Collectief 45: 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.
Collectief 45
Largest movements
- Tangible fixed assets -€6,736
down €6,736 (-5.9%), from €114,841 to €108,105
of which Land and buildings: -€8,269
- Cash -€4,989
down €4,989 (-26.0%), from €19,160 to €14,171
mainly Contributions, distributions and other (-€18,657) and Debts after one year (-€8,968)
- Receivables within one year -€2,240
down €2,240 (-9.2%), from €24,335 to €22,095
of which Trade receivables: -€5,136
- Debts after one year -€8,968
down €8,968 (-17.0%), from €52,730 to €43,762
- Reserves -€8,529
down €8,529 (-10.5%), from €80,936 to €72,407
- Other debts +€2,976
up €2,976 (+269%), from €1,106 to €4,082
- Accrued charges and deferred income +€1,792
up €1,792 (+79.6%), from €2,250 to €4,042
- Taxes -€5,541
down €5,541 (-84.1%), from €6,591 to €1,049
- Gross operating margin -€4,987
down €4,987 (-15.2%), from €32,750 to €27,763
- Financial charges +€1,018
up €1,018 (+63.2%), from €1,609 to €2,627
- Depreciation +€866
up €866 (+8.0%), from €10,818 to €11,684
- Other operating charges +€502
up €502 (+39.3%), from €1,277 to €1,779
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 | €159,511 | €146,588 | -€12,923 | -8.1% |
| Fixed assets | 21/28 | €114,841 | €108,105 | -€6,736 | -5.9% |
| Tangible fixed assets | 22/27 | €114,841 | €108,105 | -€6,736 | -5.9% |
| Land and buildings | 22 | €102,264 | €93,995 | -€8,269 | -8.1% |
| Plant, machinery and equipment | 23 | €9,069 | €10,043 | +€974 | +10.7% |
| Furniture and vehicles | 24 | €3,508 | €4,067 | +€559 | +15.9% |
| Current assets | 29/58 | €44,670 | €38,483 | -€6,187 | -13.9% |
| Amounts receivable within one year | 40/41 | €24,335 | €22,095 | -€2,240 | -9.2% |
| Trade receivables | 40 | €24,286 | €19,150 | -€5,136 | -21.1% |
| Other amounts receivable | 41 | €49 | €2,945 | +€2,896 | +5,969% |
| Cash at bank and in hand | 54/58 | €19,160 | €14,171 | -€4,989 | -26.0% |
| Deferred charges and accrued income | 490/1 | €1,175 | €2,217 | +€1,042 | +88.7% |
| Total equity and liabilities | 10/49 | €159,511 | €146,588 | -€12,923 | -8.1% |
| Equity | 10/15 | €81,136 | €72,607 | -€8,529 | -10.5% |
| Contributions | 10/11 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €80,936 | €72,407 | -€8,529 | -10.5% |
| Distributable reserves | 133 | €80,936 | €72,407 | -€8,529 | -10.5% |
| Amounts payable | 17/49 | €78,376 | €73,981 | -€4,395 | -5.6% |
| Amounts payable after more than one year | 17 | €52,730 | €43,762 | -€8,968 | -17.0% |
| Financial debts | 170/4 | €52,730 | €43,762 | -€8,968 | -17.0% |
| Amounts payable within one year | 42/48 | €23,395 | €26,177 | +€2,782 | +11.9% |
| Current portion of amounts payable after more than one year | 42 | €8,828 | €8,968 | +€140 | +1.6% |
| Trade debts | 44 | €7,879 | €7,037 | -€842 | -10.7% |
| Suppliers | 440/4 | €7,879 | €7,037 | -€842 | -10.7% |
| Taxes, remuneration and social security | 45 | €5,582 | €6,090 | +€508 | +9.1% |
| Taxes | 450/3 | €5,582 | €6,090 | +€508 | +9.1% |
| Other amounts payable | 47/48 | €1,106 | €4,082 | +€2,976 | +269% |
| Accrued charges and deferred income | 492/3 | €2,250 | €4,042 | +€1,792 | +79.6% |
| Non-recurring operating income | 76A | - | €5,250 | +€5,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,818 | €11,684 | +€866 | +8.0% |
| Other operating charges | 640/8 | €1,277 | €1,779 | +€502 | +39.3% |
| Non-recurring operating charges | 66A | - | €532 | +€532 | |
| Gross operating margin | 9900 | €32,750 | €27,763 | -€4,987 | -15.2% |
| Operating profit (loss) | 9901 | €20,654 | €13,768 | -€6,887 | -33.3% |
| Financial income | 75/76B | - | €37 | +€37 | |
| Recurring financial income | 75 | - | €37 | +€37 | |
| Financial charges | 65/66B | €1,609 | €2,627 | +€1,018 | +63.2% |
| Recurring financial charges | 65 | €1,609 | €2,627 | +€1,018 | +63.2% |
| Profit (loss) for the period before taxes | 9903 | €19,045 | €11,178 | -€7,867 | -41.3% |
| Income taxes | 67/77 | €6,591 | €1,049 | -€5,541 | -84.1% |
| Profit (loss) for the period | 9904 | €12,455 | €10,129 | -€2,326 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,455 | €10,129 | -€2,326 | -18.7% |
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 29 October 2026 via checked.be.