COMPETENCE AND CHARACTER: 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.
COMPETENCE AND CHARACTER
Largest movements
- Current investments +€88,344
new in 2025: €88,344
- Cash -€57,870
down €57,870 (-41.0%), from €141,218 to €83,348
mainly Current investments (-€88,344) and Contributions, distributions and other (-€20,425)
- Tangible fixed assets -€16,309
down €16,309 (-8.1%), from €201,192 to €184,883
of which Land and buildings: -€10,856
- Other debts +€42,858
up €42,858 (+226%), from €18,976 to €61,834
- Debts after one year -€16,482
down €16,482 (-32.8%), from €50,311 to €33,829
- Reserves -€5,587
down €5,587 (-2.5%), from €226,901 to €221,314
- Financial charges +€43,789
up €43,789 (+947%), from €4,622 to €48,411
of which Financial charges: +€43,764
- Gross operating margin -€14,186
down €14,186 (-13.9%), from €101,777 to €87,591
- Taxes -€13,980
down €13,980 (-61.2%), from €22,852 to €8,872
- Financial income +€3,006
up €3,006 (+86,888%), from €3 to €3,010
of which Financial income: +€3,009
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 | €361,838 | €377,888 | +€16,050 | +4.4% |
| Fixed assets | 21/28 | €202,532 | €186,223 | -€16,309 | -8.1% |
| Tangible fixed assets | 22/27 | €201,192 | €184,883 | -€16,309 | -8.1% |
| Land and buildings | 22 | €190,176 | €179,319 | -€10,856 | -5.7% |
| Furniture and vehicles | 24 | €6,669 | €4,673 | -€1,996 | -29.9% |
| Other tangible fixed assets | 26 | €4,347 | €891 | -€3,457 | -79.5% |
| Financial fixed assets | 28 | €1,340 | €1,340 | = | 0.0% |
| Current assets | 29/58 | €159,306 | €191,665 | +€32,359 | +20.3% |
| Amounts receivable within one year | 40/41 | €16,947 | €17,159 | +€211 | +1.2% |
| Trade receivables | 40 | €16,947 | €17,159 | +€211 | +1.2% |
| Current investments | 50/53 | - | €88,344 | +€88,344 | |
| Cash at bank and in hand | 54/58 | €141,218 | €83,348 | -€57,870 | -41.0% |
| Deferred charges and accrued income | 490/1 | €1,141 | €2,815 | +€1,674 | +147% |
| Total equity and liabilities | 10/49 | €361,838 | €377,888 | +€16,050 | +4.4% |
| Equity | 10/15 | €233,101 | €227,514 | -€5,587 | -2.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €226,901 | €221,314 | -€5,587 | -2.5% |
| Distributable reserves | 133 | €226,901 | €221,314 | -€5,587 | -2.5% |
| Amounts payable | 17/49 | €128,737 | €150,374 | +€21,637 | +16.8% |
| Amounts payable after more than one year | 17 | €50,311 | €33,829 | -€16,482 | -32.8% |
| Financial debts | 170/4 | €50,311 | €33,829 | -€16,482 | -32.8% |
| Amounts payable within one year | 42/48 | €78,426 | €116,116 | +€37,690 | +48.1% |
| Current portion of amounts payable after more than one year | 42 | €18,939 | €19,857 | +€917 | +4.8% |
| Trade debts | 44 | €4,844 | €1,941 | -€2,904 | -59.9% |
| Suppliers | 440/4 | €4,844 | €1,941 | -€2,904 | -59.9% |
| Taxes, remuneration and social security | 45 | €35,666 | €32,484 | -€3,182 | -8.9% |
| Taxes | 450/3 | €30,080 | €30,360 | +€280 | +0.9% |
| Remuneration and social security | 454/9 | €5,586 | €2,124 | -€3,462 | -62.0% |
| Other amounts payable | 47/48 | €18,976 | €61,834 | +€42,858 | +226% |
| Accrued charges and deferred income | 492/3 | - | €429 | +€429 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,017 | €16,309 | +€292 | +1.8% |
| Other operating charges | 640/8 | €3,101 | €2,171 | -€930 | -30.0% |
| Gross operating margin | 9900 | €101,777 | €87,591 | -€14,186 | -13.9% |
| Operating profit (loss) | 9901 | €82,660 | €69,111 | -€13,549 | -16.4% |
| Financial income | 75/76B | €3 | €3,010 | +€3,006 | +86,888% |
| Recurring financial income | 75 | €0 | €3,009 | +€3,009 | +15,043,600% |
| Non-recurring financial income | 76B | €3 | €1 | -€2 | -69.2% |
| Financial charges | 65/66B | €4,622 | €48,411 | +€43,789 | +947% |
| Recurring financial charges | 65 | €4,615 | €48,380 | +€43,764 | +948% |
| Non-recurring financial charges | 66B | €7 | €31 | +€24 | +339% |
| Profit (loss) for the period before taxes | 9903 | €78,041 | €23,710 | -€54,331 | -69.6% |
| Income taxes | 67/77 | €22,852 | €8,872 | -€13,980 | -61.2% |
| Profit (loss) for the period | 9904 | €55,189 | €14,838 | -€40,351 | -73.1% |
| Profit (loss) for the period to be appropriated | 9905 | €55,189 | €14,838 | -€40,351 | -73.1% |
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 21 October 2026 via checked.be.