CAPITAL MANAGEMENT SUPPORT: 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.
CAPITAL MANAGEMENT SUPPORT
Largest movements
- Tangible fixed assets -€9,311
down €9,311 (-29.1%), from €32,013 to €22,703
- Receivables within one year +€4,508
up €4,508 (+18.6%), from €24,209 to €28,717
of which Other amounts receivable: +€3,938
- Cash -€4,052
down €4,052 (-47.3%), from €8,565 to €4,513
mainly Contributions, distributions and other (-€16,005) and Debts after one year (-€5,108)
- Current investments +€1,170
up €1,170 (+136%), from €862 to €2,031
- Contributions -€14,550
down €14,550 (-78.4%), from €18,550 to €4,000
- Reserves +€10,277
up €10,277 (+38.1%), from €26,964 to €37,241
of which Distributable reserves: +€10,277
- Debts after one year -€5,108
down €5,108 (-38.6%), from €13,234 to €8,126
- Tax, wage and social debts +€1,053
up €1,053 (+46.6%), from €2,259 to €3,312
- Gross operating margin +€5,767
up €5,767 (+26.1%), from €22,062 to €27,829
- Taxes +€1,510
up €1,510 (+41.2%), from €3,661 to €5,171
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 | €66,776 | €58,746 | -€8,031 | -12.0% |
| Fixed assets | 21/28 | €32,013 | €22,703 | -€9,311 | -29.1% |
| Tangible fixed assets | 22/27 | €32,013 | €22,703 | -€9,311 | -29.1% |
| Furniture and vehicles | 24 | €32,013 | €22,703 | -€9,311 | -29.1% |
| Current assets | 29/58 | €34,763 | €36,043 | +€1,280 | +3.7% |
| Amounts receivable within one year | 40/41 | €24,209 | €28,717 | +€4,508 | +18.6% |
| Trade receivables | 40 | €18,150 | €18,720 | +€570 | +3.1% |
| Other amounts receivable | 41 | €6,059 | €9,997 | +€3,938 | +65.0% |
| Current investments | 50/53 | €862 | €2,031 | +€1,170 | +136% |
| Cash at bank and in hand | 54/58 | €8,565 | €4,513 | -€4,052 | -47.3% |
| Deferred charges and accrued income | 490/1 | €1,127 | €782 | -€345 | -30.6% |
| Total equity and liabilities | 10/49 | €66,776 | €58,746 | -€8,031 | -12.0% |
| Equity | 10/15 | €45,514 | €41,241 | -€4,273 | -9.4% |
| Contributions | 10/11 | €18,550 | €4,000 | -€14,550 | -78.4% |
| Reserves | 13 | €26,964 | €37,241 | +€10,277 | +38.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €26,964 | €37,241 | +€10,277 | +38.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €21,262 | €17,505 | -€3,757 | -17.7% |
| Amounts payable after more than one year | 17 | €13,234 | €8,126 | -€5,108 | -38.6% |
| Financial debts | 170/4 | €13,234 | €8,126 | -€5,108 | -38.6% |
| Amounts payable within one year | 42/48 | €8,028 | €9,379 | +€1,351 | +16.8% |
| Current portion of amounts payable after more than one year | 42 | €4,874 | €5,108 | +€234 | +4.8% |
| Trade debts | 44 | €895 | €356 | -€539 | -60.2% |
| Suppliers | 440/4 | €895 | €356 | -€539 | -60.2% |
| Taxes, remuneration and social security | 45 | €2,259 | €3,312 | +€1,053 | +46.6% |
| Taxes | 450/3 | €2,259 | €3,312 | +€1,053 | +46.6% |
| Other amounts payable | 47/48 | - | €603 | +€603 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,311 | €9,311 | = | 0.0% |
| Other operating charges | 640/8 | €720 | €742 | +€21 | +3.0% |
| Gross operating margin | 9900 | €22,062 | €27,829 | +€5,767 | +26.1% |
| Operating profit (loss) | 9901 | €12,031 | €17,776 | +€5,745 | +47.8% |
| Financial income | 75/76B | €14 | €50 | +€36 | +256% |
| Recurring financial income | 75 | €14 | €50 | +€36 | +256% |
| Financial charges | 65/66B | €1,154 | €924 | -€230 | -19.9% |
| Recurring financial charges | 65 | €1,154 | €924 | -€230 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €10,891 | €16,902 | +€6,011 | +55.2% |
| Income taxes | 67/77 | €3,661 | €5,171 | +€1,510 | +41.2% |
| Profit (loss) for the period | 9904 | €7,230 | €11,732 | +€4,501 | +62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €7,230 | €11,732 | +€4,501 | +62.3% |
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 30 October 2026 via checked.be.