AR-CIT-ECT: 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-CIT-ECT
Largest movements
- Cash +€40,985
up €40,985 (+52.5%), from €78,050 to €119,034
mainly Net result for the year (+€55,957) and Depreciation (+€8,152)
- Current investments +€22,158
up €22,158 (+6.9%), from €319,992 to €342,150
- Reserves +€55,957
up €55,957 (+14.6%), from €384,390 to €440,347
of which Distributable reserves: +€55,957
- Gross operating margin +€16,837
up €16,837 (+27.9%), from €60,378 to €77,215
- Taxes +€5,934
up €5,934 (+37.0%), from €16,021 to €21,954
- Financial income +€5,263
up €5,263 (+45.4%), from €11,597 to €16,860
- Depreciation +€927
up €927 (+12.8%), from €7,225 to €8,152
- Financial charges -€828
down €828 (-10.3%), from €8,059 to €7,231
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 | €437,821 | €495,668 | +€57,846 | +13.2% |
| Fixed assets | 21/28 | €24,676 | €19,737 | -€4,939 | -20.0% |
| Tangible fixed assets | 22/27 | €24,676 | €19,737 | -€4,939 | -20.0% |
| Plant, machinery and equipment | 23 | €2,632 | €1,974 | -€658 | -25.0% |
| Furniture and vehicles | 24 | €22,044 | €17,763 | -€4,281 | -19.4% |
| Current assets | 29/58 | €413,145 | €475,931 | +€62,786 | +15.2% |
| Amounts receivable within one year | 40/41 | €12,674 | €12,426 | -€248 | -2.0% |
| Trade receivables | 40 | €11,700 | €11,700 | = | 0.0% |
| Other amounts receivable | 41 | €974 | €726 | -€248 | -25.5% |
| Current investments | 50/53 | €319,992 | €342,150 | +€22,158 | +6.9% |
| Cash at bank and in hand | 54/58 | €78,050 | €119,034 | +€40,985 | +52.5% |
| Deferred charges and accrued income | 490/1 | €2,429 | €2,320 | -€109 | -4.5% |
| Total equity and liabilities | 10/49 | €437,821 | €495,668 | +€57,846 | +13.2% |
| Equity | 10/15 | €384,390 | €440,347 | +€55,957 | +14.6% |
| Reserves | 13 | €384,390 | €440,347 | +€55,957 | +14.6% |
| Tax-exempt reserves | 132 | €7,900 | €7,900 | = | 0.0% |
| Distributable reserves | 133 | €376,490 | €432,447 | +€55,957 | +14.9% |
| Amounts payable | 17/49 | €53,431 | €55,320 | +€1,889 | +3.5% |
| Amounts payable within one year | 42/48 | €49,833 | €52,135 | +€2,302 | +4.6% |
| Trade debts | 44 | €3,965 | €3,847 | -€119 | -3.0% |
| Suppliers | 440/4 | €3,965 | €3,847 | -€119 | -3.0% |
| Taxes, remuneration and social security | 45 | €950 | €3,851 | +€2,901 | +305% |
| Taxes | 450/3 | €950 | €3,851 | +€2,901 | +305% |
| Other amounts payable | 47/48 | €44,917 | €44,437 | -€481 | -1.1% |
| Accrued charges and deferred income | 492/3 | €3,598 | €3,185 | -€413 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,225 | €8,152 | +€927 | +12.8% |
| Other operating charges | 640/8 | €876 | €781 | -€95 | -10.9% |
| Gross operating margin | 9900 | €60,378 | €77,215 | +€16,837 | +27.9% |
| Operating profit (loss) | 9901 | €52,277 | €68,282 | +€16,005 | +30.6% |
| Financial income | 75/76B | €11,597 | €16,860 | +€5,263 | +45.4% |
| Recurring financial income | 75 | €11,597 | €16,860 | +€5,263 | +45.4% |
| Financial charges | 65/66B | €8,059 | €7,231 | -€828 | -10.3% |
| Recurring financial charges | 65 | €8,059 | €7,231 | -€828 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €55,815 | €77,911 | +€22,097 | +39.6% |
| Income taxes | 67/77 | €16,021 | €21,954 | +€5,934 | +37.0% |
| Profit (loss) for the period | 9904 | €39,794 | €55,957 | +€16,163 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,794 | €55,957 | +€16,163 | +40.6% |
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 24 October 2026 via checked.be.