Big Five: 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.
Big Five
Largest movements
- Tangible fixed assets +€24,800
up €24,800 (+21.4%), from €115,814 to €140,613
of which Land and buildings: +€25,924
- Cash -€16,998
down €16,998 (-38.4%), from €44,285 to €27,288
mainly Investment in fixed assets (net) (-€31,650) and Other debts (-€21,896)
- Receivables within one year +€5,249
up €5,249 (+9.8%), from €53,487 to €58,736
of which Trade receivables: +€9,939
- Reserves +€41,174
up €41,174 (+459%), from €8,969 to €50,143
- Other debts -€21,896
down €21,896 (-22.5%), from €97,492 to €75,595
- Debts after one year -€12,495
down €12,495 (-17.8%), from €70,256 to €57,761
- Tax, wage and social debts +€5,192
up €5,192 (+37.0%), from €14,044 to €19,236
- Financial charges -€9,001
down €9,001 (-51.4%), from €17,511 to €8,509
of which Non-recurring financial charges: -€13,750
- Gross operating margin +€8,294
up €8,294 (+13.6%), from €60,877 to €69,171
- Depreciation +€3,032
up €3,032 (+79.4%), from €3,818 to €6,850
- Taxes +€2,734
up €2,734 (+31.9%), from €8,574 to €11,309
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 | €214,096 | €227,176 | +€13,080 | +6.1% |
| Fixed assets | 21/28 | €115,814 | €140,613 | +€24,800 | +21.4% |
| Tangible fixed assets | 22/27 | €115,814 | €140,613 | +€24,800 | +21.4% |
| Land and buildings | 22 | €111,150 | €137,074 | +€25,924 | +23.3% |
| Plant, machinery and equipment | 23 | €1,059 | €392 | -€667 | -63.0% |
| Furniture and vehicles | 24 | €3,604 | €3,148 | -€457 | -12.7% |
| Current assets | 29/58 | €98,282 | €86,563 | -€11,719 | -11.9% |
| Amounts receivable within one year | 40/41 | €53,487 | €58,736 | +€5,249 | +9.8% |
| Trade receivables | 40 | €42,372 | €52,311 | +€9,939 | +23.5% |
| Other amounts receivable | 41 | €11,116 | €6,426 | -€4,690 | -42.2% |
| Cash at bank and in hand | 54/58 | €44,285 | €27,288 | -€16,998 | -38.4% |
| Deferred charges and accrued income | 490/1 | €510 | €539 | +€29 | +5.8% |
| Total equity and liabilities | 10/49 | €214,096 | €227,176 | +€13,080 | +6.1% |
| Equity | 10/15 | €15,467 | €56,641 | +€41,174 | +266% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €8,969 | €50,143 | +€41,174 | +459% |
| Distributable reserves | 133 | €8,969 | €50,143 | +€41,174 | +459% |
| Profit (loss) carried forward | 14 | €298 | €298 | = | 0.0% |
| Amounts payable | 17/49 | €198,629 | €170,535 | -€28,094 | -14.1% |
| Amounts payable after more than one year | 17 | €70,256 | €57,761 | -€12,495 | -17.8% |
| Financial debts | 170/4 | €70,256 | €57,761 | -€12,495 | -17.8% |
| Amounts payable within one year | 42/48 | €128,373 | €112,774 | -€15,598 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €12,374 | €12,495 | +€121 | +1.0% |
| Trade debts | 44 | €4,463 | €5,448 | +€984 | +22.1% |
| Suppliers | 440/4 | €4,463 | €5,448 | +€984 | +22.1% |
| Taxes, remuneration and social security | 45 | €14,044 | €19,236 | +€5,192 | +37.0% |
| Taxes | 450/3 | €14,044 | €19,236 | +€5,192 | +37.0% |
| Other amounts payable | 47/48 | €97,492 | €75,595 | -€21,896 | -22.5% |
| Non-recurring operating income | 76A | - | €725 | +€725 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,818 | €6,850 | +€3,032 | +79.4% |
| Other operating charges | 640/8 | €702 | €1,329 | +€627 | +89.4% |
| Gross operating margin | 9900 | €60,877 | €69,171 | +€8,294 | +13.6% |
| Operating profit (loss) | 9901 | €56,357 | €60,992 | +€4,635 | +8.2% |
| Financial income | 75/76B | €14 | €0 | -€14 | -99.9% |
| Recurring financial income | 75 | €14 | €0 | -€14 | -99.9% |
| Financial charges | 65/66B | €17,511 | €8,509 | -€9,001 | -51.4% |
| Recurring financial charges | 65 | €3,761 | €8,509 | +€4,749 | +126% |
| Non-recurring financial charges | 66B | €13,750 | - | -€13,750 | |
| Profit (loss) for the period before taxes | 9903 | €38,861 | €52,482 | +€13,622 | +35.1% |
| Income taxes | 67/77 | €8,574 | €11,309 | +€2,734 | +31.9% |
| Profit (loss) for the period | 9904 | €30,286 | €41,174 | +€10,888 | +35.9% |
| Profit (loss) for the period to be appropriated | 9905 | €30,286 | €41,174 | +€10,888 | +35.9% |
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 19 October 2026 via checked.be.