BELGIUM DIFFUSION: 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.
BELGIUM DIFFUSION
Largest movements
- Cash -€253,810
down €253,810 (-99.3%), from €255,511 to €1,702
mainly Receivables within one year (-€199,904) and Other debts (-€28,910)
- Receivables within one year +€199,904
up €199,904 (+68.1%), from €293,716 to €493,620
- Other debts -€28,910
down €28,910 (-96.9%), from €29,821 to €911
- Trade debts -€21,661
down €21,661 (-99.3%), from €21,820 to €159
- Gross operating margin +€4,969
up €4,969 (+104.9%), from €4,735 to €9,704
- Financial charges +€4,895
up €4,895 (+121.3%), from €4,036 to €8,932
- Financial income +€2,212
up €2,212 (+14.3%), from €15,441 to €17,653
- Other operating charges +€1,797
up €1,797 (+82.6%), from €2,177 to €3,974
- Depreciation +€203
up €203 (+3.7%), from €5,504 to €5,707
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 | €779,912 | €733,089 | -€46,823 | -6.0% |
| Fixed assets | 21/28 | €230,684 | €237,767 | +€7,082 | +3.1% |
| Tangible fixed assets | 22/27 | €230,684 | €237,767 | +€7,082 | +3.1% |
| Land and buildings | 22 | €227,503 | €222,216 | -€5,288 | -2.3% |
| Assets under construction and advance payments | 27 | €3,181 | €15,551 | +€12,370 | +388.9% |
| Current assets | 29/58 | €549,228 | €495,322 | -€53,906 | -9.8% |
| Amounts receivable within one year | 40/41 | €293,716 | €493,620 | +€199,904 | +68.1% |
| Other amounts receivable | 41 | €293,716 | €493,620 | +€199,904 | +68.1% |
| Cash at bank and in hand | 54/58 | €255,511 | €1,702 | -€253,810 | -99.3% |
| Total equity and liabilities | 10/49 | €779,912 | €733,089 | -€46,823 | -6.0% |
| Equity | 10/15 | €545,226 | €551,078 | +€5,851 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €478,333 | €484,184 | +€5,851 | +1.2% |
| Tax-exempt reserves | 132 | €299,928 | €297,044 | -€2,884 | -1.0% |
| Distributable reserves | 133 | €178,405 | €187,140 | +€8,735 | +4.9% |
| Profit (loss) carried forward | 14 | €48,294 | €48,294 | = | 0.0% |
| Provisions and deferred taxes | 16 | €111,147 | €109,662 | -€1,485 | -1.3% |
| Deferred taxes | 168 | €111,147 | €109,662 | -€1,485 | -1.3% |
| Amounts payable | 17/49 | €123,539 | €72,349 | -€51,190 | -41.4% |
| Amounts payable after more than one year | 17 | €63,501 | €60,324 | -€3,177 | -5.0% |
| Financial debts | 170/4 | €63,501 | €59,324 | -€4,177 | -6.6% |
| Other amounts payable | 178/9 | - | €1,000 | +€1,000 | |
| Amounts payable within one year | 42/48 | €60,038 | €12,004 | -€48,034 | -80.0% |
| Current portion of amounts payable after more than one year | 42 | €4,052 | €4,177 | +€125 | +3.1% |
| Trade debts | 44 | €21,820 | €159 | -€21,661 | -99.3% |
| Suppliers | 440/4 | €21,820 | €159 | -€21,661 | -99.3% |
| Taxes, remuneration and social security | 45 | €4,345 | €6,757 | +€2,412 | +55.5% |
| Taxes | 450/3 | €4,345 | €6,757 | +€2,412 | +55.5% |
| Other amounts payable | 47/48 | €29,821 | €911 | -€28,910 | -96.9% |
| Accrued charges and deferred income | 492/3 | - | €21 | +€21 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,504 | €5,707 | +€203 | +3.7% |
| Other operating charges | 640/8 | €2,177 | €3,974 | +€1,797 | +82.6% |
| Gross operating margin | 9900 | €4,735 | €9,704 | +€4,969 | +104.9% |
| Operating profit (loss) | 9901 | -€2,946 | €23 | +€2,969 | |
| Financial income | 75/76B | €15,441 | €17,653 | +€2,212 | +14.3% |
| Recurring financial income | 75 | €15,441 | €17,653 | +€2,212 | +14.3% |
| Financial charges | 65/66B | €4,036 | €8,932 | +€4,895 | +121.3% |
| Recurring financial charges | 65 | €4,036 | €8,932 | +€4,895 | +121.3% |
| Profit (loss) for the period before taxes | 9903 | €8,459 | €8,744 | +€285 | +3.4% |
| Transfer from deferred taxes | 780 | €1,485 | €1,485 | = | 0.0% |
| Income taxes | 67/77 | €4,259 | €4,378 | +€119 | +2.8% |
| Profit (loss) for the period | 9904 | €5,685 | €5,851 | +€166 | +2.9% |
| Transfer from tax-exempt reserves | 789 | €2,884 | €2,884 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,569 | €8,735 | +€166 | +1.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 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.