DE RUBRIEK: 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.
DE RUBRIEK
Largest movements
- Cash +€51,237
up €51,237 (+17.5%), from €292,141 to €343,378
mainly Net result for the year (+€46,433) and Depreciation (+€35,165)
- Tangible fixed assets -€35,165
down €35,165 (-19.1%), from €184,019 to €148,854
of which Furniture and vehicles: -€19,090
- Receivables within one year -€16,026
down €16,026 (-31.8%), from €50,342 to €34,316
of which Other amounts receivable: -€18,103
- Reserves +€46,433
up €46,433 (+17.1%), from €271,901 to €318,335
- Debts after one year -€23,049
down €23,049 (-14.1%), from €163,007 to €139,958
- Current portion of long-term debt -€12,702
down €12,702 (-35.5%), from €35,751 to €23,049
- Other debts -€11,627
down €11,627 (-13.1%), from €88,707 to €77,080
- Gross operating margin +€8,950
up €8,950 (+7.7%), from €116,143 to €125,093
- Taxes +€4,393
up €4,393 (+23.6%), from €18,610 to €23,003
- Depreciation -€2,871
down €2,871 (-7.5%), from €38,037 to €35,165
- Financial charges -€1,410
down €1,410 (-10.8%), from €13,063 to €11,653
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 | €618,644 | €620,945 | +€2,301 | +0.4% |
| Fixed assets | 21/28 | €184,019 | €148,854 | -€35,165 | -19.1% |
| Tangible fixed assets | 22/27 | €184,019 | €148,854 | -€35,165 | -19.1% |
| Land and buildings | 22 | €147,971 | €137,402 | -€10,569 | -7.1% |
| Furniture and vehicles | 24 | €28,612 | €9,522 | -€19,090 | -66.7% |
| Other tangible fixed assets | 26 | €7,436 | €1,929 | -€5,506 | -74.1% |
| Current assets | 29/58 | €434,625 | €472,091 | +€37,466 | +8.6% |
| Stocks and contracts in progress | 3 | €90,597 | €92,437 | +€1,840 | +2.0% |
| Stocks | 30/36 | €90,597 | €92,437 | +€1,840 | +2.0% |
| Amounts receivable within one year | 40/41 | €50,342 | €34,316 | -€16,026 | -31.8% |
| Trade receivables | 40 | €2,029 | €4,106 | +€2,077 | +102% |
| Other amounts receivable | 41 | €48,314 | €30,211 | -€18,103 | -37.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €292,141 | €343,378 | +€51,237 | +17.5% |
| Deferred charges and accrued income | 490/1 | €1,544 | €1,960 | +€416 | +26.9% |
| Total equity and liabilities | 10/49 | €618,644 | €620,945 | +€2,301 | +0.4% |
| Equity | 10/15 | €278,101 | €324,535 | +€46,433 | +16.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €271,901 | €318,335 | +€46,433 | +17.1% |
| Distributable reserves | 133 | €271,901 | €318,335 | +€46,433 | +17.1% |
| Amounts payable | 17/49 | €340,542 | €296,410 | -€44,132 | -13.0% |
| Amounts payable after more than one year | 17 | €163,007 | €139,958 | -€23,049 | -14.1% |
| Financial debts | 170/4 | €163,007 | €139,958 | -€23,049 | -14.1% |
| Amounts payable within one year | 42/48 | €171,009 | €150,742 | -€20,267 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €35,751 | €23,049 | -€12,702 | -35.5% |
| Trade debts | 44 | €27,319 | €29,595 | +€2,276 | +8.3% |
| Suppliers | 440/4 | €27,319 | €29,595 | +€2,276 | +8.3% |
| Taxes, remuneration and social security | 45 | €19,232 | €21,019 | +€1,786 | +9.3% |
| Taxes | 450/3 | €19,232 | €16,665 | -€2,567 | -13.3% |
| Remuneration and social security | 454/9 | €0 | €4,354 | +€4,354 | |
| Other amounts payable | 47/48 | €88,707 | €77,080 | -€11,627 | -13.1% |
| Accrued charges and deferred income | 492/3 | €6,526 | €5,710 | -€817 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,037 | €35,165 | -€2,871 | -7.5% |
| Other operating charges | 640/8 | €2,894 | €3,847 | +€953 | +32.9% |
| Non-recurring operating charges | 66A | €8,673 | €8,673 | = | 0.0% |
| Gross operating margin | 9900 | €116,143 | €125,093 | +€8,950 | +7.7% |
| Operating profit (loss) | 9901 | €66,539 | €77,407 | +€10,868 | +16.3% |
| Financial income | 75/76B | €3,688 | €3,682 | -€6 | -0.2% |
| Recurring financial income | 75 | €3,688 | €3,682 | -€6 | -0.2% |
| Financial charges | 65/66B | €13,063 | €11,653 | -€1,410 | -10.8% |
| Recurring financial charges | 65 | €13,063 | €11,653 | -€1,410 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €57,164 | €69,437 | +€12,273 | +21.5% |
| Income taxes | 67/77 | €18,610 | €23,003 | +€4,393 | +23.6% |
| Profit (loss) for the period | 9904 | €38,554 | €46,433 | +€7,879 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €38,554 | €46,433 | +€7,879 | +20.4% |
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 13 October 2026 via checked.be.