BELGIAN CORNER: 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.
BELGIAN CORNER
Largest movements
- Cash -€69,503
down €69,503 (-64.3%), from €108,055 to €38,552
mainly Contributions, distributions and other (-€49,000) and Current investments (-€12,000)
- Current investments +€12,000
up €12,000 (+10.3%), from €116,944 to €128,944
- Tangible fixed assets -€9,899
down €9,899 (-31.4%), from €31,505 to €21,606
of which Plant, machinery and equipment: -€7,135
- Receivables within one year +€8,790
up €8,790 (+34.3%), from €25,651 to €34,441
of which Other amounts receivable: +€11,344
- Reserves -€43,000
down €43,000 (-14.2%), from €301,890 to €258,890
- Tax, wage and social debts -€10,699
down €10,699 (-71.4%), from €14,986 to €4,287
- Profit (loss) carried forward -€4,491
down €4,491 (-8.5%), from €52,831 to €48,340
- Gross operating margin -€90,288
down €90,288 (-91.5%), from €98,693 to €8,406
- Taxes -€18,938
down €18,938 (-95.8%), from €19,767 to €829
- Depreciation +€1,703
up €1,703 (+20.8%), from €8,196 to €9,899
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 | €404,780 | €344,443 | -€60,337 | -14.9% |
| Fixed assets | 21/28 | €31,505 | €21,606 | -€9,899 | -31.4% |
| Tangible fixed assets | 22/27 | €31,505 | €21,606 | -€9,899 | -31.4% |
| Plant, machinery and equipment | 23 | €22,305 | €15,170 | -€7,135 | -32.0% |
| Furniture and vehicles | 24 | €9,201 | €6,437 | -€2,764 | -30.0% |
| Current assets | 29/58 | €373,275 | €322,837 | -€50,438 | -13.5% |
| Amounts receivable after more than one year | 29 | €121,500 | €120,900 | -€600 | -0.5% |
| Trade receivables | 290 | €121,500 | €120,900 | -€600 | -0.5% |
| Amounts receivable within one year | 40/41 | €25,651 | €34,441 | +€8,790 | +34.3% |
| Trade receivables | 40 | €25,651 | €23,097 | -€2,554 | -10.0% |
| Other amounts receivable | 41 | - | €11,344 | +€11,344 | |
| Current investments | 50/53 | €116,944 | €128,944 | +€12,000 | +10.3% |
| Cash at bank and in hand | 54/58 | €108,055 | €38,552 | -€69,503 | -64.3% |
| Deferred charges and accrued income | 490/1 | €1,125 | - | -€1,125 | |
| Total equity and liabilities | 10/49 | €404,780 | €344,443 | -€60,337 | -14.9% |
| Equity | 10/15 | €367,321 | €319,830 | -€47,491 | -12.9% |
| Contributions | 10/11 | €12,600 | €12,600 | = | 0.0% |
| Reserves | 13 | €301,890 | €258,890 | -€43,000 | -14.2% |
| Distributable reserves | 133 | €301,890 | €258,890 | -€43,000 | -14.2% |
| Profit (loss) carried forward | 14 | €52,831 | €48,340 | -€4,491 | -8.5% |
| Amounts payable | 17/49 | €37,459 | €24,613 | -€12,846 | -34.3% |
| Amounts payable within one year | 42/48 | €37,459 | €24,613 | -€12,846 | -34.3% |
| Trade debts | 44 | €17,235 | €16,967 | -€268 | -1.6% |
| Suppliers | 440/4 | €17,235 | €16,967 | -€268 | -1.6% |
| Taxes, remuneration and social security | 45 | €14,986 | €4,287 | -€10,699 | -71.4% |
| Taxes | 450/3 | €14,986 | €4,287 | -€10,699 | -71.4% |
| Other amounts payable | 47/48 | €5,239 | €3,359 | -€1,880 | -35.9% |
| Non-recurring operating income | 76A | €150 | €242 | +€92 | +61.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,196 | €9,899 | +€1,703 | +20.8% |
| Other operating charges | 640/8 | €735 | €422 | -€313 | -42.6% |
| Gross operating margin | 9900 | €98,693 | €8,406 | -€90,288 | -91.5% |
| Operating profit (loss) | 9901 | €89,762 | -€1,915 | -€91,678 | |
| Financial income | 75/76B | €4,261 | €4,405 | +€144 | +3.4% |
| Recurring financial income | 75 | €4,261 | €4,405 | +€144 | +3.4% |
| Financial charges | 65/66B | €638 | €152 | -€486 | -76.2% |
| Recurring financial charges | 65 | €638 | €152 | -€486 | -76.2% |
| Profit (loss) for the period before taxes | 9903 | €93,386 | €2,338 | -€91,048 | -97.5% |
| Income taxes | 67/77 | €19,767 | €829 | -€18,938 | -95.8% |
| Profit (loss) for the period | 9904 | €73,619 | €1,509 | -€72,110 | -97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,619 | €1,509 | -€72,110 | -97.9% |
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 16 October 2026 via checked.be.