ASSIVER: 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.
ASSIVER
Largest movements
- Cash -€224,460
down €224,460 (-40.0%), from €560,541 to €336,081
mainly Contributions, distributions and other (-€338,750) and Trade debts (-€12,228)
- Receivables within one year +€8,383
up €8,383 (+74.7%), from €11,227 to €19,609
of which Trade receivables: +€14,020
- Reserves -€275,000
down €275,000 (-51.5%), from €534,425 to €259,425
of which Distributable reserves: -€275,000
- Other debts +€63,766
up €63,766 (+4500.1%), from €1,417 to €65,183
- Trade debts -€12,228
down €12,228 (-52.7%), from €23,217 to €10,989
- Gross operating margin -€117,578
down €117,578 (-56.4%), from €208,547 to €90,969
- Taxes -€27,256
down €27,256 (-54.6%), from €49,926 to €22,669
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 | €583,420 | €365,255 | -€218,165 | -37.4% |
| Fixed assets | 21/28 | €9,412 | €7,100 | -€2,311 | -24.6% |
| Tangible fixed assets | 22/27 | €9,412 | €7,100 | -€2,311 | -24.6% |
| Furniture and vehicles | 24 | €5,559 | €3,819 | -€1,741 | -31.3% |
| Other tangible fixed assets | 26 | €3,852 | €3,282 | -€571 | -14.8% |
| Current assets | 29/58 | €574,009 | €358,155 | -€215,854 | -37.6% |
| Amounts receivable within one year | 40/41 | €11,227 | €19,609 | +€8,383 | +74.7% |
| Trade receivables | 40 | €5,589 | €19,609 | +€14,020 | +250.8% |
| Other amounts receivable | 41 | €5,637 | - | -€5,637 | |
| Cash at bank and in hand | 54/58 | €560,541 | €336,081 | -€224,460 | -40.0% |
| Deferred charges and accrued income | 490/1 | €2,241 | €2,465 | +€224 | +10.0% |
| Total equity and liabilities | 10/49 | €583,420 | €365,255 | -€218,165 | -37.4% |
| Equity | 10/15 | €555,732 | €281,356 | -€274,377 | -49.4% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Outside capital | 11 | €20,451 | €20,451 | = | 0.0% |
| Other | 1109/19 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €534,425 | €259,425 | -€275,000 | -51.5% |
| Tax-exempt reserves | 132 | €26,085 | €26,085 | = | 0.0% |
| Distributable reserves | 133 | €508,340 | €233,340 | -€275,000 | -54.1% |
| Profit (loss) carried forward | 14 | €856 | €1,479 | +€623 | +72.8% |
| Amounts payable | 17/49 | €27,688 | €83,900 | +€56,212 | +203.0% |
| Amounts payable within one year | 42/48 | €27,688 | €83,776 | +€56,088 | +202.6% |
| Trade debts | 44 | €23,217 | €10,989 | -€12,228 | -52.7% |
| Suppliers | 440/4 | €23,217 | €10,989 | -€12,228 | -52.7% |
| Taxes, remuneration and social security | 45 | €3,054 | €7,604 | +€4,549 | +148.9% |
| Taxes | 450/3 | €3,054 | €7,604 | +€4,549 | +148.9% |
| Other amounts payable | 47/48 | €1,417 | €65,183 | +€63,766 | +4500.1% |
| Accrued charges and deferred income | 492/3 | - | €124 | +€124 | |
| Non-recurring operating income | 76A | €36,950 | - | -€36,950 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,636 | €2,311 | -€325 | -12.3% |
| Other operating charges | 640/8 | €2,134 | €585 | -€1,549 | -72.6% |
| Non-recurring operating charges | 66A | €1,124 | - | -€1,124 | |
| Gross operating margin | 9900 | €208,547 | €90,969 | -€117,578 | -56.4% |
| Operating profit (loss) | 9901 | €202,653 | €88,072 | -€114,580 | -56.5% |
| Financial income | 75/76B | €867 | €220 | -€647 | -74.6% |
| Recurring financial income | 75 | €867 | €220 | -€647 | -74.6% |
| Financial charges | 65/66B | €747 | €1,249 | +€502 | +67.1% |
| Recurring financial charges | 65 | €747 | €1,249 | +€502 | +67.1% |
| Profit (loss) for the period before taxes | 9903 | €202,772 | €87,043 | -€115,730 | -57.1% |
| Income taxes | 67/77 | €49,926 | €22,669 | -€27,256 | -54.6% |
| Profit (loss) for the period | 9904 | €152,847 | €64,373 | -€88,473 | -57.9% |
| Profit (loss) for the period to be appropriated | 9905 | €152,847 | €64,373 | -€88,473 | -57.9% |
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.