BALANCED PORTFOLIO: 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.
BALANCED PORTFOLIO
Largest movements
- Current investments +€49,343
up €49,343 (+32.1%), from €153,752 to €203,096
- Tangible fixed assets -€10,590
down €10,590 (-72.3%), from €14,642 to €4,052
of which Furniture and vehicles: -€10,590
- Profit (loss) carried forward +€22,025
up €22,025 (+110%), from €20,098 to €42,122
- Trade debts +€12,655
up €12,655 (+50.4%), from €25,131 to €37,786
- Tax, wage and social debts +€8,707
up €8,707 (+10.6%), from €82,511 to €91,219
of which Taxes: +€8,707
- Gross operating margin -€14,162
down €14,162 (-98.5%), from -€14,380 to -€28,542
- Staff costs -€512
down €512 (-15.1%), from €3,397 to €2,885
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 | €460,561 | €503,324 | +€42,763 | +9.3% |
| Fixed assets | 21/28 | €14,642 | €4,052 | -€10,590 | -72.3% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €14,642 | €4,052 | -€10,590 | -72.3% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €14,642 | €4,052 | -€10,590 | -72.3% |
| Current assets | 29/58 | €445,919 | €499,272 | +€53,353 | +12.0% |
| Amounts receivable within one year | 40/41 | €16,590 | €16,670 | +€80 | +0.5% |
| Trade receivables | 40 | €15,087 | €15,087 | = | 0.0% |
| Other amounts receivable | 41 | €1,503 | €1,583 | +€80 | +5.3% |
| Current investments | 50/53 | €153,752 | €203,096 | +€49,343 | +32.1% |
| Cash at bank and in hand | 54/58 | €275,576 | €279,506 | +€3,930 | +1.4% |
| Total equity and liabilities | 10/49 | €460,561 | €503,324 | +€42,763 | +9.3% |
| Equity | 10/15 | €238,698 | €260,722 | +€22,025 | +9.2% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €196,600 | €196,600 | = | 0.0% |
| Distributable reserves | 133 | €196,600 | €196,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,098 | €42,122 | +€22,025 | +110% |
| Amounts payable | 17/49 | €221,864 | €242,602 | +€20,738 | +9.3% |
| Amounts payable within one year | 42/48 | €221,864 | €242,602 | +€20,738 | +9.3% |
| Trade debts | 44 | €25,131 | €37,786 | +€12,655 | +50.4% |
| Suppliers | 440/4 | €25,131 | €37,786 | +€12,655 | +50.4% |
| Taxes, remuneration and social security | 45 | €82,511 | €91,219 | +€8,707 | +10.6% |
| Taxes | 450/3 | €4,711 | €13,419 | +€8,707 | +185% |
| Remuneration and social security | 454/9 | €77,800 | €77,800 | = | 0.0% |
| Other amounts payable | 47/48 | €114,221 | €113,597 | -€624 | -0.5% |
| Remuneration, social security and pensions | 62 | €3,397 | €2,885 | -€512 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,590 | €10,590 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€14,380 | -€28,542 | -€14,162 | -98.5% |
| Operating profit (loss) | 9901 | -€28,755 | -€42,417 | -€13,662 | -47.5% |
| Profit (loss) for the period before taxes | 9903 | -€28,755 | -€42,417 | -€13,662 | -47.5% |
| Profit (loss) for the period | 9904 | -€28,755 | -€42,417 | -€13,662 | -47.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,755 | -€42,417 | -€13,662 | -47.5% |
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 13 October 2026 via checked.be.