AR - BEHEER: 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.
AR - BEHEER
Largest movements
- Current investments +€35,691
up €35,691 (+6.3%), from €565,068 to €600,759
- Tangible fixed assets -€17,140
down €17,140 (-26.6%), from €64,491 to €47,351
of which Furniture and vehicles: -€16,772
- Cash +€13,227
up €13,227 (+32.9%), from €40,230 to €53,457
mainly Net result for the year (+€89,284) and Other debts (+€21,181)
- Other debts +€21,181
up €21,181 (+23.3%), from €90,901 to €112,082
- Reserves +€10,700
up €10,700 (+2.1%), from €520,800 to €531,500
- Gross operating margin -€4,253
down €4,253 (-3.2%), from €134,758 to €130,505
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €674,392 | €704,318 | +€29,926 | +4.4% |
| Fixed assets | 21/28 | €64,491 | €47,351 | -€17,140 | -26.6% |
| Tangible fixed assets | 22/27 | €64,491 | €47,351 | -€17,140 | -26.6% |
| Plant, machinery and equipment | 23 | €1,403 | €1,035 | -€368 | -26.2% |
| Furniture and vehicles | 24 | €63,088 | €46,316 | -€16,772 | -26.6% |
| Current assets | 29/58 | €609,901 | €656,967 | +€47,066 | +7.7% |
| Current investments | 50/53 | €565,068 | €600,759 | +€35,691 | +6.3% |
| Cash at bank and in hand | 54/58 | €40,230 | €53,457 | +€13,227 | +32.9% |
| Deferred charges and accrued income | 490/1 | €4,603 | €2,751 | -€1,852 | -40.2% |
| Total equity and liabilities | 10/49 | €674,392 | €704,318 | +€29,926 | +4.4% |
| Equity | 10/15 | €561,337 | €570,721 | +€9,384 | +1.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €520,800 | €531,500 | +€10,700 | +2.1% |
| Distributable reserves | 133 | €520,800 | €531,500 | +€10,700 | +2.1% |
| Profit (loss) carried forward | 14 | €21,937 | €20,621 | -€1,316 | -6.0% |
| Amounts payable | 17/49 | €113,055 | €133,597 | +€20,542 | +18.2% |
| Amounts payable within one year | 42/48 | €113,055 | €133,597 | +€20,542 | +18.2% |
| Trade debts | 44 | €550 | €1,241 | +€691 | +126% |
| Suppliers | 440/4 | €550 | €1,241 | +€691 | +126% |
| Taxes, remuneration and social security | 45 | €21,604 | €20,274 | -€1,330 | -6.2% |
| Taxes | 450/3 | €20,604 | €19,274 | -€1,330 | -6.5% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €90,901 | €112,082 | +€21,181 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,140 | €17,140 | = | 0.0% |
| Other operating charges | 640/8 | €955 | €975 | +€20 | +2.1% |
| Gross operating margin | 9900 | €134,758 | €130,505 | -€4,253 | -3.2% |
| Operating profit (loss) | 9901 | €116,663 | €112,390 | -€4,273 | -3.7% |
| Financial income | 75/76B | €13,586 | €14,020 | +€434 | +3.2% |
| Recurring financial income | 75 | €13,586 | €14,020 | +€434 | +3.2% |
| Financial charges | 65/66B | €1,133 | €1,502 | +€369 | +32.6% |
| Recurring financial charges | 65 | €1,133 | €1,502 | +€369 | +32.6% |
| Profit (loss) for the period before taxes | 9903 | €129,116 | €124,908 | -€4,208 | -3.3% |
| Income taxes | 67/77 | €36,946 | €35,624 | -€1,322 | -3.6% |
| Profit (loss) for the period | 9904 | €92,170 | €89,284 | -€2,886 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €92,170 | €89,284 | -€2,886 | -3.1% |
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 20 October 2026 via checked.be.