DEFINE-CREATE-GO: 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.
DEFINE-CREATE-GO
Largest movements
- Cash -€75,704
down €75,704 (-22.4%), from €337,799 to €262,095
mainly Contributions, distributions and other (-€176,600) and Investment in fixed assets (net) (-€57,920)
- Current investments -€41,151
down €41,151 (-25.1%), from €163,827 to €122,676
- Tangible fixed assets +€39,952
up €39,952 (+125.7%), from €31,787 to €71,739
of which Furniture and vehicles: +€40,894
- Receivables within one year -€6,169
down €6,169 (-46.4%), from €13,295 to €7,126
of which Other amounts receivable: -€7,382
- Reserves -€80,197
down €80,197 (-25.9%), from €309,385 to €229,188
of which Distributable reserves: -€80,197
- Other debts -€13,156
down €13,156 (-6.3%), from €209,457 to €196,301
- Tax, wage and social debts +€10,624
up €10,624 (+120.3%), from €8,833 to €19,457
- Financial income +€25,043
up €25,043 (+922.2%), from €2,716 to €27,758
- Financial charges +€15,882
up €15,882 (+17817.4%), from €89 to €15,972
of which Financial charges: +€15,883
- Gross operating margin -€9,559
down €9,559 (-7.0%), from €135,651 to €126,092
- Depreciation +€7,617
up €7,617 (+73.6%), from €10,351 to €17,968
- Taxes -€5,107
down €5,107 (-17.9%), from €28,562 to €23,455
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 | €546,708 | €463,637 | -€83,071 | -15.2% |
| Fixed assets | 21/28 | €31,787 | €71,739 | +€39,952 | +125.7% |
| Tangible fixed assets | 22/27 | €31,787 | €71,739 | +€39,952 | +125.7% |
| Plant, machinery and equipment | 23 | €2,270 | €1,328 | -€942 | -41.5% |
| Furniture and vehicles | 24 | €29,516 | €70,411 | +€40,894 | +138.5% |
| Current assets | 29/58 | €514,921 | €391,897 | -€123,024 | -23.9% |
| Amounts receivable within one year | 40/41 | €13,295 | €7,126 | -€6,169 | -46.4% |
| Trade receivables | 40 | - | €1,213 | +€1,213 | |
| Other amounts receivable | 41 | €13,295 | €5,913 | -€7,382 | -55.5% |
| Current investments | 50/53 | €163,827 | €122,676 | -€41,151 | -25.1% |
| Cash at bank and in hand | 54/58 | €337,799 | €262,095 | -€75,704 | -22.4% |
| Total equity and liabilities | 10/49 | €546,708 | €463,637 | -€83,071 | -15.2% |
| Equity | 10/15 | €327,985 | €247,788 | -€80,197 | -24.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €309,385 | €229,188 | -€80,197 | -25.9% |
| 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 | €307,525 | €227,328 | -€80,197 | -26.1% |
| Amounts payable | 17/49 | €218,723 | €215,849 | -€2,874 | -1.3% |
| Amounts payable within one year | 42/48 | €218,723 | €215,849 | -€2,874 | -1.3% |
| Trade debts | 44 | €433 | €91 | -€342 | -79.1% |
| Suppliers | 440/4 | €433 | €91 | -€342 | -79.1% |
| Taxes, remuneration and social security | 45 | €8,833 | €19,457 | +€10,624 | +120.3% |
| Taxes | 450/3 | €8,833 | €19,457 | +€10,624 | +120.3% |
| Other amounts payable | 47/48 | €209,457 | €196,301 | -€13,156 | -6.3% |
| Non-recurring operating income | 76A | €2 | - | -€2 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,351 | €17,968 | +€7,617 | +73.6% |
| Other operating charges | 640/8 | - | €53 | +€53 | |
| Gross operating margin | 9900 | €135,651 | €126,092 | -€9,559 | -7.0% |
| Operating profit (loss) | 9901 | €125,300 | €108,071 | -€17,229 | -13.8% |
| Financial income | 75/76B | €2,716 | €27,758 | +€25,043 | +922.2% |
| Recurring financial income | 75 | €2,716 | €27,758 | +€25,043 | +922.2% |
| Financial charges | 65/66B | €89 | €15,972 | +€15,882 | +17817.4% |
| Recurring financial charges | 65 | €89 | €15,972 | +€15,883 | +17847.6% |
| Non-recurring financial charges | 66B | €0 | - | -€0 | |
| Profit (loss) for the period before taxes | 9903 | €127,927 | €119,858 | -€8,069 | -6.3% |
| Income taxes | 67/77 | €28,562 | €23,455 | -€5,107 | -17.9% |
| Profit (loss) for the period | 9904 | €99,365 | €96,403 | -€2,962 | -3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €99,365 | €96,403 | -€2,962 | -3.0% |
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 12 October 2026 via checked.be.