BY CONSULT: 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.
BY CONSULT
Largest movements
- Cash +€19,163
up €19,163 (+55.3%), from €34,647 to €53,811
mainly Net result for the year (+€50,367) and Depreciation (+€28,765)
- Tangible fixed assets -€18,781
down €18,781 (-4.9%), from €379,459 to €360,678
of which Land and buildings: -€16,834
- Deferred charges and accrued income +€15,524
up €15,524 (+361%), from €4,300 to €19,824
- Current investments +€15,000
up €15,000 (+30.0%), from €50,000 to €65,000
- Receivables within one year +€10,985
up €10,985 (+47.0%), from €23,375 to €34,360
of which Trade receivables: +€17,226
- Reserves +€50,367
up €50,367 (+20.1%), from €250,588 to €300,954
- Debts after one year -€19,448
down €19,448 (-11.5%), from €169,389 to €149,940
- Tax, wage and social debts +€9,520
up €9,520 (+1,362%), from €699 to €10,220
- Gross operating margin +€47,911
up €47,911 (+82.4%), from €58,125 to €106,036
- Taxes +€13,565
up €13,565 (+218%), from €6,214 to €19,779
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 | €491,781 | €533,673 | +€41,892 | +8.5% |
| Fixed assets | 21/28 | €379,459 | €360,678 | -€18,781 | -4.9% |
| Tangible fixed assets | 22/27 | €379,459 | €360,678 | -€18,781 | -4.9% |
| Land and buildings | 22 | €369,677 | €352,843 | -€16,834 | -4.6% |
| Plant, machinery and equipment | 23 | €2,485 | €3,652 | +€1,167 | +47.0% |
| Furniture and vehicles | 24 | €4,283 | €2,215 | -€2,067 | -48.3% |
| Other tangible fixed assets | 26 | €3,015 | €1,968 | -€1,047 | -34.7% |
| Current assets | 29/58 | €112,322 | €172,995 | +€60,673 | +54.0% |
| Amounts receivable within one year | 40/41 | €23,375 | €34,360 | +€10,985 | +47.0% |
| Trade receivables | 40 | €16,295 | €33,521 | +€17,226 | +106% |
| Other amounts receivable | 41 | €7,080 | €839 | -€6,241 | -88.2% |
| Current investments | 50/53 | €50,000 | €65,000 | +€15,000 | +30.0% |
| Cash at bank and in hand | 54/58 | €34,647 | €53,811 | +€19,163 | +55.3% |
| Deferred charges and accrued income | 490/1 | €4,300 | €19,824 | +€15,524 | +361% |
| Total equity and liabilities | 10/49 | €491,781 | €533,673 | +€41,892 | +8.5% |
| Equity | 10/15 | €269,138 | €319,504 | +€50,367 | +18.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €250,588 | €300,954 | +€50,367 | +20.1% |
| Distributable reserves | 133 | €250,588 | €300,954 | +€50,367 | +20.1% |
| Amounts payable | 17/49 | €222,644 | €214,169 | -€8,475 | -3.8% |
| Amounts payable after more than one year | 17 | €169,389 | €149,940 | -€19,448 | -11.5% |
| Financial debts | 170/4 | €169,389 | €149,940 | -€19,448 | -11.5% |
| Amounts payable within one year | 42/48 | €53,255 | €63,239 | +€9,985 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €22,248 | €19,448 | -€2,800 | -12.6% |
| Trade debts | 44 | €793 | €4,593 | +€3,800 | +479% |
| Suppliers | 440/4 | €793 | €4,593 | +€3,800 | +479% |
| Taxes, remuneration and social security | 45 | €699 | €10,220 | +€9,520 | +1,362% |
| Taxes | 450/3 | €699 | €10,220 | +€9,520 | +1,362% |
| Other amounts payable | 47/48 | €29,514 | €28,979 | -€536 | -1.8% |
| Accrued charges and deferred income | 492/3 | - | €989 | +€989 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,508 | €28,765 | +€257 | +0.9% |
| Other operating charges | 640/8 | €1,577 | €1,622 | +€45 | +2.9% |
| Non-recurring operating charges | 66A | €141 | €97 | -€45 | -31.5% |
| Gross operating margin | 9900 | €58,125 | €106,036 | +€47,911 | +82.4% |
| Operating profit (loss) | 9901 | €27,899 | €75,552 | +€47,653 | +171% |
| Financial income | 75/76B | €786 | €585 | -€200 | -25.5% |
| Recurring financial income | 75 | €786 | €585 | -€200 | -25.5% |
| Financial charges | 65/66B | €6,946 | €5,992 | -€955 | -13.7% |
| Recurring financial charges | 65 | €6,946 | €5,992 | -€955 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €21,739 | €70,146 | +€48,407 | +223% |
| Income taxes | 67/77 | €6,214 | €19,779 | +€13,565 | +218% |
| Profit (loss) for the period | 9904 | €15,525 | €50,367 | +€34,842 | +224% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €15,525 | €50,367 | +€34,842 | +224% |
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 17 October 2026 via checked.be.