DETAILS MATTER: 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.
DETAILS MATTER
Largest movements
- Current investments +€315,879
up €315,879 (+40.2%), from €786,634 to €1.1m
- Cash +€79,190
up €79,190 (+61.0%), from €129,749 to €208,939
mainly Net result for the year (+€392,727) and Tax, wage and social debts (+€34,543)
- Tangible fixed assets -€28,355
down €28,355 (-21.5%), from €131,861 to €103,507
of which Furniture and vehicles: -€25,088
- Reserves +€392,727
up €392,727 (+27.7%), from €1.4m to €1.8m
- Debts after one year -€74,015
no longer reported in 2025 (was €74,015)
- Tax, wage and social debts +€34,543
up €34,543 (+108%), from €32,132 to €66,675
- Current portion of long-term debt -€20,621
no longer reported in 2025 (was €20,621)
- Financial income +€115,391
up €115,391 (+427%), from €27,016 to €142,406
- Taxes +€35,445
up €35,445 (+24.0%), from €147,496 to €182,941
- Financial charges -€9,141
down €9,141 (-53.3%), from €17,151 to €8,010
- Depreciation +€7,541
up €7,541 (+33.3%), from €22,667 to €30,207
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 | €1,603,385 | €1,967,137 | +€363,752 | +22.7% |
| Fixed assets | 21/28 | €131,861 | €103,507 | -€28,355 | -21.5% |
| Tangible fixed assets | 22/27 | €131,861 | €103,507 | -€28,355 | -21.5% |
| Land and buildings | 22 | €17,679 | €14,412 | -€3,267 | -18.5% |
| Furniture and vehicles | 24 | €114,182 | €89,094 | -€25,088 | -22.0% |
| Current assets | 29/58 | €1,471,524 | €1,863,630 | +€392,106 | +26.6% |
| Amounts receivable after more than one year | 29 | €500,000 | €500,000 | = | 0.0% |
| Other amounts receivable | 291 | €500,000 | €500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €46,018 | €44,824 | -€1,193 | -2.6% |
| Trade receivables | 40 | €44,376 | €43,856 | -€519 | -1.2% |
| Other amounts receivable | 41 | €1,642 | €968 | -€674 | -41.0% |
| Current investments | 50/53 | €786,634 | €1,102,513 | +€315,879 | +40.2% |
| Cash at bank and in hand | 54/58 | €129,749 | €208,939 | +€79,190 | +61.0% |
| Deferred charges and accrued income | 490/1 | €9,123 | €7,354 | -€1,769 | -19.4% |
| Total equity and liabilities | 10/49 | €1,603,385 | €1,967,137 | +€363,752 | +22.7% |
| Equity | 10/15 | €1,437,312 | €1,830,039 | +€392,727 | +27.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,417,312 | €1,810,039 | +€392,727 | +27.7% |
| Distributable reserves | 133 | €1,417,312 | €1,810,039 | +€392,727 | +27.7% |
| Amounts payable | 17/49 | €166,073 | €137,098 | -€28,975 | -17.4% |
| Amounts payable after more than one year | 17 | €74,015 | - | -€74,015 | |
| Financial debts | 170/4 | €74,015 | - | -€74,015 | |
| Amounts payable within one year | 42/48 | €91,194 | €135,830 | +€44,636 | +48.9% |
| Current portion of amounts payable after more than one year | 42 | €20,621 | - | -€20,621 | |
| Financial debts | 43 | €22,188 | €36,980 | +€14,792 | +66.7% |
| Credit institutions | 430/8 | €22,188 | €36,980 | +€14,792 | +66.7% |
| Trade debts | 44 | €2,030 | €4,175 | +€2,145 | +106% |
| Suppliers | 440/4 | €2,030 | €4,175 | +€2,145 | +106% |
| Taxes, remuneration and social security | 45 | €32,132 | €66,675 | +€34,543 | +108% |
| Taxes | 450/3 | €32,132 | €66,675 | +€34,543 | +108% |
| Other amounts payable | 47/48 | €14,223 | €28,001 | +€13,778 | +96.9% |
| Accrued charges and deferred income | 492/3 | €864 | €1,267 | +€403 | +46.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,667 | €30,207 | +€7,541 | +33.3% |
| Other operating charges | 640/8 | €1,710 | €1,832 | +€121 | +7.1% |
| Gross operating margin | 9900 | €469,322 | €473,311 | +€3,990 | +0.9% |
| Operating profit (loss) | 9901 | €444,945 | €441,272 | -€3,672 | -0.8% |
| Financial income | 75/76B | €27,016 | €142,406 | +€115,391 | +427% |
| Recurring financial income | 75 | €27,016 | €142,406 | +€115,391 | +427% |
| Financial charges | 65/66B | €17,151 | €8,010 | -€9,141 | -53.3% |
| Recurring financial charges | 65 | €17,151 | €8,010 | -€9,141 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | €454,809 | €575,668 | +€120,859 | +26.6% |
| Income taxes | 67/77 | €147,496 | €182,941 | +€35,445 | +24.0% |
| Profit (loss) for the period | 9904 | €307,313 | €392,727 | +€85,414 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €307,313 | €392,727 | +€85,414 | +27.8% |
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 24 October 2026 via checked.be.