C-level Belgium: 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.
C-level Belgium
Largest movements
- Intangible fixed assets -€17,719
down €17,719 (-44.2%), from €40,072 to €22,353
- Cash +€4,180
up €4,180 (+247%), from €1,694 to €5,874
mainly Other debts (+€38,806) and Depreciation (+€17,719)
- Receivables within one year -€2,193
down €2,193 (-11.6%), from €18,922 to €16,729
of which Other amounts receivable: -€4,745
- Other debts +€38,806
up €38,806 (+245%), from €15,861 to €54,667
- Profit (loss) carried forward -€28,865
down €28,865 (-35.7%), from -€80,848 to -€109,714
- Tax, wage and social debts -€12,489
down €12,489 (-91.3%), from €13,677 to €1,188
- Debts after one year -€9,817
down €9,817 (-92.3%), from €10,641 to €823
- Trade debts -€2,884
down €2,884 (-35.2%), from €8,188 to €5,303
- Gross operating margin +€54,132
up €54,132 (+87.3%), from -€62,031 to -€7,899
- Financial charges +€2,558
up €2,558 (+278%), from €921 to €3,478
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 | €61,254 | €45,002 | -€16,252 | -26.5% |
| Fixed assets | 21/28 | €40,072 | €22,353 | -€17,719 | -44.2% |
| Intangible fixed assets | 21 | €40,072 | €22,353 | -€17,719 | -44.2% |
| Current assets | 29/58 | €21,182 | €22,649 | +€1,468 | +6.9% |
| Amounts receivable within one year | 40/41 | €18,922 | €16,729 | -€2,193 | -11.6% |
| Trade receivables | 40 | €2,600 | €5,152 | +€2,552 | +98.1% |
| Other amounts receivable | 41 | €16,322 | €11,577 | -€4,745 | -29.1% |
| Cash at bank and in hand | 54/58 | €1,694 | €5,874 | +€4,180 | +247% |
| Deferred charges and accrued income | 490/1 | €565 | €46 | -€519 | -91.8% |
| Total equity and liabilities | 10/49 | €61,254 | €45,002 | -€16,252 | -26.5% |
| Equity | 10/15 | €2,069 | -€26,796 | -€28,865 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €67,917 | €67,917 | = | 0.0% |
| Distributable reserves | 133 | €67,917 | €67,917 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,848 | -€109,714 | -€28,865 | -35.7% |
| Amounts payable | 17/49 | €59,185 | €71,798 | +€12,614 | +21.3% |
| Amounts payable after more than one year | 17 | €10,641 | €823 | -€9,817 | -92.3% |
| Financial debts | 170/4 | €10,641 | €823 | -€9,817 | -92.3% |
| Amounts payable within one year | 42/48 | €48,544 | €70,975 | +€22,431 | +46.2% |
| Current portion of amounts payable after more than one year | 42 | €9,703 | €9,817 | +€115 | +1.2% |
| Financial debts | 43 | €1,115 | €0 | -€1,115 | -100% |
| Credit institutions | 430/8 | €1,115 | €0 | -€1,115 | -100% |
| Trade debts | 44 | €8,188 | €5,303 | -€2,884 | -35.2% |
| Suppliers | 440/4 | €8,188 | €5,303 | -€2,884 | -35.2% |
| Taxes, remuneration and social security | 45 | €13,677 | €1,188 | -€12,489 | -91.3% |
| Taxes | 450/3 | €13,677 | €1,188 | -€12,489 | -91.3% |
| Other amounts payable | 47/48 | €15,861 | €54,667 | +€38,806 | +245% |
| Non-recurring operating income | 76A | €9,151 | €848 | -€8,303 | -90.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,719 | €17,719 | = | 0.0% |
| Other operating charges | 640/8 | €511 | €540 | +€29 | +5.7% |
| Gross operating margin | 9900 | -€62,031 | -€7,899 | +€54,132 | +87.3% |
| Operating profit (loss) | 9901 | -€80,261 | -€26,158 | +€54,103 | +67.4% |
| Financial income | 75/76B | €334 | €772 | +€438 | +131% |
| Recurring financial income | 75 | €334 | €772 | +€438 | +131% |
| Financial charges | 65/66B | €921 | €3,478 | +€2,558 | +278% |
| Recurring financial charges | 65 | €921 | €3,478 | +€2,558 | +278% |
| Profit (loss) for the period before taxes | 9903 | -€80,848 | -€28,865 | +€51,983 | +64.3% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€80,848 | -€28,865 | +€51,983 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€80,848 | -€28,865 | +€51,983 | +64.3% |
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.