D2: 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.
D2
Largest movements
- Cash -€8,245
down €8,245 (-90.6%), from €9,096 to €851
mainly Debts after one year (-€35,714) and Investment in fixed assets (net) (-€5,000)
- Reserves +€61,728
new in 2025: €61,728
- Profit (loss) carried forward -€39,789
down €39,789 (-100%), from €39,789 to €0
- Debts after one year -€35,714
down €35,714 (-11.8%), from €301,785 to €266,071
- Other debts +€10,484
up €10,484 (+12.0%), from €87,260 to €97,743
- Financial charges -€5,206
down €5,206 (-33.1%), from €15,746 to €10,540
- Taxes +€1,582
up €1,582 (+24.6%), from €6,427 to €8,010
- Gross operating margin -€955
down €955 (-2.3%), from €41,905 to €40,950
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 | €517,969 | €514,724 | -€3,245 | -0.6% |
| Fixed assets | 21/28 | €500,000 | €505,000 | +€5,000 | +1.0% |
| Financial fixed assets | 28 | €500,000 | €505,000 | +€5,000 | +1.0% |
| Current assets | 29/58 | €17,969 | €9,724 | -€8,245 | -45.9% |
| Amounts receivable within one year | 40/41 | €8,873 | €8,873 | = | 0.0% |
| Trade receivables | 40 | €8,873 | €8,873 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,096 | €851 | -€8,245 | -90.6% |
| Total equity and liabilities | 10/49 | €517,969 | €514,724 | -€3,245 | -0.6% |
| Equity | 10/15 | €69,789 | €91,728 | +€21,939 | +31.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | - | €61,728 | +€61,728 | |
| Distributable reserves | 133 | - | €61,728 | +€61,728 | |
| Profit (loss) carried forward | 14 | €39,789 | €0 | -€39,789 | -100% |
| Amounts payable | 17/49 | €448,180 | €422,996 | -€25,184 | -5.6% |
| Amounts payable after more than one year | 17 | €301,785 | €266,071 | -€35,714 | -11.8% |
| Financial debts | 170/4 | €301,785 | €266,071 | -€35,714 | -11.8% |
| Amounts payable within one year | 42/48 | €138,771 | €153,465 | +€14,694 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €35,714 | €35,714 | = | 0.0% |
| Trade debts | 44 | - | €661 | +€661 | |
| Suppliers | 440/4 | - | €661 | +€661 | |
| Taxes, remuneration and social security | 45 | €15,798 | €19,346 | +€3,549 | +22.5% |
| Taxes | 450/3 | €15,798 | €19,346 | +€3,549 | +22.5% |
| Other amounts payable | 47/48 | €87,260 | €97,743 | +€10,484 | +12.0% |
| Accrued charges and deferred income | 492/3 | €7,623 | €3,460 | -€4,163 | -54.6% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €41,905 | €40,950 | -€955 | -2.3% |
| Operating profit (loss) | 9901 | €41,456 | €40,488 | -€967 | -2.3% |
| Financial charges | 65/66B | €15,746 | €10,540 | -€5,206 | -33.1% |
| Recurring financial charges | 65 | €15,746 | €10,540 | -€5,206 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €25,710 | €29,949 | +€4,239 | +16.5% |
| Income taxes | 67/77 | €6,427 | €8,010 | +€1,582 | +24.6% |
| Profit (loss) for the period | 9904 | €19,282 | €21,939 | +€2,657 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €19,282 | €21,939 | +€2,657 | +13.8% |
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 23 October 2026 via checked.be.