BALENCO: what changed
Two fiscal 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.
BALENCO
Largest movements
- Receivables within one year +€37,167
up €37,167 (+132.6%), from €28,021 to €65,188
of which Trade receivables: +€20,570
- Financial fixed assets +€20,000
up €20,000 (+2.6%), from €759,960 to €779,960
- Tangible fixed assets -€9,053
down €9,053 (-49.3%), from €18,380 to €9,326
- Other debts +€141,400
up €141,400 (+96.5%), from €146,540 to €287,940
- Debts after one year -€114,600
down €114,600 (-59.0%), from €194,210 to €79,610
- Reserves +€12,689
up €12,689 (+5.5%), from €230,445 to €243,134
of which Distributable reserves: +€12,689
- Current portion of long-term debt +€11,441
up €11,441 (+16.1%), from €71,277 to €82,718
- Financial income -€21,000
down €21,000 (-100.0%), from €21,000 to €0
- Gross operating margin -€15,284
down €15,284 (-48.1%), from €31,779 to €16,494
- Taxes -€3,632
down €3,632 (-71.3%), from €5,096 to €1,464
- Financial charges -€1,728
down €1,728 (-21.7%), from €7,948 to €6,219
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €807,279 | €855,903 | +€48,624 | +6.0% |
| Fixed assets | 21/28 | €778,340 | €789,286 | +€10,947 | +1.4% |
| Tangible fixed assets | 22/27 | €18,380 | €9,326 | -€9,053 | -49.3% |
| Furniture and vehicles | 24 | €18,380 | €9,326 | -€9,053 | -49.3% |
| Financial fixed assets | 28 | €759,960 | €779,960 | +€20,000 | +2.6% |
| Current assets | 29/58 | €28,939 | €66,616 | +€37,677 | +130.2% |
| Amounts receivable within one year | 40/41 | €28,021 | €65,188 | +€37,167 | +132.6% |
| Trade receivables | 40 | €0 | €20,570 | +€20,570 | |
| Other amounts receivable | 41 | €28,021 | €44,618 | +€16,597 | +59.2% |
| Cash at bank and in hand | 54/58 | €918 | €1,428 | +€510 | +55.6% |
| Total equity and liabilities | 10/49 | €807,279 | €855,903 | +€48,624 | +6.0% |
| Equity | 10/15 | €380,445 | €393,134 | +€12,689 | +3.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €230,445 | €243,134 | +€12,689 | +5.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €230,445 | €243,134 | +€12,689 | +5.5% |
| Amounts payable | 17/49 | €426,834 | €462,768 | +€35,935 | +8.4% |
| Amounts payable after more than one year | 17 | €194,210 | €79,610 | -€114,600 | -59.0% |
| Financial debts | 170/4 | €194,210 | €79,610 | -€114,600 | -59.0% |
| Amounts payable within one year | 42/48 | €232,624 | €383,158 | +€150,535 | +64.7% |
| Current portion of amounts payable after more than one year | 42 | €71,277 | €82,718 | +€11,441 | +16.1% |
| Trade debts | 44 | €1,642 | €4,897 | +€3,255 | +198.3% |
| Suppliers | 440/4 | €1,642 | €4,897 | +€3,255 | +198.3% |
| Taxes, remuneration and social security | 45 | €13,164 | €7,603 | -€5,561 | -42.2% |
| Taxes | 450/3 | €13,164 | €7,603 | -€5,561 | -42.2% |
| Other amounts payable | 47/48 | €146,540 | €287,940 | +€141,400 | +96.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,254 | €4,527 | +€273 | +6.4% |
| Other operating charges | 640/8 | €888 | €704 | -€185 | -20.8% |
| Gross operating margin | 9900 | €31,779 | €16,494 | -€15,284 | -48.1% |
| Operating profit (loss) | 9901 | €26,637 | €11,264 | -€15,373 | -57.7% |
| Financial income | 75/76B | €21,000 | €0 | -€21,000 | -100.0% |
| Recurring financial income | 75 | €21,000 | €0 | -€21,000 | -100.0% |
| Financial charges | 65/66B | €7,948 | €6,219 | -€1,728 | -21.7% |
| Recurring financial charges | 65 | €7,948 | €6,219 | -€1,728 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €39,689 | €5,045 | -€34,644 | -87.3% |
| Income taxes | 67/77 | €5,096 | €1,464 | -€3,632 | -71.3% |
| Profit (loss) for the period | 9904 | €34,593 | €3,580 | -€31,013 | -89.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,593 | €3,580 | -€31,013 | -89.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.