CONE: what changed
Two fiscal 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.
CONE
Largest movements
- Cash +€88,065
up €88,065 (+68.7%), from €128,279 to €216,344
mainly Net result for the year (+€68,071) and Receivables within one year (+€37,625)
- Receivables within one year -€37,625
down €37,625 (-68.1%), from €55,210 to €17,584
of which Other amounts receivable: -€35,363
- Tangible fixed assets -€16,091
down €16,091 (-5.1%), from €317,031 to €300,940
of which Land and buildings: -€25,105
- Reserves +€68,071
up €68,071 (+45.3%), from €150,432 to €218,504
- Debts after one year -€30,866
down €30,866 (-10.5%), from €294,390 to €263,524
- Trade debts -€6,805
down €6,805 (-66.6%), from €10,222 to €3,418
- Gross operating margin +€26,144
up €26,144 (+22.8%), from €114,433 to €140,577
- Taxes +€3,968
up €3,968 (+18.0%), from €22,006 to €25,974
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.
Cash bridge derived
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 | €500,519 | €534,868 | +€34,349 | +6.9% |
| Fixed assets | 21/28 | €317,031 | €300,940 | -€16,091 | -5.1% |
| Tangible fixed assets | 22/27 | €317,031 | €300,940 | -€16,091 | -5.1% |
| Land and buildings | 22 | €313,351 | €288,246 | -€25,105 | -8.0% |
| Plant, machinery and equipment | 23 | €3,680 | €12,694 | +€9,014 | +244.9% |
| Current assets | 29/58 | €183,489 | €233,928 | +€50,440 | +27.5% |
| Amounts receivable within one year | 40/41 | €55,210 | €17,584 | -€37,625 | -68.1% |
| Trade receivables | 40 | €15,526 | €13,264 | -€2,262 | -14.6% |
| Other amounts receivable | 41 | €39,684 | €4,321 | -€35,363 | -89.1% |
| Cash at bank and in hand | 54/58 | €128,279 | €216,344 | +€88,065 | +68.7% |
| Total equity and liabilities | 10/49 | €500,519 | €534,868 | +€34,349 | +6.9% |
| Equity | 10/15 | €150,433 | €218,505 | +€68,071 | +45.3% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €150,432 | €218,504 | +€68,071 | +45.3% |
| Distributable reserves | 133 | €150,432 | €218,504 | +€68,071 | +45.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €350,086 | €316,364 | -€33,722 | -9.6% |
| Amounts payable after more than one year | 17 | €294,390 | €263,524 | -€30,866 | -10.5% |
| Financial debts | 170/4 | €294,390 | €263,524 | -€30,866 | -10.5% |
| Amounts payable within one year | 42/48 | €55,697 | €52,840 | -€2,857 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €30,259 | €30,866 | +€606 | +2.0% |
| Trade debts | 44 | €10,222 | €3,418 | -€6,805 | -66.6% |
| Suppliers | 440/4 | €10,222 | €3,418 | -€6,805 | -66.6% |
| Taxes, remuneration and social security | 45 | €7,759 | €10,485 | +€2,726 | +35.1% |
| Taxes | 450/3 | €7,759 | €10,485 | +€2,726 | +35.1% |
| Other amounts payable | 47/48 | €7,455 | €8,071 | +€616 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,309 | €36,422 | +€113 | +0.3% |
| Other operating charges | 640/8 | €3,670 | €4,183 | +€513 | +14.0% |
| Gross operating margin | 9900 | €114,433 | €140,577 | +€26,144 | +22.8% |
| Operating profit (loss) | 9901 | €74,454 | €99,972 | +€25,518 | +34.3% |
| Financial income | 75/76B | €385 | €912 | +€526 | +136.6% |
| Recurring financial income | 75 | €385 | €912 | +€526 | +136.6% |
| Financial charges | 65/66B | €7,777 | €6,838 | -€939 | -12.1% |
| Recurring financial charges | 65 | €7,777 | €6,838 | -€939 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €67,062 | €94,045 | +€26,983 | +40.2% |
| Income taxes | 67/77 | €22,006 | €25,974 | +€3,968 | +18.0% |
| Profit (loss) for the period | 9904 | €45,056 | €68,071 | +€23,015 | +51.1% |
| Profit (loss) for the period to be appropriated | 9905 | €45,056 | €68,071 | +€23,015 | +51.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.