DECEMBRE 1944: 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.
DECEMBRE 1944
Largest movements
- Cash +€56,222
up €56,222 (+101%), from €55,545 to €111,767
mainly Net result for the year (+€47,554) and Depreciation (+€9,033)
- Tangible fixed assets -€9,033
down €9,033 (-4.9%), from €185,673 to €176,640
of which Land and buildings: -€9,033
- Profit (loss) carried forward +€47,554
up €47,554 (+23.4%), from €203,504 to €251,059
- Investment grants -€3,340
down €3,340 (-21.9%), from €15,253 to €11,912
- Other debts +€3,000
up €3,000 (+573%), from €524 to €3,524
- Gross operating margin +€3,992
up €3,992 (+5.9%), from €68,109 to €72,101
- Taxes +€838
up €838 (+5.4%), from €15,389 to €16,228
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 | €245,996 | €293,808 | +€47,812 | +19.4% |
| Fixed assets | 21/28 | €185,673 | €176,640 | -€9,033 | -4.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €185,673 | €176,640 | -€9,033 | -4.9% |
| Land and buildings | 22 | €41,243 | €32,210 | -€9,033 | -21.9% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €144,430 | €144,430 | = | 0.0% |
| Current assets | 29/58 | €60,323 | €117,168 | +€56,845 | +94.2% |
| Stocks and contracts in progress | 3 | €3,371 | €2,913 | -€459 | -13.6% |
| Stocks | 30/36 | €3,371 | €2,913 | -€459 | -13.6% |
| Amounts receivable within one year | 40/41 | €111 | €1,772 | +€1,662 | +1,500% |
| Trade receivables | 40 | €0 | €0 | = | |
| Other amounts receivable | 41 | €111 | €1,772 | +€1,662 | +1,500% |
| Cash at bank and in hand | 54/58 | €55,545 | €111,767 | +€56,222 | +101% |
| Deferred charges and accrued income | 490/1 | €1,296 | €716 | -€580 | -44.8% |
| Total equity and liabilities | 10/49 | €245,996 | €293,808 | +€47,812 | +19.4% |
| Equity | 10/15 | €240,818 | €285,032 | +€44,214 | +18.4% |
| Contributions | 10/11 | €22,061 | €22,061 | = | 0.0% |
| Profit (loss) carried forward | 14 | €203,504 | €251,059 | +€47,554 | +23.4% |
| Investment grants | 15 | €15,253 | €11,912 | -€3,340 | -21.9% |
| Amounts payable | 17/49 | €5,178 | €8,776 | +€3,598 | +69.5% |
| Amounts payable within one year | 42/48 | €4,494 | €7,776 | +€3,283 | +73.0% |
| Trade debts | 44 | €897 | €1,037 | +€140 | +15.6% |
| Suppliers | 440/4 | €897 | €1,037 | +€140 | +15.6% |
| Taxes, remuneration and social security | 45 | €3,073 | €3,216 | +€143 | +4.6% |
| Taxes | 450/3 | €3,073 | €3,216 | +€143 | +4.6% |
| Other amounts payable | 47/48 | €524 | €3,524 | +€3,000 | +573% |
| Accrued charges and deferred income | 492/3 | €684 | €1,000 | +€315 | +46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,033 | €9,033 | = | 0.0% |
| Other operating charges | 640/8 | €708 | €750 | +€42 | +5.9% |
| Gross operating margin | 9900 | €68,109 | €72,101 | +€3,992 | +5.9% |
| Operating profit (loss) | 9901 | €58,369 | €62,319 | +€3,950 | +6.8% |
| Financial income | 75/76B | €3,340 | €3,353 | +€12 | +0.4% |
| Recurring financial income | 75 | €3,340 | €3,353 | +€12 | +0.4% |
| Financial charges | 65/66B | €1,552 | €1,889 | +€337 | +21.7% |
| Recurring financial charges | 65 | €1,552 | €1,889 | +€337 | +21.7% |
| Profit (loss) for the period before taxes | 9903 | €60,157 | €63,782 | +€3,625 | +6.0% |
| Income taxes | 67/77 | €15,389 | €16,228 | +€838 | +5.4% |
| Profit (loss) for the period | 9904 | €44,768 | €47,554 | +€2,786 | +6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €44,768 | €47,554 | +€2,786 | +6.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.