Asterisk: 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.
Asterisk
Largest movements
- Cash -€20,575
down €20,575 (-42.6%), from €48,247 to €27,672
mainly Contributions, distributions and other (-€64,021) and Investment in fixed assets (net) (-€14,475)
- Stocks and contracts +€13,309
up €13,309 (+106%), from €12,576 to €25,885
- Tangible fixed assets +€7,866
up €7,866 (+24.0%), from €32,742 to €40,608
of which Furniture and vehicles: +€9,767
- Receivables within one year +€2,722
up €2,722 (+13.6%), from €20,076 to €22,798
of which Other amounts receivable: +€3,128
- Financial fixed assets -€2,550
no longer reported in 2025 (was €2,550)
- Reserves -€22,262
down €22,262 (-34.3%), from €64,935 to €42,673
of which Distributable reserves: -€22,262
- Current portion of long-term debt +€18,196
up €18,196 (+607%), from €2,996 to €21,192
- Tax, wage and social debts +€7,312
up €7,312 (+34.6%), from €21,153 to €28,466
of which Remuneration and social security: +€5,454
- Debts after one year -€3,184
down €3,184 (-85.3%), from €3,734 to €550
- Other debts +€3,140
new in 2025: €3,140
- Gross operating margin +€62,577
up €62,577 (+62.5%), from €100,194 to €162,771
- Staff costs +€36,196
up €36,196 (+65.2%), from €55,505 to €91,702
- Taxes +€8,846
up €8,846 (+137%), from €6,446 to €15,291
- Other operating charges -€3,383
down €3,383 (-84.5%), from €4,005 to €622
- Depreciation +€2,327
up €2,327 (+33.4%), from €6,976 to €9,303
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 | €116,743 | €118,053 | +€1,310 | +1.1% |
| Fixed assets | 21/28 | €35,843 | €41,015 | +€5,172 | +14.4% |
| Intangible fixed assets | 21 | €552 | €408 | -€144 | -26.1% |
| Tangible fixed assets | 22/27 | €32,742 | €40,608 | +€7,866 | +24.0% |
| Plant, machinery and equipment | 23 | €201 | €2,226 | +€2,025 | +1,009% |
| Furniture and vehicles | 24 | €11,126 | €20,893 | +€9,767 | +87.8% |
| Other tangible fixed assets | 26 | €21,415 | €17,489 | -€3,926 | -18.3% |
| Financial fixed assets | 28 | €2,550 | - | -€2,550 | |
| Current assets | 29/58 | €80,900 | €77,038 | -€3,862 | -4.8% |
| Stocks and contracts in progress | 3 | €12,576 | €25,885 | +€13,309 | +106% |
| Stocks | 30/36 | €12,576 | €25,885 | +€13,309 | +106% |
| Amounts receivable within one year | 40/41 | €20,076 | €22,798 | +€2,722 | +13.6% |
| Trade receivables | 40 | €16,933 | €16,527 | -€406 | -2.4% |
| Other amounts receivable | 41 | €3,144 | €6,272 | +€3,128 | +99.5% |
| Cash at bank and in hand | 54/58 | €48,247 | €27,672 | -€20,575 | -42.6% |
| Deferred charges and accrued income | 490/1 | - | €682 | +€682 | |
| Total equity and liabilities | 10/49 | €116,743 | €118,053 | +€1,310 | +1.1% |
| Equity | 10/15 | €84,935 | €62,673 | -€22,262 | -26.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €64,935 | €42,673 | -€22,262 | -34.3% |
| Non-distributable reserves | 130/1 | €914 | €914 | = | 0.0% |
| Reserves not available under the articles | 1311 | €914 | €914 | = | 0.0% |
| Distributable reserves | 133 | €64,021 | €41,759 | -€22,262 | -34.8% |
| Amounts payable | 17/49 | €31,808 | €55,380 | +€23,572 | +74.1% |
| Amounts payable after more than one year | 17 | €3,734 | €550 | -€3,184 | -85.3% |
| Financial debts | 170/4 | €3,734 | €550 | -€3,184 | -85.3% |
| Amounts payable within one year | 42/48 | €27,641 | €54,830 | +€27,190 | +98.4% |
| Current portion of amounts payable after more than one year | 42 | €2,996 | €21,192 | +€18,196 | +607% |
| Trade debts | 44 | €3,491 | €2,032 | -€1,459 | -41.8% |
| Suppliers | 440/4 | €3,491 | €2,032 | -€1,459 | -41.8% |
| Taxes, remuneration and social security | 45 | €21,153 | €28,466 | +€7,312 | +34.6% |
| Taxes | 450/3 | €13,240 | €15,098 | +€1,859 | +14.0% |
| Remuneration and social security | 454/9 | €7,914 | €13,368 | +€5,454 | +68.9% |
| Other amounts payable | 47/48 | - | €3,140 | +€3,140 | |
| Accrued charges and deferred income | 492/3 | €434 | - | -€434 | |
| Non-recurring operating income | 76A | €1,240 | - | -€1,240 | |
| Remuneration, social security and pensions | 62 | €55,505 | €91,702 | +€36,196 | +65.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,976 | €9,303 | +€2,327 | +33.4% |
| Other operating charges | 640/8 | €4,005 | €622 | -€3,383 | -84.5% |
| Non-recurring operating charges | 66A | - | €1,798 | +€1,798 | |
| Gross operating margin | 9900 | €100,194 | €162,771 | +€62,577 | +62.5% |
| Operating profit (loss) | 9901 | €33,708 | €59,346 | +€25,638 | +76.1% |
| Financial income | 75/76B | €281 | €693 | +€412 | +147% |
| Recurring financial income | 75 | €281 | €693 | +€412 | +147% |
| Financial charges | 65/66B | €3,316 | €2,990 | -€326 | -9.8% |
| Recurring financial charges | 65 | €3,316 | €2,990 | -€326 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €30,673 | €57,050 | +€26,376 | +86.0% |
| Income taxes | 67/77 | €6,446 | €15,291 | +€8,846 | +137% |
| Profit (loss) for the period | 9904 | €24,228 | €41,759 | +€17,531 | +72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,228 | €41,759 | +€17,531 | +72.4% |
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 17 October 2026 via checked.be.