DON'T BLINK: what changed
DON'T BLINK
Largest movements
- Tangible fixed assets -€21,755
down €21,755 (-5.4%), from €404,855 to €383,100
- Cash -€17,324
down €17,324 (-40.9%), from €42,395 to €25,071
mainly Debts after one year (-€36,331) and Contributions, distributions and other (-€30,000)
- Receivables within one year +€16,434
up €16,434 (+55.8%), from €29,463 to €45,896
of which Trade receivables: +€12,644
- Debts after one year -€36,331
down €36,331 (-13.2%), from €275,980 to €239,649
- Trade debts +€17,266
up €17,266 (+378%), from €4,569 to €21,835
- Reserves -€11,477
down €11,477 (-8.5%), from €134,905 to €123,428
of which Distributable reserves: -€11,477
- Tax, wage and social debts +€7,498
up €7,498 (+59.4%), from €12,625 to €20,122
- Gross operating margin -€7,181
down €7,181 (-11.1%), from €64,883 to €57,701
- Taxes -€2,315
down €2,315 (-27.6%), from €8,378 to €6,063
- Other operating charges -€1,426
down €1,426 (-32.8%), from €4,350 to €2,925
- Depreciation +€1,411
up €1,411 (+6.5%), from €21,734 to €23,145
- Financial income -€877
down €877 (-87.1%), from €1,006 to €129
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €477,926 | €457,883 | -€20,042 | -4.2% |
| Fixed assets | 21/28 | €405,155 | €383,400 | -€21,755 | -5.4% |
| Tangible fixed assets | 22/27 | €404,855 | €383,100 | -€21,755 | -5.4% |
| Land and buildings | 22 | €358,076 | €347,654 | -€10,423 | -2.9% |
| Plant, machinery and equipment | 23 | €3,510 | €1,523 | -€1,988 | -56.6% |
| Furniture and vehicles | 24 | €16,731 | €13,819 | -€2,912 | -17.4% |
| Leasing and similar rights | 25 | €26,536 | €20,104 | -€6,432 | -24.2% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €72,771 | €74,483 | +€1,712 | +2.4% |
| Amounts receivable within one year | 40/41 | €29,463 | €45,896 | +€16,434 | +55.8% |
| Trade receivables | 40 | €26,007 | €38,651 | +€12,644 | +48.6% |
| Other amounts receivable | 41 | €3,455 | €7,245 | +€3,790 | +110% |
| Cash at bank and in hand | 54/58 | €42,395 | €25,071 | -€17,324 | -40.9% |
| Deferred charges and accrued income | 490/1 | €914 | €3,516 | +€2,602 | +285% |
| Total equity and liabilities | 10/49 | €477,926 | €457,883 | -€20,042 | -4.2% |
| Equity | 10/15 | €147,305 | €135,828 | -€11,477 | -7.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €134,905 | €123,428 | -€11,477 | -8.5% |
| Tax-exempt reserves | 132 | €13,160 | €13,160 | = | 0.0% |
| Distributable reserves | 133 | €121,744 | €110,267 | -€11,477 | -9.4% |
| Amounts payable | 17/49 | €330,621 | €322,056 | -€8,565 | -2.6% |
| Amounts payable after more than one year | 17 | €275,980 | €239,649 | -€36,331 | -13.2% |
| Financial debts | 170/4 | €275,980 | €239,649 | -€36,331 | -13.2% |
| Amounts payable within one year | 42/48 | €54,641 | €82,407 | +€27,765 | +50.8% |
| Current portion of amounts payable after more than one year | 42 | €35,348 | €37,120 | +€1,773 | +5.0% |
| Trade debts | 44 | €4,569 | €21,835 | +€17,266 | +378% |
| Suppliers | 440/4 | €4,569 | €21,835 | +€17,266 | +378% |
| Taxes, remuneration and social security | 45 | €12,625 | €20,122 | +€7,498 | +59.4% |
| Taxes | 450/3 | €12,625 | €20,122 | +€7,498 | +59.4% |
| Other amounts payable | 47/48 | €2,100 | €3,329 | +€1,229 | +58.5% |
| Non-recurring operating income | 76A | €4,189 | - | -€4,189 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,734 | €23,145 | +€1,411 | +6.5% |
| Other operating charges | 640/8 | €4,350 | €2,925 | -€1,426 | -32.8% |
| Gross operating margin | 9900 | €64,883 | €57,701 | -€7,181 | -11.1% |
| Operating profit (loss) | 9901 | €38,799 | €31,632 | -€7,167 | -18.5% |
| Financial income | 75/76B | €1,006 | €129 | -€877 | -87.1% |
| Recurring financial income | 75 | €1,006 | €129 | -€877 | -87.1% |
| Financial charges | 65/66B | €6,985 | €7,175 | +€190 | +2.7% |
| Recurring financial charges | 65 | €6,985 | €7,175 | +€190 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €32,820 | €24,586 | -€8,234 | -25.1% |
| Income taxes | 67/77 | €8,378 | €6,063 | -€2,315 | -27.6% |
| Profit (loss) for the period | 9904 | €24,442 | €18,523 | -€5,919 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,442 | €18,523 | -€5,919 | -24.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.