CA - DO: 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.
CA - DO
Largest movements
- Financial fixed assets +€1.2m
up €1.2m, from €0 to €1.2m
- Receivables after one year -€177,442
down €177,442 (-9.9%), from €1.8m to €1.6m
- Tangible fixed assets -€165,942
down €165,942 (-100%), from €165,942 to €0
of which Land and buildings: -€165,942
- Reserves +€801,944
up €801,944 (+87.3%), from €918,874 to €1.7m
of which Tax-exempt reserves: +€801,944
- Provisions +€267,315
up €267,315 (+88.4%), from €302,291 to €569,606
- Profit (loss) carried forward -€211,186
down €211,186 (-34.5%), from €611,759 to €400,573
- Gross operating margin -€224,234
down €224,234 (-16.9%), from €1.3m to €1.1m
- Financial income +€38,398
up €38,398 (+166%), from €23,167 to €61,565
- Taxes -€17,466
down €17,466 (-61.0%), from €28,638 to €11,171
- Depreciation -€16,073
down €16,073 (-100%), from €16,073 to €0
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 | €1,977,731 | €2,840,718 | +€862,987 | +43.6% |
| Fixed assets | 21/28 | €165,942 | €1,227,475 | +€1.1m | +640% |
| Tangible fixed assets | 22/27 | €165,942 | €0 | -€165,942 | -100% |
| Land and buildings | 22 | €165,942 | €0 | -€165,942 | -100% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | €1,227,475 | +€1.2m | |
| Current assets | 29/58 | €1,811,789 | €1,613,242 | -€198,546 | -11.0% |
| Amounts receivable after more than one year | 29 | €1,785,196 | €1,607,754 | -€177,442 | -9.9% |
| Other amounts receivable | 291 | €1,785,196 | €1,607,754 | -€177,442 | -9.9% |
| Amounts receivable within one year | 40/41 | €25,427 | €5,060 | -€20,367 | -80.1% |
| Other amounts receivable | 41 | €25,427 | €5,060 | -€20,367 | -80.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,166 | €428 | -€738 | -63.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,977,731 | €2,840,718 | +€862,987 | +43.6% |
| Equity | 10/15 | €1,650,633 | €2,241,391 | +€590,758 | +35.8% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €918,874 | €1,720,817 | +€801,944 | +87.3% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,000 | €12,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €906,874 | €1,708,817 | +€801,944 | +88.4% |
| Profit (loss) carried forward | 14 | €611,759 | €400,573 | -€211,186 | -34.5% |
| Provisions and deferred taxes | 16 | €302,291 | €569,606 | +€267,315 | +88.4% |
| Deferred taxes | 168 | €302,291 | €569,606 | +€267,315 | +88.4% |
| Amounts payable | 17/49 | €24,807 | €29,721 | +€4,914 | +19.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €23,264 | €29,721 | +€6,458 | +27.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €4,714 | €0 | -€4,714 | -100% |
| Suppliers | 440/4 | €4,714 | €0 | -€4,714 | -100% |
| Taxes, remuneration and social security | 45 | €18,550 | €29,721 | +€11,171 | +60.2% |
| Taxes | 450/3 | €18,550 | €29,721 | +€11,171 | +60.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,543 | €0 | -€1,543 | -100% |
| Non-recurring operating income | 76A | €1,220,569 | €1,069,258 | -€151,311 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,073 | €0 | -€16,073 | -100% |
| Other operating charges | 640/8 | €13,543 | €7,042 | -€6,501 | -48.0% |
| Gross operating margin | 9900 | €1,325,809 | €1,101,575 | -€224,234 | -16.9% |
| Operating profit (loss) | 9901 | €1,296,192 | €1,094,533 | -€201,660 | -15.6% |
| Financial income | 75/76B | €23,167 | €61,565 | +€38,398 | +166% |
| Recurring financial income | 75 | €23,167 | €61,565 | +€38,398 | +166% |
| Financial charges | 65/66B | -€852 | €11,853 | +€12,706 | |
| Recurring financial charges | 65 | -€852 | €11,853 | +€12,706 | |
| Profit (loss) for the period before taxes | 9903 | €1,320,212 | €1,144,244 | -€175,968 | -13.3% |
| Transfer to deferred taxes | 680 | €302,291 | €267,315 | -€34,977 | -11.6% |
| Income taxes | 67/77 | €28,638 | €11,171 | -€17,466 | -61.0% |
| Profit (loss) for the period | 9904 | €989,283 | €865,758 | -€123,524 | -12.5% |
| Transfer to tax-exempt reserves | 689 | €906,874 | €801,944 | -€104,930 | -11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €82,409 | €63,815 | -€18,594 | -22.6% |
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 13 October 2026 via checked.be.