Differentia: 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.
Differentia
Largest movements
- Cash +€191,080
up €191,080 (+76.3%), from €250,302 to €441,383
mainly Net result for the year (+€409,321) and Depreciation (+€29,822)
- Tangible fixed assets +€134,423
up €134,423 (+125%), from €107,167 to €241,590
of which Furniture and vehicles: +€134,829
- Current investments +€119,840
up €119,840 (+12.0%), from €996,991 to €1.1m
- Reserves +€409,300
up €409,300 (+29.6%), from €1.4m to €1.8m
of which Distributable reserves: +€283,000
- Gross operating margin +€99,891
up €99,891 (+23.3%), from €428,695 to €528,587
- Financial income +€43,368
up €43,368 (+186%), from €23,366 to €66,734
of which Financial income: +€28,808
- Financial charges +€23,717
up €23,717 (+1,196%), from €1,984 to €25,701
of which Non-recurring financial charges: +€22,999
- Taxes +€23,457
up €23,457 (+23.7%), from €98,889 to €122,346
- Other operating charges +€7,007
up €7,007 (+624%), from €1,123 to €8,130
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 | €1,444,061 | €1,866,987 | +€422,926 | +29.3% |
| Fixed assets | 21/28 | €137,667 | €259,091 | +€121,424 | +88.2% |
| Tangible fixed assets | 22/27 | €107,167 | €241,590 | +€134,423 | +125% |
| Plant, machinery and equipment | 23 | €37 | €0 | -€37 | -100% |
| Furniture and vehicles | 24 | €98,966 | €233,795 | +€134,829 | +136% |
| Other tangible fixed assets | 26 | €8,164 | €7,794 | -€370 | -4.5% |
| Financial fixed assets | 28 | €30,500 | €17,501 | -€12,999 | -42.6% |
| Current assets | 29/58 | €1,306,394 | €1,607,896 | +€301,502 | +23.1% |
| Amounts receivable within one year | 40/41 | €52,346 | €45,277 | -€7,068 | -13.5% |
| Trade receivables | 40 | €38,246 | €38,766 | +€521 | +1.4% |
| Other amounts receivable | 41 | €14,100 | €6,511 | -€7,589 | -53.8% |
| Current investments | 50/53 | €996,991 | €1,116,831 | +€119,840 | +12.0% |
| Cash at bank and in hand | 54/58 | €250,302 | €441,383 | +€191,080 | +76.3% |
| Deferred charges and accrued income | 490/1 | €6,756 | €4,405 | -€2,350 | -34.8% |
| Total equity and liabilities | 10/49 | €1,444,061 | €1,866,987 | +€422,926 | +29.3% |
| Equity | 10/15 | €1,403,603 | €1,812,924 | +€409,321 | +29.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,384,679 | €1,793,979 | +€409,300 | +29.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €272,819 | €399,119 | +€126,300 | +46.3% |
| Distributable reserves | 133 | €1,111,860 | €1,394,860 | +€283,000 | +25.5% |
| Profit (loss) carried forward | 14 | €323 | €344 | +€21 | +6.5% |
| Amounts payable | 17/49 | €40,458 | €54,063 | +€13,605 | +33.6% |
| Amounts payable within one year | 42/48 | €27,958 | €44,418 | +€16,459 | +58.9% |
| Trade debts | 44 | €2,093 | €9,632 | +€7,539 | +360% |
| Suppliers | 440/4 | €2,093 | €9,632 | +€7,539 | +360% |
| Taxes, remuneration and social security | 45 | €19,019 | €34,785 | +€15,766 | +82.9% |
| Taxes | 450/3 | €19,019 | €34,785 | +€15,766 | +82.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €6,846 | €0 | -€6,846 | -100% |
| Accrued charges and deferred income | 492/3 | €12,500 | €9,646 | -€2,854 | -22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,622 | €29,822 | -€800 | -2.6% |
| Other operating charges | 640/8 | €1,123 | €8,130 | +€7,007 | +624% |
| Gross operating margin | 9900 | €428,695 | €528,587 | +€99,891 | +23.3% |
| Operating profit (loss) | 9901 | €396,951 | €490,635 | +€93,684 | +23.6% |
| Financial income | 75/76B | €23,366 | €66,734 | +€43,368 | +186% |
| Recurring financial income | 75 | €23,366 | €52,174 | +€28,808 | +123% |
| Non-recurring financial income | 76B | - | €14,560 | +€14,560 | |
| Financial charges | 65/66B | €1,984 | €25,701 | +€23,717 | +1,196% |
| Recurring financial charges | 65 | €1,984 | €2,702 | +€718 | +36.2% |
| Non-recurring financial charges | 66B | - | €22,999 | +€22,999 | |
| Profit (loss) for the period before taxes | 9903 | €418,333 | €531,667 | +€113,334 | +27.1% |
| Income taxes | 67/77 | €98,889 | €122,346 | +€23,457 | +23.7% |
| Profit (loss) for the period | 9904 | €319,444 | €409,321 | +€89,877 | +28.1% |
| Transfer to tax-exempt reserves | 689 | €126,300 | €126,300 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €193,144 | €283,021 | +€89,877 | +46.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.