BEST PRACTICES & MANAGEMENT: 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.
BEST PRACTICES & MANAGEMENT
Largest movements
- Cash +€452,946
up €452,946 (+515%), from €87,939 to €540,885
mainly Current investments (+€251,610) and Net result for the year (+€192,718)
- Current investments -€251,610
no longer reported in 2025 (was €251,610)
- Receivables within one year +€56,963
up €56,963 (+45.1%), from €126,319 to €183,282
of which Trade receivables: +€69,770
- Tangible fixed assets -€38,609
down €38,609 (-18.7%), from €206,938 to €168,329
of which Land and buildings: -€31,877
- Receivables after one year -€29,000
no longer reported in 2025 (was €29,000)
- Reserves +€127,117
up €127,117 (+19.3%), from €659,147 to €786,264
of which Distributable reserves: +€127,117
- Other debts +€26,500
new in 2025: €26,500
- Tax, wage and social debts +€25,415
up €25,415 (+76.2%), from €33,362 to €58,777
- Financial income +€63,620
up €63,620 (+423%), from €15,030 to €78,650
of which Financial income: +€60,832
- Taxes +€8,272
up €8,272 (+15.1%), from €54,736 to €63,009
- Gross operating margin +€3,620
up €3,620 (+1.6%), from €232,940 to €236,560
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 | €709,304 | €897,882 | +€188,578 | +26.6% |
| Formation expenses | 20 | €2,908 | €1,454 | -€1,454 | -50.0% |
| Fixed assets | 21/28 | €206,938 | €168,329 | -€38,609 | -18.7% |
| Tangible fixed assets | 22/27 | €206,938 | €168,329 | -€38,609 | -18.7% |
| Land and buildings | 22 | €102,247 | €70,370 | -€31,877 | -31.2% |
| Plant, machinery and equipment | 23 | €61,775 | €59,217 | -€2,558 | -4.1% |
| Furniture and vehicles | 24 | €11,829 | €7,656 | -€4,173 | -35.3% |
| Other tangible fixed assets | 26 | €31,086 | €31,086 | = | 0.0% |
| Current assets | 29/58 | €499,458 | €728,098 | +€228,641 | +45.8% |
| Amounts receivable after more than one year | 29 | €29,000 | - | -€29,000 | |
| Other amounts receivable | 291 | €29,000 | - | -€29,000 | |
| Amounts receivable within one year | 40/41 | €126,319 | €183,282 | +€56,963 | +45.1% |
| Trade receivables | 40 | €73,130 | €142,900 | +€69,770 | +95.4% |
| Other amounts receivable | 41 | €53,189 | €40,382 | -€12,807 | -24.1% |
| Current investments | 50/53 | €251,610 | - | -€251,610 | |
| Cash at bank and in hand | 54/58 | €87,939 | €540,885 | +€452,946 | +515% |
| Deferred charges and accrued income | 490/1 | €4,590 | €3,932 | -€658 | -14.3% |
| Total equity and liabilities | 10/49 | €709,304 | €897,882 | +€188,578 | +26.6% |
| Equity | 10/15 | €665,347 | €792,464 | +€127,117 | +19.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €659,147 | €786,264 | +€127,117 | +19.3% |
| Tax-exempt reserves | 132 | €20,374 | €20,374 | = | 0.0% |
| Distributable reserves | 133 | €638,773 | €765,890 | +€127,117 | +19.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | 0.0% |
| Amounts payable | 17/49 | €43,957 | €105,418 | +€61,461 | +140% |
| Amounts payable within one year | 42/48 | €43,957 | €105,418 | +€61,461 | +140% |
| Current portion of amounts payable after more than one year | 42 | €2,500 | €2,500 | = | 0.0% |
| Financial debts | 43 | €565 | €3,876 | +€3,310 | +586% |
| Other loans | 439 | €565 | €3,876 | +€3,310 | +586% |
| Trade debts | 44 | €7,529 | €13,765 | +€6,236 | +82.8% |
| Suppliers | 440/4 | €7,529 | €13,765 | +€6,236 | +82.8% |
| Taxes, remuneration and social security | 45 | €33,362 | €58,777 | +€25,415 | +76.2% |
| Taxes | 450/3 | €33,362 | €58,777 | +€25,415 | +76.2% |
| Other amounts payable | 47/48 | - | €26,500 | +€26,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,823 | €55,567 | -€2,255 | -3.9% |
| Other operating charges | 640/8 | €1,890 | €2,108 | +€218 | +11.6% |
| Gross operating margin | 9900 | €232,940 | €236,560 | +€3,620 | +1.6% |
| Operating profit (loss) | 9901 | €173,227 | €178,884 | +€5,657 | +3.3% |
| Financial income | 75/76B | €15,030 | €78,650 | +€63,620 | +423% |
| Recurring financial income | 75 | €3,265 | €64,097 | +€60,832 | +1,863% |
| Non-recurring financial income | 76B | €11,765 | €14,553 | +€2,788 | +23.7% |
| Financial charges | 65/66B | €2,621 | €1,807 | -€814 | -31.0% |
| Recurring financial charges | 65 | €1,616 | €910 | -€706 | -43.7% |
| Non-recurring financial charges | 66B | €1,004 | €897 | -€107 | -10.7% |
| Profit (loss) for the period before taxes | 9903 | €185,636 | €255,727 | +€70,091 | +37.8% |
| Income taxes | 67/77 | €54,736 | €63,009 | +€8,272 | +15.1% |
| Profit (loss) for the period | 9904 | €130,899 | €192,718 | +€61,819 | +47.2% |
| Profit (loss) for the period to be appropriated | 9905 | €130,899 | €192,718 | +€61,819 | +47.2% |
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 18 October 2026 via checked.be.