E +: what changed
Two fiscal 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.
E +
Largest movements
- Cash +€200,488
up €200,488 (+202.2%), from €99,137 to €299,625
mainly Current investments (+€152,453) and Net result for the year (+€69,231)
- Current investments -€152,453
no longer reported in 2025 (was €152,453)
- Tangible fixed assets -€5,699
down €5,699 (-23.7%), from €24,063 to €18,364
of which Furniture and vehicles: -€5,344
- Reserves +€42,600
up €42,600 (+17.2%), from €247,860 to €290,460
- Tax, wage and social debts -€4,992
down €4,992 (-30.9%), from €16,175 to €11,183
- Gross operating margin +€3,354
up €3,354 (+3.5%), from €96,177 to €99,531
- Depreciation +€1,949
up €1,949 (+52.0%), from €3,749 to €5,699
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.
Cash bridge derived
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 | €297,572 | €338,484 | +€40,912 | +13.7% |
| Fixed assets | 21/28 | €24,063 | €18,364 | -€5,699 | -23.7% |
| Tangible fixed assets | 22/27 | €24,063 | €18,364 | -€5,699 | -23.7% |
| Furniture and vehicles | 24 | €23,169 | €17,825 | -€5,344 | -23.1% |
| Other tangible fixed assets | 26 | €894 | €539 | -€354 | -39.6% |
| Current assets | 29/58 | €273,509 | €320,120 | +€46,611 | +17.0% |
| Amounts receivable within one year | 40/41 | €18,368 | €19,826 | +€1,458 | +7.9% |
| Trade receivables | 40 | €18,368 | €18,682 | +€314 | +1.7% |
| Other amounts receivable | 41 | - | €1,144 | +€1,144 | |
| Current investments | 50/53 | €152,453 | - | -€152,453 | |
| Cash at bank and in hand | 54/58 | €99,137 | €299,625 | +€200,488 | +202.2% |
| Deferred charges and accrued income | 490/1 | €3,551 | €669 | -€2,882 | -81.2% |
| Total equity and liabilities | 10/49 | €297,572 | €338,484 | +€40,912 | +13.7% |
| Equity | 10/15 | €280,934 | €323,565 | +€42,631 | +15.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €247,860 | €290,460 | +€42,600 | +17.2% |
| Distributable reserves | 133 | €247,860 | €290,460 | +€42,600 | +17.2% |
| Profit (loss) carried forward | 14 | €20,674 | €20,705 | +€31 | +0.1% |
| Amounts payable | 17/49 | €16,638 | €14,919 | -€1,719 | -10.3% |
| Amounts payable within one year | 42/48 | €16,638 | €14,919 | -€1,719 | -10.3% |
| Trade debts | 44 | €463 | €1,136 | +€674 | +145.6% |
| Suppliers | 440/4 | €463 | €1,136 | +€674 | +145.6% |
| Taxes, remuneration and social security | 45 | €16,175 | €11,183 | -€4,992 | -30.9% |
| Taxes | 450/3 | €16,175 | €11,183 | -€4,992 | -30.9% |
| Other amounts payable | 47/48 | - | €2,600 | +€2,600 | |
| Non-recurring operating income | 76A | €3,620 | - | -€3,620 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,749 | €5,699 | +€1,949 | +52.0% |
| Other operating charges | 640/8 | €1,053 | €783 | -€270 | -25.6% |
| Gross operating margin | 9900 | €96,177 | €99,531 | +€3,354 | +3.5% |
| Operating profit (loss) | 9901 | €91,375 | €93,050 | +€1,675 | +1.8% |
| Financial income | 75/76B | €2,814 | €2,623 | -€190 | -6.8% |
| Recurring financial income | 75 | €2,814 | €2,623 | -€190 | -6.8% |
| Financial charges | 65/66B | €132 | €131 | -€1 | -0.9% |
| Recurring financial charges | 65 | €132 | €131 | -€1 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €94,056 | €95,542 | +€1,486 | +1.6% |
| Income taxes | 67/77 | €26,300 | €26,311 | +€11 | 0.0% |
| Profit (loss) for the period | 9904 | €67,756 | €69,231 | +€1,475 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €67,756 | €69,231 | +€1,475 | +2.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.