DECISIVE: 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.
DECISIVE
Largest movements
- Cash +€45,245
up €45,245 (+27.2%), from €166,626 to €211,871
mainly Net result for the year (+€37,057) and Receivables within one year (+€24,661)
- Receivables within one year -€24,661
down €24,661 (-15.4%), from €160,405 to €135,744
of which Trade receivables: -€14,687
- Tangible fixed assets -€6,377
down €6,377 (-4.0%), from €160,956 to €154,579
of which Land and buildings: -€5,048
- Reserves +€29,133
up €29,133 (+13.8%), from €211,747 to €240,879
of which Distributable reserves: +€29,133
- Current portion of long-term debt -€13,500
no longer reported in 2025 (was €13,500)
- Gross operating margin +€2,663
up €2,663 (+4.5%), from €59,256 to €61,919
- Financial charges -€2,335
down €2,335 (-36.3%), from €6,427 to €4,092
- Depreciation -€878
down €878 (-12.1%), from €7,255 to €6,377
- Taxes +€698
up €698 (+5.4%), from €12,858 to €13,556
- Financial income +€690
up €690 (+76.6%), from €900 to €1,590
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 | €490,147 | €504,972 | +€14,825 | +3.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €160,956 | €154,579 | -€6,377 | -4.0% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €160,956 | €154,579 | -€6,377 | -4.0% |
| Land and buildings | 22 | €156,503 | €151,455 | -€5,048 | -3.2% |
| Plant, machinery and equipment | 23 | €3,693 | €2,847 | -€846 | -22.9% |
| Furniture and vehicles | 24 | €760 | €277 | -€483 | -63.5% |
| Current assets | 29/58 | €329,191 | €350,393 | +€21,202 | +6.4% |
| Amounts receivable within one year | 40/41 | €160,405 | €135,744 | -€24,661 | -15.4% |
| Trade receivables | 40 | €30,087 | €15,401 | -€14,687 | -48.8% |
| Other amounts receivable | 41 | €130,317 | €120,343 | -€9,975 | -7.7% |
| Cash at bank and in hand | 54/58 | €166,626 | €211,871 | +€45,245 | +27.2% |
| Deferred charges and accrued income | 490/1 | €2,161 | €2,779 | +€618 | +28.6% |
| Total equity and liabilities | 10/49 | €490,147 | €504,972 | +€14,825 | +3.0% |
| Equity | 10/15 | €226,222 | €253,279 | +€27,057 | +12.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €211,747 | €240,879 | +€29,133 | +13.8% |
| 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 | €209,887 | €239,019 | +€29,133 | +13.9% |
| Profit (loss) carried forward | 14 | €2,075 | - | -€2,075 | |
| Amounts payable | 17/49 | €263,925 | €251,693 | -€12,232 | -4.6% |
| Amounts payable after more than one year | 17 | €230,625 | €230,625 | = | 0.0% |
| Financial debts | 170/4 | €230,625 | €230,625 | = | 0.0% |
| Amounts payable within one year | 42/48 | €33,300 | €21,068 | -€12,232 | -36.7% |
| Current portion of amounts payable after more than one year | 42 | €13,500 | - | -€13,500 | |
| Trade debts | 44 | €2,915 | €1,158 | -€1,757 | -60.3% |
| Suppliers | 440/4 | €2,915 | €1,158 | -€1,757 | -60.3% |
| Taxes, remuneration and social security | 45 | €16,439 | €19,513 | +€3,074 | +18.7% |
| Taxes | 450/3 | €16,439 | €19,496 | +€3,057 | +18.6% |
| Remuneration and social security | 454/9 | - | €17 | +€17 | |
| Other amounts payable | 47/48 | €446 | €397 | -€49 | -11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,255 | €6,377 | -€878 | -12.1% |
| Other operating charges | 640/8 | €1,902 | €2,428 | +€526 | +27.6% |
| Gross operating margin | 9900 | €59,256 | €61,919 | +€2,663 | +4.5% |
| Operating profit (loss) | 9901 | €50,098 | €53,114 | +€3,016 | +6.0% |
| Financial income | 75/76B | €900 | €1,590 | +€690 | +76.6% |
| Recurring financial income | 75 | €900 | €1,590 | +€690 | +76.6% |
| Financial charges | 65/66B | €6,427 | €4,092 | -€2,335 | -36.3% |
| Recurring financial charges | 65 | €6,427 | €4,092 | -€2,335 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €44,572 | €50,613 | +€6,041 | +13.6% |
| Income taxes | 67/77 | €12,858 | €13,556 | +€698 | +5.4% |
| Profit (loss) for the period | 9904 | €31,714 | €37,057 | +€5,343 | +16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,714 | €37,057 | +€5,343 | +16.8% |
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 4 October 2026 via checked.be.