ECONOTE: 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.
ECONOTE
Largest movements
- Cash +€52,426
up €52,426 (+78.6%), from €66,685 to €119,111
mainly Other debts (+€105,801) and Net result for the year (+€66,389)
- Tangible fixed assets -€6,995
down €6,995 (-4.6%), from €150,920 to €143,925
of which Land and buildings: -€5,875
- Receivables within one year +€5,273
up €5,273 (+21.6%), from €24,460 to €29,733
of which Trade receivables: +€3,501
- Other debts +€105,801
up €105,801 (+262.0%), from €40,382 to €146,183
- Provisions -€29,004
down €29,004 (-100.0%), from €29,004 to €0
- Profit (loss) carried forward -€14,622
down €14,622 (-98.3%), from €14,867 to €246
- Debts after one year -€8,459
down €8,459 (-9.5%), from €89,145 to €80,687
- Tax, wage and social debts -€3,281
down €3,281 (-20.7%), from €15,855 to €12,574
of which Taxes: -€3,281
- Provisions -€58,007
down €58,007, from €29,004 to -€29,004
- Financial charges +€26,200
up €26,200 (+456.4%), from €5,740 to €31,940
- Gross operating margin -€13,519
down €13,519 (-13.4%), from €100,716 to €87,197
- Taxes -€6,951
down €6,951 (-59.6%), from €11,668 to €4,717
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 | €251,490 | €300,681 | +€49,191 | +19.6% |
| Fixed assets | 21/28 | €150,920 | €143,925 | -€6,995 | -4.6% |
| Tangible fixed assets | 22/27 | €150,920 | €143,925 | -€6,995 | -4.6% |
| Land and buildings | 22 | €143,757 | €137,882 | -€5,875 | -4.1% |
| Furniture and vehicles | 24 | €7,163 | €6,043 | -€1,120 | -15.6% |
| Current assets | 29/58 | €100,570 | €156,756 | +€56,186 | +55.9% |
| Amounts receivable within one year | 40/41 | €24,460 | €29,733 | +€5,273 | +21.6% |
| Trade receivables | 40 | €18,428 | €21,929 | +€3,501 | +19.0% |
| Other amounts receivable | 41 | €6,032 | €7,804 | +€1,772 | +29.4% |
| Cash at bank and in hand | 54/58 | €66,685 | €119,111 | +€52,426 | +78.6% |
| Deferred charges and accrued income | 490/1 | €9,425 | €7,911 | -€1,514 | -16.1% |
| Total equity and liabilities | 10/49 | €251,490 | €300,681 | +€49,191 | +19.6% |
| Equity | 10/15 | €63,467 | €48,846 | -€14,622 | -23.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,867 | €246 | -€14,622 | -98.3% |
| Provisions and deferred taxes | 16 | €29,004 | €0 | -€29,004 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €29,004 | €0 | -€29,004 | -100.0% |
| Other liabilities and charges | 164/5 | €29,004 | €0 | -€29,004 | -100.0% |
| Amounts payable | 17/49 | €159,019 | €251,835 | +€92,816 | +58.4% |
| Amounts payable after more than one year | 17 | €89,145 | €80,687 | -€8,459 | -9.5% |
| Financial debts | 170/4 | €89,145 | €80,687 | -€8,459 | -9.5% |
| Amounts payable within one year | 42/48 | €69,190 | €171,149 | +€101,958 | +147.4% |
| Current portion of amounts payable after more than one year | 42 | €8,361 | €8,459 | +€97 | +1.2% |
| Trade debts | 44 | €4,591 | €3,933 | -€658 | -14.3% |
| Suppliers | 440/4 | €4,591 | €3,933 | -€658 | -14.3% |
| Taxes, remuneration and social security | 45 | €15,855 | €12,574 | -€3,281 | -20.7% |
| Taxes | 450/3 | €14,520 | €11,239 | -€3,281 | -22.6% |
| Remuneration and social security | 454/9 | €1,335 | €1,335 | = | 0.0% |
| Other amounts payable | 47/48 | €40,382 | €146,183 | +€105,801 | +262.0% |
| Accrued charges and deferred income | 492/3 | €683 | €0 | -€683 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,071 | €11,160 | +€89 | +0.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €29,004 | -€29,004 | -€58,007 | |
| Other operating charges | 640/8 | €2,698 | €1,998 | -€700 | -25.9% |
| Gross operating margin | 9900 | €100,716 | €87,197 | -€13,519 | -13.4% |
| Operating profit (loss) | 9901 | €57,945 | €103,043 | +€45,099 | +77.8% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €5,740 | €31,940 | +€26,200 | +456.4% |
| Recurring financial charges | 65 | €5,740 | €31,940 | +€26,200 | +456.4% |
| Profit (loss) for the period before taxes | 9903 | €52,204 | €71,106 | +€18,902 | +36.2% |
| Income taxes | 67/77 | €11,668 | €4,717 | -€6,951 | -59.6% |
| Profit (loss) for the period | 9904 | €40,536 | €66,389 | +€25,853 | +63.8% |
| Profit (loss) for the period to be appropriated | 9905 | €40,536 | €66,389 | +€25,853 | +63.8% |
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 10 October 2026 via checked.be.