DE LINK: 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.
DE LINK
Largest movements
- Current investments -€79,751
down €79,751 (-16.0%), from €500,000 to €420,249
- Cash +€41,915
up €41,915 (+65.0%), from €64,521 to €106,436
mainly Current investments (+€79,751) and Accrued charges and deferred income (+€26,439)
- Receivables within one year +€23,497
up €23,497 (+58.3%), from €40,283 to €63,780
of which Trade receivables: +€21,451
- Tangible fixed assets +€8,359
up €8,359 (+52.3%), from €15,973 to €24,332
of which Furniture and vehicles: +€14,317
- Reserves -€28,904
down €28,904 (-6.5%), from €441,720 to €412,816
- Accrued charges and deferred income +€26,439
up €26,439 (+653.6%), from €4,045 to €30,485
- Staff costs +€21,423
up €21,423 (+2.5%), from €845,707 to €867,130
- Gross operating margin +€11,391
up €11,391 (+1.4%), from €839,762 to €851,153
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 | €643,117 | €633,159 | -€9,958 | -1.5% |
| Fixed assets | 21/28 | €22,494 | €28,332 | +€5,838 | +26.0% |
| Intangible fixed assets | 21 | €2,521 | - | -€2,521 | |
| Tangible fixed assets | 22/27 | €15,973 | €24,332 | +€8,359 | +52.3% |
| Furniture and vehicles | 24 | €1,314 | €15,631 | +€14,317 | +1089.7% |
| Other tangible fixed assets | 26 | €14,659 | €8,701 | -€5,958 | -40.6% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €620,624 | €604,827 | -€15,796 | -2.5% |
| Amounts receivable within one year | 40/41 | €40,283 | €63,780 | +€23,497 | +58.3% |
| Trade receivables | 40 | €38,124 | €59,575 | +€21,451 | +56.3% |
| Other amounts receivable | 41 | €2,159 | €4,205 | +€2,046 | +94.7% |
| Current investments | 50/53 | €500,000 | €420,249 | -€79,751 | -16.0% |
| Cash at bank and in hand | 54/58 | €64,521 | €106,436 | +€41,915 | +65.0% |
| Deferred charges and accrued income | 490/1 | €15,819 | €14,363 | -€1,457 | -9.2% |
| Total equity and liabilities | 10/49 | €643,117 | €633,159 | -€9,958 | -1.5% |
| Equity | 10/15 | €459,136 | €428,759 | -€30,377 | -6.6% |
| Contributions | 10/11 | €15,943 | €15,943 | = | 0.0% |
| Capital | 10 | €15,943 | €15,943 | = | 0.0% |
| Reserves | 13 | €441,720 | €412,816 | -€28,904 | -6.5% |
| Profit (loss) carried forward | 14 | €1,473 | - | -€1,473 | |
| Provisions and deferred taxes | 16 | €5,000 | €5,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €5,000 | €5,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €5,000 | €5,000 | = | 0.0% |
| Amounts payable | 17/49 | €178,981 | €199,400 | +€20,419 | +11.4% |
| Amounts payable within one year | 42/48 | €174,936 | €168,916 | -€6,021 | -3.4% |
| Trade debts | 44 | €3,642 | €15,560 | +€11,917 | +327.2% |
| Suppliers | 440/4 | €3,642 | €15,560 | +€11,917 | +327.2% |
| Taxes, remuneration and social security | 45 | €113,344 | €125,800 | +€12,456 | +11.0% |
| Taxes | 450/3 | €8,427 | €13,825 | +€5,398 | +64.1% |
| Remuneration and social security | 454/9 | €104,917 | €111,976 | +€7,058 | +6.7% |
| Accrued charges and deferred income | 492/3 | €4,045 | €30,485 | +€26,439 | +653.6% |
| Remuneration, social security and pensions | 62 | €845,707 | €867,130 | +€21,423 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,225 | €17,308 | -€4,917 | -22.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€5,825 | - | +€5,825 | |
| Other operating charges | 640/8 | €10,592 | €2,682 | -€7,910 | -74.7% |
| Non-recurring operating charges | 66A | - | €446 | +€446 | |
| Gross operating margin | 9900 | €839,762 | €851,153 | +€11,391 | +1.4% |
| Operating profit (loss) | 9901 | -€10,844 | -€36,413 | -€25,569 | -235.8% |
| Financial income | 75/76B | €13,127 | €6,897 | -€6,231 | -47.5% |
| Recurring financial income | 75 | €13,127 | €6,897 | -€6,231 | -47.5% |
| Financial charges | 65/66B | €810 | €861 | +€51 | +6.3% |
| Recurring financial charges | 65 | €810 | €861 | +€51 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €1,473 | -€30,377 | -€31,850 | |
| Profit (loss) for the period | 9904 | €1,473 | -€30,377 | -€31,850 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,473 | -€30,377 | -€31,850 |
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 8 October 2026 via checked.be.