CORPORATE OFFICE: 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.
CORPORATE OFFICE
Largest movements
- Receivables within one year +€63,738
up €63,738 (+58.2%), from €109,587 to €173,324
of which Other amounts receivable: +€88,174
- Cash -€33,075
down €33,075 (-84.9%), from €38,969 to €5,894
mainly Receivables within one year (-€63,738) and Debts after one year (-€32,529)
- Tangible fixed assets -€19,486
down €19,486 (-8.2%), from €237,567 to €218,081
- Debts after one year -€32,529
down €32,529 (-23.8%), from €136,783 to €104,254
- Trade debts +€27,909
up €27,909 (+3,760%), from €742 to €28,651
of which Bills of exchange payable: +€26,400
- Profit (loss) carried forward +€13,619
up €13,619 (+21.8%), from €62,511 to €76,131
- Other debts -€5,800
down €5,800 (-6.9%), from €84,500 to €78,700
- Depreciation -€20,199
down €20,199 (-50.9%), from €39,685 to €19,486
- Gross operating margin -€14,355
down €14,355 (-25.7%), from €55,867 to €41,511
- Taxes +€1,523
up €1,523 (+50.4%), from €3,021 to €4,543
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 | €386,123 | €397,299 | +€11,176 | +2.9% |
| Fixed assets | 21/28 | €237,567 | €218,081 | -€19,486 | -8.2% |
| Tangible fixed assets | 22/27 | €237,567 | €218,081 | -€19,486 | -8.2% |
| Land and buildings | 22 | €237,567 | €218,081 | -€19,486 | -8.2% |
| Current assets | 29/58 | €148,556 | €179,218 | +€30,662 | +20.6% |
| Amounts receivable within one year | 40/41 | €109,587 | €173,324 | +€63,738 | +58.2% |
| Trade receivables | 40 | €37,800 | €13,364 | -€24,436 | -64.6% |
| Other amounts receivable | 41 | €71,787 | €159,961 | +€88,174 | +123% |
| Cash at bank and in hand | 54/58 | €38,969 | €5,894 | -€33,075 | -84.9% |
| Total equity and liabilities | 10/49 | €386,123 | €397,299 | +€11,176 | +2.9% |
| Equity | 10/15 | €130,152 | €143,772 | +€13,619 | +10.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €61,441 | €61,441 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €59,581 | €59,581 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,511 | €76,131 | +€13,619 | +21.8% |
| Amounts payable | 17/49 | €255,970 | €253,527 | -€2,443 | -1.0% |
| Amounts payable after more than one year | 17 | €136,783 | €104,254 | -€32,529 | -23.8% |
| Financial debts | 170/4 | €136,783 | €104,254 | -€32,529 | -23.8% |
| Amounts payable within one year | 42/48 | €119,187 | €145,661 | +€26,474 | +22.2% |
| Current portion of amounts payable after more than one year | 42 | €26,663 | €29,763 | +€3,100 | +11.6% |
| Trade debts | 44 | €742 | €28,651 | +€27,909 | +3,760% |
| Suppliers | 440/4 | €742 | €2,251 | +€1,509 | +203% |
| Bills of exchange payable | 441 | - | €26,400 | +€26,400 | |
| Taxes, remuneration and social security | 45 | €7,282 | €8,547 | +€1,266 | +17.4% |
| Taxes | 450/3 | €7,282 | €8,547 | +€1,266 | +17.4% |
| Other amounts payable | 47/48 | €84,500 | €78,700 | -€5,800 | -6.9% |
| Accrued charges and deferred income | 492/3 | - | €3,612 | +€3,612 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,685 | €19,486 | -€20,199 | -50.9% |
| Other operating charges | 640/8 | €1,752 | €1,808 | +€56 | +3.2% |
| Gross operating margin | 9900 | €55,867 | €41,511 | -€14,355 | -25.7% |
| Operating profit (loss) | 9901 | €14,430 | €20,217 | +€5,787 | +40.1% |
| Financial charges | 65/66B | €2,380 | €2,054 | -€326 | -13.7% |
| Recurring financial charges | 65 | €2,380 | €2,054 | -€326 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €12,050 | €18,163 | +€6,113 | +50.7% |
| Income taxes | 67/77 | €3,021 | €4,543 | +€1,523 | +50.4% |
| Profit (loss) for the period | 9904 | €9,029 | €13,619 | +€4,590 | +50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €9,029 | €13,619 | +€4,590 | +50.8% |
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 1 November 2026 via checked.be.