DYNAMIC: 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.
DYNAMIC
Largest movements
- Cash -€114,762
down €114,762 (-72.0%), from €159,378 to €44,616
mainly Investment in fixed assets (net) (-€102,229) and Current investments (-€97,339)
- Current investments +€97,339
up €97,339 (+20.1%), from €484,424 to €581,763
- Tangible fixed assets +€53,941
up €53,941 (+7.2%), from €753,968 to €807,909
of which Furniture and vehicles: +€53,941
- Financial fixed assets +€41,500
up €41,500 (+2.1%), from €2.0m to €2.0m
- Reserves +€44,537
up €44,537 (+5.7%), from €786,989 to €831,525
of which Distributable reserves: +€44,537
- Revaluation surpluses +€41,500
new in 2025: €41,500
- Financial income -€101,811
down €101,811 (-92.2%), from €110,384 to €8,572
- Gross operating margin +€36,215
up €36,215 (+130%), from €27,929 to €64,144
- Depreciation -€14,381
down €14,381 (-67.9%), from €21,169 to €6,788
- Taxes +€6,432
up €6,432 (+50.4%), from €12,752 to €19,184
- Other operating charges +€969
up €969 (+80.2%), from €1,209 to €2,177
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 | €3,378,771 | €3,463,870 | +€85,099 | +2.5% |
| Fixed assets | 21/28 | €2,732,202 | €2,827,642 | +€95,441 | +3.5% |
| Tangible fixed assets | 22/27 | €753,968 | €807,909 | +€53,941 | +7.2% |
| Land and buildings | 22 | €753,968 | €753,968 | = | 0.0% |
| Furniture and vehicles | 24 | - | €53,941 | +€53,941 | |
| Financial fixed assets | 28 | €1,978,234 | €2,019,734 | +€41,500 | +2.1% |
| Current assets | 29/58 | €646,569 | €636,228 | -€10,342 | -1.6% |
| Amounts receivable within one year | 40/41 | €2,768 | €5,562 | +€2,794 | +101% |
| Other amounts receivable | 41 | €2,768 | €5,562 | +€2,794 | +101% |
| Current investments | 50/53 | €484,424 | €581,763 | +€97,339 | +20.1% |
| Cash at bank and in hand | 54/58 | €159,378 | €44,616 | -€114,762 | -72.0% |
| Deferred charges and accrued income | 490/1 | - | €4,287 | +€4,287 | |
| Total equity and liabilities | 10/49 | €3,378,771 | €3,463,870 | +€85,099 | +2.5% |
| Equity | 10/15 | €3,376,182 | €3,462,218 | +€86,037 | +2.5% |
| Contributions | 10/11 | €2,346,234 | €2,346,234 | = | 0.0% |
| Revaluation surpluses | 12 | - | €41,500 | +€41,500 | |
| Reserves | 13 | €786,989 | €831,525 | +€44,537 | +5.7% |
| Non-distributable reserves | 130/1 | €23,161 | €23,161 | = | 0.0% |
| Reserves not available under the articles | 1311 | €23,161 | €23,161 | = | 0.0% |
| Distributable reserves | 133 | €763,828 | €808,364 | +€44,537 | +5.8% |
| Profit (loss) carried forward | 14 | €242,959 | €242,959 | = | 0.0% |
| Amounts payable | 17/49 | €2,589 | €1,652 | -€938 | -36.2% |
| Amounts payable within one year | 42/48 | €2,589 | €1,652 | -€938 | -36.2% |
| Taxes, remuneration and social security | 45 | €2,589 | €1,652 | -€938 | -36.2% |
| Taxes | 450/3 | €2,589 | €1,652 | -€938 | -36.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,169 | €6,788 | -€14,381 | -67.9% |
| Other operating charges | 640/8 | €1,209 | €2,177 | +€969 | +80.2% |
| Gross operating margin | 9900 | €27,929 | €64,144 | +€36,215 | +130% |
| Operating profit (loss) | 9901 | €5,551 | €55,178 | +€49,627 | +894% |
| Financial income | 75/76B | €110,384 | €8,572 | -€101,811 | -92.2% |
| Recurring financial income | 75 | €110,384 | €8,572 | -€101,811 | -92.2% |
| Financial charges | 65/66B | €28 | €30 | +€1 | +4.1% |
| Recurring financial charges | 65 | €28 | €30 | +€1 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €115,906 | €63,721 | -€52,186 | -45.0% |
| Income taxes | 67/77 | €12,752 | €19,184 | +€6,432 | +50.4% |
| Profit (loss) for the period | 9904 | €103,154 | €44,537 | -€58,617 | -56.8% |
| Profit (loss) for the period to be appropriated | 9905 | €103,154 | €44,537 | -€58,617 | -56.8% |
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 13 October 2026 via checked.be.