
- Current investments +€38,220
up €38,220 (+152.6%), from €25,045 to €63,265
- Receivables within one year -€16,570
down €16,570 (-35.1%), from €47,172 to €30,602
of which Trade receivables: -€15,518
- Tangible fixed assets +€11,136
up €11,136 (+2.7%), from €406,295 to €417,431
of which Land and buildings: +€13,863
- Cash -€8,481
down €8,481 (-39.4%), from €21,545 to €13,064
mainly Contributions, distributions and other (-€255,204) and Current investments (-€38,220)
- Other debts +€177,200
up €177,200 (+478.4%), from €37,037 to €214,238
- Reserves -€124,403
no longer reported in 2025 (was €124,403)
- Tax, wage and social debts -€26,800
down €26,800 (-63.2%), from €42,408 to €15,608
of which Taxes: -€23,800
- Debts after one year -€16,957
down €16,957 (-6.2%), from €272,818 to €255,860
- Current portion of long-term debt +€11,788
up €11,788 (+69.5%), from €16,957 to €28,746
- Gross operating margin +€19,432
up €19,432 (+10.4%), from €187,017 to €206,449
- Other operating charges +€8,406
up €8,406 (+295.0%), from €2,849 to €11,255
- Taxes +€2,862
up €2,862 (+7.7%), from €36,991 to €39,853
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 | €500,057 | €524,362 | +€24,305 | +4.9% |
| Fixed assets | 21/28 | €406,295 | €417,431 | +€11,136 | +2.7% |
| Tangible fixed assets | 22/27 | €406,295 | €417,431 | +€11,136 | +2.7% |
| Land and buildings | 22 | €396,780 | €410,643 | +€13,863 | +3.5% |
| Plant, machinery and equipment | 23 | €2,387 | €3,118 | +€731 | +30.6% |
| Furniture and vehicles | 24 | €6,780 | €3,605 | -€3,175 | -46.8% |
| Other tangible fixed assets | 26 | €347 | €65 | -€282 | -81.3% |
| Current assets | 29/58 | €93,762 | €106,931 | +€13,168 | +14.0% |
| Amounts receivable within one year | 40/41 | €47,172 | €30,602 | -€16,570 | -35.1% |
| Trade receivables | 40 | €46,120 | €30,602 | -€15,518 | -33.6% |
| Other amounts receivable | 41 | €1,052 | - | -€1,052 | |
| Current investments | 50/53 | €25,045 | €63,265 | +€38,220 | +152.6% |
| Cash at bank and in hand | 54/58 | €21,545 | €13,064 | -€8,481 | -39.4% |
| Total equity and liabilities | 10/49 | €500,057 | €524,362 | +€24,305 | +4.9% |
| Equity | 10/15 | €127,403 | €3,000 | -€124,403 | -97.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €124,403 | - | -€124,403 | |
| Distributable reserves | 133 | €124,403 | - | -€124,403 | |
| Amounts payable | 17/49 | €372,654 | €521,362 | +€148,708 | +39.9% |
| Amounts payable after more than one year | 17 | €272,818 | €255,860 | -€16,957 | -6.2% |
| Financial debts | 170/4 | €272,818 | €255,860 | -€16,957 | -6.2% |
| Amounts payable within one year | 42/48 | €99,836 | €265,501 | +€165,665 | +165.9% |
| Current portion of amounts payable after more than one year | 42 | €16,957 | €28,746 | +€11,788 | +69.5% |
| Trade debts | 44 | €3,433 | €6,910 | +€3,477 | +101.3% |
| Suppliers | 440/4 | €3,433 | €6,910 | +€3,477 | +101.3% |
| Taxes, remuneration and social security | 45 | €42,408 | €15,608 | -€26,800 | -63.2% |
| Taxes | 450/3 | €36,408 | €12,608 | -€23,800 | -65.4% |
| Remuneration and social security | 454/9 | €6,000 | €3,000 | -€3,000 | -50.0% |
| Other amounts payable | 47/48 | €37,037 | €214,238 | +€177,200 | +478.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,956 | €18,642 | +€686 | +3.8% |
| Other operating charges | 640/8 | €2,849 | €11,255 | +€8,406 | +295.0% |
| Gross operating margin | 9900 | €187,017 | €206,449 | +€19,432 | +10.4% |
| Operating profit (loss) | 9901 | €166,212 | €176,552 | +€10,340 | +6.2% |
| Financial income | 75/76B | €1,042 | €220 | -€822 | -78.9% |
| Recurring financial income | 75 | €1,042 | €220 | -€822 | -78.9% |
| Financial charges | 65/66B | €5,860 | €6,118 | +€259 | +4.4% |
| Recurring financial charges | 65 | €5,860 | €6,118 | +€259 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €161,395 | €170,654 | +€9,259 | +5.7% |
| Income taxes | 67/77 | €36,991 | €39,853 | +€2,862 | +7.7% |
| Profit (loss) for the period | 9904 | €124,403 | €130,801 | +€6,398 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €124,403 | €130,801 | +€6,398 | +5.1% |
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 4 October 2026 via checked.be.