CONDITIONNEL: 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.
CONDITIONNEL
Largest movements
- Receivables within one year -€237,797
down €237,797 (-76.3%), from €311,734 to €73,937
of which Other amounts receivable: -€271,379
- Other debts -€828,023
down €828,023 (-83.9%), from €986,531 to €158,508
- Reserves +€554,486
up €554,486 (+90.0%), from €616,162 to €1.2m
- Tax, wage and social debts +€43,172
up €43,172 (+271%), from €15,946 to €59,118
- Financial income +€530,275
up €530,275 (+760%), from €69,737 to €600,012
- Taxes +€45,967
up €45,967 (+368%), from €12,485 to €58,451
- Gross operating margin -€10,416
down €10,416 (-38.6%), from €26,994 to €16,578
- Depreciation -€8,399
down €8,399 (-94.7%), from €8,867 to €468
- Other operating charges +€963
up €963 (+152%), from €634 to €1,597
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 | €2,995,272 | €2,782,794 | -€212,478 | -7.1% |
| Fixed assets | 21/28 | €2,573,140 | €2,560,021 | -€13,119 | -0.5% |
| Tangible fixed assets | 22/27 | €18,564 | €5,148 | -€13,416 | -72.3% |
| Plant, machinery and equipment | 23 | €5,616 | €5,148 | -€468 | -8.3% |
| Furniture and vehicles | 24 | €12,948 | €0 | -€12,948 | -100% |
| Financial fixed assets | 28 | €2,554,576 | €2,554,873 | +€297 | 0.0% |
| Current assets | 29/58 | €422,132 | €222,773 | -€199,359 | -47.2% |
| Stocks and contracts in progress | 3 | €314 | €176 | -€138 | -44.0% |
| Stocks | 30/36 | €314 | €176 | -€138 | -44.0% |
| Amounts receivable within one year | 40/41 | €311,734 | €73,937 | -€237,797 | -76.3% |
| Trade receivables | 40 | €8,094 | €41,676 | +€33,582 | +415% |
| Other amounts receivable | 41 | €303,640 | €32,261 | -€271,379 | -89.4% |
| Cash at bank and in hand | 54/58 | €102,128 | €129,862 | +€27,735 | +27.2% |
| Deferred charges and accrued income | 490/1 | €7,955 | €18,797 | +€10,842 | +136% |
| Total equity and liabilities | 10/49 | €2,995,272 | €2,782,794 | -€212,478 | -7.1% |
| Equity | 10/15 | €1,989,338 | €2,543,825 | +€554,486 | +27.9% |
| Contributions | 10/11 | €1,373,176 | €1,373,176 | = | 0.0% |
| Reserves | 13 | €616,162 | €1,170,649 | +€554,486 | +90.0% |
| Distributable reserves | 133 | €616,162 | €1,170,649 | +€554,486 | +90.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,005,934 | €238,970 | -€766,964 | -76.2% |
| Amounts payable within one year | 42/48 | €1,005,892 | €238,928 | -€766,964 | -76.2% |
| Trade debts | 44 | €3,414 | €21,301 | +€17,887 | +524% |
| Suppliers | 440/4 | €3,414 | €21,301 | +€17,887 | +524% |
| Taxes, remuneration and social security | 45 | €15,946 | €59,118 | +€43,172 | +271% |
| Taxes | 450/3 | €15,946 | €59,118 | +€43,172 | +271% |
| Other amounts payable | 47/48 | €986,531 | €158,508 | -€828,023 | -83.9% |
| Accrued charges and deferred income | 492/3 | €42 | €42 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,867 | €468 | -€8,399 | -94.7% |
| Other operating charges | 640/8 | €634 | €1,597 | +€963 | +152% |
| Gross operating margin | 9900 | €26,994 | €16,578 | -€10,416 | -38.6% |
| Operating profit (loss) | 9901 | €17,493 | €14,513 | -€2,980 | -17.0% |
| Financial income | 75/76B | €69,737 | €600,012 | +€530,275 | +760% |
| Recurring financial income | 75 | €69,737 | €600,012 | +€530,275 | +760% |
| Financial charges | 65/66B | €961 | €1,587 | +€626 | +65.2% |
| Recurring financial charges | 65 | €961 | €1,587 | +€626 | +65.2% |
| Profit (loss) for the period before taxes | 9903 | €86,269 | €612,938 | +€526,669 | +610% |
| Income taxes | 67/77 | €12,485 | €58,451 | +€45,967 | +368% |
| Profit (loss) for the period | 9904 | €73,784 | €554,486 | +€480,702 | +651% |
| Profit (loss) for the period to be appropriated | 9905 | €73,784 | €554,486 | +€480,702 | +651% |
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 24 October 2026 via checked.be.