DEVELOPPEMENT HARMONISATION - RECHERCHE: 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.
DEVELOPPEMENT HARMONISATION - RECHERCHE
Largest movements
- Tangible fixed assets +€17,809
up €17,809 (+20.0%), from €88,883 to €106,692
of which Furniture and vehicles: +€25,189
- Cash -€3,672
down €3,672 (-38.4%), from €9,573 to €5,901
mainly Investment in fixed assets (net) (-€33,026) and Current portion of long-term debt (-€24,041)
- Current portion of long-term debt -€24,041
no longer reported in 2025 (was €24,041)
- Reserves +€19,048
up €19,048 (+10.9%), from €174,788 to €193,837
of which Distributable reserves: +€19,048
- Tax, wage and social debts +€10,758
up €10,758 (+51.2%), from €21,011 to €31,769
of which Remuneration and social security: +€10,046
- Trade debts +€9,812
up €9,812 (+163%), from €6,019 to €15,831
- Financial income +€23,248
up €23,248 (+56,495%), from €41 to €23,289
of which Non-recurring financial income: +€21,306
- Gross operating margin -€12,044
down €12,044 (-23.6%), from €51,050 to €39,006
- Depreciation -€10,111
down €10,111 (-39.9%), from €25,327 to €15,217
- Taxes +€7,628
up €7,628 (+352%), from €2,167 to €9,795
- Staff costs -€2,926
down €2,926 (-17.1%), from €17,131 to €14,205
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 | €244,452 | €260,029 | +€15,577 | +6.4% |
| Fixed assets | 21/28 | €88,883 | €106,692 | +€17,809 | +20.0% |
| Tangible fixed assets | 22/27 | €88,883 | €106,692 | +€17,809 | +20.0% |
| Land and buildings | 22 | €64,507 | €58,930 | -€5,577 | -8.6% |
| Furniture and vehicles | 24 | €14,886 | €40,075 | +€25,189 | +169% |
| Other tangible fixed assets | 26 | €9,490 | €7,687 | -€1,803 | -19.0% |
| Current assets | 29/58 | €155,569 | €153,337 | -€2,232 | -1.4% |
| Amounts receivable within one year | 40/41 | €133,689 | €135,752 | +€2,063 | +1.5% |
| Trade receivables | 40 | €133,689 | €135,752 | +€2,063 | +1.5% |
| Current investments | 50/53 | €10,000 | €10,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €9,573 | €5,901 | -€3,672 | -38.4% |
| Deferred charges and accrued income | 490/1 | €2,308 | €1,685 | -€623 | -27.0% |
| Total equity and liabilities | 10/49 | €244,452 | €260,029 | +€15,577 | +6.4% |
| Equity | 10/15 | €193,381 | €212,429 | +€19,048 | +9.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €174,788 | €193,837 | +€19,048 | +10.9% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €172,929 | €191,978 | +€19,048 | +11.0% |
| Amounts payable | 17/49 | €51,071 | €47,600 | -€3,471 | -6.8% |
| Amounts payable within one year | 42/48 | €51,071 | €47,600 | -€3,471 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €24,041 | - | -€24,041 | |
| Trade debts | 44 | €6,019 | €15,831 | +€9,812 | +163% |
| Suppliers | 440/4 | €6,019 | €15,831 | +€9,812 | +163% |
| Taxes, remuneration and social security | 45 | €21,011 | €31,769 | +€10,758 | +51.2% |
| Taxes | 450/3 | €19,605 | €20,317 | +€712 | +3.6% |
| Remuneration and social security | 454/9 | €1,406 | €11,452 | +€10,046 | +715% |
| Remuneration, social security and pensions | 62 | €17,131 | €14,205 | -€2,926 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,327 | €15,217 | -€10,111 | -39.9% |
| Other operating charges | 640/8 | €2,159 | €2,618 | +€460 | +21.3% |
| Non-recurring operating charges | 66A | €1,114 | €127 | -€987 | -88.6% |
| Gross operating margin | 9900 | €51,050 | €39,006 | -€12,044 | -23.6% |
| Operating profit (loss) | 9901 | €5,319 | €6,839 | +€1,521 | +28.6% |
| Financial income | 75/76B | €41 | €23,289 | +€23,248 | +56,495% |
| Recurring financial income | 75 | €41 | €1,983 | +€1,942 | +4,719% |
| Non-recurring financial income | 76B | - | €21,306 | +€21,306 | |
| Financial charges | 65/66B | €1,922 | €1,285 | -€637 | -33.1% |
| Recurring financial charges | 65 | €1,922 | €1,285 | -€637 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €3,438 | €28,843 | +€25,406 | +739% |
| Income taxes | 67/77 | €2,167 | €9,795 | +€7,628 | +352% |
| Profit (loss) for the period | 9904 | €1,271 | €19,048 | +€17,777 | +1,399% |
| Profit (loss) for the period to be appropriated | 9905 | €1,271 | €19,048 | +€17,777 | +1,399% |
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 22 October 2026 via checked.be.