CHANGEFOCUS: 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.
CHANGEFOCUS
Largest movements
- Current investments +€114,228
up €114,228 (+88.6%), from €128,899 to €243,127
- Cash -€54,475
down €54,475 (-38.5%), from €141,357 to €86,882
mainly Current investments (-€114,228) and Other debts (-€16,047)
- Receivables within one year -€5,602
down €5,602 (-51.6%), from €10,858 to €5,256
of which Trade receivables: -€4,168
- Tangible fixed assets -€4,367
down €4,367 (-6.9%), from €63,479 to €59,112
of which Plant, machinery and equipment: -€3,917
- Reserves +€44,915
up €44,915 (+15.4%), from €292,048 to €336,963
of which Distributable reserves: +€44,916
- Short-term financial debts +€24,187
new in 2024: €24,187
- Other debts -€16,047
no longer reported in 2024 (was €16,047)
- Financial income +€34,948
up €34,948 (+58,246,567%), from €0 to €34,948
- Staff costs -€4,369
down €4,369 (-74.2%), from €5,888 to €1,519
- Gross operating margin -€2,585
down €2,585 (-10.7%), from €24,243 to €21,658
- Financial charges -€2,535
down €2,535 (-97.4%), from €2,602 to €67
- Taxes -€1,307
down €1,307 (-48.2%), from €2,713 to €1,406
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €350,968 | €399,740 | +€48,772 | +13.9% |
| Fixed assets | 21/28 | €69,854 | €64,475 | -€5,379 | -7.7% |
| Tangible fixed assets | 22/27 | €63,479 | €59,112 | -€4,367 | -6.9% |
| Land and buildings | 22 | €57,233 | €54,080 | -€3,153 | -5.5% |
| Plant, machinery and equipment | 23 | €3,917 | €0 | -€3,917 | -100% |
| Leasing and similar rights | 25 | - | €2,944 | +€2,944 | |
| Other tangible fixed assets | 26 | €2,328 | €2,088 | -€240 | -10.3% |
| Financial fixed assets | 28 | €6,375 | €5,363 | -€1,012 | -15.9% |
| Current assets | 29/58 | €281,114 | €335,265 | +€54,151 | +19.3% |
| Amounts receivable within one year | 40/41 | €10,858 | €5,256 | -€5,602 | -51.6% |
| Trade receivables | 40 | €8,858 | €4,690 | -€4,168 | -47.1% |
| Other amounts receivable | 41 | €2,000 | €566 | -€1,434 | -71.7% |
| Current investments | 50/53 | €128,899 | €243,127 | +€114,228 | +88.6% |
| Cash at bank and in hand | 54/58 | €141,357 | €86,882 | -€54,475 | -38.5% |
| Total equity and liabilities | 10/49 | €350,968 | €399,740 | +€48,772 | +13.9% |
| Equity | 10/15 | €330,039 | €375,153 | +€45,114 | +13.7% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €292,048 | €336,963 | +€44,915 | +15.4% |
| Non-distributable reserves | 130/1 | €34,019 | €34,018 | -€1 | 0.0% |
| Reserves not available under the articles | 1311 | €34,019 | €34,018 | -€1 | 0.0% |
| Tax-exempt reserves | 132 | €20,687 | €20,687 | +€0 | 0.0% |
| Distributable reserves | 133 | €237,342 | €282,258 | +€44,916 | +18.9% |
| Profit (loss) carried forward | 14 | €792 | €990 | +€198 | +25.0% |
| Amounts payable | 17/49 | €20,928 | €24,587 | +€3,659 | +17.5% |
| Amounts payable within one year | 42/48 | €20,928 | €24,473 | +€3,545 | +16.9% |
| Financial debts | 43 | - | €24,187 | +€24,187 | |
| Other loans | 439 | - | €24,187 | +€24,187 | |
| Trade debts | 44 | €2,164 | €286 | -€1,878 | -86.8% |
| Suppliers | 440/4 | €2,164 | €286 | -€1,878 | -86.8% |
| Taxes, remuneration and social security | 45 | €2,718 | - | -€2,718 | |
| Taxes | 450/3 | €2,718 | - | -€2,718 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €16,047 | - | -€16,047 | |
| Accrued charges and deferred income | 492/3 | - | €114 | +€114 | |
| Remuneration, social security and pensions | 62 | €5,888 | €1,519 | -€4,369 | -74.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,546 | €6,474 | +€928 | +16.7% |
| Other operating charges | 640/8 | €1,698 | €2,026 | +€328 | +19.3% |
| Gross operating margin | 9900 | €24,243 | €21,658 | -€2,585 | -10.7% |
| Operating profit (loss) | 9901 | €11,112 | €11,639 | +€527 | +4.7% |
| Financial income | 75/76B | €0 | €34,948 | +€34,948 | +58,246,567% |
| Recurring financial income | 75 | €0 | €34,948 | +€34,948 | +58,246,567% |
| Financial charges | 65/66B | €2,602 | €67 | -€2,535 | -97.4% |
| Recurring financial charges | 65 | €2,602 | €67 | -€2,535 | -97.4% |
| Profit (loss) for the period before taxes | 9903 | €8,510 | €46,520 | +€38,010 | +447% |
| Income taxes | 67/77 | €2,713 | €1,406 | -€1,307 | -48.2% |
| Profit (loss) for the period | 9904 | €5,797 | €45,114 | +€39,317 | +678% |
| Profit (loss) for the period to be appropriated | 9905 | €5,797 | €45,114 | +€39,317 | +678% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.