&Beyond: 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.
&Beyond
Largest movements
- Receivables within one year +€349,233
up €349,233 (+4,014%), from €8,700 to €357,933
of which Other amounts receivable: +€334,713
- Cash -€203,080
down €203,080 (-73.7%), from €275,365 to €72,285
mainly Receivables within one year (-€349,233) and Contributions, distributions and other (-€189,571)
- Current investments -€25,000
down €25,000 (-100%), from €25,000 to €0
- Tangible fixed assets -€14,016
down €14,016 (-26.2%), from €53,518 to €39,502
of which Furniture and vehicles: -€10,093
- Financial fixed assets +€10,000
up €10,000 (+7.9%), from €126,880 to €136,880
- Other debts +€182,399
up €182,399 (+15,690%), from €1,163 to €183,562
- Reserves -€26,450
down €26,450 (-6.1%), from €434,275 to €407,825
- Tax, wage and social debts -€22,315
down €22,315 (-70.2%), from €31,767 to €9,452
of which Taxes: -€22,315
- Debts after one year -€9,597
down €9,597 (-92.3%), from €10,402 to €805
- Financial income +€84,735
up €84,735 (+199%), from €42,482 to €127,217
- Taxes -€8,502
down €8,502 (-44.5%), from €19,118 to €10,616
- Gross operating margin +€5,102
up €5,102 (+9.0%), from €56,632 to €61,734
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 | €492,131 | €612,331 | +€120,200 | +24.4% |
| Fixed assets | 21/28 | €180,398 | €176,382 | -€4,016 | -2.2% |
| Tangible fixed assets | 22/27 | €53,518 | €39,502 | -€14,016 | -26.2% |
| Plant, machinery and equipment | 23 | €33,222 | €29,300 | -€3,922 | -11.8% |
| Furniture and vehicles | 24 | €20,295 | €10,202 | -€10,093 | -49.7% |
| Financial fixed assets | 28 | €126,880 | €136,880 | +€10,000 | +7.9% |
| Current assets | 29/58 | €311,734 | €435,949 | +€124,215 | +39.8% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €8,700 | €357,933 | +€349,233 | +4,014% |
| Trade receivables | 40 | €0 | €14,520 | +€14,520 | |
| Other amounts receivable | 41 | €8,700 | €343,413 | +€334,713 | +3,847% |
| Current investments | 50/53 | €25,000 | €0 | -€25,000 | -100% |
| Cash at bank and in hand | 54/58 | €275,365 | €72,285 | -€203,080 | -73.7% |
| Deferred charges and accrued income | 490/1 | €2,668 | €5,730 | +€3,062 | +115% |
| Total equity and liabilities | 10/49 | €492,131 | €612,331 | +€120,200 | +24.4% |
| Equity | 10/15 | €435,275 | €408,825 | -€26,450 | -6.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €434,275 | €407,825 | -€26,450 | -6.1% |
| Distributable reserves | 133 | €434,275 | €407,825 | -€26,450 | -6.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €56,857 | €203,506 | +€146,650 | +258% |
| Amounts payable after more than one year | 17 | €10,402 | €805 | -€9,597 | -92.3% |
| Financial debts | 170/4 | €10,402 | €805 | -€9,597 | -92.3% |
| Amounts payable within one year | 42/48 | €46,454 | €202,701 | +€156,247 | +336% |
| Current portion of amounts payable after more than one year | 42 | €9,484 | €9,597 | +€113 | +1.2% |
| Trade debts | 44 | €4,041 | €90 | -€3,951 | -97.8% |
| Suppliers | 440/4 | €4,041 | €90 | -€3,951 | -97.8% |
| Taxes, remuneration and social security | 45 | €31,767 | €9,452 | -€22,315 | -70.2% |
| Taxes | 450/3 | €29,657 | €7,342 | -€22,315 | -75.2% |
| Remuneration and social security | 454/9 | €2,110 | €2,110 | = | 0.0% |
| Other amounts payable | 47/48 | €1,163 | €183,562 | +€182,399 | +15,690% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,989 | €14,016 | +€27 | +0.2% |
| Other operating charges | 640/8 | €1,354 | €884 | -€470 | -34.7% |
| Gross operating margin | 9900 | €56,632 | €61,734 | +€5,102 | +9.0% |
| Operating profit (loss) | 9901 | €41,289 | €46,834 | +€5,545 | +13.4% |
| Financial income | 75/76B | €42,482 | €127,217 | +€84,735 | +199% |
| Recurring financial income | 75 | €42,482 | €127,217 | +€84,735 | +199% |
| Financial charges | 65/66B | €472 | €313 | -€159 | -33.7% |
| Recurring financial charges | 65 | €472 | €313 | -€159 | -33.7% |
| Profit (loss) for the period before taxes | 9903 | €83,298 | €173,737 | +€90,439 | +109% |
| Income taxes | 67/77 | €19,118 | €10,616 | -€8,502 | -44.5% |
| Profit (loss) for the period | 9904 | €64,180 | €163,121 | +€98,941 | +154% |
| Profit (loss) for the period to be appropriated | 9905 | €64,180 | €163,121 | +€98,941 | +154% |
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 24 October 2026 via checked.be.