CLUB 10: 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.
CLUB 10
Largest movements
- Current investments -€51,109
down €51,109 (-25.7%), from €199,139 to €148,030
- Cash +€46,950
up €46,950 (+65.1%), from €72,082 to €119,033
mainly Current investments (+€51,109) and Net result for the year (+€4,459)
- Debts after one year -€11,655
down €11,655 (-7.0%), from €167,167 to €155,512
- Purchases and services -€6,791
no longer reported in 2025 (was €6,791)
- Financial income +€2,979
up €2,979 (+47.5%), from €6,275 to €9,255
- Gross operating margin -€2,179
down €2,179 (-12.6%), from €17,340 to €15,161
- Taxes +€1,431
up €1,431 (+1,098%), from €130 to €1,561
- Other operating charges +€1,260
up €1,260 (+14.9%), from €8,443 to €9,703
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 | €555,274 | €549,649 | -€5,625 | -1.0% |
| Fixed assets | 21/28 | €104,865 | €101,670 | -€3,195 | -3.0% |
| Tangible fixed assets | 22/27 | €104,865 | €101,670 | -€3,195 | -3.0% |
| Land and buildings | 22 | €97,711 | €96,445 | -€1,267 | -1.3% |
| Plant, machinery and equipment | 23 | €7,154 | €5,225 | -€1,929 | -27.0% |
| Current assets | 29/58 | €450,409 | €447,979 | -€2,430 | -0.5% |
| Amounts receivable within one year | 40/41 | €177,780 | €179,440 | +€1,660 | +0.9% |
| Trade receivables | 40 | €1,430 | - | -€1,430 | |
| Other amounts receivable | 41 | €176,351 | €179,440 | +€3,090 | +1.8% |
| Current investments | 50/53 | €199,139 | €148,030 | -€51,109 | -25.7% |
| Cash at bank and in hand | 54/58 | €72,082 | €119,033 | +€46,950 | +65.1% |
| Deferred charges and accrued income | 490/1 | €1,408 | €1,476 | +€68 | +4.8% |
| Total equity and liabilities | 10/49 | €555,274 | €549,649 | -€5,625 | -1.0% |
| Equity | 10/15 | €318,771 | €323,230 | +€4,459 | +1.4% |
| Contributions | 10/11 | €111,600 | €111,600 | = | 0.0% |
| Capital | 10 | €111,600 | €111,600 | = | 0.0% |
| Issued capital | 100 | €111,600 | €111,600 | = | 0.0% |
| Reserves | 13 | €184,328 | €184,102 | -€226 | -0.1% |
| Non-distributable reserves | 130/1 | €12,097 | €12,097 | = | 0.0% |
| Legal reserve | 130 | €11,155 | €11,155 | = | 0.0% |
| Reserves not available under the articles | 1311 | €942 | - | -€942 | |
| Other | 1319 | - | €942 | +€942 | |
| Tax-exempt reserves | 132 | €172,231 | €172,005 | -€226 | -0.1% |
| Profit (loss) carried forward | 14 | €22,843 | €27,527 | +€4,684 | +20.5% |
| Investment grants | 15 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €57,410 | €57,335 | -€75 | -0.1% |
| Deferred taxes | 168 | €57,410 | €57,335 | -€75 | -0.1% |
| Amounts payable | 17/49 | €179,093 | €169,085 | -€10,009 | -5.6% |
| Amounts payable after more than one year | 17 | €167,167 | €155,512 | -€11,655 | -7.0% |
| Financial debts | 170/4 | €167,167 | €155,512 | -€11,655 | -7.0% |
| Amounts payable within one year | 42/48 | €11,927 | €13,573 | +€1,646 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €11,295 | €11,655 | +€360 | +3.2% |
| Trade debts | 44 | €632 | €1,918 | +€1,286 | +204% |
| Suppliers | 440/4 | €632 | €1,918 | +€1,286 | +204% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €6,791 | - | -€6,791 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,198 | €3,195 | -€3 | -0.1% |
| Other operating charges | 640/8 | €8,443 | €9,703 | +€1,260 | +14.9% |
| Gross operating margin | 9900 | €17,340 | €15,161 | -€2,179 | -12.6% |
| Operating profit (loss) | 9901 | €5,699 | €2,263 | -€3,436 | -60.3% |
| Financial income | 75/76B | €6,275 | €9,255 | +€2,979 | +47.5% |
| Recurring financial income | 75 | €6,275 | €9,255 | +€2,979 | +47.5% |
| Financial charges | 65/66B | €5,933 | €5,572 | -€361 | -6.1% |
| Recurring financial charges | 65 | €5,933 | €5,572 | -€361 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €6,041 | €5,945 | -€96 | -1.6% |
| Transfer from deferred taxes | 780 | €106 | €75 | -€31 | -29.0% |
| Income taxes | 67/77 | €130 | €1,561 | +€1,431 | +1,098% |
| Profit (loss) for the period | 9904 | €6,016 | €4,459 | -€1,558 | -25.9% |
| Transfer from tax-exempt reserves | 789 | €318 | €226 | -€92 | -29.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,334 | €4,684 | -€1,650 | -26.0% |
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 1 November 2026 via checked.be.