CONFLUENCE: 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.
CONFLUENCE
Largest movements
- Tangible fixed assets +€257,386
up €257,386 (+62.9%), from €408,920 to €666,306
of which Land and buildings: +€136,777
- Cash -€158,877
down €158,877 (-24.1%), from €660,375 to €501,498
mainly Investment in fixed assets (net) (-€284,567) and Receivables within one year (-€154,144)
- Receivables within one year +€154,144
up €154,144 (+261.9%), from €58,866 to €213,010
- Debts after one year +€235,715
up €235,715 (+74.0%), from €318,571 to €554,286
- Debts within one year -€119,937
down €119,937 (-32.4%), from €370,189 to €250,252
- Investment grants +€97,581
up €97,581 (+47.8%), from €204,133 to €301,714
- Accrued charges and deferred income +€48,369
new in 2025: €48,369
- Staff costs -€22,996
down €22,996 (-2.4%), from €947,518 to €924,522
- Gross operating margin -€17,646
down €17,646 (-1.3%), from €1.4m to €1.3m
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 | €1,158,396 | €1,421,543 | +€263,147 | +22.7% |
| Fixed assets | 21/28 | €413,240 | €669,676 | +€256,436 | +62.1% |
| Intangible fixed assets | 21 | €1,535 | €566 | -€969 | -63.1% |
| Tangible fixed assets | 22/27 | €408,920 | €666,306 | +€257,386 | +62.9% |
| Land and buildings | 22 | €361,837 | €498,614 | +€136,777 | +37.8% |
| Plant, machinery and equipment | 23 | €1,214 | €809 | -€405 | -33.4% |
| Furniture and vehicles | 24 | €15,778 | €7,716 | -€8,062 | -51.1% |
| Assets under construction and advance payments | 27 | €30,091 | €159,167 | +€129,076 | +429.0% |
| Financial fixed assets | 28 | €2,785 | €2,804 | +€19 | +0.7% |
| Current assets | 29/58 | €745,156 | €751,867 | +€6,711 | +0.9% |
| Amounts receivable within one year | 40/41 | €58,866 | €213,010 | +€154,144 | +261.9% |
| Other amounts receivable | 41 | €58,866 | €213,010 | +€154,144 | +261.9% |
| Cash at bank and in hand | 54/58 | €660,375 | €501,498 | -€158,877 | -24.1% |
| Deferred charges and accrued income | 490/1 | €25,915 | €37,359 | +€11,444 | +44.2% |
| Total equity and liabilities | 10/49 | €1,158,396 | €1,421,543 | +€263,147 | +22.7% |
| Equity | 10/15 | €469,636 | €568,636 | +€99,000 | +21.1% |
| Contributions | 10/11 | €40,002 | €40,002 | = | 0.0% |
| Capital | 10 | €40,002 | €40,002 | = | 0.0% |
| Profit (loss) carried forward | 14 | €225,501 | €226,920 | +€1,419 | +0.6% |
| Investment grants | 15 | €204,133 | €301,714 | +€97,581 | +47.8% |
| Amounts payable | 17/49 | €688,760 | €852,907 | +€164,147 | +23.8% |
| Amounts payable after more than one year | 17 | €318,571 | €554,286 | +€235,715 | +74.0% |
| Financial debts | 170/4 | €318,571 | €554,286 | +€235,715 | +74.0% |
| Amounts payable within one year | 42/48 | €370,189 | €250,252 | -€119,937 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €11,428 | €17,143 | +€5,715 | +50.0% |
| Trade debts | 44 | €56,715 | €46,993 | -€9,722 | -17.1% |
| Suppliers | 440/4 | €56,715 | €46,993 | -€9,722 | -17.1% |
| Taxes, remuneration and social security | 45 | €135,867 | €133,574 | -€2,293 | -1.7% |
| Taxes | 450/3 | €21,255 | €19,041 | -€2,214 | -10.4% |
| Remuneration and social security | 454/9 | €114,612 | €114,533 | -€79 | -0.1% |
| Accrued charges and deferred income | 492/3 | - | €48,369 | +€48,369 | |
| Non-recurring operating income | 76A | €6,160 | - | -€6,160 | |
| Remuneration, social security and pensions | 62 | €947,518 | €924,522 | -€22,996 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,077 | €28,131 | +€5,054 | +21.9% |
| Other operating charges | 640/8 | €369,269 | €377,787 | +€8,518 | +2.3% |
| Non-recurring operating charges | 66A | €27 | €7 | -€20 | -74.1% |
| Gross operating margin | 9900 | €1,356,186 | €1,338,540 | -€17,646 | -1.3% |
| Operating profit (loss) | 9901 | €16,295 | €8,093 | -€8,202 | -50.3% |
| Financial income | 75/76B | €3,774 | €7,924 | +€4,150 | +110.0% |
| Recurring financial income | 75 | €3,774 | €7,924 | +€4,150 | +110.0% |
| Financial charges | 65/66B | €4,439 | €14,598 | +€10,159 | +228.9% |
| Recurring financial charges | 65 | €4,439 | €14,598 | +€10,159 | +228.9% |
| Profit (loss) for the period before taxes | 9903 | €15,630 | €1,419 | -€14,211 | -90.9% |
| Profit (loss) for the period | 9904 | €15,630 | €1,419 | -€14,211 | -90.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,630 | €1,419 | -€14,211 | -90.9% |
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.