Collectief: 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.
What changed
Collectief
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€45,938
2024 · €6,558+€39,380
Equity
-€83,429
2024 · -€129,368+€45,938
Cash
€8,096
2024 · €8,426-€330
Balance sheet total
€100,761
2024 · €118,364-€17,604
Largest movements
Assets
- Receivables within one year -€13,986
down €13,986 (-14.8%), from €94,819 to €80,833
- Deferred charges and accrued income -€3,635
down €3,635 (-42.1%), from €8,634 to €4,999
Equity and liabilities
- Profit (loss) carried forward +€45,938
up €45,938 (+23.2%), from -€198,036 to -€152,097
- Other debts -€44,807
down €44,807 (-36.6%), from €122,542 to €77,734
- Accrued charges and deferred income -€17,000
no longer reported in 2025 (was €17,000)
- Tax, wage and social debts -€1,327
down €1,327 (-1.7%), from €77,554 to €76,227
of which Taxes: -€15,383
Income statement
- Turnover +€125,746
up €125,746 (+24.6%), from €510,778 to €636,524
- Gross operating margin +€124,207
up €124,207 (+33.3%), from €373,505 to €497,713
- Staff costs +€87,381
up €87,381 (+25.7%), from €339,889 to €427,270
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.
Result 2024
€6,558
Gross operating margin
+€124,207
Staff costs
-€87,381
Depreciation
-€1,381
Write-downs
-€113
Other operating charges
-€230
Other operating items
+€1,046
Financial income
-€2
Financial charges
+€3,243
Taxes
-€10
Result 2025
€45,938
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€4,083
Investment
-€4,414
Financing
€0
Cash 2024
€8,426
From operations (derived)
+€4,083
Net result for the year
+€45,938
Depreciation
+€4,067
Receivables within one year
+€13,986
Deferred charges and accrued income
+€3,635
Provisions
+€113
Trade debts
-€521
Tax, wage and social debts
-€1,327
Other debts
-€44,807
Accrued charges and deferred income
-€17,000
Investment (derived)
-€4,414
Investment in fixed assets (net)
-€4,414
Cash 2025
€8,096
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €118,364 | €100,761 | -€17,604 | -14.9% |
| Fixed assets | 21/28 | €6,485 | €6,832 | +€347 | +5.4% |
| Tangible fixed assets | 22/27 | €6,485 | €6,832 | +€347 | +5.4% |
| Plant, machinery and equipment | 23 | €6,485 | €6,832 | +€347 | +5.4% |
| Current assets | 29/58 | €111,879 | €93,929 | -€17,951 | -16.0% |
| Amounts receivable within one year | 40/41 | €94,819 | €80,833 | -€13,986 | -14.8% |
| Trade receivables | 40 | €94,819 | €80,833 | -€13,986 | -14.8% |
| Cash at bank and in hand | 54/58 | €8,426 | €8,096 | -€330 | -3.9% |
| Deferred charges and accrued income | 490/1 | €8,634 | €4,999 | -€3,635 | -42.1% |
| Total equity and liabilities | 10/49 | €118,364 | €100,761 | -€17,604 | -14.9% |
| Equity | 10/15 | -€129,368 | -€83,429 | +€45,938 | +35.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,668 | €6,668 | = | 0.0% |
| Non-distributable reserves | 130/1 | €333 | €333 | = | 0.0% |
| Reserves not available under the articles | 1311 | €333 | €333 | = | 0.0% |
| Distributable reserves | 133 | €6,335 | €6,335 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€198,036 | -€152,097 | +€45,938 | +23.2% |
| Provisions and deferred taxes | 16 | - | €113 | +€113 | |
| Provisions for liabilities and charges | 160/5 | - | €113 | +€113 | |
| Pensions and similar obligations | 160 | - | €113 | +€113 | |
| Amounts payable | 17/49 | €247,732 | €184,077 | -€63,655 | -25.7% |
| Amounts payable within one year | 42/48 | €230,732 | €184,077 | -€46,655 | -20.2% |
| Trade debts | 44 | €30,636 | €30,115 | -€521 | -1.7% |
| Suppliers | 440/4 | €30,636 | €30,115 | -€521 | -1.7% |
| Taxes, remuneration and social security | 45 | €77,554 | €76,227 | -€1,327 | -1.7% |
| Taxes | 450/3 | €43,390 | €28,006 | -€15,383 | -35.5% |
| Remuneration and social security | 454/9 | €34,164 | €48,221 | +€14,057 | +41.1% |
| Other amounts payable | 47/48 | €122,542 | €77,734 | -€44,807 | -36.6% |
| Accrued charges and deferred income | 492/3 | €17,000 | - | -€17,000 | |
| Turnover | 70 | €510,778 | €636,524 | +€125,746 | +24.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €147,337 | €152,533 | +€5,196 | +3.5% |
| Remuneration, social security and pensions | 62 | €339,889 | €427,270 | +€87,381 | +25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,686 | €4,067 | +€1,381 | +51.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €113 | +€113 | |
| Other operating charges | 640/8 | €2,611 | €2,841 | +€230 | +8.8% |
| Non-recurring operating charges | 66A | €1,046 | - | -€1,046 | |
| Gross operating margin | 9900 | €373,505 | €497,713 | +€124,207 | +33.3% |
| Operating profit (loss) | 9901 | €27,273 | €63,422 | +€36,149 | +133% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €19,497 | €16,254 | -€3,243 | -16.6% |
| Recurring financial charges | 65 | €19,497 | €16,254 | -€3,243 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €7,777 | €47,168 | +€39,391 | +507% |
| Income taxes | 67/77 | €1,219 | €1,229 | +€10 | +0.9% |
| Profit (loss) for the period | 9904 | €6,558 | €45,938 | +€39,380 | +600% |
| Profit (loss) for the period to be appropriated | 9905 | €6,558 | €45,938 | +€39,380 | +600% |
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 15 October 2026 via checked.be.