At Group: 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.
At Group
Largest movements
- Receivables within one year -€95,139
down €95,139 (-81.4%), from €116,950 to €21,811
of which Trade receivables: -€96,450
- Cash +€40,423
new in 2025: €40,423
mainly Net result for the year (+€415,771) and Receivables within one year (+€95,139)
- Reserves +€415,771
up €415,771 (+16,419%), from €2,532 to €418,303
- Debts after one year -€251,604
down €251,604 (-44.4%), from €566,089 to €314,485
- Other debts -€246,153
down €246,153 (-35.8%), from €687,948 to €441,796
- Trade debts +€34,387
new in 2025: €34,387
- Financial income +€415,000
new in 2025: €415,000
- Gross operating margin +€9,462
up €9,462 (+26.2%), from €36,093 to €45,555
- Financial charges +€7,473
up €7,473 (+21.3%), from €35,052 to €42,525
- Other operating charges +€1,034
up €1,034 (+203%), from €510 to €1,544
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 | €2,145,258 | €2,090,108 | -€55,150 | -2.6% |
| Formation expenses | 20 | €1,308 | €874 | -€434 | -33.2% |
| Fixed assets | 21/28 | €2,027,000 | €2,027,000 | = | 0.0% |
| Financial fixed assets | 28 | €2,027,000 | €2,027,000 | = | 0.0% |
| Current assets | 29/58 | €116,950 | €62,234 | -€54,716 | -46.8% |
| Amounts receivable within one year | 40/41 | €116,950 | €21,811 | -€95,139 | -81.4% |
| Trade receivables | 40 | €116,950 | €20,500 | -€96,450 | -82.5% |
| Other amounts receivable | 41 | - | €1,311 | +€1,311 | |
| Cash at bank and in hand | 54/58 | - | €40,423 | +€40,423 | |
| Total equity and liabilities | 10/49 | €2,145,258 | €2,090,108 | -€55,150 | -2.6% |
| Equity | 10/15 | €631,532 | €1,047,303 | +€415,771 | +65.8% |
| Contributions | 10/11 | €629,000 | €629,000 | = | 0.0% |
| Reserves | 13 | €2,532 | €418,303 | +€415,771 | +16,419% |
| Distributable reserves | 133 | €2,532 | €418,303 | +€415,771 | +16,419% |
| Amounts payable | 17/49 | €1,513,725 | €1,042,805 | -€470,921 | -31.1% |
| Amounts payable after more than one year | 17 | €566,089 | €314,485 | -€251,604 | -44.4% |
| Financial debts | 170/4 | €566,089 | €314,485 | -€251,604 | -44.4% |
| Amounts payable within one year | 42/48 | €947,636 | €728,320 | -€219,317 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €251,604 | €251,604 | = | 0.0% |
| Trade debts | 44 | - | €34,387 | +€34,387 | |
| Suppliers | 440/4 | - | €34,387 | +€34,387 | |
| Taxes, remuneration and social security | 45 | €8,084 | €533 | -€7,552 | -93.4% |
| Taxes | 450/3 | €8,084 | €533 | -€7,552 | -93.4% |
| Other amounts payable | 47/48 | €687,948 | €441,796 | -€246,153 | -35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €434 | €434 | = | 0.0% |
| Other operating charges | 640/8 | €510 | €1,544 | +€1,034 | +203% |
| Gross operating margin | 9900 | €36,093 | €45,555 | +€9,462 | +26.2% |
| Operating profit (loss) | 9901 | €35,148 | €43,577 | +€8,428 | +24.0% |
| Financial income | 75/76B | - | €415,000 | +€415,000 | |
| Recurring financial income | 75 | - | €415,000 | +€415,000 | |
| Financial charges | 65/66B | €35,052 | €42,525 | +€7,473 | +21.3% |
| Recurring financial charges | 65 | €35,052 | €42,525 | +€7,473 | +21.3% |
| Profit (loss) for the period before taxes | 9903 | €96 | €416,052 | +€415,956 | +432,656% |
| Income taxes | 67/77 | €26 | €281 | +€255 | +971% |
| Profit (loss) for the period | 9904 | €70 | €415,771 | +€415,701 | +594,368% |
| Profit (loss) for the period to be appropriated | 9905 | €70 | €415,771 | +€415,701 | +594,368% |
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 23 October 2026 via checked.be.