CONTEXT: 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.
CONTEXT
Largest movements
- Current investments +€50,588
new in 2025: €50,588
- Cash -€28,880
down €28,880 (-13.5%), from €213,997 to €185,116
mainly Contributions, distributions and other (-€61,528) and Current investments (-€50,588)
- Deferred charges and accrued income -€11,960
down €11,960 (-97.0%), from €12,326 to €366
- Receivables within one year +€2,692
up €2,692 (+57.6%), from €4,672 to €7,364
of which Other amounts receivable: +€2,692
- Tax, wage and social debts +€12,006
up €12,006 (+146%), from €8,249 to €20,255
- Gross operating margin +€9,893
up €9,893 (+13.3%), from €74,603 to €84,495
- Taxes +€2,765
up €2,765 (+13.5%), from €20,415 to €23,181
- Financial income +€1,889
up €1,889 (+1,349,314%), from €0 to €1,889
- Depreciation +€995
up €995 (+87.6%), from €1,137 to €2,132
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 | €237,135 | €247,443 | +€10,308 | +4.3% |
| Fixed assets | 21/28 | €6,140 | €4,008 | -€2,132 | -34.7% |
| Tangible fixed assets | 22/27 | €6,134 | €4,002 | -€2,132 | -34.8% |
| Plant, machinery and equipment | 23 | €2,599 | €2,010 | -€589 | -22.6% |
| Furniture and vehicles | 24 | €3,535 | €1,992 | -€1,543 | -43.7% |
| Financial fixed assets | 28 | €6 | €6 | = | 0.0% |
| Current assets | 29/58 | €230,995 | €243,435 | +€12,440 | +5.4% |
| Amounts receivable within one year | 40/41 | €4,672 | €7,364 | +€2,692 | +57.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €4,672 | €7,364 | +€2,692 | +57.6% |
| Current investments | 50/53 | - | €50,588 | +€50,588 | |
| Cash at bank and in hand | 54/58 | €213,997 | €185,116 | -€28,880 | -13.5% |
| Deferred charges and accrued income | 490/1 | €12,326 | €366 | -€11,960 | -97.0% |
| Total equity and liabilities | 10/49 | €237,135 | €247,443 | +€10,308 | +4.3% |
| Equity | 10/15 | €222,968 | €221,220 | -€1,748 | -0.8% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €216,468 | €214,720 | -€1,748 | -0.8% |
| Distributable reserves | 133 | €216,468 | €214,720 | -€1,748 | -0.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €14,167 | €26,223 | +€12,056 | +85.1% |
| Amounts payable within one year | 42/48 | €14,167 | €26,223 | +€12,056 | +85.1% |
| Current portion of amounts payable after more than one year | 42 | - | €329 | +€329 | |
| Trade debts | 44 | €5,918 | €3,991 | -€1,927 | -32.6% |
| Suppliers | 440/4 | €5,918 | €3,991 | -€1,927 | -32.6% |
| Taxes, remuneration and social security | 45 | €8,249 | €20,255 | +€12,006 | +146% |
| Taxes | 450/3 | €8,249 | €20,255 | +€12,006 | +146% |
| Other amounts payable | 47/48 | - | €1,647 | +€1,647 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,137 | €2,132 | +€995 | +87.6% |
| Other operating charges | 640/8 | €1,477 | €855 | -€622 | -42.1% |
| Gross operating margin | 9900 | €74,603 | €84,495 | +€9,893 | +13.3% |
| Operating profit (loss) | 9901 | €71,989 | €81,508 | +€9,519 | +13.2% |
| Financial income | 75/76B | €0 | €1,889 | +€1,889 | +1,349,314% |
| Recurring financial income | 75 | €0 | €1,889 | +€1,889 | +1,349,314% |
| Financial charges | 65/66B | €696 | €437 | -€258 | -37.2% |
| Recurring financial charges | 65 | €696 | €437 | -€258 | -37.2% |
| Profit (loss) for the period before taxes | 9903 | €71,294 | €82,961 | +€11,667 | +16.4% |
| Income taxes | 67/77 | €20,415 | €23,181 | +€2,765 | +13.5% |
| Profit (loss) for the period | 9904 | €50,878 | €59,780 | +€8,902 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €50,878 | €59,780 | +€8,902 | +17.5% |
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 16 October 2026 via checked.be.