BalanST: 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.
BalanST
Largest movements
- Financial fixed assets +€105,405
up €105,405 (+33.0%), from €319,818 to €425,223
- Tangible fixed assets -€83,812
down €83,812 (-89.5%), from €93,628 to €9,816
of which Furniture and vehicles: -€81,495
- Receivables within one year +€70,648
up €70,648 (+1,553%), from €4,549 to €75,197
- Current investments +€60,000
up €60,000 (+259%), from €23,209 to €83,209
- Cash +€7,613
up €7,613 (+47.6%), from €15,990 to €23,603
mainly Net result for the year (+€237,445) and Tax, wage and social debts (+€9,414)
- Reserves +€199,754
up €199,754 (+65.6%), from €304,722 to €504,476
- Debts after one year -€43,603
down €43,603 (-100%), from €43,603 to €0
- Current portion of long-term debt -€12,396
down €12,396 (-100%), from €12,396 to €0
- Tax, wage and social debts +€9,414
up €9,414 (+84.8%), from €11,105 to €20,519
- Other debts +€8,470
up €8,470 (+13.4%), from €63,221 to €71,691
- Gross operating margin +€149,893
up €149,893 (+223%), from €67,203 to €217,095
- Financial income +€95,217
up €95,217 (+41,282%), from €231 to €95,448
- Taxes +€37,446
up €37,446 (+232%), from €16,122 to €53,568
- Depreciation -€18,224
down €18,224 (-88.4%), from €20,611 to €2,387
- Other operating charges -€7,118
down €7,118 (-63.2%), from €11,255 to €4,137
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 | €457,194 | €619,123 | +€161,928 | +35.4% |
| Fixed assets | 21/28 | €413,446 | €435,039 | +€21,593 | +5.2% |
| Tangible fixed assets | 22/27 | €93,628 | €9,816 | -€83,812 | -89.5% |
| Plant, machinery and equipment | 23 | €1,134 | €0 | -€1,134 | -100% |
| Furniture and vehicles | 24 | €88,984 | €7,490 | -€81,495 | -91.6% |
| Other tangible fixed assets | 26 | €3,510 | €2,326 | -€1,183 | -33.7% |
| Financial fixed assets | 28 | €319,818 | €425,223 | +€105,405 | +33.0% |
| Current assets | 29/58 | €43,748 | €184,083 | +€140,335 | +321% |
| Amounts receivable within one year | 40/41 | €4,549 | €75,197 | +€70,648 | +1,553% |
| Other amounts receivable | 41 | €4,549 | €75,197 | +€70,648 | +1,553% |
| Current investments | 50/53 | €23,209 | €83,209 | +€60,000 | +259% |
| Cash at bank and in hand | 54/58 | €15,990 | €23,603 | +€7,613 | +47.6% |
| Deferred charges and accrued income | 490/1 | - | €2,074 | +€2,074 | |
| Total equity and liabilities | 10/49 | €457,194 | €619,123 | +€161,928 | +35.4% |
| Equity | 10/15 | €324,722 | €524,476 | +€199,754 | +61.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €304,722 | €504,476 | +€199,754 | +65.6% |
| Distributable reserves | 133 | €304,722 | €504,476 | +€199,754 | +65.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €132,472 | €94,646 | -€37,826 | -28.6% |
| Amounts payable after more than one year | 17 | €43,603 | €0 | -€43,603 | -100% |
| Financial debts | 170/4 | €43,603 | €0 | -€43,603 | -100% |
| Amounts payable within one year | 42/48 | €88,870 | €94,646 | +€5,777 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €12,396 | €0 | -€12,396 | -100% |
| Trade debts | 44 | €2,147 | €2,436 | +€289 | +13.5% |
| Suppliers | 440/4 | €2,147 | €2,436 | +€289 | +13.5% |
| Taxes, remuneration and social security | 45 | €11,105 | €20,519 | +€9,414 | +84.8% |
| Taxes | 450/3 | €11,105 | €20,519 | +€9,414 | +84.8% |
| Other amounts payable | 47/48 | €63,221 | €71,691 | +€8,470 | +13.4% |
| Non-recurring operating income | 76A | - | €104,863 | +€104,863 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,611 | €2,387 | -€18,224 | -88.4% |
| Other operating charges | 640/8 | €11,255 | €4,137 | -€7,118 | -63.2% |
| Non-recurring operating charges | 66A | - | €11,156 | +€11,156 | |
| Gross operating margin | 9900 | €67,203 | €217,095 | +€149,893 | +223% |
| Operating profit (loss) | 9901 | €35,336 | €199,415 | +€164,079 | +464% |
| Financial income | 75/76B | €231 | €95,448 | +€95,217 | +41,282% |
| Recurring financial income | 75 | €231 | €95,448 | +€95,217 | +41,282% |
| Financial charges | 65/66B | €2,221 | €3,850 | +€1,630 | +73.4% |
| Recurring financial charges | 65 | €2,221 | €3,850 | +€1,630 | +73.4% |
| Profit (loss) for the period before taxes | 9903 | €33,347 | €291,013 | +€257,667 | +773% |
| Income taxes | 67/77 | €16,122 | €53,568 | +€37,446 | +232% |
| Profit (loss) for the period | 9904 | €17,224 | €237,445 | +€220,221 | +1,279% |
| Profit (loss) for the period to be appropriated | 9905 | €17,224 | €237,445 | +€220,221 | +1,279% |
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 14 October 2026 via checked.be.