BENCHMARK: 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.
BENCHMARK
Largest movements
- Receivables within one year -€162,865
down €162,865 (-20.5%), from €795,726 to €632,861
of which Other amounts receivable: -€166,396
- Tangible fixed assets +€113,778
up €113,778 (+7.9%), from €1.4m to €1.6m
of which Furniture and vehicles: +€83,060
- Cash -€54,536
down €54,536 (-4.4%), from €1.2m to €1.2m
mainly Contributions, distributions and other (-€401,948) and Investment in fixed assets (net) (-€183,396)
- Reserves -€392,768
down €392,768 (-8.5%), from €4.6m to €4.2m
of which Distributable reserves: -€392,768
- Other debts +€276,623
up €276,623 (+463.0%), from €59,744 to €336,367
- Trade debts +€48,412
up €48,412 (+3830.0%), from €1,264 to €49,676
- Financial income -€24,842
down €24,842 (-56.2%), from €44,234 to €19,392
- Taxes -€18,207
down €18,207 (-29.5%), from €61,683 to €43,476
- Depreciation -€14,531
down €14,531 (-17.3%), from €84,149 to €69,618
- Gross operating margin -€12,248
down €12,248 (-9.4%), from €130,133 to €117,884
- Financial charges +€1,749
up €1,749 (+30.2%), from €5,787 to €7,536
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 | €4,711,275 | €4,638,066 | -€73,209 | -1.6% |
| Fixed assets | 21/28 | €1,444,137 | €1,557,915 | +€113,778 | +7.9% |
| Tangible fixed assets | 22/27 | €1,444,137 | €1,557,915 | +€113,778 | +7.9% |
| Land and buildings | 22 | €1,162,733 | €1,195,597 | +€32,864 | +2.8% |
| Plant, machinery and equipment | 23 | €5,188 | €3,042 | -€2,146 | -41.4% |
| Furniture and vehicles | 24 | €227,225 | €310,285 | +€83,060 | +36.6% |
| Other tangible fixed assets | 26 | €48,991 | €48,991 | = | 0.0% |
| Current assets | 29/58 | €3,267,138 | €3,080,151 | -€186,987 | -5.7% |
| Amounts receivable within one year | 40/41 | €795,726 | €632,861 | -€162,865 | -20.5% |
| Trade receivables | 40 | €34,584 | €38,115 | +€3,531 | +10.2% |
| Other amounts receivable | 41 | €761,142 | €594,746 | -€166,396 | -21.9% |
| Current investments | 50/53 | €1,221,505 | €1,251,054 | +€29,549 | +2.4% |
| Cash at bank and in hand | 54/58 | €1,233,833 | €1,179,297 | -€54,536 | -4.4% |
| Deferred charges and accrued income | 490/1 | €16,074 | €16,938 | +€865 | +5.4% |
| Total equity and liabilities | 10/49 | €4,711,275 | €4,638,066 | -€73,209 | -1.6% |
| Equity | 10/15 | €4,614,436 | €4,221,668 | -€392,768 | -8.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €4,595,886 | €4,203,118 | -€392,768 | -8.5% |
| Non-distributable reserves | 130/1 | €562,160 | €562,160 | = | 0.0% |
| Reserves not available under the articles | 1311 | €562,160 | €562,160 | = | 0.0% |
| Distributable reserves | 133 | €4,033,726 | €3,640,958 | -€392,768 | -9.7% |
| Amounts payable | 17/49 | €96,839 | €416,398 | +€319,559 | +330.0% |
| Amounts payable within one year | 42/48 | €96,839 | €416,398 | +€319,559 | +330.0% |
| Trade debts | 44 | €1,264 | €49,676 | +€48,412 | +3830.0% |
| Suppliers | 440/4 | €1,264 | €49,676 | +€48,412 | +3830.0% |
| Taxes, remuneration and social security | 45 | €35,831 | €30,355 | -€5,476 | -15.3% |
| Taxes | 450/3 | €30,248 | €27,555 | -€2,693 | -8.9% |
| Remuneration and social security | 454/9 | €5,583 | €2,800 | -€2,783 | -49.8% |
| Other amounts payable | 47/48 | €59,744 | €336,367 | +€276,623 | +463.0% |
| Non-recurring operating income | 76A | - | €19,067 | +€19,067 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,149 | €69,618 | -€14,531 | -17.3% |
| Other operating charges | 640/8 | €6,661 | €7,467 | +€806 | +12.1% |
| Gross operating margin | 9900 | €130,133 | €117,884 | -€12,248 | -9.4% |
| Operating profit (loss) | 9901 | €39,322 | €40,799 | +€1,477 | +3.8% |
| Financial income | 75/76B | €44,234 | €19,392 | -€24,842 | -56.2% |
| Recurring financial income | 75 | €44,234 | €19,392 | -€24,842 | -56.2% |
| Financial charges | 65/66B | €5,787 | €7,536 | +€1,749 | +30.2% |
| Recurring financial charges | 65 | €5,787 | €7,536 | +€1,749 | +30.2% |
| Profit (loss) for the period before taxes | 9903 | €77,769 | €52,655 | -€25,114 | -32.3% |
| Income taxes | 67/77 | €61,683 | €43,476 | -€18,207 | -29.5% |
| Profit (loss) for the period | 9904 | €16,086 | €9,179 | -€6,906 | -42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,086 | €9,179 | -€6,906 | -42.9% |
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 5 October 2026 via checked.be.