Double F: 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.
Double F
Largest movements
- Cash +€19,222
up €19,222 (+16.3%), from €117,948 to €137,170
mainly Net result for the year (+€123,587) and Receivables within one year (+€12,574)
- Receivables within one year -€12,574
down €12,574 (-26.2%), from €48,079 to €35,505
of which Trade receivables: -€16,523
- Tangible fixed assets -€1,803
down €1,803 (-49.7%), from €3,631 to €1,828
- Other debts +€3,459
up €3,459 (+2.9%), from €120,748 to €124,207
- Gross operating margin +€2,473
up €2,473 (+1.5%), from €160,897 to €163,371
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 | €171,474 | €176,996 | +€5,522 | +3.2% |
| Fixed assets | 21/28 | €3,631 | €1,828 | -€1,803 | -49.7% |
| Tangible fixed assets | 22/27 | €3,631 | €1,828 | -€1,803 | -49.7% |
| Plant, machinery and equipment | 23 | €3,631 | €1,828 | -€1,803 | -49.7% |
| Current assets | 29/58 | €167,843 | €175,168 | +€7,325 | +4.4% |
| Amounts receivable within one year | 40/41 | €48,079 | €35,505 | -€12,574 | -26.2% |
| Trade receivables | 40 | €47,753 | €31,230 | -€16,523 | -34.6% |
| Other amounts receivable | 41 | €326 | €4,275 | +€3,949 | +1,211% |
| Cash at bank and in hand | 54/58 | €117,948 | €137,170 | +€19,222 | +16.3% |
| Deferred charges and accrued income | 490/1 | €1,815 | €2,493 | +€678 | +37.3% |
| Total equity and liabilities | 10/49 | €171,474 | €176,996 | +€5,522 | +3.2% |
| Equity | 10/15 | €46,054 | €46,640 | +€587 | +1.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,454 | €28,040 | +€587 | +2.1% |
| Distributable reserves | 133 | €27,454 | €28,040 | +€587 | +2.1% |
| Amounts payable | 17/49 | €125,420 | €130,355 | +€4,936 | +3.9% |
| Amounts payable within one year | 42/48 | €125,296 | €128,543 | +€3,248 | +2.6% |
| Trade debts | 44 | €166 | €151 | -€16 | -9.5% |
| Suppliers | 440/4 | €166 | €151 | -€16 | -9.5% |
| Taxes, remuneration and social security | 45 | €4,381 | €4,186 | -€196 | -4.5% |
| Taxes | 450/3 | €4,381 | €4,186 | -€196 | -4.5% |
| Other amounts payable | 47/48 | €120,748 | €124,207 | +€3,459 | +2.9% |
| Accrued charges and deferred income | 492/3 | €124 | €1,812 | +€1,688 | +1,358% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,224 | €2,463 | +€239 | +10.7% |
| Other operating charges | 640/8 | €1,706 | €1,724 | +€18 | +1.0% |
| Gross operating margin | 9900 | €160,897 | €163,371 | +€2,473 | +1.5% |
| Operating profit (loss) | 9901 | €156,967 | €159,183 | +€2,217 | +1.4% |
| Financial charges | 65/66B | €99 | €103 | +€4 | +4.0% |
| Recurring financial charges | 65 | €99 | €103 | +€4 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | €156,868 | €159,080 | +€2,213 | +1.4% |
| Income taxes | 67/77 | €36,081 | €35,494 | -€588 | -1.6% |
| Profit (loss) for the period | 9904 | €120,786 | €123,587 | +€2,800 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €120,786 | €123,587 | +€2,800 | +2.3% |
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 15 October 2026 via checked.be.