BEST SEMINARS: 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 SEMINARS
Largest movements
- Current investments +€200,000
up €200,000, from €0 to €200,000
- Cash -€120,697
down €120,697 (-34.3%), from €352,282 to €231,585
mainly Current investments (-€200,000) and Contributions, distributions and other (-€82,848)
- Receivables within one year -€54,180
down €54,180 (-40.3%), from €134,585 to €80,405
of which Trade receivables: -€59,813
- Tangible fixed assets -€13,464
down €13,464 (-4.9%), from €275,709 to €262,246
- Financial fixed assets +€12,594
new in 2025: €12,594
- Other debts +€61,375
up €61,375 (+185%), from €33,219 to €94,594
- Reserves -€44,960
down €44,960 (-7.5%), from €601,559 to €556,599
of which Distributable reserves: -€44,960
- Tax, wage and social debts +€11,565
up €11,565 (+176%), from €6,570 to €18,135
of which Taxes: +€9,063
- Financial charges +€20,626
up €20,626 (+608%), from €3,391 to €24,017
- Gross operating margin -€17,527
down €17,527 (-13.6%), from €129,023 to €111,496
- Staff costs +€14,765
new in 2025: €14,765
- Taxes -€14,530
down €14,530 (-43.2%), from €33,614 to €19,085
- Depreciation -€5,191
down €5,191 (-25.9%), from €20,007 to €14,816
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 | €767,615 | €791,852 | +€24,237 | +3.2% |
| Fixed assets | 21/28 | €275,709 | €274,839 | -€870 | -0.3% |
| Tangible fixed assets | 22/27 | €275,709 | €262,246 | -€13,464 | -4.9% |
| Land and buildings | 22 | €251,913 | €245,495 | -€6,418 | -2.5% |
| Furniture and vehicles | 24 | €8,237 | €2,337 | -€5,901 | -71.6% |
| Other tangible fixed assets | 26 | €15,559 | €14,414 | -€1,145 | -7.4% |
| Financial fixed assets | 28 | - | €12,594 | +€12,594 | |
| Current assets | 29/58 | €491,906 | €517,012 | +€25,106 | +5.1% |
| Stocks and contracts in progress | 3 | €5,039 | €5,022 | -€17 | -0.3% |
| Stocks | 30/36 | €5,039 | €5,022 | -€17 | -0.3% |
| Amounts receivable within one year | 40/41 | €134,585 | €80,405 | -€54,180 | -40.3% |
| Trade receivables | 40 | €79,965 | €20,152 | -€59,813 | -74.8% |
| Other amounts receivable | 41 | €54,620 | €60,253 | +€5,633 | +10.3% |
| Current investments | 50/53 | €0 | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €352,282 | €231,585 | -€120,697 | -34.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €767,615 | €791,852 | +€24,237 | +3.2% |
| Equity | 10/15 | €608,759 | €563,799 | -€44,960 | -7.4% |
| Contributions | 10/11 | €7,200 | €7,200 | = | 0.0% |
| Reserves | 13 | €601,559 | €556,599 | -€44,960 | -7.5% |
| Tax-exempt reserves | 132 | €410 | €410 | = | 0.0% |
| Distributable reserves | 133 | €601,150 | €556,189 | -€44,960 | -7.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €158,856 | €228,053 | +€69,197 | +43.6% |
| Amounts payable within one year | 42/48 | €71,699 | €143,478 | +€71,780 | +100% |
| Trade debts | 44 | €31,909 | €30,749 | -€1,160 | -3.6% |
| Suppliers | 440/4 | €31,909 | €30,749 | -€1,160 | -3.6% |
| Taxes, remuneration and social security | 45 | €6,570 | €18,135 | +€11,565 | +176% |
| Taxes | 450/3 | €6,570 | €15,634 | +€9,063 | +138% |
| Remuneration and social security | 454/9 | - | €2,501 | +€2,501 | |
| Other amounts payable | 47/48 | €33,219 | €94,594 | +€61,375 | +185% |
| Accrued charges and deferred income | 492/3 | €87,157 | €84,574 | -€2,583 | -3.0% |
| Remuneration, social security and pensions | 62 | - | €14,765 | +€14,765 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,007 | €14,816 | -€5,191 | -25.9% |
| Other operating charges | 640/8 | €2,230 | €1,553 | -€676 | -30.3% |
| Gross operating margin | 9900 | €129,023 | €111,496 | -€17,527 | -13.6% |
| Operating profit (loss) | 9901 | €106,786 | €80,362 | -€26,424 | -24.7% |
| Financial income | 75/76B | €1,311 | €627 | -€684 | -52.2% |
| Recurring financial income | 75 | €1,311 | €627 | -€684 | -52.2% |
| Financial charges | 65/66B | €3,391 | €24,017 | +€20,626 | +608% |
| Recurring financial charges | 65 | €3,391 | €24,017 | +€20,626 | +608% |
| Profit (loss) for the period before taxes | 9903 | €104,706 | €56,972 | -€47,734 | -45.6% |
| Income taxes | 67/77 | €33,614 | €19,085 | -€14,530 | -43.2% |
| Profit (loss) for the period | 9904 | €71,091 | €37,888 | -€33,204 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €71,091 | €37,888 | -€33,204 | -46.7% |
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 22 October 2026 via checked.be.