ANDRE BALANCK: 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.
ANDRE BALANCK
Largest movements
- Cash +€227,819
new in 2025: €227,819
mainly Receivables within one year (+€163,238) and Current investments (+€60,281)
- Receivables within one year -€163,238
down €163,238 (-72.7%), from €224,448 to €61,210
of which Trade receivables: -€190,763
- Current investments -€60,281
no longer reported in 2025 (was €60,281)
- Tangible fixed assets +€30,610
up €30,610 (+16.7%), from €183,341 to €213,951
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€798,736
down €798,736 (-99.8%), from €800,000 to €1,264
- Gross operating margin +€26,423
up €26,423 (+80.0%), from €33,030 to €59,452
- Financial charges +€13,513
up €13,513 (+154.5%), from €8,748 to €22,261
- Taxes +€3,190
up €3,190 (+263.6%), from €1,211 to €4,401
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 | €1,938,382 | €1,973,293 | +€34,911 | +1.8% |
| Fixed assets | 21/28 | €1,653,654 | €1,684,264 | +€30,610 | +1.9% |
| Tangible fixed assets | 22/27 | €183,341 | €213,951 | +€30,610 | +16.7% |
| Land and buildings | 22 | €183,341 | €213,951 | +€30,610 | +16.7% |
| Financial fixed assets | 28 | €1,470,313 | €1,470,313 | = | 0.0% |
| Current assets | 29/58 | €284,729 | €289,029 | +€4,301 | +1.5% |
| Amounts receivable within one year | 40/41 | €224,448 | €61,210 | -€163,238 | -72.7% |
| Trade receivables | 40 | €190,763 | €0 | -€190,763 | -100.0% |
| Other amounts receivable | 41 | €33,685 | €61,210 | +€27,525 | +81.7% |
| Current investments | 50/53 | €60,281 | - | -€60,281 | |
| Cash at bank and in hand | 54/58 | - | €227,819 | +€227,819 | |
| Total equity and liabilities | 10/49 | €1,938,382 | €1,973,293 | +€34,911 | +1.8% |
| Equity | 10/15 | €1,604,870 | €1,618,073 | +€13,203 | +0.8% |
| Contributions | 10/11 | €81,807 | €81,807 | = | 0.0% |
| Contributions outside capital | 11 | €81,807 | - | -€81,807 | |
| Other | 1109/19 | €81,807 | - | -€81,807 | |
| Reserves | 13 | €8,180 | €8,180 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,180 | €8,180 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,180 | €8,180 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,514,883 | €1,528,085 | +€13,203 | +0.9% |
| Provisions and deferred taxes | 16 | €24,000 | €24,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €24,000 | €24,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €24,000 | €24,000 | = | 0.0% |
| Amounts payable | 17/49 | €309,512 | €331,221 | +€21,708 | +7.0% |
| Amounts payable within one year | 42/48 | €303,921 | €331,221 | +€27,300 | +9.0% |
| Trade debts | 44 | €156 | €9,805 | +€9,649 | +6185.4% |
| Suppliers | 440/4 | €156 | €9,805 | +€9,649 | +6185.4% |
| Taxes, remuneration and social security | 45 | €3,765 | €6,548 | +€2,782 | +73.9% |
| Taxes | 450/3 | €3,765 | €6,548 | +€2,782 | +73.9% |
| Other amounts payable | 47/48 | €300,000 | €314,868 | +€14,868 | +5.0% |
| Accrued charges and deferred income | 492/3 | €5,591 | €0 | -€5,591 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €590 | +€590 | |
| Other operating charges | 640/8 | €19,730 | €20,263 | +€533 | +2.7% |
| Gross operating margin | 9900 | €33,030 | €59,452 | +€26,423 | +80.0% |
| Operating profit (loss) | 9901 | €13,300 | €38,600 | +€25,300 | +190.2% |
| Financial income | 75/76B | €800,000 | €1,264 | -€798,736 | -99.8% |
| Recurring financial income | 75 | €800,000 | €1,264 | -€798,736 | -99.8% |
| Financial charges | 65/66B | €8,748 | €22,261 | +€13,513 | +154.5% |
| Recurring financial charges | 65 | €8,748 | €22,261 | +€13,513 | +154.5% |
| Profit (loss) for the period before taxes | 9903 | €804,552 | €17,603 | -€786,949 | -97.8% |
| Income taxes | 67/77 | €1,211 | €4,401 | +€3,190 | +263.6% |
| Profit (loss) for the period | 9904 | €803,342 | €13,203 | -€790,139 | -98.4% |
| Profit (loss) for the period to be appropriated | 9905 | €803,342 | €13,203 | -€790,139 | -98.4% |
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 11 October 2026 via checked.be.