B 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.
B GROUP
Largest movements
- Cash +€536,523
up €536,523 (+389.0%), from €137,912 to €674,435
mainly Current investments (+€310,438) and Net result for the year (+€158,363)
- Current investments -€310,438
down €310,438 (-26.7%), from €1.2m to €850,669
- Reserves +€158,360
up €158,360 (+12.9%), from €1.2m to €1.4m
- Trade debts +€51,688
up €51,688 (+54.4%), from €95,041 to €146,729
- Gross operating margin +€91,672
up €91,672 (+86.2%), from €106,316 to €197,988
- Taxes +€34,417
up €34,417 (+102.2%), from €33,683 to €68,100
- Financial income +€17,299
up €17,299 (+77.7%), from €22,274 to €39,572
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 | €1,341,087 | €1,553,164 | +€212,077 | +15.8% |
| Fixed assets | 21/28 | €24,220 | €14,436 | -€9,784 | -40.4% |
| Tangible fixed assets | 22/27 | €24,195 | €14,411 | -€9,784 | -40.4% |
| Furniture and vehicles | 24 | €20,228 | €10,444 | -€9,784 | -48.4% |
| Other tangible fixed assets | 26 | €3,967 | €3,967 | = | 0.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €1,316,867 | €1,538,728 | +€221,861 | +16.8% |
| Amounts receivable within one year | 40/41 | €14,282 | €9,367 | -€4,915 | -34.4% |
| Trade receivables | 40 | €1,992 | - | -€1,992 | |
| Other amounts receivable | 41 | €12,290 | €9,367 | -€2,923 | -23.8% |
| Current investments | 50/53 | €1,161,107 | €850,669 | -€310,438 | -26.7% |
| Cash at bank and in hand | 54/58 | €137,912 | €674,435 | +€536,523 | +389.0% |
| Deferred charges and accrued income | 490/1 | €3,566 | €4,257 | +€691 | +19.4% |
| Total equity and liabilities | 10/49 | €1,341,087 | €1,553,164 | +€212,077 | +15.8% |
| Equity | 10/15 | €1,244,398 | €1,402,761 | +€158,363 | +12.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,225,475 | €1,383,835 | +€158,360 | +12.9% |
| Distributable reserves | 133 | €1,225,475 | €1,383,835 | +€158,360 | +12.9% |
| Profit (loss) carried forward | 14 | €323 | €326 | +€3 | +0.8% |
| Amounts payable | 17/49 | €96,689 | €150,403 | +€53,715 | +55.6% |
| Amounts payable within one year | 42/48 | €96,661 | €150,208 | +€53,547 | +55.4% |
| Trade debts | 44 | €95,041 | €146,729 | +€51,688 | +54.4% |
| Suppliers | 440/4 | €95,041 | €146,729 | +€51,688 | +54.4% |
| Taxes, remuneration and social security | 45 | - | €3,258 | +€3,258 | |
| Taxes | 450/3 | - | €3,258 | +€3,258 | |
| Other amounts payable | 47/48 | €1,620 | €221 | -€1,399 | -86.4% |
| Accrued charges and deferred income | 492/3 | €28 | €195 | +€167 | +605.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,661 | €7,718 | +€57 | +0.7% |
| Other operating charges | 640/8 | €396 | €368 | -€27 | -6.9% |
| Non-recurring operating charges | 66A | - | €2,066 | +€2,066 | |
| Gross operating margin | 9900 | €106,316 | €197,988 | +€91,672 | +86.2% |
| Operating profit (loss) | 9901 | €98,259 | €187,835 | +€89,577 | +91.2% |
| Financial income | 75/76B | €22,274 | €39,572 | +€17,299 | +77.7% |
| Recurring financial income | 75 | €22,274 | €39,572 | +€17,299 | +77.7% |
| Financial charges | 65/66B | €1,025 | €945 | -€80 | -7.8% |
| Recurring financial charges | 65 | €1,025 | €945 | -€80 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €119,507 | €226,462 | +€106,955 | +89.5% |
| Income taxes | 67/77 | €33,683 | €68,100 | +€34,417 | +102.2% |
| Profit (loss) for the period | 9904 | €85,824 | €158,363 | +€72,539 | +84.5% |
| Profit (loss) for the period to be appropriated | 9905 | €85,824 | €158,363 | +€72,539 | +84.5% |
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 11 October 2026 via checked.be.