C-SIDE: 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-SIDE
Largest movements
- Tangible fixed assets -€32,233
down €32,233 (-7.9%), from €407,915 to €375,682
of which Furniture and vehicles: -€22,497
- Receivables within one year -€7,425
down €7,425 (-20.8%), from €35,630 to €28,205
of which Other amounts receivable: -€7,318
- Debts after one year -€30,425
down €30,425 (-12.8%), from €238,390 to €207,965
- Reserves -€15,118
down €15,118 (-9.6%), from €156,902 to €141,784
of which Distributable reserves: -€15,118
- Financial charges -€2,267
down €2,267 (-17.5%), from €12,988 to €10,721
- Depreciation +€1,251
up €1,251 (+5.5%), from €22,765 to €24,016
- Gross operating margin -€1,243
down €1,243 (-1.3%), from €96,538 to €95,295
- Taxes -€1,066
down €1,066 (-5.9%), from €18,167 to €17,101
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.
Cash bridge derived
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 | €448,586 | €404,501 | -€44,085 | -9.8% |
| Fixed assets | 21/28 | €408,043 | €375,810 | -€32,233 | -7.9% |
| Tangible fixed assets | 22/27 | €407,915 | €375,682 | -€32,233 | -7.9% |
| Land and buildings | 22 | €331,947 | €322,211 | -€9,736 | -2.9% |
| Furniture and vehicles | 24 | €75,968 | €53,471 | -€22,497 | -29.6% |
| Financial fixed assets | 28 | €128 | €128 | = | 0.0% |
| Current assets | 29/58 | €40,543 | €28,691 | -€11,852 | -29.2% |
| Amounts receivable within one year | 40/41 | €35,630 | €28,205 | -€7,425 | -20.8% |
| Trade receivables | 40 | €8,001 | €7,894 | -€107 | -1.3% |
| Other amounts receivable | 41 | €27,629 | €20,311 | -€7,318 | -26.5% |
| Cash at bank and in hand | 54/58 | €1,768 | €486 | -€1,282 | -72.5% |
| Deferred charges and accrued income | 490/1 | €3,145 | - | -€3,145 | |
| Total equity and liabilities | 10/49 | €448,586 | €404,501 | -€44,085 | -9.8% |
| Equity | 10/15 | €169,302 | €154,184 | -€15,118 | -8.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €156,902 | €141,784 | -€15,118 | -9.6% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €155,047 | €139,929 | -€15,118 | -9.8% |
| Amounts payable | 17/49 | €279,284 | €250,317 | -€28,967 | -10.4% |
| Amounts payable after more than one year | 17 | €238,390 | €207,965 | -€30,425 | -12.8% |
| Financial debts | 170/4 | €238,390 | €207,965 | -€30,425 | -12.8% |
| Amounts payable within one year | 42/48 | €40,894 | €42,352 | +€1,458 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €26,122 | €27,200 | +€1,078 | +4.1% |
| Financial debts | 43 | - | €2,438 | +€2,438 | |
| Credit institutions | 430/8 | - | €2,438 | +€2,438 | |
| Taxes, remuneration and social security | 45 | €14,772 | €12,714 | -€2,058 | -13.9% |
| Taxes | 450/3 | €14,772 | €12,714 | -€2,058 | -13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,765 | €24,016 | +€1,251 | +5.5% |
| Other operating charges | 640/8 | €2,571 | €2,595 | +€24 | +0.9% |
| Non-recurring operating charges | 66A | €2,725 | €1,319 | -€1,406 | -51.6% |
| Gross operating margin | 9900 | €96,538 | €95,295 | -€1,243 | -1.3% |
| Operating profit (loss) | 9901 | €68,477 | €67,365 | -€1,112 | -1.6% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €12,988 | €10,721 | -€2,267 | -17.5% |
| Recurring financial charges | 65 | €12,988 | €10,721 | -€2,267 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €55,489 | €56,654 | +€1,165 | +2.1% |
| Income taxes | 67/77 | €18,167 | €17,101 | -€1,066 | -5.9% |
| Profit (loss) for the period | 9904 | €37,322 | €39,553 | +€2,231 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,322 | €39,553 | +€2,231 | +6.0% |
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 10 October 2026 via checked.be.