Beeldkanon: 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.
Beeldkanon
Largest movements
- Tangible fixed assets -€50,701
down €50,701 (-15.8%), from €320,515 to €269,815
of which Plant, machinery and equipment: -€33,461
- Cash +€38,780
up €38,780 (+21.0%), from €184,961 to €223,740
mainly Depreciation (+€69,206) and Net result for the year (+€55,920)
- Debts after one year -€37,243
down €37,243 (-65.1%), from €57,189 to €19,945
- Reserves +€19,900
up €19,900 (+8.7%), from €228,900 to €248,800
- Current portion of long-term debt -€10,030
down €10,030 (-21.2%), from €47,274 to €37,243
- Tax, wage and social debts +€7,361
up €7,361 (+82.0%), from €8,973 to €16,334
- Gross operating margin +€29,917
up €29,917 (+24.0%), from €124,714 to €154,631
- Taxes +€7,886
up €7,886 (+55.7%), from €14,152 to €22,038
- Depreciation +€2,615
up €2,615 (+3.9%), from €66,591 to €69,206
- Other operating charges +€1,765
up €1,765 (+59.2%), from €2,981 to €4,746
- Financial income +€1,610
up €1,610 (+119.6%), from €1,346 to €2,957
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 | €551,836 | €536,226 | -€15,610 | -2.8% |
| Fixed assets | 21/28 | €320,515 | €269,815 | -€50,701 | -15.8% |
| Tangible fixed assets | 22/27 | €320,515 | €269,815 | -€50,701 | -15.8% |
| Land and buildings | 22 | €170,833 | €162,982 | -€7,851 | -4.6% |
| Plant, machinery and equipment | 23 | €118,829 | €85,369 | -€33,461 | -28.2% |
| Furniture and vehicles | 24 | €3,632 | €3,993 | +€361 | +9.9% |
| Leasing and similar rights | 25 | €27,221 | €17,471 | -€9,750 | -35.8% |
| Current assets | 29/58 | €231,321 | €266,411 | +€35,091 | +15.2% |
| Amounts receivable within one year | 40/41 | €44,527 | €42,671 | -€1,856 | -4.2% |
| Trade receivables | 40 | €43,916 | €42,225 | -€1,692 | -3.9% |
| Other amounts receivable | 41 | €610 | €446 | -€164 | -26.9% |
| Cash at bank and in hand | 54/58 | €184,961 | €223,740 | +€38,780 | +21.0% |
| Deferred charges and accrued income | 490/1 | €1,833 | €0 | -€1,833 | -100.0% |
| Total equity and liabilities | 10/49 | €551,836 | €536,226 | -€15,610 | -2.8% |
| Equity | 10/15 | €410,771 | €430,691 | +€19,920 | +4.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €228,900 | €248,800 | +€19,900 | +8.7% |
| Distributable reserves | 133 | €228,900 | €248,800 | +€19,900 | +8.7% |
| Profit (loss) carried forward | 14 | €169,471 | €169,491 | +€20 | 0.0% |
| Amounts payable | 17/49 | €141,065 | €105,535 | -€35,530 | -25.2% |
| Amounts payable after more than one year | 17 | €57,189 | €19,945 | -€37,243 | -65.1% |
| Financial debts | 170/4 | €57,189 | €19,945 | -€37,243 | -65.1% |
| Amounts payable within one year | 42/48 | €83,876 | €85,589 | +€1,713 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €47,274 | €37,243 | -€10,030 | -21.2% |
| Trade debts | 44 | €12,235 | €13,247 | +€1,012 | +8.3% |
| Suppliers | 440/4 | €12,235 | €13,247 | +€1,012 | +8.3% |
| Advances received on contracts in progress | 46 | €570 | €1,393 | +€823 | +144.4% |
| Taxes, remuneration and social security | 45 | €8,973 | €16,334 | +€7,361 | +82.0% |
| Taxes | 450/3 | €8,973 | €16,334 | +€7,361 | +82.0% |
| Other amounts payable | 47/48 | €14,824 | €17,371 | +€2,547 | +17.2% |
| Non-recurring operating income | 76A | €9,509 | €23,407 | +€13,898 | +146.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,591 | €69,206 | +€2,615 | +3.9% |
| Other operating charges | 640/8 | €2,981 | €4,746 | +€1,765 | +59.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €124,714 | €154,631 | +€29,917 | +24.0% |
| Operating profit (loss) | 9901 | €55,141 | €80,678 | +€25,537 | +46.3% |
| Financial income | 75/76B | €1,346 | €2,957 | +€1,610 | +119.6% |
| Recurring financial income | 75 | €1,346 | €2,957 | +€1,610 | +119.6% |
| Financial charges | 65/66B | €6,353 | €5,677 | -€676 | -10.6% |
| Recurring financial charges | 65 | €6,353 | €5,677 | -€676 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €50,134 | €77,958 | +€27,824 | +55.5% |
| Income taxes | 67/77 | €14,152 | €22,038 | +€7,886 | +55.7% |
| Profit (loss) for the period | 9904 | €35,982 | €55,920 | +€19,938 | +55.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,982 | €55,920 | +€19,938 | +55.4% |
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 12 October 2026 via checked.be.