Bonds: what changed
What changed
Bonds
NACE 63.920, Other information service activities
filed annual accounts (NBB)
Net result for the year
€213,692
2024 · €162,702+€50,989
Equity
€437,150
2024 · €223,459+€213,692
Cash
€37,024
2024 · €29,176+€7,848
Balance sheet total
€524,113
2024 · €315,881+€208,232
Largest movements
Assets
- Receivables within one year +€178,038
up €178,038 (+287%), from €61,998 to €240,037
of which Other amounts receivable: +€197,691
- Deferred charges and accrued income +€20,260
up €20,260 (+626%), from €3,239 to €23,498
- Cash +€7,848
up €7,848 (+26.9%), from €29,176 to €37,024
mainly Net result for the year (+€213,692) and Depreciation (+€10,128)
Equity and liabilities
- Profit (loss) carried forward +€116,862
up €116,862 (+81.5%), from €143,459 to €260,320
- Reserves +€96,830
up €96,830 (+129%), from €75,000 to €171,830
of which Tax-exempt reserves: +€96,830
- Debts after one year -€9,316
down €9,316 (-12.0%), from €77,366 to €68,050
- Trade debts +€5,733
up €5,733 (+410%), from €1,397 to €7,130
Income statement
- Gross operating margin +€68,873
up €68,873 (+30.3%), from €227,006 to €295,879
- Taxes +€15,602
up €15,602 (+29.8%), from €52,433 to €68,035
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€162,702
Gross operating margin
+€68,873
Depreciation
-€2,198
Other operating charges
-€994
Financial income
+€830
Financial charges
+€81
Taxes
-€15,602
Result 2025
€213,692
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€28,439
Investment
-€12,215
Financing
-€8,376
Cash 2024
€29,176
From operations (derived)
+€28,439
Net result for the year
+€213,692
Depreciation
+€10,128
Receivables within one year
-€178,038
Deferred charges and accrued income
-€20,260
Trade debts
+€5,733
Other debts
-€2,743
Accrued charges and deferred income
-€74
Investment (derived)
-€12,215
Investment in fixed assets (net)
-€11,144
Current investments
-€1,070
Financing
-€8,376
Debts after one year
-€9,316
Current portion of long-term debt
+€525
Short-term financial debts
+€415
Cash 2025
€37,024
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €315,881 | €524,113 | +€208,232 | +65.9% |
| Fixed assets | 21/28 | €131,468 | €132,484 | +€1,016 | +0.8% |
| Tangible fixed assets | 22/27 | €131,468 | €132,484 | +€1,016 | +0.8% |
| Land and buildings | 22 | €110,823 | €108,115 | -€2,708 | -2.4% |
| Plant, machinery and equipment | 23 | €3,182 | €7,535 | +€4,353 | +137% |
| Furniture and vehicles | 24 | €17,463 | €16,834 | -€629 | -3.6% |
| Current assets | 29/58 | €184,413 | €391,629 | +€207,216 | +112% |
| Amounts receivable within one year | 40/41 | €61,998 | €240,037 | +€178,038 | +287% |
| Trade receivables | 40 | €31,985 | €12,332 | -€19,653 | -61.4% |
| Other amounts receivable | 41 | €30,013 | €227,705 | +€197,691 | +659% |
| Current investments | 50/53 | €90,000 | €91,070 | +€1,070 | +1.2% |
| Cash at bank and in hand | 54/58 | €29,176 | €37,024 | +€7,848 | +26.9% |
| Deferred charges and accrued income | 490/1 | €3,239 | €23,498 | +€20,260 | +626% |
| Total equity and liabilities | 10/49 | €315,881 | €524,113 | +€208,232 | +65.9% |
| Equity | 10/15 | €223,459 | €437,150 | +€213,692 | +95.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €75,000 | €171,830 | +€96,830 | +129% |
| Tax-exempt reserves | 132 | - | €96,830 | +€96,830 | |
| Distributable reserves | 133 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,459 | €260,320 | +€116,862 | +81.5% |
| Amounts payable | 17/49 | €92,422 | €86,963 | -€5,459 | -5.9% |
| Amounts payable after more than one year | 17 | €77,366 | €68,050 | -€9,316 | -12.0% |
| Financial debts | 170/4 | €77,366 | €68,050 | -€9,316 | -12.0% |
| Amounts payable within one year | 42/48 | €14,982 | €18,913 | +€3,931 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €8,791 | €9,316 | +€525 | +6.0% |
| Financial debts | 43 | €928 | €1,344 | +€415 | +44.7% |
| Credit institutions | 430/8 | €928 | €1,344 | +€415 | +44.7% |
| Trade debts | 44 | €1,397 | €7,130 | +€5,733 | +410% |
| Suppliers | 440/4 | €1,397 | €7,130 | +€5,733 | +410% |
| Taxes, remuneration and social security | 45 | €1,123 | €1,123 | = | 0.0% |
| Taxes | 450/3 | €1,123 | €1,123 | = | 0.0% |
| Other amounts payable | 47/48 | €2,743 | €0 | -€2,743 | -100% |
| Accrued charges and deferred income | 492/3 | €74 | €0 | -€74 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,930 | €10,128 | +€2,198 | +27.7% |
| Other operating charges | 640/8 | €439 | €1,434 | +€994 | +226% |
| Gross operating margin | 9900 | €227,006 | €295,879 | +€68,873 | +30.3% |
| Operating profit (loss) | 9901 | €218,637 | €284,317 | +€65,680 | +30.0% |
| Financial income | 75/76B | €1,486 | €2,316 | +€830 | +55.9% |
| Recurring financial income | 75 | €1,486 | €2,316 | +€830 | +55.9% |
| Financial charges | 65/66B | €4,988 | €4,907 | -€81 | -1.6% |
| Recurring financial charges | 65 | €4,988 | €4,907 | -€81 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €215,135 | €281,726 | +€66,591 | +31.0% |
| Income taxes | 67/77 | €52,433 | €68,035 | +€15,602 | +29.8% |
| Profit (loss) for the period | 9904 | €162,702 | €213,692 | +€50,989 | +31.3% |
| Transfer to tax-exempt reserves | 689 | - | €96,830 | +€96,830 | |
| Profit (loss) for the period to be appropriated | 9905 | €162,702 | €116,862 | -€45,841 | -28.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.